Apollo Pipes Q4 Review - Expect Healthy Topline Growth But Ebitda/kg To Be Capped, Assign Add: Yes Securities

Yes Securities Report

Apollo Pipes Ltd. registered a benign performance in Q4 FY24 wherein volume growth stood at 10%YoY (lower versus other peers), largely driven by sluggishness in project segment. Average selling price for the quarter stood at Rs 120/kg versus Rs 117/kg in previous quarter and Ebitda/kg came in at Rs 12 versus Rs 10.7% in Q3 FY24.

Working capital days improved significantly to 23-days in FY24 versuus 56-days in FY23. During the quarter, company acquired 54% stake in KISAN Mouldings Ltd. for a consideration of Rs 1.2 billion giving Apollo Pipes a strong presence in west India.

Company has announced its foray into O-PVC and windows segment for which Apollo Pipes will set-up capacity 11,500 te by FY26E. The agri-plumbing mix for Apollo Pipes stood at 45%-55% and B2B constituted 10% of sales.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit 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 NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.