APL Apollo Tubes Q4 Review - Strong Operating Performance: Systematix

Aluminum pipes are arranged for a photograph in Tokyo, Japan. (Photographer: Tomohiro Ohsumi/Bloomberg).

APL Apollo Tubes Q4 Review - Strong Operating Performance: Systematix

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Systematix Research Report

APL Apollo Tubes Ltd.’s Q4 FY21 revenue/Ebitda/profit after tax grew 37%/72%/110% YoY to Rs 25.9 billion/Rs 2.1 billion/Rs 1.2 billion driven by better realisations (though below expectations) and cost control measures.

Revenue was 6% below our estimate of Rs 27.6 billion and Ebitda was above our expectation of Rs 2 billion.

Volumes grew 9% YoY to 435-kilo tonne and net sales realisation improved 26% YoY to Rs 59/kilogram.

The average hot-rolled coil price for the quarter was Rs 55,650/tonne (up 48% YoY).

Ebitda/tonne grew 58% YoY to Rs 4,742.

Excluding-Apollo Tricoat Tubes Ltd., Ebitda/tonne increased 60% YoY to Rs 4,218.

Click on the attachment to read the full report:

Systematix APL Apollo - Q4FY21 Result Update.pdf

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