BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
APL Apollo Tubes Ltd. has been able to premiumise steel structural tubes through constant capacity expansion, quality control, expansion of its product portfolio, brand marketing campaigns, and constant engagement with influencers (i.e. fabricators and architects).
In its journey to a dominant 50% market share in India’s four million tonnes per annum structural steel tubes market, APL Apollo Tubes has become a near net debt free entity, generating consistent free cashflows and reduced its working capital to eight days.
Company is undertaking a volume expansion, which will take its capacity to 4 mtpa by FY24-FY25.
This would harmonise with the management’s vision of the structural steel market size growing towards 8-10mtpa in the medium term.
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