Apollo Pipes Limited has released the transcript of its Q3 and 9-month FY'26 post-results earnings conference call, which was held on January 30, 2026. The call featured management including Mr. Sameer Gupta (Chairman and Managing Director), Mr. Arun Agarwal (Joint Managing Director), Mr. Ajay Kumar Jain (CFO), and Mr. Anubhav Gupta (Group Chief Strategy Officer), with Mr. Manish Mahawar from Antique Stock Broking moderating. During the call, the management discussed the challenging market conditions faced in the first 9 months of FY'26, including weak end-user demand, volatile raw material prices, and market oversupply. Despite sales volumes being flat against expectations of double-digit growth, the company noted that its strategy to gain market share began showing results in December and continued into January, with confidence in a strong Q4 sales performance. The company is focusing on new product additions like PLB ducts, DWC pipes, PE gas pipes, and CPVC pipes, and has entered the UPVC doors and windows segment. The Varanasi plant is expected to commence operations in the next month, strengthening presence in Eastern India, while the West India facility is ready for optimal utilization. CAPEX incurred was ₹125 crore in 9 months of FY'26, with a commitment to expand total installed capacity to 2,86,000 tons over two years without adding debt. Discussions also covered demand scenarios, PVC price volatility, volume targets for FY'26 and FY'27, geographical demand, government infrastructure spending, and capacity expansion plans. The company expects Q4 FY'26 volumes to be strong, potentially leading to high single-digit volume growth for the full fiscal year. Management expressed confidence in achieving volume targets for FY'27, supported by new plant operations and product diversification. The company also clarified details regarding warrant conversions and its strategy to increase the housing plumbing segment's contribution to its sales mix.
