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Published on 4/05/2021 5:16:53 PM | Source: Angel Broking Ltd

Apollo Pipes Ltd - Q4 FY21 Result Update by Mr. Amarjeet Maurya, Angel Broking

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Below are Views On Apollo Pipes Ltd - Q4 FY21 Result Update by Mr. Amarjeet Maurya - AVP - Mid Caps, Angel Broking Ltd

For Q4FY21, Apollo Pipes Ltd (APL)’s net sales grew by ~85% to Rs174cr on back of strong volume  growth of 34% yoy to 12,987 tons. The revenue growth was driven by a healthy contribution from the cPVC, HDPE pipe and value-added product segment of Fittings. During the quarter, EBITDA stood at ~Rs27cr and EBITDA margins (at 15.5%) improved by 434 bps on back of high margin sales and cost-optimization measures. Net Profit is grew by ~169%  to Rs17cr due to strong sales and better operting margin. Overall 4QFY21, results are above expectation. Hence, we are positive on stock.

 

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