Iron & Steel products company APL Apollo Tubes announced Q2FY24 results: Sales volume up by 12% YoY to 675k tons Revenue expanded by 17% YoY to Rs 46.3 billion EBITDA increased by 40% YoY to Rs 3.3 billion EBITDA per ton was Rs 4,817 (+25% YoY) Net Profit increased by 35% YoY to Rs 2.0 billion Sanjay Gupta, Chairman, APL Apollo, comments on Q2FY24 results, “The Company reported highest ever quarterly sales volume, EBITDA and PAT in Q2FY24. This was supported by our continuous focus on adding value-added products (VAP) to our portfolio. The VAP contributed 55% to our overall sales volume in Q2FY24. Moreover, the ramp-up from our greenfield plant in Raipur will support sales volume/EBITDA growth in the coming quarters. We continue to remain prudent with our working capital management which remains best in the building material sector. The ramp-up of the New Raipur plant is on expected lines. APL Apollo’s strategy of decommoditization is intact. The sales mix will improve further in coming quarters with the rising contribution of innovative products. We are encouraged to see strong sales growth in the heavy structural steel tubes. The sales mix should eventually move towards 70% for value-added products. “ Result PDF