Apollo Pipes Ltd posts PAT of Rs. 8.75 crore in Q1FY22

Apollo Pipes Ltd has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.139.03 crores during the period ended June 30, 2021 as compared to Rs.176.67 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.8.75 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.16.63 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.6.67 for the period ended June 30, 2021 as compared to Rs.12.69 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 139.03 crs	₹ 176.67 crs	-21.31%
Net Profit	₹ 8.75 crs	₹ 16.63 crs	-47.38%
EPS	₹ 6.67	₹ 12.69	-47.44%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.139.03 crores during the period ended June 30, 2021 as compared to Rs.94.64 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.8.75 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.2 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.6.67 for the period ended June 30, 2021 as compared to Rs.1.53 for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 139.03 crs	₹ 94.64 crs	46.9%
Net Profit	₹ 8.75 crs	₹ 2 crs	337.5%
EPS	₹ 6.67	₹ 1.53	335.95%

Commenting on the Company's performance for Q1FY22, Mr. Sameer Gupta, Managing Director, Apollo Pipes said, "We have reported a linear performance during the quarter due to country wide Pandemic and sluggish domestic demand. During the quarter, our quarterly sales volume declined marginally by 2% YoY to 10,402 MTPA. However, our Cost-optimization measures and improved contribution from the high-margin fittings segment resulted in a better gross margin performance during the quarter.

From an operational standpoint, our existing manufacturing facilities at Dadri, Ahmedabad and Tumkur are operating at steady utilization levels and we remain confident of further improving it to the optimal levels in the quarters ahead. I am also happy to share that the plan to operationalize our Greenfield facility at Raipur is advancing well. We are also progressing on our brownfield expansion plans at the three plants of Dadri, Ahmedabad and Tumkur. In addition, our latest range of Water Storage Tanks are seeing strong acceptance in the domestic market and accordingly, we have already doubled the capacity for this product at our plant in Sikandrabad (Dadri) and also commissioned 1 unit at Tumkur. So, on the whole, the planned capacity additions should enable us to deliver improved sales momentum, going forward.

Looking ahead, the various pro-growth measures undertaken by the Government, especially in the rural, infrastructure and agricultural space should lead to better demand and consumption of our products in the domestic market over the medium-to-longer term. We are confident that once the macro-situation normalizes, we should be able to deliver strong and sustainable growth, going forward."

Shares of Apollo Pipes Ltd was last trading in BSE at Rs. 1197.95 as compared to the previous close of Rs. 1162.3. The total number of shares traded during the day was 48934 in over 6083 trades.

The stock hit an intraday high of Rs. 1219.45 and intraday low of 1138.95. The net turnover during the day was Rs. 57884209.

Source : Equity Bulls

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