APL Apollo Tubes Limited Records 35% Increase in Revenue and 11% in Sales Volume for H1FY19
Deepthi | Myequity news | Date : 06-11-2018 15:15:00 IST
APL Apollo Tubes Limited (APL Apollo), India’s leading branded steel tubes manufacturer, announced its financial results for the quarter and half year ended September 30, 2018.
Financial Performance Highlights
Performance Review for Q2 FY19 vs. Q2 FY18
• Sales Volume improves by 7% to 3.04 lakh tons from 2.83 lakh tons
• Net Revenues increases by 26% to Rs. 1,690.5 crore compared to Rs. 1,345.4 crore
• EBITDA1 at Rs. 86.2 crore compared to Rs. 101.3 crore
• PET at Rs. 41.0 crore as compared to Rs. 62.6 crore
• Net Profit after Tax at Rs. 26.7 crore compared to Rs. 40.7 crore
Performance Review for H1 FY19 vs. H1 FY18
• Sales Volume* improves by 11% to 6.06 lakh tons from 5.48 lakh tons
• Net Revenues increases by 35% to Rs. 3,367.0 crore compared to Rs. 2,501.0 crore
• EBITDA1 higher by 8% Y-o-Y to Rs. 194.9 crore compared to Rs. 180.0 crore
• PET at Rs. 111.9 crore as compared to Rs. 121.0 crore
• Net Profit after Tax at Rs. 73.7 crore compared to Rs. 79.6 crore
Commenting on the Company’s performance for 02 & H1 FV2019, Mr. Sanjay Gupta, Chairman, APL Apollo,
said, “We delivered a steady performance during the quarter, registering a volume growth of 7% despite external challenges such as the transporters’ strike, floods in Kerala and slowdown in construction activities due to healthy monsoon in the months of July and August. This overall impacted demand during the period under review. However, we are already witnessing revival in volumes in Q3 and are confident of increasing the momentum in H2 FY19.
0n the business front, we are happy to share that our wholly-owned subsidiary Shri Lakshmi Metal Udyog has acquired stake in Apollo Tricoat. Apollo Tricoat recently estabilshed a facility to manufacture Tricoat tubes with the global Galvant technology. These products are eco-friendly and are used as a substitute of PVC electrical Conduit Pipes. The acquisition will allow APL Apollo to penetrate the high margin coated tubes segment and further enhance its product portfolio, while also positioning the Company as a technology-led global steel tubes company.
Given our leadership position in the sector, we are well poised to leverage on host of opportunities across various sectors of the Indian economy, which should enable us to deliver healthy growth on a high base, going for war.” About APL Apollo Tubes Limited:
APL Apollo Tubes Limited (APL Apollo) is one of India’s leading branded steel products manufacturers. Headquartered at Delhi NCR, the Company operates six manufacturing facilities with a total capacity of 1.8 Million MTPA. It has a PAN-Indian presence with units strategically located in Sikandarabad (3 units), Bangalore, Hosur, Raipur and Murbad. APL Apollo’s multi-product offerings include over 500 varieties of MS Black pipes, Galvanized Tubes, Pre-alvanized Tubes, Structural ERW Steel tubes and Hollow Sections.