Apollo Pipes Q3 Review - Higher Value Added Product’s Contribution To Improve Profitability: Yes Securities

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Yes Securities Report.Apollo Pipes Ltd., reported highest ever quarterly volumes of 18,011 tonne, a growth of 44% YoY (on low base) and stellar 16.5%QoQ growth. Volume growth was driven by strong demand from plumbing segment backed by healthy demand from agriculture segment. Amidst the falling PVC prices in Oct‐Nov-22, company largely maintained its average selling price on sequential basis at Rs 131/kg (versus Rs 152/kg in Q3 FY22), owing to higher contribution from value‐added products.However, Ebitda margins were under pressure on account of higher other expenses as % sales which came in at 11.5% in Q3 FY23 versus 9.9% in Q3 FY22. Apollo Pipes reiterated their three‐year vision to grow revenue by more than 30%‐35% compound annual growth rate. In order to cater the growing demand, Apollo Pipes will expand their capacities in North and set‐up new lines for value‐added products and increase their footprints in domestic markets. The focus on increasing the contribution of value‐added products will enable the company to improve their profitability. Additionally, company is expanding their product portfolio to 2,500 plus units from current 1,500 plus..Click on the attachment to read the full report:.Apollo Pipes Q3 Results Review - Strong Volumes To Sustain; Margins To Normalise From Q4: Systematix.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Apollo Pipes Q3 Review - Higher Value Added Product’s Contribution To Improve Profitability: Yes Securities

Apollo Pipes reiterated their three‐year vision to grow revenue by more than 30%‐35% compound annual growth rate.

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