APL Apollo Tubes (APL Apollo), India's largest structural steel tube company, is honored to announce that this year marks the monumental 37th anniversary for the company as an industry leader and innovator. Since the company's inception in 1986, APL Apollo has developed pioneering products that have transformed the market landscape, setting the bar with innovative solutions for the customers, latest technologies in steel tube manufacturing and best industry practices related to consumerization of structural steel tubes in Indian markets.
Team APL Apollo is thrilled to be celebrating 37 years of excellence and wishes to express its profound gratitude and appreciation to the channel partners and all stakeholders who played their role in APL Apollo's success story.
On this occasion, we are proud to announce that the company has signed MoUs with its top distributors for sale of 2.4mn tons of structural steel tubes in FY24. This gives us enough confidence to achieve our sales targets for the current financial year. These MoUs do not include sale from exports division, OEM division and sale of coated products from new Raipur plant, which are newly launched.
We are equally thankful to our raw material suppliers who have supported APL Apollo to achieve heights in the steel downstream industry. Our main suppliers have assured of even stronger support for FY24 to enable APL Apollo to run its operations smoothly and efficiently.
We also dedicate our success to the thousands of employees and shareholders who have reposed faith in the management of APL Apollo and the board members who have guided us. With strong operating cash flow generation and completion of Capex cycle, the management is focused towards improving shareholder reward as per the board approved policies.
APL Apollo looks towards the next 25 years to not only develop additional technologies but also to expand upon the value that it can add to steel construction industry in India.
Shares of APL Apollo Tubes Limited was last trading in BSE at Rs. 1102.60 as compared to the previous close of Rs. 1093.65. The total number of shares traded during the day was 202684 in over 5985 trades.
The stock hit an intraday high of Rs. 1117.20 and intraday low of 1046.55. The net turnover during the day was Rs. 217013096.00.