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Apollo Pipes Ltd reports net profit of Rs. 16.33 crores in Q3 FY2020-21

Posted On: 2021-01-16 02:38:28 (Time Zone: Arizona, USA)


Apollo Pipes Ltd has reported financial results for the period ended December 31, 2020.

Financial Results (Q3 FY20-21) - QoQ Comparison

The company has reported total income of Rs.129.91 crores during the period ended December 31, 2020 as compared to Rs.125.23 crores during the period ended September 30, 2020.

The company has posted net profit / (loss) of Rs.16.33 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.9.50 crores for the period ended September 30, 2020.

The company has reported EPS of Rs.12.46 for the period ended December 31, 2020 as compared to Rs.7.25 for the period ended September 30, 2020.

FinancialsQ3 FY20-21Q2 FY20-21% Change
Total Income₹ 129.91 crs₹ 125.23 crsUp Tick 3.74%
Net Profit₹ 16.33 crs₹ 9.50 crsUp Tick 71.89%
EPS₹ 12.46₹ 7.25Up Tick 71.86%

Financial Results (Q3 FY20-21) - YoY Comparison

The company has reported total income of Rs.129.91 crores during the period ended December 31, 2020 as compared to Rs.102.89 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.16.33 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.6.66 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.12.46 for the period ended December 31, 2020 as compared to Rs.4.60 for the period ended December 31, 2019.

FinancialsQ3 FY20-21Q3 FY19-20% Change
Total Income₹ 129.91 crs₹ 102.89 crsUp Tick 26.26%
Net Profit₹ 16.33 crs₹ 6.66 crsUp Tick 145.2%
EPS₹ 12.46₹ 4.60Up Tick 170.87%

Financial Results (9 Months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.349.79 crores during the 9 months period ended December 31, 2020 as compared to Rs.321.32 crores during the 9 months period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.27.83 crores for the 9 months period ended December 31, 2020 as against net profit / (loss) of Rs.22.31 crores for the 9 months period ended December 31, 2019.

The company has reported EPS of Rs.21.23 for the 9 months period ended December 31, 2020 as compared to Rs.15.40 for the 9 months period ended December 31, 2019.

Financials9 Months ended FY20-219 Months ended FY19-20% Change
Total Income₹ 349.79 crs₹ 321.32 crsUp Tick 8.86%
Net Profit₹ 27.83 crs₹ 22.31 crsUp Tick 24.74%
EPS₹ 21.23₹15.40Up Tick 37.86%

Commenting on the Company's performance for Q3 & 9M FY2021, Mr. Sameer Gupta, Managing Director, Apollo Pipes said, "We have reported an encouraging performance during the quarter led by a robust uptick in consumption in the domestic markets. During the quarter, our sales volume grew by 7% to 11,445 MTPA, driven by a healthy contribution from the cPVC, HDPE pipe and value-added product segment of Fittings. Cost-optimization measures and improved contribution from the high-margin fittings segment further resulted in a better gross margin performance during the quarter.

From an operational standpoint, our existing manufacturing facilities at Dadri, Ahmedabad and Tumkur are operating at steady utilization levels and we remain confident of further improving it to the optimal levels in the quarters ahead. I am also happy to share that the plan to operationalize our Greenfield facility at Raipur is advancing well and we remain on track to commission this facility by March 2021. We are also progressing on our brownfield expansion plans at the three plants of Dadri, Ahmedabad and Tumkur. In addition, our latest range of Water Storage Tanks are seeing strong acceptance in the domestic market and accordingly, we have already doubled the capacity for this product at our plant in Sikandarabad (Dadri) and also commissioned 1 unit at Tumkur. So, on the whole, the planned capacity additions should enable us to deliver improved sales momentum, going forward.

Looking ahead, the various pro-growth measures undertaken by the Government, especially in the rural, infrastructure and agricultural space should lead to better demand and consumption of our products in the domestic market over the medium-to-longer term. We are confident that once the macro-situation normalizes, we should be able to deliver strong and sustainable growth, going forward."

Shares of Apollo Pipes Ltd was last trading in BSE at Rs.736 as compared to the previous close of Rs. 743.3. The total number of shares traded during the day was 8563 in over 806 trades.

The stock hit an intraday high of Rs. 799 and intraday low of 728.75. The net turnover during the day was Rs. 6342415.


Source: Equity Bulls

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