India’s APL Apollo Tubes Limited, a manufacturer of structural steel tubes, has reported a sales volume of 674,761 mt in the second quarter (July-September) of the fiscal year 2023-24, the highest in any previous quarter, and up 12 percent year on year, a company statement said on Wednesday, October 4.
During the first half (April-September) of the fiscal year 2023-24, the company reported a total sales volume of 1.34 million mt, up 30 percent year on year, the statement indicated.
“The contribution from the value-added segment was stable at 55 percent in the current fiscal year. APL Apollo's strategy of de-commoditization is intact. The sales mix will improve further in the coming quarters with a rising contribution of innovative products. We are encouraged to see strong sales growth in heavy structural steel tubes. The sales mix should eventually move towards 70 percent of value-added products,” the statement said.