Dec 02, 2022 04:01 PM
Plastic products Apollo Pipes announced Q2FY23 results:
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.”
|Sep 19, 2022||Dividend||10|
|Dec 02, 2021||Bonus||2:1|
Apollo Pipes Limited, (formerly known as Amulya Leasing and Finance Ltd),incorporated on December 9, 1985 is engaged in the manufacturing and trading of PVC Pipes and Fittings.
37 Hargobind Enclave, Vikas Marg, New Delhi, New Delhi, 110092
Beetal Fin.&Computer Ser.P Ltd
|AGM Date (Month)||:||Sep|
|Face Value Equity Shares||:||10|
|Market Lot Equity Shares||:||1|
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