APL Apollo Tubes Ltd began the new financial year on a sombre note. The structural steel tubes company recently released its June quarter (Q1FY27) business update, with volumes falling 6% year-on-year and 19% sequentially to 744,823 tonnes—well below the 875,000-tonne guidance given during the Q4FY26 earnings call. For perspective, Q4FY26 and FY26 volumes had grown 9% year-on-year and 10.6%, respectively.
