The shares of the PVC pipe manufacturer have fallen up to 3 percent after the company’s promoter sold 9.80 lakh equity shares worth Rs 63.4 crore.
With a market capitalization of Rs 2,706.36 crore, the shares of Apollo Pipes Ltd were trading at Rs 662.85 per share, decreasing around 1.12 percent as compared to the previous closing price of Rs 662.85 apiece.
As of March 2024, Meenakshi Gupta, a promoter in Apollo Pipes Ltd holds 1.03 crore equity shares which is equivalent to 24.92 percent of the company out of which the promoter sold 9.80 lakh equity shares which is equivalent to 2.37 percent in the company, however, Ohana India Growth Fund, an DII, bought 7.72 lakh equity share which is equivalent to 1.87 percent stake in Apollo.
Looking forward to its financial performance, revenue fell by 3 percent from Rs 251.94 crore in Q4FY23 to Rs 245.79 crore in Q4FY24, during the same time frame, the company’s net profit plummed by 57 percent from Rs 15.03 crore to Rs 6.52 crore.
Examining the company’s crucial ratio, return on equity inclined from 5.22 percent in FY22-23 to 7.39 percent in FY23-24, while during the same time frame return on capital employed also inclined from 8.97 percent to 11.85 percent. In contrast, the net profit margin (NPM) stands at 4.34 percent in fiscal year 22-23.
Examine the company’s recent shareholding pattern, the promotor holds a 48.32 percent equity Share in the company, retail investors own a 0.41 percent stake and Domestic institutional investors own a 13.97 percent stake in the company.
Apollo Pipes manufactures and trades cPVC, uPVC, and HDPE pipes, as well as PVC taps, fittings, water storage tanks, and solvents. It is one of the top ten major pipe solution providers in India. The goods are suitable for a wide range of industrial applications, including agriculture, water management, construction, infrastructure, and telecom ducting.
Written by:- Abhishek Singh
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