APL Apollo is commissioning the largest-ever plant in New Raipur, which is expected to deliver a significant contribution and improve the sales mix.
APL Apollo Tubes Ltd. has announced its sales volume performance for the first quarter ending 30 June 2022, i.e. Q1 FY23. The leading manufacturer of structural steel products has attained a sales volume of 422,788 tonne in Q1 FY23 while it was 373,124 tonne in the corresponding period of the previous fiscal – Q3 FY22.
The quarterly sales volume decreased during the Q-o-Q as the steel industry experienced reducing the kept stocks due to domestic steel-price correction – as published in Capital Market. This was because of the imposed duty on the exports of steel in May 2022. The domestic steel prices were corrected by 21 percent in Q1 FY23.
The manufacturer is assured about achieving 1 million tonne of sales volume during H1 FY23. As a matter of fact, APL Apollo had achieved a sales volume of 551,723 tonne in Q4 FY22 after a slump in sales volume performance in Q3 FY22, i.e. 402,729 tonne.
Also Read: APL Apollo: Constantly Moving Up the Ladder with Innovative Products and R&D Investments
APL Apollo Tubes’ multi-product offerings include over 1100 varieties of MS Black pipes, galvanised tubes, pre-galvanised tubes, structural ERW steel tubes, and hollow sections. The Company is commissioning the largest-ever plant in New Raipur, which is expected to deliver a significant contribution starting from Q3 FY23 onwards. Moreover, the sales mix is also projected to enhance further in the coming quarter.