Apollo Pipes Q4 Results Review - Strong Growth Trajectory To Sustain: 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. registered higher quarterly volumes of 18,685 tonne (two-year compound annual growth rate 20%), a growth of 13% YoY and 4% QoQ on account of healthy demand from plumbing segment. The average selling price came in at Rs 135/kg as compared to Rs 150/Rs 131 in Q4 FY22/Q3 FY23 respectively. With better product mix and no impact of inventory gain/loss, company’s Ebitda/kg stood at Rs 16 in Q4 FY23 versus Rs 17/Rs 9 in Q4 FY22/Q3 FY23 respectively, hence Ebitda margins came in at 11.7% as against 11.5%/6.8% in Q4 FY22/Q3 FY23 respectively. Management has guided for a stellar revenue growth of 35% CAGR over coming four-years, which will be driven by 28-30% volume growth and 4-5% value growth. Apollo Pipes is focused on expanding their market share across India and hence they are planning a capex of Rs 500 billion, wherein Rs 1 billion will be for brownfield expansion of 25,000 Te (by Q4 FY24) and Rs 4 billion will be for greenfield expansion in West, South and East for setting up 125,000 Te capacity which will come-up in staggered manner. The capex will be funded via Rs 2.60 billion equity infusion and balance via internal accruals..Click on the attachment to read the full report:.Mahanagar Gas Q4 Results Review - Strong Margins Drive Earnings: HDFC Securities.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 Q4 Results Review - Strong Growth Trajectory To Sustain: Yes Securities

Apollo Pipes is focused on expanding their market share across India and hence they are planning a capex of Rs 500 billion.

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