APL Apollo 9MFY12 Gross Sales up 53% to Rs. 1055.1 crore Net profit up at Rs. 31.45 crore

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) February 9, 2012 -- APL Apollo Tubes Ltd, a leading manufacturer and exporter of steel pipes and tubes, today announced its third quarter performance for the period ended December 31, 2011.

9MFY12 Performance (Consolidated basis)
• Company has achieved highest volume growth of ~ 225000 tons during the first nine months ended December 2011.
• Gross sales during the first nine months is up by 53% at Rs 1055.1 crore as compared to Rs 687.6 crore in the corresponding period last year.

• EBIDTA is up 28% at Rs 76.6 crore as against Rs 59.8 crore in the corresponding nine months ended December, 2010
• Net profit for the period stood at Rs 31.45 crore as against Rs 28.72 crore during the corresponding period last year and EPS (not annualised) for the period ended December 31, 2011 stood at Rs. 15.49.
• Growth in volume is continued by higher productivity at southern location and burgeoning demand from infrastructure projects.
• Company has made strong inroads to new industry sectors like Telecom, Solar and Wind energy during the current year.

Q3FY12 Performance (Consolidated basis)

• Gross Sales for the quarter ended December 31, 2011 has risen by 40 % at Rs 380.92 crore as against Rs 271.86 crore in the corresponding period last year.
• EBIDTA increased to Rs. 26.06 crore as compared to Rs. 24.24 crore in Q3FY11. Net profit for the quarter ended December, 2011 stood at Rs. 10.01 crore.
• Increasing raw material prices and interest rates having restricted the growth in operating and net profits in recent quarters.

Developments during the quarter
• The company has become the largest producer and supplier of ERW Pipes and Tubes in India.
• The company has developed a pan India presence and newer applications which has helped growth.

• The Company opened 3 new warehouse-cum-branches at Mumbai, Ahmedabad and Kanpur and further strengthened its own distribution network.
• The company shares got listed and admitted to dealings on the Bombay Stock Exchange (BSE) under direct listing platform w.e.f. December 5, 2011 (earlier the shares were permitted to trade under BSE Indonext segment) and National Stock Exchange of India Ltd (NSE) w.e.f. December 14, 2011.
• Debottlenecking of manufacturing facility in Murbad, near Mumbai is complete, expansion plans are on schedule.

Management Comment

Commented Mr Sanjay Gupta, Chairman and Managing Director, “Current quarter has been a very challenging period on back of tough demand conditions in the user segments and high material costs. Our pursuit for growth through size and geographical presence has started yielding fruition. With additional focus on expanding product range and newer markets, we look forward to a rewarding period ahead.”

About APL Apollo Tubes Limited

Incorporated in 1986, APL Apollo is one of the largest ERW pipe manufacturers in India with 5 manufacturing locations spreading in northern, southern and western part inter-alia provide ability to produce the largest range of Hollow Sections and Mild Steel Tubes in all variants (black, galvanised and pre-galvanised). Among the user industries are urban infrastructure namely airports, metro stations, automotive segment like bus body manufacturers, construction namely scaffoldings, etc. The Company has certifications like ISO 9001-2008, OHSAS 18001-2007 & ISO 14001-2004 and safety certifications like 'CE' & 'UL' for Europe and USA.

9MFY12     APL Apollo Tubes Ltd     Rs. 31.45 crore