Apollo Tubes signs an agreement with Zamil Steel Buildings India

India’s leading branded structural steel tube company, APL Apollo Tubes Ltd (APL) announced on Friday that it has signed a pact with Zamil Steel Buildings India Private Limited. Reacting to the news, its share rose about a per cent during today’s early market session on BSE.

The MoU would help to create a market for pre-engineered steel buildings made from structural steel tubes, which is consistent with APL’s strategy to create new markets for structural steel tubes in India.  

APL already has a huge market share in high diameter and high thickness steel tubes segment ‘Apollo Column’, and this will get an additional boost next year after launching a structural steel tube of 500 x 500 mm diameter.

APL plans to increase the share of Apollo Column multifold to its revenue in the upcoming years. Moreover, it will help in increasing the EBITDA margin and improve its return profile as tubes are high-margin products.

At 2.30 pm, its share was trading marginally up by 0.21 per cent at Rs 3,246 on BSE. It recorded an intraday high of Rs 3,276.4.