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Follow on Google News | APL Apollo FY12 Gross Sales up 55% to Rs. 1525.11 croreAPL Apollo Tubes Ltd, a leading manufacturer and exporter of steel pipes and tubes, announced its performance for the year ended March 31, 2012.
By: India PR Wire New Delhi/Mumbai, 14 May, 2012: APL Apollo Tubes Ltd, a leading manufacturer and exporter of steel pipes and tubes, today announced its performance for the year ended March 31, 2012. FY12 Performance (Consolidated basis) •Despite tough economic conditions, Company has achieved highest volume of ~3,00,000 tons during the year ended March 31, 2012. The pickup in off-take was largely due to demand from new industry sectors like telecom, solar and wind power, among others and extension of geographical reach. •Gross sales for FY12 is up by 55% at Rs 1525.11 crore as compared to Rs 985.15 crore in FY11. •EBIDTA is at Rs 114.56 crore as against Rs 89.45 crore in the corresponding year ended March 31, 2011. •Net profit for the period stood at Rs 49.01 crore as against Rs 43.09 crore during the corresponding period last year and EPS for the period ended March 31, 2012 stood at Rs. 23.01 as against Rs 21.23 in FY11. •Despite pressure on prices of steel tubes, company has been effectively able to mitigate the situation through its judicious product mix and larger off-take of pre-galvanised steel tubes and hollow sections, premium product segment. Cost efficiency measures helped company to contain the rise in interest charges arising out of higher working capital requirements. Q4FY12 Performance (Consolidated basis) •APL Apollo reported highest Gross Sales of Rs 465.01 crore for the quarter ended March 31, 2012, up by 57% on YoY basis. •EBIDTA increased to Rs. 38.01 crore as compared to Rs. 28.96 crore in Q4FY11. •Net profit for the quarter has risen to Rs 17.56 crore as against Rs 14.22 crore in the corresponding period last year. Developments during the quarter •The company continues to be the largest producer and supplier of ERW Pipes and Tubes in India. •The increase in price realisation of steel tubes and value-added product mix has led to an improvement in margins as compared to last three quarters. •Completion of debottlenecking at Murbad, near Mumbai has aided in increased operational efficiency and higher production. The new line at the facility is nearing completion. •During the quarter, APL Apollo has increased sales through own warehouses. In volume terms, dispatches are on rising trend. Company opened a new warehouse-cum- Management Comment Speaking on the performance of the company, Mr Sanjay Gupta, Chairman commented “Current year has been significant for us as it tested our managerial capability in terms of maintaining healthy volumes and financial growth. Our industry has witnessed tough demand conditions in the user segments and high material costs. Pursuit for growth through size and geographical presence and demand from newer segments such as solar power sector, telecom and urban infra projects should bode well for us in the current year as well.” About APL Apollo Tubes Limited Incorporated in 1986, APL Apollo is one of the largest ERW pipe manufacturers in India with 5 manufacturing locations spreading in northern, southern and western part inter-alia provide ability to produce the largest range of Hollow Sections and Mild Steel Tubes in all variants (black, galvanised and pre-galvanised) For more information: K Srinivas Reddy, Mutual PR +91 98201 00538 sreddy@mutualpr.com Amit Arora, Mutual PR +91 98111 54140 amit@mutualpr.com Investors’ Desk, APL Apollo Tubes +91 120 4041400 investors@aplapollo.com End
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