Apollo Tricoat Tubes announces Q1FY21 results

Apollo Tricoat Tubes (Apollo Tricoat), an innovative home improvement Company, today announced its financial results for the quarter ending June 30, 2020.

Financial Performance Highlights

Performance Review for Q1FY21*

- Sales Volume stood at 31,923ton
- Net Revenue at Rs. 1,710mn
- EBITDA at Rs. 188mn
- EBITDA per ton stood at Rs. 5,879/ton
- Net Profit after Tax at Rs. 90mn

Commenting on the Company's performance for Q1FY21, Mr. Rahul Gupta, Chairman, Apollo TriCoat said, "Apollo Tricoat Tubes Ltd created its dominant leadership in product categories where it launched 5 brands since Q1FY20. These innovative products were successfully launched and well accepted in the markets. The Q1FY21 performance was impacted due to disruption from COVID-19 and consequential lockdown restrictions. The month of April 2020 was almost a total closure impacting revenue & EBITDA for the quarter with strong recovery in May & June.

I am proud of the way Team Tricoat has executed a strong business continuity plan focused on Health, Cost and Cash. The company has resumed its operations with strict health and safety protocols. With our continuous focus on working capital and cost efficiencies, I am confident that the company will emerge stronger from this situation."

*Note: Figures for the corresponding period last year are not comparable as the Company started commercial production gradually from Q1FY20 onwards. Also the Q1FY21 sales volume figures are for period '28 April 2020 to 30 June 2020' as the company had shut its operations in April 2020 owing to COVID 19 pandemic.

Shares of Apollo Tricoat Tubes Ltd was last trading in BSE at Rs.505.4 as compared to the previous close of Rs. 485.65. The total number of shares traded during the day was 136941 in over 1308 trades.

The stock hit an intraday high of Rs. 508 and intraday low of 480.1. The net turnover during the day was Rs. 67394315.

Source : Equity Bulls

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