Plastic products company Apollo Pipes announced Q1FY24 results: Sales volume higher by 47% to 21,219 tonnes from 14,406 tonnes in Q1FY23 Revenue increased by 19% to Rs 260.3 crore compared to Rs 218.9 crore in Q1FY23 EBITDA increased by 31% to Rs 26.2 crore as compared to Rs 20 crore in Q1FY23 Net profit increased by 58% Rs 13.9 crore compared to PAT of Rs 8.8 crore in Q1FY23 Commenting on the company’s performance for Q1FY24, Sameer Gupta, Chairman cum Managing Director, Apollo Pipes said, “We have reported record quarterly sales volume during the quarter with a growth of 47% YoY to 21,219 tons and, on the back of resilient operational improvement and improved demand from consumers across segments. We continue to make strong inroads across cPVC, HDPE pipe, and value-added product segments. Moving on to the operational front, the management continues to keep a strong focus on value-added products on the building products side, which continue to gain traction. We remain confident that this product along with our other value-added offerings like fittings, solvents, bath fittings, adhesives, taps, and faucets will enhance our reach and strengthen sales, going forward. In addition, we are aiming towards optimally utilizing our capacities over the next coming years, which will also help augment sales volumes, going ahead. Looking ahead, the various pro-growth measures undertaken by the Government, especially in the rural, infrastructure and agricultural space should lead to better demand and consumption of our products in the domestic market over the medium-to-longer term." Result PDF
Conference Call with Apollo Pipes Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
Plastic products company Apollo Pipes announced Q4FY23 & FY23 results: Q4FY23 vs Q4FY22: Sales volume higher by 14% to 18,685 tonnes from 16,409 tonnes Revenue increased by 2% to Rs 252 crore compared to Rs 247 crore EBITDA increased by 4% to Rs 29 crore as compared to Rs 28 crore Net profit at Rs 15 crore compared to PAT of Rs 16 crore FY23 vs FY22: Sales volume higher by 24% to 66,567 tonnes from 53,849 tonnes Revenue increased by 17% to Rs 915 crore compared to Rs 784 crore EBITDA decreased by 27% to Rs 68 crore as compared to Rs 93 crore PAT at Rs 24 crore compared to PAT of Rs 50 crore Commenting on the company’s performance for Q4 & FY23, Sameer Gupta, Chairman cum Managing Director, Apollo Pipes, said, “We have reported strong performance during the quarter with our sales volume growing by 14% YoY to 18,685 tonnes and FY23 sales volume grew by 24%, 66,567 tonnes, on the back of resilient operational improvement and improved demand from consumers across segments. We continue to make strong inroads across cPVC, HDPE pipe, and value-added product segments. The company did an annual capex of 71 crores towards enhancement of capacities, debottlenecking, and adding balancing equipment majorly into cPVC, HDPE pipes, and fittings. Moving on to the operational front, the management continues to keep a strong focus on value-added products on the building products side, which continue to gain traction. We remain confident that this product along with our other value-added offerings like fittings, solvents, bath fittings, adhesives, taps, and faucets will enhance our reach and strengthen sales, going forward. In addition, we are aiming towards optimally utilizing our capacities over the next coming years, which will also help augment sales volumes, going ahead. Looking ahead, the various pro-growth measures undertaken by the government, especially in the rural, infrastructure, and agricultural space should lead to better demand and consumption of our products in the domestic market over the medium-to-longer term. I would like to state that we are continuously working towards enhancing our presence across existing and new high-potential geographies. As we further improve our operation/capacity utilization of Raipur plant, we are confident to open up the untapped and high potential markets of Central and Eastern India supported by the expected positive trend in industrial growth for years ahead.” Result PDF
Conference Call with Apollo Pipes Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Plastic products manufacturer Apollo Pipes announced Q3FY23 results: Q3FY23 vs Q3FY22: Sales Volume higher by 44% to 18,011 tons from 12,520 tons. Revenue increased by 24% to Rs 237 crore compared to Rs 191 crore. EBITDA at Rs 16 crore as compared to Rs 22 crore. PAT at Rs 5 crore compared to Rs 11 crore. 9MFY23 vs 9MFY22: Sales Volume higher by 28% to 47,882 tons from 37,440 tons. Revenue increased by 23% to Rs 663 crore compared to Rs 537 crore. EBITDA at Rs 39 crore as compared to Rs 65 crore. PAT at Rs 9 crore compared to Rs 34 crore. Commenting on the Company’s performance for Q3FY23, Mr. Sameer Gupta, Managing Director, Apollo Pipes said, “The financial results for the quarter followed a sluggish quarter due to sharp correction in PVC prices, however, we were resilient with significant improvement backed by improved demand from consumers across segments. We continue to make strong inroads across cPVC, HDPE pipe and value-added product segment to report a sales volume growth of 44% YoY to 18,011 tons. The PVC scenario continue to remain bit challenging with continuous influx of lower cost imports, however the company is well positioned to sail through this trough of the cycle, as it has strong balance sheet, wide product basket and PAN India presence. The management continues to keep strong focus on value added products on the building products side, which continue to gain traction. The impact of improved capacity in earlier quarter has a visible growth. We remain confident that this product along with our other value-added offerings like fittings, solvents, bath fittings, adhesives, taps and faucets will enhance our reach and strengthen sales, going forward. In addition, we are aiming towards optimally utilizing our capacities over the next coming years, which will also help augment sales volumes, going ahead. Looking ahead, various Government initiatives, especially in the rural, infrastructure and agricultural space should lead to better demand and consumption of our products in the domestic market over the medium-tolonger term. I would like to state that we are continuously working towards enhancing our presence across existing and new high-potential geographies. As we further improve our operation/capacity utilization of Raipur plant, we are confident to open up the untapped and high potential markets of Central and Eastern India supported by the expected positive trend in industrial growth for FY23 and years ahead.” Result PDF
Plastic products Apollo Pipes announced Q2FY23 results: Q2FY23 vs Q2FY22 Sales volume higher by 7% to 15,465 tonnes from 14,518 tonnes Revenue decreased by 1% to Rs 207 crore compared to Rs 208 crore EBITDA at Rs 2.5 crore as compared to Rs 26 crore Net loss at Rs 4.8 crore compared to PAT of Rs 14.1 crore H1FY23 vs H1FY22 Sales volume higher by 20% to 29,871 tonnes from 24,920 tonnes Revenue increased by 23% to Rs 426 crore compared to Rs 346 crore EBITDA decreased by 48% to Rs 23 crore as compared to Rs 48 crore PAT at Rs 4 crore compared to PAT of Rs 23 crore Sameer Gupta, Managing Director, Apollo Pipes, said, “The financial results for the quarter had a severely adverse impact due to sharp correction in PVC prices, against higher price inventory of raw material and finished crudes. The silver lining is that correction in commodity rates could further improve demand from consumers across segments. We continue to make strong inroads across cPVC, HDPE pipe and value-added product segments to report a sales volume growth of 7% YoY to 15,465 tons. The PVC scenario continues to remain a bit challenging with a continuous influx of lower-cost imports, however, the company is well positioned to sail through this trough of the cycle, as it has a strong balance sheet. The management continues to keep a strong focus on value-added products on the building products side, which continue to gain traction. The impact of improved capacity in the earlier quarter has a visible growth. We remain confident that this product along with our other value-added offerings like fittings, solvents, bath fittings, adhesives, taps and faucets will enhance our reach and strengthen sales, going forward. In addition, we are aiming to optimally utilise our capacities over the coming years, which will also help augment sales volumes. Looking ahead, various Government initiatives, especially in the rural, infrastructure and agricultural space should lead to better demand and consumption of our products in the domestic market over the medium to longer term. I would like to state that we are continuously working towards enhancing our presence across existing and new high-potential geographies. As we further improve our operation/capacity utilisation of the Raipur plant, we are confident to open up the untapped and high potential markets of Central and Eastern India supported by the expected positive trend in industrial growth for 2022-23 and years ahead.” Result PDF
Conference Call with Apollo Pipes Management and Analysts on Q1FY23 Performance and Outlook. Listen to the full earnings transcript.
Apollo Pipes Announced Q1FY23 Result : Sales volume higher by 38% YoY to 14,406 Tons EBITDA increased by 15% YoY to Rs. 20.0 crore PAT remained flat YoY at Rs. 8.8 crore Sales Volume higher by 38% to 14,406 tons from 10,402 tons Revenue higher by 59% to Rs. 218.9 crore compared to Rs.137.6 crore EBITDA higher by 15% to Rs. 20.0 crore as compared to Rs.17.4 crore Net Profit after Tax was flat at Rs. 8.8 crore Commenting on the Company’s performance for Q1FY23, Mr. Sameer Gupta, Managing Director, Apollo Pipes said, “We have reported a robust performance Y-o-Y during the quarter albeit lower base. Our sales volume increased by 38% YoY to 14,406 tons driven by a healthy contribution from the cPVC, HDPE pipe and valueadded product segment of Fittings. The Q-o-Q performance was impacted because the industry witnessed channel de-stocking due to correction in global PVC prices. The company incurred a capex of Rs 36 crores during Q1FY23 towards enhancement of capacities, debottlenecking and adding balancing equipment majorly into cPVC, HDPE pipes and fittings. The management continue to keep strong focus on value added products on the building products side, which continue to gain traction. The impact of improved capacity in earlier quarter has a visible growth. We remain confident that our value-added offerings like fittings, solvents, bath fittings, adhesives, taps and faucets will enhance our reach and strengthen sales, going forward. In addition, we are aiming towards optimally utilizing our capacities over the next coming years, which will also help augment sales volumes, going ahead. Looking ahead, various Government initiatives, especially in the rural, infrastructure and agricultural space should lead to better demand and consumption of our products in the domestic market over the medium-tolonger term. I would like to state that we are continuously working towards enhancing our presence across existing and new high-potential geographies. As we further improve our operation/capacity utilization of Raipur plant, we are confident to open up the untapped and high potential markets of Central and Eastern India supported by the expected positive trend in industrial growth for 2022-23 and years ahead.” Result PDF
Conference Call with Apollo Pipes Management and Analysts on Q4FY22 Performance and Outlook. Listen to the full earnings transcript.
Plastic Products firm Apollo Pipes declares Q4FY22 result: Sales volume higher by 26% YoY to 16,409 Tons EBITDA increased by 5% YoY to Rs. 28.4 crore PAT declined by 6% YoY to Rs. 15.6 crore Performance Review for Q4FY22 vs. Q4FY21 Sales Volume higher by 26% to 16,409 tons from 12,987 tons Revenue higher by 42% to Rs. 247.5 crore compared to Rs.174.2 crore EBITDA higher by 5% to Rs. 28.4 crore as compared to Rs.27.0 crore Net Profit after Tax declined by 6% to Rs. 15.6 crore compared to Rs. 16.6 crore Performance Review for FY22 vs. FY21 Sales Volume higher by 14% to 53,849 tons from 47,333 tons Revenue higher 51% to Rs. 784.1 crore from Rs. 518.1 crore EBITDA higher by 26% to Rs. 93.4 crore compared to Rs. 74.3 crore Net Profit after Tax up by 12% to Rs. 49.8 crore compared to Rs. 44.5 crore Commenting on the Company’s performance for Q4 & FY22, Mr. Sameer Gupta, Managing Director, Apollo Pipes said, “We have reported strong performance during the quarter with our sales volume growing by 26% YoY to 16,409 tons and FY22 sales volume grew by 14%, 53,849 tons driven by a healthy contribution from the cPVC, HDPE pipe and value-added product segment of Fittings. The company did an annual capex of 41 crores towards enhancement of capacities, debottlenecking and adding balancing equipments majorly into cPVC, HDPE pipes and fittings. Moving on to the operational front, the management continue to keep strong focus on value added products on the building products side, which continue to gain traction. The impact of improved capacity in earlier quarter has a visible growth in sales of Rota moulded products. We remain confident that this product along with our other value-added offerings like fittings, solvents, bath fittings, adhesives, taps and faucets will enhance our reach and strengthen sales, going forward. In addition, we are aiming towards optimally utilizing our capacities over the next coming years, which will also help augment sales volumes, going ahead. Looking ahead, the various pro-growth measures undertaken by the Government, especially in the rural, infrastructure and agricultural space should lead to better demand and consumption of our products in the domestic market over the medium-to-longer term. I would like to state that we are continuously working towards enhancing our presence across existing and new high-potential geographies. As we further improve our operation/capacity utilization of Raipur plant, we are confident to open up the untapped and high potential markets of Central and Eastern India supported by the expected positive trend in industrial growth for 2022-23 and years ahead.” Result PDF