Home / BUSINESS / APL Apollo Tubes surges on registering 29% rise in sales volume for Q1FY20

APL Apollo Tubes surges on registering 29% rise in sales volume for Q1FY20

APL Apollo Tubes is currently trading at Rs. 1551.25, up by 53.85 points or 3.60% from its previous closing of Rs. 1497.40 on the BSE.

The scrip opened at Rs. 1507.75 and has touched a high and low of Rs. 1567.80 and Rs. 1507.55 respectively. So far 2183 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1842.75 on 13-Aug-2018 and a 52 week low of Rs. 1009.05 on 15-Feb-2019.

Last one week high and low of the scrip stood at Rs. 1567.80 and Rs. 1490.40 respectively. The current market cap of the company is Rs. 3770.93 crore.

The promoters holding in the company stood at 37.07%, while Institutions and Non-Institutions held 13.93% and 49.00% respectively.

APL Apollo Tubes has registered a strong sales volume of 3,88,511 MTPA in Q1FY20, higher by 29% Y-o-Y from 302,054 MTPA in Q1FY19. The growth was led by strong demand in the Hollow Sections segment, DFT pipes and Pre-Galvanized Tubes (GP) among others.

The Company is witnessing healthy demand in volumes across product categories and remains confident of delivering a sales volume growth CAGR of 20% in FY20 & FY21.

APL Apollo Tubes is a leading manufacturer and exporter of Steel Pipes & Tubes, Aluminised Steel Tubes, Black Steel Tubes, Hot Dipped & Pre Galvanised Steel Tubes, Fence Tubes and Structural Steel.

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