Apollo Pipes PAT higher by 48% yoy at Rs14.1cr in Q2

"We are also progressing on our brownfield expansion plans at the three plants of Dadri, Ahmedabad and Tumkur," Sameer Gupta added.

Oct 25, 2021 04:10 IST India Infoline News Service

Apollo Pipes Limited, among the top 10 leading piping solution providing Company in India, announced its financial results for the quarter and full year ended Sept 30, 2021.

Performance Review for Q2FY22 vs. Q2FY21
• Sales Volume higher by 18% to 14,518 tons from 12,268 tons
• Revenue higher by 69% to Rs. 208.2 crore compared to Rs.123.3 crore
• EBITDA higher by 67% to Rs. 26 crore as compared to Rs.15.5 crore
• Net Profit after Tax up by 48% to Rs. 14.1 crore compared to Rs. 9.5 crore

Commenting on the Company’s performance for Q2 & H1FY22, 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 quarterly sales volume grew by 18% YoY to 14,518 MTPA and half year sales volume grew by 9%, 24,920 tons 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, Tumkur and Raipur 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 our Greenfield facility at Raipur is now operationalized as per our commitment. 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 each at Tumkur and Raipur. 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,” Sameer Gupta added.

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