APOLLOPIPE

What Apollo Pipes promised, and what happened

Every commitment management made on a call, tracked from the quarter it was made — reaffirmed, revised, diluted or quietly dropped.

Guidance record · Q1 FY27

what the last two calls moved 24 tracked 2 delivered 3 missed 19 open
  • FY26 Volume Growth missed said Q4 FY25 Promised: 20% to 25% volume growth for FY '26 Q1 FY27: Historical promise, not mentioned. Superseded by new FY27 guidance.
  • Return on Capital Employed (ROCE) at risk said Q4 FY25 Promised: Confident of achieving 25% ROCE in next 2 years Q1 FY27: Management reiterates a 25% ROCE target, but ties it to a long-term (FY31) INR 5,000 cr revenue goal. The original 2-year promise (by Q4 FY27) is highly unlikely given current 7% normalized EBITDA margins.
  • Capacity Expansion on track said Q1 FY26 Promised: Expand total installed capacity to 2,86,000 tons over the next 2 years, without adding any debt Q1 FY27: Reiterated FY27 capex of INR 100cr to be funded from operating cash flow, with the company being 'almost net cash'.

The rest of the ledger

Above is what the last two calls moved. Pro opens all 24 tracked commitments for Apollo Pipes — every quarter's revision, the source quote behind each one, and the topics management has stopped answering.

See what Pro opens