APL Apollo Tubes net profit increases 110% yoy to Rs120cr; Stock trades 4.5% higher
The company’s sales volume rose by 9% yoy to 435 k tons in Q4FY21 compared to 401 k tons in Q4FY20.
The company’s sales volume rose by 9% yoy to 435 k tons in Q4FY21 compared to 401 k tons in Q4FY20. Company’s EBITDA up by 72% to Rs2.1bn. EBITDA per ton was Rs4,742 (+58% yoy). Interest Cost declined by 40% to Rs143mn. Net Profit as up by 110% to Rs1.2 bn.
During FY21, Sales Volume as higher by 0.4% to 1.6 Mn tons. Revenue increased 10% to Rs85 bn. EBITDA higher by 42% to Rs6.8 bn. EBITDA per ton was Rs4,138 (+42% yoy). Net Profit up by 51% to Rs3.6bn. Net debt declined to Rs1.6 bn from Rs7.9 bn.
Toards close of trade on Thursday, APL Apollo Tubes Ltd. was selling at Rs1,328.80 up by Rs56.8 or 4.47% from its previous closing of Rs1,272 on the BSE. 1327.75 +55.75 (+4.38%). It hit a day's high of Rs1355 per piece during intraday trade on Thursday.
“APL Apollo Tubes Ltd is the dominant leader in Indian structural steel tube industry. FY21 was the most challenging year in our history due to COVID-19 pandemic. I feel proud of the way Team APL Apollo has executed a strong business continuity plan focused on Health, Cost and Cash throughout FY21. With our continuous focus on working capital and cost efficiencies, the company has emerged stronger from this situation,” Sanjay Gupta, Chairman, APL Apollo, said.
“We performed better on all fronts in FY21: 1) EBITDA increased 42% and Net profit increased 51% despite flat sales volume growth, 2) Net debt declined 80% to Rs1.6bn and, 3) Net working capital cycle improved to 8days from 25days. The fiscal FY22 started on a strong note but was immediately hit by pandemic once again and brought our country to halt by Mid-April. However, the situation has started to improve slowly which gives good visibility for the rest of FY22,” Gupta added.