Metals & Mining: Q1FY24 Review
Nalco’s Revenue/EBITDA/PAT missed our estimates and dropped by 16%/32%/40% YoY and by 13%/22%/33% QoQ led by a drop in the average LME Aluminium...
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APL Apollo Tubes - Q1 Misses Our Estimates
Revenue grew by 32%/3% YoY/QoQ but missed ours and consensus estimates by 2% led by lower-than-expected sales realisation.
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Metals - Q1FY24 Earnings Preview
On a YoY basis, too, margins are expected to contract despite higher volumes YoY (on a low base) as HRC prices are now down by 15% YoY from the...
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Pick of the Week - APL Apollo Tubes
APL Apollo Tubes (APAT) is a leading structural steel tube brand, operating with 14 brands in 4 product categories. It has 55% market share in...
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APL Apollo Tubes - Structural Growth Story Continues; Maintain BUY
Despite a higher share of general products (46% vs. 44% QoQ), EBITDA/t improved to Rs 4,970/t (up 3%/10% YoY/QoQ) a 2% beat vs. consensus.
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