Apollo Tricoat hits new 52-week high on Tuesday

The shares of Apollo Tricoat Tubes Limited jumped more than five per cent to record a new 52-week high on Tuesday, after the company reported 86 per cent QoQ rise in the net profit at Rs 17.5 crore for December quarter of the current fiscal year-Q3FY20.

The company reported 49 per cent growth in the revenue at Rs 229 crore backed by a strong sales volume of 47,148 MTPA. On a sequential basis, volumes improved by 71 per cent in Q3FY20.

Earnings before Interest, Tax, Depreciation, and Amortisation (EBITDA) margin improved 220 basis points to 12.4 per cent from 10.2 per cent in the previous quarter. EBITDA per tonne during Q3FY20 stood at Rs 6,034, up by 6 per cent QoQ.

Apollo Tricoat Tubes is India's leading steel pipe and tube manufacturer, that gives a combination of three different coatings of zinc, paint and polymer clear coat unlike other products available in the market, which either sells zinc finish or paint finish.

At 12.42 pm, the stock of Apollo Tricoat Tubes is trading at Rs 350.00, up by 5.93 per cent against its previous close of Rs 330.40. Its 52-week high is recorded at Rs 351.90 and its 52-week low is Rs 124.00 on BSE.