Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Apollo Pipes concludes strategic acquisition of manufacturing unit in Bengaluru

Posted On: 2019-07-18 15:04:34

Apollo Pipes Limited (Apollo Pipes), among the top 10 leading piping solution providing Company in India, today announced that it has completed the acquisition of Kisan Mouldings Ltd's 9,000 MTPA production unit in Bengaluru. The acquisition, which had been approved by the Company's Board of Directors in May 2019, has been concluded for a consideration of below Rs. 30 crore.

Spread over 7 acres, the facility offers scope for further expansion for Apollo Pipes in the future. In the near-term, the Company plans to incur a nominal capex to upgrade and evaluate opportunities for debottlenecking of existing facilities.

Commenting on the development, Mr. Sameer Gupta, Managing Director of the Company said, "I am pleased to announce that we have concluded the strategic acquisition of Kisan Mouldings Ltd's manufacturing unit based in Bengaluru, which will jump-start our entry into the southern markets. This facility is an integral part of our long-term vision to emerge as a PAN India player.

We have begun this year on a healthy note by registering 20% volume growth in Q1 FY20. With macros improving for our industry along with the planned capacity additions at existing facilities and the latest facility in south, the Company should close the year on a much stronger note."

The acquired facility is equipped with manufacturing lines for uPVC pipes, which is Apollo Pipes' key product segment. This acquisition in the south gives the Company a head start in its long-term plan to establish a PAN India presence. In addition, the brand recall of the group among distributors and customers is very strong in the southern markets and is synonymous with high-quality and reliability. Apollo Pipes would look to efficiently leverage this positive brand image to drive reach and volumes. It also targets to bring in higher cost efficiencies in the operations of the acquired plant. This should enable the Company to turnaround the performance of the facility leading to an attractive payback period of less than 3 years.

Shares of Apollo Pipes Ltd was last trading in BSE at Rs.398.9 as compared to the previous close of Rs. 398.55. The total number of shares traded during the day was 16209 in over 72 trades.

The stock hit an intraday high of Rs. 400 and intraday low of 393.4. The net turnover during the day was Rs. 6476230.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

CNG supply, CNG-run vehicles and D-PNG supply launched in Ranchi

Insilco Ltd announces shut down of plant on high inventory

Ind-Ra revises rating outlook of Dynamatic Technologies Ltd

US FDA Inspection at Alkem's two manufacturing facilities

Cupid Ltd receives order of Rs. 4.95 crores

Trident Limited won 'Madhya Pradesh State Level 8th Kaizen Competition' Award

Supershakti Metaliks Ltd Board approves 1:1 Bonus Issue

Advik Laboratories Ltd to sell plant to pay for OTS with Indian Overseas Bank

Galaxy Surfactants' 'Aapda Rahat' CSR project extend flood relief aid to 1,000 families in Sangli

NHPC signs agreement with Assam Government for 2000 MW Hydro Power Project

NCL Industries Ltd to form JV in China

ICRA reaffirms ratings of Endurance Technologies Ltd

Bandhan Bank launches credit cards, in partnership with Standard Chartered Bank

IFFCO to invest Rs. 262.15 crore in Triumph Offshore Pvt. Ltd.

Wockhardt Ltd receives GMP compliance certificate for Ankleshwar unit

Thomas Cook India brings Domestic Tourism to the forefront

Hindustan Oil Exploration Company Ltd clarifies on stake sale by KMPs

Maruti Suzuki to proactively recall 40,618 WagonR (1 litre) vehicles

Sundaram-Clayton Ltd's plants to work only for 5 days in a week

Nilkamal Bito Storage Systems Pvt Ltd is now wholly owned subsidiary of Nilkamal Ltd

TVS Motor Company supports flood-affected states across India

Ishan Dyes & Chemicals Ltd allots 47,03,447 shares on rights basis

63 moons wins MPID case in Bombay HC, Court rules NSEL is not financial establishment

Brickwork Ratings revises ratings of Sical Logistics Ltd

TCS iON IntelliGem to Help School Students Build 21st Century Skills

Glenmark Pharmaceuticals receives ANDA approval for Fulvestrant Injection, 250 mg/5 mL (50 mg/mL)

Ethos Ltd opens new store at Phoenix Maret City, Velachery, Chennai

MEP Infrastructure Developers receives LOA for BOT project

India Ratings Places Shree Renuka Sugars on RWN

Infosys and University of Illinois Urbana-Champaign Enter a Strategic Partnership for Precision Medicine

Dabur India Ltd updates on new step down Subsidiary Company

Bimetal Bearings Ltd announces re-alignment of production

Amazon to acquire 49% in Future Coupons Ltd

Pidilite unveils state-of-the-art adhesive manufacturing plant in Bangladesh

HDFC Bank Ltd appoints Mr. Srinivasan Vaidyanathan as CFO

New Version of TCS iCMC™ Solution to Help Enterprises Accelerate their Cloud Journey

Kamdhenu Ltd starts partial manufacturing operations at paints factory, Alwar

Shreeji Translogistics Ltd Board to consider Interim Dividend & Bonus Issue

5paisa Capital Ltd allots shares on rights basis

KIOCL contributes to Chief Minister's relief fund

CARE downgrades ratings of Shivam Autotech Ltd

Commercial Syn Bags Ltd Board approves Dividend of Rs. 0.80

CRISIL revises outlook on long-term rating of BHEL

Gillette India Ltd appoints Mr. Gagan Sawhney as Additional Director

JK Super Cement announces association with Dabang Delhi as Team Title sponsor in Pro Kabaddi League 2019

Federal Bank Ties Up with Lulu Money, Hong Kong to Offer Instant Money Transfer to India

ITC Sunfeast Cup returns to Ladakh for an exciting second edition

Premier Ltd announces OTS of Rs. 31.17 crore for pending dues with Corporation Bank

Celebrity Fashions Ltd completes sale of property at GST Road, Chennai for Rs. 17 crores

Lupin launches Fluoxetine Tablets USP on receipt of US FDA approval







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019