Apollo Pipes Q1 results: Continues to grow, reports 47% sales volume increase, 19% revenue growth, and 31% EBITDA growth

livemint.com:

Apollo Pipes Limited, a prominent piping solutions provider and one of the top 10 companies in the industry in India, has disclosed its financial results for the quarter and financial year ending on June 30, 2023. The company witnessed significant growth in various aspects during Q1FY24 compared to the same period in the previous year. In terms of sales volume, Apollo Pipes recorded a substantial increase of 47%, with sales reaching 21,219 tons, up from 14,406 tons in Q1FY23.

This boosted the company's overall revenue by 19% to ₹260.3 crore, compared to ₹218.9 crore in the corresponding period last year. Moreover, the company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) saw a robust growth of 31%, reaching ₹26.2 crore, up from ₹20 crore in Q1FY23. This improvement in EBITDA indicates enhanced operational efficiency and profitability.

Furthermore, Apollo Pipes achieved a remarkable increase of 58% in net profit, which amounted to ₹13.9 crore, compared to the previous year's PAT (Profit After Tax) of ₹8.8 crore. This significant rise in net profit highlights the company's successful financial management and overall business performance during the quarter. Apollo Pipes Limited's strong financial results for Q1FY24 demonstrate its continued growth and market position in the piping solutions industry in India.

The company's increased sales volume, revenue, EBITDA, and net profit reflect its ability to meet customer demands and capitalize on market opportunities. Apollo Pipes Limited has a current available capacity of 136,000 metric tons per annum (MTPA). The company aims to achieve a revenue growth compound annual growth rate (CAGR) of 25% or more over the next three years.