APL Apollo Tubes Limited (APL Apollo), India's leading branded structural steel tube company, has announced today its sales volume performance for Q4FY23. The Company registered sales volume of 649,726 Ton in Q4FY23. This is the highest quarterly sales volume reported by the company.
For FY23, the company reported sales volume of 2,279,846 ton compared to 1,754,963 ton in FY22. This was supported by recently commissioned New Raipur plant which contributed sales volume of 166,993 ton. The ramp-up of New Raipur plant is on expected lines. The capacity utilization was 28% in Q4FY23 with sale volume of 71,637 ton.
The contribution from general segment was slightly higher at 44% in FY23 due to strong demand-pull from rural housing. However, APL Apollo's strategy of de-commoditization is intact. The sales mix will improve in coming years with rising contribution of innovative products. We are encouraged to see strong sales growth in the heavy structural steel tubes. The sales mix should eventually move towards 75% for value added products.
Record Q4 and FY23 Sales Volumes
- Q4FY23 Sales Volume of 649,726 Ton (+18% YoY / +7% QoQ)
- FY23 Sales Volume of 2,279,846 Ton (+30% YoY)
The products from New Raipur plant are reclassified into APL Apollo's exiting product portfolio. The super heavy sections are manufactured from 500x500mm tube mill. The coated products belong to roofing material and innovative thicker color coated sheets. Rest of the material is classified into rust proof and light structures.
Shares of APL Apollo Tubes Limited was last trading in BSE at Rs. 1203.80 as compared to the previous close of Rs. 1205.60. The total number of shares traded during the day was 15899 in over 1477 trades.
The stock hit an intraday high of Rs. 1217.25 and intraday low of 1190.70. The net turnover during the day was Rs. 19178787.00.