APL Apollo Tubes - An Ideal Proxy To Strong Construction Demand; Yes Securities Initiates Coverage With A Buy

New capacities to fast-track growth

A square and rectangular black hollow sections tubes made by APL Apollo Tubes Ltd. (Source: Company website)

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Yes Securities Report

We initiate coverage on APL Apollo Tubes Ltd. with a Buy rating on the following conviction-

  1. company’s substantial ~55% market share in the buoyant structural steel tubes industry (HRC Coil based),

  2. growth boost from new capacities,

  3. higher share of value-added products,

  4. remarkable product innovation and growing industry applications

  5. healthy free cash flow generation and superior return ratios.

Click on the attachment to read the full report:

Yes Securities APL Tubes Initiating Coverage Note.pdf
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Also Read: SBI - Ruling The Roost; Motilal Oswal Reiterates Buy With A Revised Target Price Of Rs 1,015

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