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Apollo Pipes Limited Q1 FY2020 PAT higher by 12% to Rs. 10 crore

Posted On: 2019-08-12 22:02:11

Apollo Pipes Limited, among the top 10 leading piping solution providing Company in India, announced its financial results for the quarter ended June 30, 2019.

Financial Performance Highlights

Performance Review for Q1 FY20 vs. Q1 FY19

- Sales Volume greater by 20% to 13,953 tons from 11,639 tons
- Net Revenues higher by 16% to Rs. 117 crore compared to Rs. 101 crore
- EBITDA increases by 16%, at Rs. 15 crore
- Net Profit after Tax up by 12% to Rs. 10 crore compared to Rs. 9 crore

Commenting on the Company's performance for Q1 FY2020, Mr. Sameer Gupta, Managing Director, Apollo Pipes said, "We have begun the year on an encouraging note despite a subdued marco operating environment. During the quarter, our sales volume grew by 20% to 13,953 MTPA. The growth was primarily driven by healthy demand for uPVC, HDPE products and cPVC pipes. Furthermore, increased contribution from the high-margin Fittings segment also assisted sales and profitability performance during the quarter.

On the operational front, I am happy to share that we have concluded the strategic acquisition of Kisan Mouldings Ltd's manufacturing unit based in Bengaluru. The plant is equipped with manufacturing lines for both our key product segments of uPVC and cPVC pipes. Spread over 7 acres, the facility further offers scope for future expansion. In sync with this, we are currently evaluating plans to expand manufacturing operations of our other value-added product segment of 'Fittings' at this facility. Manufacturing of our three key product segments at this facility, we believe, will help us address and capture demand in the high-potential southern markets, while also strengthening our brand and distribution reach. We are also making healthy progress and are on-track with our brownfield expansion plans in facilities in Dadri, UP and Ahmedabad, Gujarat.

Overall, we believe, with steady improvement in macros, we are well positioned to capitalize on the enormous growth potential across the Indian market. Further, the planned capacity additions at existing facilities and the latest facility in south should enable us to deliver a strong sales momentum in fiscal year 2020."

Shares of Apollo Pipes Ltd was last trading in BSE at Rs.371.35 as compared to the previous close of Rs. 345.4. The total number of shares traded during the day was 5829 in over 149 trades.

The stock hit an intraday high of Rs. 373.5 and intraday low of 340.05. The net turnover during the day was Rs. 2108144.

Source: Equity Bulls

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