APL Apollo Tubes Limited, India's premier structural steel tube producer, has confirmed that a tax demand of ₹3 million has been withdrawn. This would be welcome news for the company, which has been concentrating on building its market presence and product range.
Points to note:
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₹3 million tax demand withdrawn
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Follows the company's recent robust financial performance
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Aligns with APL Apollo's continuing expansion plans
The cancellation of this tax demand is expected to be a positive force for the financial performance of APL Apollo. In its latest Q3 FY2025 results, the company announced a year-on-year growth of 15% in net profit at ₹205 crore, reflecting its strong performance in the steel tubes business.
This follows APL Apollo's continued dominance in the market. The company has recently introduced its "Apollo Fencing Solutions" with a view to cash in on the increased need for pre-engineered fencing systems in residential and commercial applications.
APL Apollo shares welcomed the news positively, gaining 1.5% to ₹1,450 on the BSE. Now that this tax issue has been addressed, the company can get down to implementing its strategic initiatives of capacity enhancement and product diversification.
Sources: APL Apollo Regulatory Filing, BSE India, March 28, 2025