BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
APL Apollo Tubes Ltd. continues to chart a lead role in catalysing steel tubes market in India.
Strong growth guidance along with increasing value added mix (70-75% by FY25E) along with intense efforts towards market creation are clear earnings triggers.
Underlying business return on capital employed are already at 50%, and should reflect in the print as four million tonne per annum volume run-rate is achieved.
We expect APL Apollo Tubes' market share gains to accelerate with the commissioning of the new Raipur plant.
Current business environment is offering a counter-cyclical investment opportunity, in our view, with 20-25% gap between flat and long steel products hindering volume growth for APL Apollo Tubes, an environment which is expected to normalise in the medium term.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
