Apollo Pipes Q2 FY27 Results: Consolidated Net Profit ₹0.63 Crore on Total Income of ₹318 Crore
- Earnings
- Plastic pipes and fittings
Reviewed byRachit TripathiBlacklitt Research
Apollo Pipes (NSE: APOLLOPIPE) reported total income of ₹317.79 crore on a consolidated basis and ₹261.14 crore standalone for the quarter ended 30 Sep 2026, and net profit of ₹0.63 crore consolidated and ₹5.50 crore standalone, it said in a filing on 05 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹317.79 crore, up 31.8% YoY and 6.8% QoQ
- Net profit and EPS: ₹0.63 crore, down 54.5% YoY; basic EPS ₹0.14 against ₹0.31
- Other income: ₹8.15 crore, up 52.2% YoY, 2.6% of total income
- Finance costs: ₹3.10 crore, up 23.5% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹261.14 crore, up 32.9% YoY and 5.9% QoQ
- Net profit and EPS: ₹5.50 crore, up 165.2% YoY; basic EPS ₹1.25 against ₹0.47
- Other income: ₹8.16 crore, up 247.1% YoY, 3.1% of total income
- Finance costs: ₹2.35 crore, up 39.7% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 317.79 | 241.07 | +31.8% | 297.65 | +6.8% | |
| Revenue from operations | 309.40 | 235.71 | +31.3% | 205.43 | +50.6% |
| Other income | 8.15 | 5.35 | +52.2% | 2.22 | +267.0% |
| 0.63 | 1.39 | -54.5% | -11.11 | n/a | |
| Profit before tax | 0.68 | 4.11 | -83.4% | -12.64 | n/a |
| Finance costs | 3.10 | 2.51 | +23.5% | 3.04 | +2.1% |
| Depreciation | 15.86 | 14.50 | +9.4% | 14.87 | +6.7% |
| Tax expense | 0.05 | 1.17 | -95.5% | -0.52 | n/a |
| Net profit margin | 0.20% | 0.58% | -0.38 pp | -3.73% | +3.93 pp |
| EPS, basic (₹) | 0.14 | 0.31 | -54.8% | -2.52 | n/a |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Total income grew faster than net profit. Consolidated total income rose 31.8% YoY to ₹317.79 crore, while net profit fell 54.5% to ₹0.63 crore and profit before tax fell 83.4% to ₹0.68 crore. Revenue from operations rose 31.3%, slower than other income, which rose 52.2% to ₹8.15 crore. Other income is equal to about 1191.3% of the quarter's profit before tax of ₹0.68 crore, so the profit before tax rests heavily on it.
The tax expense of ₹0.05 crore is 7.8% of profit before tax, against ₹1.17 crore a year earlier on ₹4.11 crore of profit before tax. The notes say the Group has a single reportable segment, Plastic Products, and that its tiles business falls below the reportable thresholds.
The previous quarter, ended 30 Jun 2026, was a loss of ₹11.11 crore on consolidated net profit, so the QoQ comparison in net profit is shown as not meaningful. The filing does not explain the swing between the two quarters.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 261.14 | 196.44 | +32.9% | 246.53 | +5.9% | |
| Revenue from operations | 252.98 | 194.09 | +30.3% | 204.32 | +23.8% |
| Other income | 8.16 | 2.35 | +247.1% | 2.20 | +270.4% |
| 5.50 | 2.07 | +165.2% | -5.40 | n/a | |
| Profit before tax | 5.75 | 4.80 | +19.8% | -5.92 | n/a |
| Finance costs | 2.35 | 1.68 | +39.7% | 2.35 | +0.2% |
| Depreciation | 14.41 | 13.08 | +10.1% | 13.63 | +5.7% |
| Tax expense | 0.25 | 2.73 | -90.7% | -0.52 | n/a |
| Net profit margin | 2.10% | 1.05% | +1.05 pp | -2.19% | +4.29 pp |
| EPS, basic (₹) | 1.25 | 0.47 | +166.0% | -1.00 | n/a |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 165.2% YoY to ₹5.50 crore, faster than total income, which rose 32.9% to ₹261.14 crore. Profit before tax rose 19.8% to ₹5.75 crore, and the tax expense fell to ₹0.25 crore from ₹2.73 crore a year earlier, which is 4.4% of profit before tax. The year-ago quarter's tax figure is not explained in the filing.
Revenue from operations rose 30.3% to ₹252.98 crore, slower than other income, which rose 247.1% to ₹8.16 crore, or 3.1% of total income. Other income is 142.0% of standalone profit before tax of ₹5.75 crore. Finance costs rose 39.7% to ₹2.35 crore, and depreciation rose 10.1% to ₹14.41 crore.
Standalone net profit is ₹4.87 crore higher than the consolidated figure of ₹0.63 crore. The standalone result moved from a loss of ₹5.40 crore in the quarter ended 30 Jun 2026 to a profit of ₹5.50 crore, and the filing does not give the reason for that change.
The company says the Board approved the results on 5 Nov 2026, and the statutory auditors, AKGVG & Associates, issued limited review reports on both statements with an unmodified conclusion. For the consolidated results the auditors did not review the interim information of three entities, which were reviewed by other auditors.
On 16 Oct 2026 the company received the balance of ₹82.50 crore on warrants of 20,00,000 at ₹550 each, worth ₹110.00 crore in total, after ₹27.50 crore of application money. The notes give the application money as 23% in one place and 25% in another; the filing does not explain the difference.
The company incorporated Apollo Ceramics Limited as a wholly owned subsidiary in the quarter, and that subsidiary acquired a 76% interest in Mazzini Tiles LLP for ₹40.42 crore. The notes say the scheme of arrangement among Apollo Pipes, Kisan Moulding Limited and KML Tradelinks Private Limited, approved by the Board on 26 Jun 2026, remains subject to approvals from stock exchanges, the National Company Law Tribunal, shareholders and creditors.
Inference
The filing reports paid-up equity share capital of ₹44.05 crore, with 440.48 lakh shares of ₹10 face value, and the warrant balance of ₹82.50 crore was received on 16 Oct 2026 after the quarter end.
The filing does not give the reason for the swing in profit between the quarter ended 30 Jun 2026 and the quarter ended 30 Sep 2026, nor the reason for the year-ago tax credit, and it does not give the status of the scheme of arrangement approvals.
Filed with BSE on . Reference: Original filing (PDF)
Disclaimer:
The information available on this article is provided for education and informational purposes only. It does not constitute or provide financial, investment or trading advice and should not be construed as an endorsement of any specific stock or financial strategy in any form or manner. We do not make any representations or warranties regarding the quality, reliability, or accuracy of the information provided. This website may contain links to third-party content. We are not responsible for the content or accuracy of these external sources and do not endorse or verify the information provided by third parties. We are not liable for any decisions made or actions taken based on the information provided on this website.
