275% Dividend: September 19 Record Date, MFs Stake Zooms In Q1; BSE 100 Stock Name?

APL Apollo Tubes Limited is the largest manufacturer of structural steel tubes in India, with an annual production capacity of 3.6 million tonnes. The firm serves both domestic and international customers with an extensive distribution network that includes branch offices and warehouses spread over 29 cities in the nation. With more than 1,100 different types of pre-galvanized tubes, structural steel tubes, galvanised tubes, MS Black pipes, and hollow sections available, the firm is one of India's top producers of branded steel products. With its headquarters located in Delhi NCR, APL Apollo Tubes Limited is the largest structural steel tubing company in India.

APL Apollo Tubes Dividend

"The Board of Directors of the Company is pleased to recommend a dividend @275% (Rs 5.50 per share) as final dividend on the equity shares for the year 2023-24 subject to declaration of the same by the members at the ensuing annual general meeting. The payment of dividend will be subject to deduction of applicable taxes and shall be paid for the full year on the shares held as on the record date irrespective of the date of issue of the shares during the year," said the company in a statement.

APL Apollo Tubes Dividend Record Date

"The Company has fixed Thursday, September 19, 2024 as the "Record Date" for determining entitlement of members to the final dividend for the financial year ended March 31, 2024. The dividend, if declared at the Annual General Meeting, will be paid after 26th September, 2024, to the Members whose names are recorded in the Company's Register of Members or as Beneficial Owners in the records of the Depositories on September 19, 2024 or to their mandates," the Board of Directors of the company informed stock exchanges on August 31, 2024.

APL Apollo Tubes Growth Outlook

Sanjay Gupta, Chairman, APL Apollo, said "In the near term, we expect demand conditions to improve on the back of improved government budget allocation for infrastructure and good monsoons. The company's commitment to delivering exceptional quality, coupled with its unwavering dedication to customer satisfaction, has propelled it to the forefront of the industry."

"Our focus remains on innovative products and providing the best customer experience to further enhance our leadership. We are encouraged to see strong sales growth in our value added product portfolio such as the heavy structural steel tubes and coated products. The VAP contributed 60% to our overall sales volume in Q1FY25 vs 57% in Q1FY24," he further added.

"Our greenfield Raipur plant is set to enter a new phase of accelerated production while maintaining the highest standards of efficiency and reliability. APL's strategic expansion of its Dubai facility not only strengthens the company's global presence but also enhances its capacity to serve clients across international markets. Our focus on expanding our global footprint with export opportunities remains intact. We continue to remain prudent with our working capital management, which remains best in the building material sector," Sanjay Gupta commented.

APL Apollo Tubes Shareholding Pattern

FII/FPI raised holdings from 30.69% in Q4FY24 to 31.55% in Q1FY25; mutual funds bumped holdings from 8.76% to 9.47%; institutional investors increased holdings from 44.75% to 46.45% during the same period while promoters dropped their holdings from 29.44% in the March 2024 quarter to 28.33% in the June 2024 quarter. These findings line up with the shareholding pattern of APL Apollo Tubes that are available on Trendlyne for the quarter that ended in June 2024.