APL Apollo Tubes Limited (APL Apollo), India’s branded structural steel tube company, announced its financial results for the quarter ending December 31, 2022. The sales volume of the company was up by 50% YOY to 605K tons. The revenue expanded by 34% YOY to Rs 43.3 bn. The EBITDA increased by 35% to Rs 2.7 bn. The EBITDA per ton was Rs 4,510. The net profit of APL Apollo Tubes rose 32.30% to Rs 169.18 crore in the quarter ended December 2022 as against Rs 127.88 crore during the previous quarter ended December 2021. Sales rose 34.48% to Rs 4201.12 crore in the quarter ended December 2022 as against Rs 3123.94 crore during the previous quarter ended December 2021.
Commenting on the Q3 Results, Sanjay Gupta, Chairman, APL Apollo, in Q3FY23 said, “The Company reported highest ever quarterly sales volume and EBITDA in Q3FY23. This was supported by our continuous focus on adding value added products (VAP) to our portfolio. The VAP contributed 57% to our overall sales volume in 9MFY23. Moreover, the ramp up from our greenfield plant in Raipur will support sales volume/EBITDA growth in coming quarters. We continue to remain prudent with our working capital management which remains best in the building material sector.”
