Sales Volume declined by 24% to 10,633 tonne. Q1FY21 sales volume figures are for period '28 April 2020 to 30 June 2020' as the company had shut its operations in April 2020 owing to COVID 19 pandemic. The company has announced setting up of new manufacturing facility in Raipur, Chhattisgarh to mark Pan-India presence 

Other income fell 10% to Rs 2.14 crore. Interest cost was Rs 2.11 crore compared to Rs 1.21 crore. Depreciation rose 31% to Rs 3.35 crore. PBT fell 79% to Rs 2.87 crore.  

Tax expense was down 78% to Rs 87 lakh. Net profit fell 80% to Rs 2 crore.

Performance for year ended Mar'20 

For year ended Mar'20, net sales rose 13% to Rs 407.96 crore compared to corresponding previous year period. Operating margins of the company rose 60 bps to 11.4% leading a 18% increase in operating profit to Rs 46.35 crore.  

In FY20, volumes stood at 44,692 MTPA, delivering a steady growth of 12% YoY

Other income fell 16% to Rs 10.13 crore. Interest cost was Rs 6.07 crore compared to Rs 5.94 crore. Depreciation rose 31% to Rs 12.7 crore. PBT before EO as a result rose 6% to Rs 37.72 crore. The company had nil EO items during the quarter compared to EO expense of Rs 1.68 in the corresponding previous year period related to loss due to fire at its Dadri plant on November 27, 2017. PBT after EO was up 11% to Rs 37.72 crore. Tax expense was down 8% to Rs 9.19 crore. Net profit rose 19% to Rs 28.53 crore.  

The company expects to gradually ramp up manufacturing capacities and enhance plant efficiencies, once the current situation stabilizes. While the demand outlook over the long-term is expected to remain robust, the company is still assessing the likely impact on FY21 performance owing to the broad-based disruption in a seasonally important quarter

Commenting on the Company's performance for Q1 FY2021, Mr. Sameer Gupta, Managing Director, Apollo Pipes said, "The Q1FY21 performance was impacted due to disruption from COVID-19 and consequential lockdown restrictions. The month of April 2020 was almost a total closure impacting revenue & EBITDA for the quarter with recovery in May & June. I am proud of the way Team Apollo Pipes executed a strong business continuity plan focused on Health, Cost and Cash. The company resumed its operations with strict health and safety protocols. 

In the near-term, our focus is towards synchronizing the ramp-up in production capacities and stabilizing supply chains once the macro-situation normalizes. We have also instituted many cost rationalization initiatives and optimum working capital measures to conserve cash flows and ensure steady profitability

during this challenging period. We believe there should be a gradual bounce back in consumer sentiment driven by steady restoration of the economy and normalcy in daily day-to-day activities. As an organization, Apollo Pipes remains solid with a strong cash position. Over the longer term, our growth strategy continues to be towards driving volumes by ramping-up utilization at new and existing facilities, increasing contribution from value-added products, and improving our distribution network to emerge as a PAN-India player". 

Promoter shareholding fell to 52.08% at the end of June'20 quarter compared to 52.03% in Mar20 quarter. No promoter shares were pledged. 

The scrip is trading at Rs 328 at BSE