APL Apollo Tubes Ltd. share price target

Top-line increased due to higher realization amid lower sales volume: On the back of around 44.9% Y-o-Y rise in the realization of core branded products, APL reported a 11.5% Y-o-Y increase in the top-line to Rs. 13,158.7mn. Demonetization (DeMo) led to lower sales volume of core products, which declined by 10.8% Y-o-Y to 0.23mn tonnes in Q4 FY17. Black and GI pipes sales was severely impacted and declined by 43.5% and 12.9% Y-o-Y, respectively. On an annual basis, top-line increased by 7.9% (lowest in last five years) to Rs. 45,450mn. Sales volume of core products and realization increased by 4.2%...