Top Pipe Stocks Compared: Astral vs Supreme Industries vs Finolex Industries vs APL Apollo Tubes vs Welspun Corp on Price, Valuation, Q2 FY27 Results and Risks
- November 10, 2026
- Posted by: Ankit Jaiswal
- Category: Best Stocks
Previous close: Astral Rs 1,260.00, Supreme Industries Rs 3,220.00, Finolex Industries Rs 146.37, APL Apollo Tubes Rs 2,186.00, Welspun Corp Rs 2,245.80.
Quick Answer
This pipe stocks compared snapshot checks five names on price, valuation and Q2 FY27 results: Astral, Supreme Industries, Finolex Industries, APL Apollo Tubes and Welspun Corp. APL Apollo Tubes is the largest by market capitalisation at Rs 60,532 crore. APL Apollo Tubes reports the highest return on equity at 22.82%. Plastic and steel pipe makers face different cost drivers, so read each multiple against its own raw material.
Pipe stocks compared here means Astral, Supreme Industries, Finolex Industries, APL Apollo Tubes and Welspun Corp on one page, checked on previous close, market value, valuation and the latest quarterly numbers. The group covers plastic pipes, steel tubes and large-diameter steel pipes, so a side-by-side look shows how differently each one earns from the same pipe demand.
All five pipe companies have filed their September 2026 quarter, so every result below is Q2 FY27. Pipe demand follows housing, water and infrastructure spending, so a glance at the BSE 500 page and the Sensex page before you read the tables gives useful backdrop.
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Pipe Stocks Compared: Plastic and Steel Pipe Makers
The pipe stocks compared here are Astral, Supreme Industries, Finolex Industries, APL Apollo Tubes and Welspun Corp. APL Apollo Tubes is the largest by market capitalisation at Rs 60,532 crore. Previous closes run from Rs 146.37 for Finolex Industries to Rs 3,220.00 for Supreme Industries, which is why a side-by-side look at value rather than price is more useful. This pipe stocks compared list is the base for every table that follows.
| Stock | Previous close (Rs) | Market cap (Rs crore) |
|---|---|---|
| Astral | 1,260.00 | 34,186 |
| Supreme Industries | 3,220.00 | 41,792 |
| Finolex Industries | 146.37 | 8,978 |
| APL Apollo Tubes | 2,186.00 | 60,532 |
| Welspun Corp | 2,245.80 | 58,055 |
A quick look at the business behind each ticker puts the numbers in context. Astral is a leading maker of plastic pipes and fittings, with an adhesives business, while Supreme Industries makes plastic pipes, moulded products and packaging items. Finolex Industries makes PVC pipes and fittings and also produces PVC resin, and APL Apollo Tubes is the largest maker of structural steel tubes in the country. To compare pipe stocks properly, line up price to earnings, return on equity and debt to equity before forming a view.
Rounding out the group, Welspun Corp makes large-diameter steel pipes for oil, gas and water projects. A fair pipe stock comparison looks at what each company actually earns from, not only at the share price. Plastic pipe makers and steel pipe makers belong in separate mental boxes whenever you compare pipe stocks fairly.
Pipe Stocks Valuation: Premium Multiples and Returns
Finolex Industries trades at the lowest price to earnings ratio in this group at 14.80. APL Apollo Tubes reports the highest return on equity at 22.82%. Finolex Industries has the lowest price to book value at 1.19. These pipe stocks valuation readings come from the previous close and the latest reported financials. That is the idea behind this pipe stocks compared table: price to earnings and return on equity sit side by side so a high or low reading stands out at once.
| Stock | Price to earnings | Price to book | ROE (%) | Dividend yield (%) | Debt to equity |
|---|---|---|---|---|---|
| Astral | 60.17 | 8.07 | 13.40 | 0.20 | 0.08 |
| Supreme Industries | 36.98 | 6.54 | 17.68 | 1.09 | 0.01 |
| Finolex Industries | 14.80 | 1.19 | 8.03 | 1.89 | 0.02 |
| APL Apollo Tubes | 46.21 | 10.55 | 22.82 | 0.39 | 0.17 |
| Welspun Corp | 24.49 | 5.46 | 22.29 | 0.23 | 0.10 |
Pipe stocks usually trade at premium price to earnings multiples when volumes and demand from housing and water projects are strong. Return on equity and debt to equity help you judge whether a premium is earned and how comfortably capacity expansion is funded. Earnings per share and book value per share are the building blocks behind price to earnings and price to book, so a glance at both in each filing is time well spent. A simple pipe stock comparison like this one is only as useful as the context behind it, which is why debt to equity is worth checking as well.
In this group, price to earnings runs from 14.80 for Finolex Industries to 60.17 for Astral. Finolex Industries offers the highest dividend yield at 1.89%. Industry price to earnings readings differ by sub-sector: Astral, Supreme Industries and Finolex Industries at 32.69; APL Apollo Tubes and Welspun Corp at 42.98. The industry price to earnings is a handy anchor: a pipe stock above it is priced for faster growth, and one below it is priced for steadier earnings. A well-built pipe stock comparison also notes that resin and steel prices can move margins between quarters. Run the same pipe stock comparison on your own watchlist and the pattern in these numbers will be easier to spot.
Pipe Stocks Q2 FY27 Results: Revenue and Profit Check
All of the five pipe stocks compared have filed Q2 FY27 numbers. Supreme Industries posted the fastest revenue growth at 39.9% year on year. Supreme Industries showed the sharpest rise in net profit at 59.3%. Read revenue first and quarterly profit second, since the two together show how much of the growth reaches shareholders. Treat the Q2 FY27 numbers in this pipe stocks compared review as a snapshot of one quarter, not a verdict on any pipe maker.
| Stock | Q2 FY27 revenue (Rs crore) | Q2 FY26 revenue (Rs crore) | Q2 FY27 net profit (Rs crore) | Q2 FY26 net profit (Rs crore) |
|---|---|---|---|---|
| Astral | 2,000 | 1,589 | ||
| Supreme Industries | 3,370 | 2,409 | 262.4 | 164.7 |
| Finolex Industries | 1,149 | 916.5 | ||
| APL Apollo Tubes | 7,042 | 5,556 | 382.4 | 301.5 |
| Welspun Corp | 4,699 | 4,409 | 495.1 | 443.5 |
Astral Results Snapshot
Astral reported Q2 FY27 revenue of Rs 2,000 crore, compared with Rs 1,589 crore a year earlier, a rise of 25.9%.
Supreme Industries Results Snapshot
In the September 2026 quarter, Supreme Industries booked revenue of Rs 3,370 crore against Rs 2,409 crore in the same quarter last year, a rise of 39.9%. Net profit rose 59.3% to Rs 262.4 crore from Rs 164.7 crore. Operating margin expanded to 14.0% from 13.7% a year ago. Earnings per share for the quarter rose to Rs 20.66 from Rs 12.97.
Finolex Industries Results Snapshot
Finolex Industries’ Q2 FY27 top line stood at Rs 1,149 crore, versus Rs 916.5 crore in Q2 FY26, a rise of 25.4%.
APL Apollo Tubes Results Snapshot
APL Apollo Tubes reported Q2 FY27 revenue of Rs 7,042 crore, compared with Rs 5,556 crore a year earlier, a rise of 26.7%. Net profit rose 26.8% to Rs 382.4 crore from Rs 301.5 crore. Operating margin expanded to 9.1% from 8.8% a year ago. Earnings per share for the quarter rose to Rs 13.61 from Rs 10.86.
Welspun Corp Results Snapshot
In the September 2026 quarter, Welspun Corp booked revenue of Rs 4,699 crore against Rs 4,409 crore in the same quarter last year, a rise of 6.6%. Net profit rose 11.6% to Rs 495.1 crore from Rs 443.5 crore. Operating margin expanded to 17.7% from 16.5% a year ago. Earnings per share for the quarter rose to Rs 18.89 from Rs 16.68.
Pipe results depend on volumes, resin and steel prices and inventory effects, so profit can look different from revenue in a single quarter. That is why a pipe stock comparison works best when revenue and profit are read together across two or three quarters. Used this way, a pipe stocks compared review becomes a map of the sector rather than a price list. When you compare pipe stocks after each result season, track how debt to equity changes from one quarter to the next. A pipe stock comparison built on one quarter of data is a starting point, and the next set of results will update it.
Pipe Stocks Compared Two at a Time: Three Pairings
Readers rarely want a five-way table and nothing else, so here are three head-to-head reads drawn from the same data. Use them as a quick way to compare pipe stocks two at a time.
Astral vs Supreme Industries
Astral and Supreme Industries are two of the best-known makers of plastic pipes, with large distributor networks across the country. The two are close in size, with market capitalisations of Rs 34,186 crore for Astral and Rs 41,792 crore for Supreme Industries. On price to earnings, Supreme Industries carries the lower multiple at 36.98 against 60.17 for Astral. Supreme Industries reports the higher return on equity, at 17.68% against 13.40% for Astral. Both are adding capacity and products, so read growth next to valuation before you judge either multiple.
Finolex Industries vs Astral
Finolex Industries makes PVC pipes and also produces its own resin, while Astral focuses on pipes, fittings and adhesives. On price to earnings, Finolex Industries carries the lower multiple at 14.80 against 60.17 for Astral. Astral reports the higher return on equity, at 13.40% against 8.03% for Finolex Industries. For dividend income, Finolex Industries offers 1.89% against 0.20% at Astral. An integrated maker and a branded specialist earn differently, so read the business mix before you read the ratio.
APL Apollo Tubes vs Welspun Corp
APL Apollo Tubes makes structural steel tubes for buildings, while Welspun Corp makes large-diameter steel pipes for oil, gas and water projects. APL Apollo Tubes reports the higher return on equity, at 22.82% against 22.29% for Welspun Corp. For dividend income, APL Apollo Tubes offers 0.39% against 0.23% at Welspun Corp. In Q2 FY27, APL Apollo Tubes grew revenue faster, at 26.7% year on year against 6.6% for Welspun Corp. Structural tubes and line pipes follow different demand cycles, so read the business model before you read the ratio.
Best Pipe Stocks for Each Type of Investor
Searching for the best pipe stocks usually means different things to different readers. The table below shows who leads on each measure today, so you can pick the row that matches your goal. Any pipe stocks compared table can mislead if you stop at one row, because each pipe maker leads on a different measure.
| If you care most about | Start your research with | The number |
|---|---|---|
| Lowest price to earnings | Finolex Industries | 14.80 |
| Highest return on equity | APL Apollo Tubes | 22.82% |
| Highest dividend yield | Finolex Industries | 1.89% |
| Lowest price to book value | Finolex Industries | 1.19 |
| Largest by market capitalisation | APL Apollo Tubes | Rs 60,532 crore |
| Fastest Q2 FY27 revenue growth | Supreme Industries | 39.9% |
| Sharpest Q2 FY27 net profit rise | Supreme Industries | 59.3% |
No single name tops every row, which is exactly why a pipe stock comparison helps. Scale, returns, payouts and valuation each point to a different company, so decide what matters most to you before you rank the numbers.
What Is Driving Demand for Pipes Right Now?
Housing, water supply, farm irrigation and construction projects drive demand for pipes, and buyers are shifting from unbranded to branded products. Steel tubes gain from structural use in buildings, while large pipes gain from oil, gas and water projects. Knowing what moves resin and steel prices helps you compare pipe stocks with the right questions in mind.
Volumes, resin and steel prices and distribution reach decide profit for pipe makers. Companies with strong brands and dealer networks can pass on cost changes more easily. A good pipe stocks compared routine therefore tracks volumes, resin and steel prices, distribution reach and operating margin.
Risks to Weigh When You Compare Pipe Stocks
Pipe stocks depend on PVC resin and steel prices, housing and construction demand and inventory effects. Price swings can move margins from one quarter to the next. Read each filing for volume and margin commentary before you compare them. Every pipe stock comparison has blind spots, and for this group the biggest is resin and steel prices.
Because volumes, resin and steel prices, distribution reach and operating margin drive these businesses, the most useful habit is to read the management commentary that comes with every result and note what is expected for the next quarter. Read together, the risk notes and the tables make this pipe stocks compared guide a balanced starting point.
How to Compare Pipe Stocks and Build a Shortlist
Start by deciding whether you want plastic pipes, structural steel tubes or large-diameter pipes, because each responds to different triggers. Plastic pipe names reward readers who track housing and irrigation demand, while steel pipe names reward those who track project orders. Done step by step, this pipe stocks compared routine becomes repeatable rather than a one-off exercise.
Then check valuation and debt, because premium multiples leave less room for slips and new capacity is funded with capital. Spreading your attention across one plastic pipe maker and one steel pipe maker is a simple way to see both sides of the sector. Keep the shortlist of best pipe stocks short enough that you can actually follow each company’s quarterly results. When you compare pipe stocks again after new results, update only the rows that changed instead of starting over.
The Univest stock screener lets you filter pipe stocks by market capitalisation, return on equity and price to earnings, and the app keeps live prices a tap away through the trading day. Come back to this pipe stocks compared page after the next set of results to see which numbers have moved.
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Conclusion: Pipe Stocks Compared at a Glance
This pipe stocks compared review on price, valuation and Q2 FY27 results shows that no single name wins every measure. APL Apollo Tubes leads on both size and return on equity, though the others bring strengths of their own. Treat the pipe stocks Q2 FY27 results and pipe stocks valuation tables as a research starting point, then check the filings and speak to a SEBI-registered advisor before you invest. If you plan to compare pipe stocks again next quarter, the same checklist of price to earnings, return on equity and debt to equity will work.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions on Pipe Stocks Compared
Which are the top pipe stocks compared in this article?
Ans. The pipe stocks compared in this article are Astral, Supreme Industries, Finolex Industries, APL Apollo Tubes and Welspun Corp. They are checked on previous close, market capitalisation, price to earnings, price to book, return on equity and the latest quarterly results, which gives you one tidy table to work from before you read any filing in detail.
Which pipe stock has the highest market capitalisation?
Ans. Among the five names, APL Apollo Tubes has the highest market capitalisation at Rs 60,532 crore. Welspun Corp follows at Rs 58,055 crore. Because market capitalisation is simply share price multiplied by shares outstanding, it shifts daily, so confirm the live number before using it.
Which of these pipe stocks has the lowest price to earnings ratio?
Ans. On pipe stocks valuation, Finolex Industries has the lowest price to earnings ratio among these pipe stocks at 14.80, based on the latest reported earnings. Astral sits at the other end at 60.17. A low multiple can reflect slower growth or higher risk as easily as a bargain, so read it next to growth and margins.
Which pipe stock has the highest return on equity?
Ans. APL Apollo Tubes reports the highest return on equity in this group at 22.82%. The ratio measures profit earned for every rupee of shareholder money, which makes it a quick test of capital efficiency. One year can mislead, so look at several, and remember that borrowing can push the figure up.
How did pipe stocks perform in Q2 FY27 results?
Ans. All of the five names have filed Q2 FY27 numbers in our data. Supreme Industries recorded the fastest revenue growth at 39.9% year on year. Supreme Industries showed the sharpest net profit rise at 59.3%. For pipe stocks Q2 FY27 results, each filing on the exchange website carries the full detail behind these figures.
What are the main risks when you compare pipe stocks?
Ans. Pipe stocks depend on PVC resin and steel prices, housing and construction demand and inventory effects. Price swings can move margins from one quarter to the next. Read each filing for volume and margin commentary before you compare them. Keep an eye on volumes, resin and steel prices, distribution reach and operating margin.
Which metrics matter most when you compare pipe stocks?
Ans. Volume growth, resin and steel prices, distribution reach and operating margin matter most for operating performance. Price to earnings, return on equity and debt to equity show how the market values each company and how expansion is funded. Read each company’s filing for these along with the numbers in this article.
Which is the best pipe stock to buy among these five?
Ans. The best pipe stock depends on whether you value plastic pipes, structural tubes or large-diameter pipes, because the five names differ on all three. On the numbers in this article, APL Apollo Tubes has the largest market capitalisation as well as the highest return on equity; Finolex Industries has the lowest price to earnings as well as the highest dividend yield. Each name wins on a different row, and this is educational content rather than advice. Build a shortlist from the tables, read the latest filings, and talk to a SEBI-registered advisor, because your own goals and risk appetite decide the right fit.
