ICRA upgrades Apollo Pipes to A1, outlook Stable

What happened

Apollo Pipes (APOLLOPIPE) told the exchanges on 31 October 2026 at 11:37 AM that ICRA has upgraded its credit rating to A1 with a stable outlook, covering facilities or instruments of about ₹150 crore.

Company snapshot

Apollo Pipes is a small-cap company, with a market value of about ₹2,397 crore.

The stock last traded at ₹544.3, against a 52-week range of ₹252.1–₹668.8 (18.6% below the high).

Before this filing the shares had moved +4.4% over the month and +9.8% over three months. Average daily turnover over the last 20 sessions was about ₹10.42 crore.

Promoters held 51.72% at the end of Q1 FY27. Foreign institutions owned 2.54% and domestic institutions 7.20%.

What history shows

BCEIE's records show 1 previous credit rating filing from the company since May 2026.

Market-wide, 1,365 credit rating filings with an impact score of 50 or more saw an average next-day move of +0.1%, with 46% rising.

Past reactions describe what happened before; they are not a forecast.

What to watch

• Whether other agencies take a similar view on the company's credit.
• 5 November 2026: Board meeting — Financial Results.

In the news

Recent coverage elsewhere (links open the original publisher):

• Apollo Pipes Ltd. Estimates – NSE:APOLLOPIPE — TradingView, 23 Oct 2026
• Kitara PIIN 2401 raises Apollo Pipes stake to 8.35% via warrant conversion — scanx.trade, 22 Oct 2026
• Apollo Pipes APOLLOPIPE Allots 20 Lakh Shares on Warrant Conversion — Kalkine India, 17 Oct 2026
• Apollo Pipes Allots 20 Lakh Equity Shares to Kitara PIIN 2401 Following ₹82.50 Crore Preferential Warrant Conversion — EquityBulls, 17 Oct 2026

Source

• Exchange filing (PDF)