Net revenue increased by 17% year-over-year to Rs 4,630.4 crore during the period under review. Sales volume for the second quarter was 675 thousand tons as compared with 602 thousand tons recorded in the corresponding period last year, up 12% YoY.

On the expenditure front, raw material costs aggregated to Rs 3,978.4 crore (up 14% YoY), employee costs added up to Rs 62.7 crore (up 34% YoY) and other expenses amounted to Rs 264.2 crore (up 22% YoY) in Q2 FY24.

While EBITDA improved by 40% to Rs 325 crore, EBITDA per ton jumped by 25% to Rs 4,817 in the July-September quarter of 2023-24.

Profit before tax in Q2 FY24 stood at Rs 276.7 crore, up by 37% from Rs 202.3 crore in Q2 FY23.

Sanjay Gupta, Chairman, APL Apollo, said: “The company reported highest ever quarterly sales volume, EBITDA and PAT in Q2FY24. This was supported by our continuous focus on adding value added products (VAP) in our portfolio. The VAP contributed 55% to our overall sales volume in Q2FY24. 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.

The ramp-up of New Raipur plant is on expected lines. APL Apollo’s strategy of de commoditization is intact. The sales mix will improve further in coming quarters with rising contribution of innovative products. We are encouraged to see strong sales growth in the heavy structural steel tubes. The sales mix should eventually move towards 70% for value added products.”

APL Apollo Tubes is India’s leading structural steel tube manufacturer. The company operates 11 manufacturing facilities with a total capacity of 5 million tons. The company’s multi-product offerings include over 2,500 varieties for multiple building material structural steel applications.

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