Apl Apollo dispels economic gloom by registering 61% jump in profit in FY 2020

APL Apollo’s sales volume also improved by 22% to 1.6 mn tons in FY 2020

New Delhi, July 15, 2020: APL Apollo Tubes Limited (APL Apollo), India’s leading branded structural steel tube manufacturer has registered spectacular growth in FY 2020 even while the market sentiments remained downbeat due to economic slowdown. In its financial results for the quarter and full year ended March 31, 2020, APL Apollo has reported 61% jump in its net profit to Rs 2.4bn in FY 2020.

Not only this, but APL Apollo’s ROE has also jumped to 20.5% from 16.5% which shows that the company has huge growth potential. The company’s EBITDA figure also increased by 23% to Rs 5bn and its sales volume improved by 22% to 1.6 mn tons in FY 2020.

Mr. Sanjay Gupta, CMD, APL Apollo said, “APL Apollo has continued its strong performance despite an increasingly challenging market scenario and we have been able to significantly increase our net profit, besides improving sales volume. We remained focussed on strengthening our product portfolio by increasing the share of innovative and high-margin value-added branded products, apart from launching new products for our valued customers. We look forward to continue the growth momentum on the back of our ability to foresee opportunities in this competitive environment.”

The last couple of years have been the borne testimony to the dominance of APL Apollo in branded structural steel tubes segment. APL Apollo is looking to strengthen its pan-India presence on the back of the growing popularity of its state-of-the-art product range. As per the plans, APL Apollo is in the process of launching several new products in the coming months. APL Apollo is constantly moving up the ladder with its strong pan-India network of fabricators and dealers.

Corporate Comm India (CCI Newswire)