Conference Call with APL Apollo Tubes Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
Iron & Steel Products company APL Apollo Tubes announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Sales volume was increased by 4% YoY/ 12% QoQ to 679k tons Revenue was increased by 8% YoY/ 14% QoQ to Rs 47.7 billion EBITDA was Rs 2.8 billion (unchanged QoQ/ 13% YoY decline) EBITDA per ton was Rs 4,132 (decreased by 17% YoY/ 11% QoQ) Net Profit was Rs 1.7 billion (up 3% QoQ/ decline by 16% YoY) FY24 Financial Highlights: Sales volume was increased by 15% YoY to 2.6 million Tons Revenue was increased by 12% YoY to Rs 181.2 billion EBITDA was increased by 17% YoY to Rs 11.9 billion EBITDA per ton was Rs 4,553 (+2% YoY) Net Profit was increased by 14% YoY to Rs 7.3 billion Sanjay Gupta, Chairman, APL Apollo, comments on Q4FY24 and FY24 results “The company has performed across financial metrics in FY24 with sales volume +15% YoY, EBITDA +17% YoY and net profit +14% YoY. The key milestone was to achieve a net cash balance sheet as on 31 March 2024. This is after the fact that the company invested Rs 23.7bn in last 4 years in its capacity expansion program. 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. The company's relentless dedication to quality and customer satisfaction has propelled it to the forefront of the industry. 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. We continue to remain prudent with our working capital management, which remains best in the building material sector.” Result PDF