APL Apollo Tubes shares gain 5% on record sales volume in Q1FY25
ITDC: Net profit up 68% to ₹32.4 crore. Revenue down 3.8% to ₹147.8 crore. EBITDA up 62% to ₹32.4 crore. EBITDA margin at 22% from 13%.
Branded structural steel tube company APL Apollo Tubes Ltd announced record sales volume for Q1FY25 on Monday, July 1, sending its shares to rally up to 5%. The company registered the highest-ever sales volume of 7,21,064 tonnes in the June quarter (Q1FY25), surpassing the figures of 6,61,501 tonnes in Q1FY24 and 6,78,556 tonnes in Q4FY24.
This strong performance comes amid challenges posed by the general elections in the country during the quarter, said the company.
Shares of APL Apollo Tubes Ltd gained as much as 4.67% on the BSE to hit an intraday high of ₹1,628 apiece on Monday. The stock closed 3.76% higher at ₹1,613.9 apiece on the BSE.
In the first quarter of FY25, APL Apollo Tubes achieved significant milestones across its verticals.
The contribution from the value-added segment rose 60%, marking a rise from 57% in Q1FY24, and demonstrating the company’s commitment to its de-commoditisation strategy, the company informed the bourses in a filing.
Secondly, the new Raipur plant ramped up operations smoothly, achieving a capacity utilisation rate of 63% during the quarter.
The company’s Dubai plant, which commenced partial production with two operational mills in December 2023, operated at an impressive 95% capacity utilisation in Q1FY25.
With plans to add two more mills in Q2FY25, APL Apollo Tubes anticipates further strengthening its sales volume and production capabilities.
APL Apollo Tubes Ltd, headquartered in Delhi NCR, specialises in the structural steel tube manufacturing sector.
The company operates 11 manufacturing facilities with a total capacity of 3.8 million tonnes.
Its operations span across India with units located in Sikandrabad (Uttar Pradesh), Hyderabad, Bengaluru, Hosur (Tamil Nadu), Raipur (Chhattisgarh), Malur (Karnataka) and Murbad (Maharashtra). The company also operates a manufacturing unit abroad in Umm Al Quwain (UAE).
APL Apollo offers over 2,500 varieties of products for various building material structural steel applications.