APL Apollo: Strong Growth, Low Margins, High Valuation
APL Apollo Tubes Ltd (APL) is the largest producer of steel tubes in India, with a capacity to produce over 2.5 million tonnes per annum (mtpa). Its main products are square pipes, pre-galvanised tubes, galvanised tubes, black pipe and hollow sections. In addition to domestic sales, APL also exports its products to 20 countries with a majority of its revenues coming from USA, Europe and...
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