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Earnings Presentation Q2 FY27 THE OF RETURNS Tube sizes 10 × 10 mm to 1,000 × 1,000 mm Wall thickness 0.5 mm to 40 mm Portfolio Largest structural steel tube product portfolio ARCHITECTURE 1
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APL APOLLO TUBES Except for the historical information contained herein, statements in this presentation and the subsequent discussions, which include words or phrases such as "will", "aim", "will likely result", "would", "believe", "may", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "contemplate", seek to", "future", "objective", "goal", "likely", "project", "should", "potential", "will pursue", and similar expressions of such expressions may constitute "forward-looking statements“. These forward looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward- looking statements. These risks and uncertainties include, but are not limited to our ability to successfully implement our strategy, our growth and expansion plans, obtain regulatory approvals, our provisioning policies, technological changes, investment and business income, cash flow projections, our exposure to market risks as well as other risks. The Company does not undertake any obligation to update forward- looking statements to reflect events or circumstances after the date thereof. Safe Harbour 2
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APL APOLLO TUBES • At A Glance • Future Ready • Business Strategy • Financial Performance • Demand Drivers • ESG Engagement • Team APL Apollo Contents Of The Report 3
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AT A GLANCE 4
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APL APOLLO TUBES A Decade Of Growth. The Numbers Say It All. Sales Volume EBITDA Net Profit 15% 16% 15% 10 Year (FY16-26) 5 Year (FY21-FY26) 2 Year (FY24-26) 22% 23% 27% 20% 28% 28% CAGR Growth (%) 5
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Note1: Sales Volume and Financials are on consolidated basis Note 2: Capital employed has been calculated as Total assets minus total current liabilities minus surplus cash Note 3: EBIT has been calculated without other income for ROCE calculation Note 4: ROCE, ROE and NWC have been annualized for FY27 on the basis of H1FY27 and Q2FY27 financials 963k Ton Sales Volume 13% YoY increase 29% QoQ increase ₹70.0Bn Revenue 34% YoY increase 25% QoQ increase ₹5.8Bn EBITDA 29% YoY increase 40% QoQ increase ₹5,999 EBITDA/ton 15% YoY increase 9% QoQ increase ₹3.8Bn Net profit 27% YoY increase 45% QoQ increase ₹524Mn Interest Cost 90% YoY increase 35% QoQ increase ₹4.5Bn Cash profit 25% YoY increase 39% QoQ increase 0 days Net WC in H1FY27 FY26 was 0 day ₹16.3Bn Net Cash in H1FY27 FY26 was ₹15.3 Bn 27.7% ROE in H1FY27 FY26 was 25.3% 39.7% ROCE in H1FY27 FY26 was 37.3% Milestones Q2FY27 6
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Note1: Sales Volume and Financials are on consolidated basis Note 2: Capital employed has been calculated as Total assets minus total current liabilities minus surplus cash Note 3: EBIT has been calculated without other income for ROCE calculation Note 4: ROCE, ROE and NWC have been annualized for FY27 on the basis of H1FY27 and Q2FY27 financials 1,708k Ton Sales Volume 4% YoY increase ₹126.1Bn Revenue 22% YoY increase ₹9.9Bn EBITDA 21% YoY increase ₹5,791 EBITDA/ton 17% YoY increase ₹6.5Bn Net profit 20% YoY increase ₹913Mn Interest Cost 50% YoY increase ₹7.7Bn Cash profit 18% YoY increase 0 days Net WC in H1FY27 FY26 was 0 day ₹16.3Bn Net Cash in H1FY27 FY26 was ₹15.3 Bn 27.7% ROE in H1FY27 FY26 was 25.3% 39.7% ROCE in H1FY27 FY26 was 37.3% Milestones H1FY27 7
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APL APOLLO TUBES Financial Snapshot 8 Profit & Loss (Rs Mn) Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Volume (k Ton) 721 758 828 850 794 855 917 925 745 963 Revenue 49,743 47,739 54,327 55,086 51,698 52,063 58,151 62,692 56,067 70,017 EBITDA 3,016 1,380 3,456 4,137 3,720 4,470 4,719 5,110 4,113 5,778 EBITDA/ton (Rs) 4,183 1,821 4,173 4,864 4,683 5,228 5,146 5,525 5,522 5,999 Net Profit 1,932 538 2,170 2,931 2,372 3,015 3,101 3,543 2,631 3,824
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9 FUTURE READY CAPEX PLAN ON TRACK
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Capacity Expansion Plan By FY28 Greenfield & Brownfield capacity Debottlenecking Total capacity 8 Mn Ton Structural Steel Existing capacity 5 Mn Ton Structural Steel 2 Mn Ton • East (Gorakhpur, Siliguri) • South (Malur) • Western coastal area 1 Mn Ton • Plant Modernization • Replacement of conventional mills with faster and more efficient mills 10
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BUSINESS STRATEGY 11
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Quarterly Sales Volume APL APOLLO TUBES Product Category (Ton) Q2FY27 Q1FY27 Q4FY26 Q3FY26 Q2FY26 Q1FY26 H1FY27 H1FY26 FY26 APL Apollo Brand 7,74,751 5,68,691 6,97,094 6,64,992 6,53,680 6,40,258 13,43,442 12,93,938 26,56,024 SG Premium Brand 26,910 58,686 90,504 87,860 38,356 14,141 85,596 52,498 2,30,862 UAE Operations 26,227 25,929 49,835 58,093 57,931 48,162 52,156 1,06,093 2,14,021 Roofing Products 1,35,255 91,516 87,447 1,06,031 1,05,071 91,788 2,26,771 1,96,859 3,90,337 Total 9,63,143 7,44,823 9,24,881 9,16,976 8,55,037 7,94,350 17,07,966 16,49,387 34,91,243 12
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APL APOLLO TUBES FINANCIAL PERFORMANCE 13
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1. Sales Volume and Financials are on consolidated basis 2. EBITDA has been calculated without other income APL APOLLO TUBES Growing Strength To Strength (QoQ) 855 917 925 745 963 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Volume (K Ton) 14 4,470 4,719 5,110 4,113 5,778 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 EBITDA (Rs Mn) 5,228 5,146 5,525 5,522 5,999 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 EBITDA/Ton (Rs) 3,015 3,101 3,543 2,631 3,824 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Net Profit (Rs Mn)
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Note1: Capital employed for ROCE is computed as Total assets less Current Liabilities& Cash Note 2: ROCE, ROE and NWC days have been annualized for FY27 on the basis of H1FY27 and Q2FY27 financials APL APOLLO TUBES 5 1 0 0 0 FY23 FY24 FY25 FY26 H1FY27 Net Working Capital Days 2.4 -0.2 -3.1 -15.3 -16.3 FY23 FY24 FY25 FY26 H1FY27 Net Debt/ (cash) (Rs Bn) Net cash Net cash Net cash Growing Strength To Strength (YoY) 15 27.7 27.5 24.5 37.3 39.7 FY23 FY24 FY25 FY26 H1FY27 ROCE (%) 23.5 22.2 19.4 25.3 27.7 FY23 FY24 FY25 FY26 H1FY27 ROE (%)
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APL APOLLO TUBES 9.7 11.2 12.1 20.0 6.8 FY23 FY24 FY25 FY26 H1FY27 Operating Cash Flow (Rs Bn) Growing Strength To Strength (YoY) 16 95 94 101 111 69 FY23 FY24 FY25 FY26 H1FY27 Op. Cash flow to EBITDA(%) 0.4 3.6 3.7 13.4 1.8 FY23 FY24 FY25 FY26 H1FY27 Free Cash Flow (Rs Bn) 87 59 54 33 60 FY23 FY24 FY25 FY26 H1FY27 Capex to Op. Cash flow (%)
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Net cash balance sheetCapex being funded from internal cash flow Business continues to generate strong operational cash flow APL APOLLO TUBES Cash Flow Bridge (Rs Mn) 17 15,323 6,827 -4,091 -28 -1,751 16,281 Net cash in FY26 Op. Cash flow Capex Investments Interest, Dividend & others Net Cash in H1FY27
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Note 1: Sales Volume and Financials are on consolidated basis Note 2: Trading revenue for Q2FY27 was Rs 2.2Bn Note 3: Re- grouping has been done for the sale of traded products of Rs 6.19 Bn in the previous quarters of FY26 (Q1FY26, Q2FY26, Q3FY26) APL APOLLO TUBES Profit & Loss Statement (Consol) 18 Particulars (Rs Mn) Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 FY26 H1FY26 H1FY27 Sales Volume (K Ton) 758 828 850 794 855 917 925 745 963 3,491 1,649 1,708 Net Revenue 47,739 54,327 55,086 51,698 52,063 58,151 62,692 56,067 70,017 2,30,790 1,03,761 1,26,084 Raw Material Costs 42,419 46,623 46,964 43,803 43,413 49,007 52,680 47,168 58,985 1,95,090 87,216 1,06,153 Employee Costs 872 899 754 930 887 926 962 1,061 1,065 3,705 1,816 2,126 Other expenses 3,068 3,350 3,232 3,245 3,293 3,499 3,940 3,725 4,189 13,977 6,538 7,914 EBITDA 1,380 3,456 4,137 3,720 4,470 4,719 5,110 4,113 5,778 18,019 8,190 9,891 EBITDA/ton (Rs) 1,821 4,173 4,864 4,683 5,228 5,146 5,525 5,522 5,999 5,161 4,966 11,521 Other Income 148 216 349 256 251 247 365 395 402 1,119 506 797 Interest Cost 364 368 323 333 276 329 317 389 524 1,254 609 913 Depreciation 469 503 576 544 581 592 593 594 659 2,309 1,125 1,253 Tax 158 631 656 728 848 945 1,023 893 1,173 3,543 1,576 2,066 Net Profit 538 2,170 2,931 2,372 3,015 3,101 3,543 2,631 3,824 12,031 5,387 6,455
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APL APOLLO TUBES Balance Sheet & Cash flow (Consol) * In this presentation we have classified Fixed Deposits worth Rs14bn under cash and cash equivalents for H1FY27 from other financial assets (due to maturity of less than 365 days) 19 Balance Sheet - Assets (Rs mn) FY26 H1FY27 Cashflow Statement (Rs mn) FY26 H1FY27 Cash & Bank Balance 19,847 25,462 EBITDA 18,019 9,891 Receivables 3,507 3,782 Change in receivables -1,026 -275 Inventories 14,453 16,752 Change in inventory 1,749 -2,299 Other current assets 3,274 4,305 Change in payables 1,313 1,970 Fixed assets (net) 40,683 41,712 Change in other WC 1,832 -1,189 Right to use Assets 1,810 1,404 Tax -2,983 -2,066 Investments 485 513 Others/ Income 1,119 797 Other assets/goodwill 4,273 5,532 Operating cash flow 20,023 6,827 Total Assets 88,333 99,463 Capex -6,520 -4,091 Investments 1,026 -28 Balance Sheet - Liabilities (Rs mn) FY26 H1FY27 Interest -1,164 -913 Trade payables 23,683 25,653 Free cash flow 13,364 1,795 Other current liabilities 3,087 2,929 Dividend payments -1,596 -2,360 Debt 4,525 9,181 Capital increase 0 0 Others 4,073 4,297 Others 508 1,523 Minority Interest 0 0 Net change in cash flow 12,275 958 Shareholders' funds 52,965 57,403 (Net debt)/ Net cash beginning 3,047 15,323 Total Equity & Liabilities 88,333 99,463 (Net debt end)/ Net Cash 15,323 16,281
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20 DEMAND DRIVERS
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Application Mix *As per H1FY27 revenue APL APOLLO TUBES Structural Steel Tube Applications 64% Housing 19% Commercial Buildings 13% Infrastructure 4% Others 21
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41 23 50 35 125 43 Steel Tubes PVC pipes Tiles Wires Cement Paints Cost (per sq ft in Homes) Steel Tube Usage In Housing/Commercial Buildings Tubes are well positioned to play the real estate construction cycle Steel Tube applications in homes Steel Tube applications in commercial/infra Housing Commercial/Infrastructure Railway stationAirports Columns Façade *Building with complete structure on tubes 523 23 50 35 125 43 Steel tubes PVC pipes Tiles Wires Cement Paints Cost (per sq ft in Commercial/Infra) APL APOLLO TUBES 22
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● High Rise Buildings ○ Hospitals, Housing, Schools, Courts, Hotels/Malls/Offices ● Warehouses/Cold Storage/Food Parks ● Factory Buildings/Process Structures ● Aviation Hangers ● Data Centres ● Railway Stations/Airports 50 projects 50mn sq. ft. Visibility 220,000 ton heavy structural steel tubes Ongoing enquiries Applications For Heavy Structural Steel Tubes APL APOLLO TUBES Restaurant, Uttar Pradesh Hospital, Delhi Hospital, Uttar Pradesh University campus, Uttar Pradesh University campus, Roorkee Railway Station, Andhra Pradesh Factory, Mathura Commercial building, Delhi Hospital, Imphal Airport, Uttar Pradesh MES housing, Delhi Commercial Project, Punjab Housing society, Delhi Ethanol plant, Jammu Factory, West Bengal Factory, Assam Commercial building, Uttar Pradesh Infra building, Raipur 23
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24 APL APOLLO’S ESG TRANSFORMATION JOURNEY
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ESG- DJSI Scoring DJSI Percentile (%) APL APOLLO SCORED 91TH PERCENTILE IN 2025 APL APOLLO TUBES 56 80 86 89 91 2021 2022 2023 2024 2025 25
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2022 08 09 12 2023 08 12 2024 08 09 2025 02 2026 Signed the SBTi commitment to be Net Zero by 2050 and reduce Scope 1 & 2 emissions by 25% by 2030, vs. FY22 Submission made for validation of Near- and Long-term targets by SBTi Validation to start in January 2025 GHG Inventory calculated for Scope 1, 2, 3 and set as baseline Scope 1 & 2 Emissions Reduction by 58.8% by 2034; Net Zero by 2050 Dubai plant commissioned in Dec’23 Planned Initiatives: • RE installations in ABPL plant • RE expansions in New Raipur and Malur plants Production: 17,55,000 ton Revenue: INR 1,30,633 Mn Boundary of Scope 1 emissions expanded to include fuel such as propane and LPG Scope of Purchased goods and services expanded to include raw materials (Steel Coils) Production: 26,18,000 ton Revenue: INR 1,81,188 Mn Production: 22,80,000 ton Revenue: INR 1,61,660 Mn APL APOLLO TUBES New Raipur plant commissioned in Dec’22 SBTI validation achieved on 27th February 2025 Production: 31,57,978 ton Revenue: INR 2,06,895 Mn Production: 34,91,243 ton Revenue: INR 2,30,790 Mn 26
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ESG Goals And Targets SCOPE 1 AND 2 EMISSIONS 58.8% Reduction by FY2034 against FY2024 Net Zero by FY2050 RENEWABLE ENERGY >50% Renewable electricity WATER STEWARDSHIP ZLD Compliant units Expand Zero Liquid Discharge (ZLD) across manufacturing facilities Zero fatalities Maintain zero fatalities Zero data breaches Maintain zero data breaches NET-ZERO EMISSIONS HEALTH & SAFETY INFORMATION SECURITY APL APOLLO TUBES 27
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ESG Performance So Far… RENEWABLE ELECTRICITY vs 31% in FY25 −33.1% SCOPE 2 EMISSIONS Combined Scope 1+2 fell 19.0% 83,186 tCO₂e in FY26 −14.6% WATER INTENSITY 27.6 kL per INR crore >99% WASTE RECOVERED 1,55,301 MT recovered Waste intensity improved 12% 7 of 11 ZLD-COMPLIANT PLANTS Near-term execution focus is to extend water circularity and ZLD controls across the remaining four plants. 7.5% RECYCLED / REUSED INPUTS Share of input material by value 31% 58% FY25 FY26 APL APOLLO TUBES WORKER LTIFR Vs 10.8 in FY25 Zero fatalities reported 10.8 1.9 FY25 FY26 28
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Front Runner For Steel For Green APL APOLLO TUBES • APL Apollo is the 1st Company to innovate readymade Doorframe, Fence, Plank and Hand rails as Steel for Green Concept which replaced conventional wood application in building construction • Our Products are saving 250,000 trees every year, going ahead we will be saving more and more trees to keep the planet greener • Keeping the Steel for Green as priority APL is the 1st Company to innovate narrow and thicker color coated galvanized sheets which will save more trees 29
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● Construction sector contributes 30% of direct and indirect Co2 emissions ● Structural steel is preferred for steel buildings because steel is ○ Infinitely recyclable ○ Easy to pre-fabricate ○ High volume to weight ratio ○ Lighter/ stronger structure allow gains in vertical space Research indicates replacing reinforced concrete with steel structures can reduce emission by 60% Steel Structure - RCC Structure Steel Buildings = Decarbonization APL APOLLO TUBES 30
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MANAGEMENT TEAM 31
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Board of Directors APL APOLLO TUBES Dinesh Kumar Mittal Independent Director Former IAS officer of 1977 batch (UP cadre) and Ex Secretary in Department of Financial Services, H.S. Upendra Kamath Independent Director Former CMD of Vijaya Bank. Having 4 decades experience in the Indian Banking Industry Asha Anil Agarwal Independent Director Former Principal Chief Commissioner of Income Tax. Having 4 decades of rich experience in the IRS Dukhabandhu Rath Independent Director A banking professional with four decades of experience in the Indian financial sector Rahul Gupta Director A promising entrepreneur withan experience of around 10years in Steel TubesManufacturing Rajeev Anand Independent Director Board member of DIC India Ltd. |Ex-Executive Chairman of Goodyear India limited Sanjay Gupta Chairman & Managing Director Steel Industry veteran with 3 decades of experience Deepak Goyal Director-Operations & Group CFO 2 decades of professional experience in steel tube industry CK Singh Director & COO A Mechanical Engineer with MBA and having more than 25 years of experience in the steel industry Vinay Gupta Director More than 20 years of industryexperience in themanufacturing and tradingpipes, tubes and sheets Rakesh Sharma Independent Director Having 35 years of experience in the banking and financial services sector. He holds a Bachelor of Science and a Master of Laws Ashok Kumar Gupta Vice Chairman Steel industry veteran with 4decades of experience 32
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Sanjay Gupta Chairman & Managing Director Leadership Team APL APOLLO TUBES Utkarsh Dwivedi CEO - Dubai LLC Brajesh Nahar Director-ABPL Deepak Goyal Director-Operations & Group CFO Anubhav Gupta Chief StrategyOfficerRahul Gupta Director Vinay Gupta Director Ravindra Tiwari Chief Sales & Marketing Officer CK Singh Director & COO Chetan Khandelwal Chief Financial Officer 33
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Thank You Deepak Goyal APL Apollo Tubes Ltd Tel: +91 120 691 8000 Email: deepakgoyal@aplapollo.com For further information, please contact: Anubhav Gupta APL Apollo Tubes Ltd Tel: +91 120 691 8000 Email: anubhav@aplapollo.com Shubham Mittal APL Apollo Tubes Ltd Tel: +91 120 691 8000 Email: shubhammittal@aplapollo.com APL APOLLO TUBES 34
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APL Apollo Tubes Limited Regd. Office: 37, Hargobind Enclave, Vikas Marg, Delhi – 110 092 Corp. Office: SG Centre, Plot No. 37-C, Block-B, Sector-132, Noida, Distt. Gautam Budh Nagar, U.P.-201304 Noida, Oct 26, 2026: APL Apollo Tubes Limited (APL Apollo), India’s leading branded structural steel tube company, today announced its financial results for the quarter ending Sept 30, 2026. H1FY27 Financial performance highlights Revenue increased by 22% YoY to Rs126.1Bn EBITDA increased by 21% YoY to Rs9.9Bn o EBITDA/ Ton Rs. 5,791 PAT increased by 20% YoY to Rs6.5Bn Mr. Sanjay Gupta, Chairman, APL Apollo, comments on Q2FY27 results “APL Apollo Tubes delivered its strongest-ever quarterly performance, with Q2FY27 sales volumes, EBITDA and PAT growing 13%, 29% and 27% YoY, respectively. The company’s EBITDA/Ton stood strong at Rs. 5,999/ Ton, supported by a higher share of value-added products and the strength of the APL Apollo brand. This business performance was achieved despite the disruption in company’s UAE operations. A greater contribution from value-added offerings supported margin improvement, reinforcing the importance of portfolio differentiation through the demand cycle. The Company’s focus on product quality and customer needs, supported by its extensive distribution network, continues to strengthen its competitive position. The company expects demand to improve over the coming quarters, supported by higher government budget allocations for the infrastructure sector. We are ready with our capacity, diversified product portfolio, distribution network and strong brand pull. Henceforth we expect 2HFY27 to perform better than 1HFY27. We continue to remain prudent with our working capital management, which remains best in the construction material sector”. Q2FY27 Financial Performance Sales volume of 963,143 Ton (+13% YoY,+29% QoQ) EBITDA of Rs5.8Bn (+29% YoY, +40% QoQ) EBITDA/ Ton of Rs 5,999 (+15% YoY, +9% QoQ) Net Profit of Rs3.8Bn (+27% YoY, +45% QoQ)
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About APL Apollo Tubes Limited APL Apollo Tubes Limited (APL Apollo) BSE: 533758, NSE: APLAPOLLO is India’s leading structural steel tube manufacturer. Headquartered at Delhi NCR, the Company operates 11 manufacturing facilities with a total capacity of 5 Mn Ton. It has a pan-India presence with 11 units strategically located in Hyderabad, 3 plants at Sikandarabad (UP), Bangalore, Hosur (Tamil Nadu), 2 plants in Raipur (Chhattisgarh), Malur (Karnataka), Murbad (Maharashtra) and Umm AI Quwain (UAE). APL Apollo’s multi-product offerings include over 5,000+ varieties for multiple building material structural steel applications. With state-of-the-art-manufacturing facilities, APL Apollo serves as a ‘one-stop shop’ for a wide spectrum of products, catering to an array of industry applications such as urban infrastructure and real estate, rural housing, commercial construction, greenhouse structures and engineering applications. The Company’s vast 3-tier distribution network of over 800 Distributors is spread across India, with presence in over 300 towns and cities. For more information about us, please visit www.aplapollo.com or contact: Deepak Goyal APL Apollo Tubes Ltd Tel: +91 120 691 8000 Email: deepakgoyal@aplapollo.com Anubhav Gupta APL Apollo Tubes Ltd Tel: +91 120 691 8000 Email: anubhav@aplapollo.com Shubham Mittal APL Apollo Tubes Ltd Tel: +91 120 691 8000 Email: shubhammittal@aplapollo.com