APL Apollo Tubes Ltd.record 960k tons, EBITDA/ton ₹6,000, UAE stalled

APL Apollo Tubes' Q2 FY27 call, held on 26 October 2026, showed a company trading volume for margin.

Management called it the best quarter yet for sales volume, EBITDA and net profit, with 960,000 tons sold even though UAE operations ran at about 40% of normal and steel was short. EBITDA per ton reached about ₹6,000, which management called sustainable and expects to exceed in Q3, helped by dropping low-margin SG Premium volume and by roofing products, whose volume the company aims to lift to 175,000 tons a quarter.

Gross profit per ton fell about ₹500 on a larger share of light structures. Cash on books rose 15% to ₹1,600 crore and working capital days stayed at zero. Management held its 15% volume growth target for the APL Apollo brand and roofing products, targeted 20% EBITDA growth and at least ₹2,200 crore this year, and said ₹3,000 crore is possible in FY28 if UAE operations, steel supply and container freight recover. A new mill opens defence and aerospace products. No earlier promises were on file for comparison.