Apollo Tubes’ FY 24 sales volume up by 15%

Apollo Tubes’ FY 24 sales volume up by 15%

Q4FY24 Sales Volume of 6, 78,556 Ton, up 4% YoY, 12% QoQ

  • By ICN Bureau | April 01, 2024

APL Apollo Tubes Limited (APL Apollo), the World's largest branded structural steel tube company, today announced its sales volume performance for Q4FY24. The company registered a sales volume of 6, 78,556 Ton in Q4FY24 which is the highest quarterly sales volume reported by the company.

For FY24, the company reported sales volume of 26, 18,477 Ton, an increase of 15% YoY. This was supported by the newly commissioned New Raipur and Dubai plants. The capacity utilizationfor the New Raipur plant was almost 50% in Q4FY24 as a few lines had just got commissioned.

The initial results from Dubai plant are encouraging with solid response from global steel tube distributors for APL Apollo's products.

The contribution from value-added segment has increased to 58% in FY24 from 56% last year.

APL Apollo’s strategy of de-commoditization is intact. Over the last 2 years, APL Apollo’s sales volume has increased by 22% CAGR (FY22-24) supported by adoption of newly launched innovative products. We expect expansion of construction led demand in the country post general elections to further boost APL Apollo’s sales volume.

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