Hot Pursuit     13-May-24
APL Apollo declines after Q4 PAT falls 16% YoY to Rs 170 crore
APL Apollo Tubes slipped 1.65% to Rs 1509 after the company reported 16% fall in net profit to Rs 170.4 crore on a despite an 8% increase in revenue to Rs 4765.7 crore in Q4 FY24 as compared with Q4 FY23.

The company’s sales volume increased by 4% YoY to 679 thousand tons during the period under review.

On the expenditure side, raw material costs added up to Rs 4132.6 crore, employee costs aggregated to Rs 70 crore and other expenses added up to Rs 282.7 crore in the fourth quarter.

While EBITDA fell by 13% to Rs 280.4 crore, EBITDA per ton declined by 17% to Rs 4,132 in Q4 FY24 over Q4 FY23.

For FY24, APL Apollo has reported net profit and total income of Rs 732.4 crore (up 14% YoY) and Rs 18,118.8 crore (up 12% YoY), respectively.

Sanjay Gupta, Chairman, APL Apollo, said: “The Q4FY24 performance was slightly weak as demand got impacted ahead of general elections and ongoing slowdown in retail spending.

The company had to offer extra discounts to its clients to push up sales volume. However, we are encouraged to see strong sales growth in our value-added product portfolio such as the heavy structural steel tubes and coated products.

After almost a year since its greenfield commissioning, the Raipur plant is set to enter a new phase of accelerated production while maintaining the highest standards of efficiency and reliability.

APL’s strategic expansion of its Dubai facility not only strengthens the company's global presence but also enhances its capacity to serve clients across international markets. The initial results are encouraging with good response from global steel tube distributors for APL Apollo's products.”

APL Apollo Tubes is India’s leading structural steel tube manufacturer. The company operates 11 manufacturing facilities with a total capacity of 5 million tons. The company’s multi-product offerings include over 2,500 varieties for multiple building material structural steel applications.

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