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Yes Securities Report
Apollo Pipes Ltd. registered a strong revenue growth of 49% YoY owing to decent volume growth of 9%YoY coupled with 36%YoY increase in realizations.
On sequential basis, volumes de-grew by 14% on account of festive and prolonged marriage season in Q3 FY22. Realisation improved 6% QoQ due to price hikes taken by Apollo Pipes and better product‐mix.
With strong real estate demand and rural demand likely to pick‐up, Apollo Pipes is expected to report stellar volume growth 25% over FY21‐FY24E.
Moreover, company is gaining market share in new regions along with strengthening their footprints in north which will enable Apollo Pipes to report robust growth.
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