At APL Apollo, we are committed to evolve a framework that brings value for all the stakeholders. We understand the infrastructural needs of the country and are committed to addressing them with our production scale, wide product portfolio, and a deep-rooted market presence.
Fiscal 2015 was a year of strength, optimism and performance for APL Apollo in a challenging environment. We have crossed the revenue milestone of INR 3,000 crores and achieved 1 Million TPA production capacity.
We achieved sales of Rs. 3,103 cr this year as compared to Rs. 2,497 cr of last fiscal, thereby registering a year on year growth of 20.7%. The net profit of the Company was at Rs. 63.8 crore which is 8% higher than the previous year. While we witnessed a strong domestic demand in the black and square pipes, we also managed a strong performance from the export markets. We are today globally recognised as a quality low cost producer and our brand commands a good visibility in the world markets.
To address the changing needs of the market, we have also initiated many new product innovations. We have brought colour coated pipes in India for the first time. We believe that colour coated pipes will find wide acceptance in India in the foreseeable future, given the twin benefits of looking aesthetically pleasing as well performing the important function of prevention of rusting in pipes. The other key innovation that has been patented by us is the steel door frame. The Government of India’s initiative to promote low cost housing is a big driver for this product.
I would like to thank all our shareholders and also our customers, suppliers, vendors and lenders for their continuous support to the Company during the year. I would also like to thank all the employees for their commitment to enhancing the performance of the Company.