APL Apollo Tubes Limited, a structural steel tube company, on Tuesday announced its sales volume performance for Q2FY24 through an exchange filing. The Company registered sales volume of 674,761 Ton in Q2FY24. This is the highest quarterly sales volume reported by the company.
For H1FY24, the company reported sales volume of 1,336,262 Ton, an increase of 30 per cent Year-on-Year.
The company in the regulatory filing said, "The contribution from the value-added segment was stable at 55 per cent in Q2FY24. APL Apollo’s strategy of de-commoditization is intact. The sales mix will improve further in coming quarters with the rising contribution of innovative products. We are encouraged to see strong sales growth in the heavy structural steel tubes. The sales mix should eventually move towards 70% for value added products."
The sales of heavy, super heavy, light and general product range of Apollo Structural all saw a growth with the sales at 51,256 ton, 4,802 ton, 1,12,743 ton and 3,01,138 ton respectively. Apollo Z's rust-proof sales also increased to 1,43,692 tons with its coated products sales at 28,755 tons.
Apollo Galv's agricultural products also saw a jump to 32,375 ton against 26,602 ton in the previous year.