Apollo Pipes Ltd Declares A Dividend of 6%, Posts A Net Loss Of 52% For FY23

Apollo Pipes Limited declares a final dividend of 6 per cent after it was approved by the directors in the board meeting held on Monday. The board of directors also approved Q4FY23 and FY23 results in the meeting. The company posted a net loss of 52 per cent for the financial year 2023 over the last fiscal.

Apollo Pipes through its press release filed on the securities exchange made the announcements. The company witnessed a 14 percent growth in sales volume to Rs 18,685 crores for Q4FY23 over the same period last year and 4 per cent over the previous quarter.

The EBITDA margins expanded by 11.7%, a 21.3 basis points growth for the quarter year on year (yoy) and 489 basis point quarter on quarter (QoQ). The net loss for the company was reported to be 15 crores for the March quarter. It declined by 4 per cent over the same period last year while it grew by 209 per cent over the December quarter.

For the full year, FY23 the company recorded total sales of Rs 66,567 crore, a growth of 24 per cent over FY22. The EBITDA declined by 27 per cent and the margins contracted within a year by 447 basis points and the company posted a net loss of Rs 23.9 crores.

Apollo Pipes Ltd has said in its press release stating that its available capacity is at 136,000 MTPA. It has increased its market presence and is improving its distributor network to address demand across pan-India. The company has set a target to achieve 25 per cent + revenue growth CAGR over the next three years.

The statement also shared that the company's value-added product categories would provide impetus to volumes and profitability. Further, it also stated that the company intends to leverage the 'APL Apollo' brand reach and recall to drive higher business growth.

Lastly, the company declared a final dividend of 6 per cent i.e. Rs 0.60 per share of Rs 10 each face
value for the financial year ended 31st March 2023, which shall be paid/dispatched to the shareholders within 30 days of the declaration, and any further information in this regard including
record date etc. shall be submitted to the concerned stock exchanges in due course.

The stock price of Apollo Pipes Limited closed at Rs 600.10 per share, it was down by 0. 28 per cent. In the last one year, the share price has rallied by 10.63 per cent while over the three years, it has soared up by nearly 464.85 per cent.