New Delhi, India – January 28, 2025: Apollo Pipes Limited (NSE: APOLLOPIPE, BSE: 531761) has released its Integrated Filing (Financials) for Q3 FY2024-25, confirming that the ₹259.6 crore raised through a preferential issue in May 2023 has been fully utilized as per plan. The company reported no deviations in fund utilization and continued its strategic expansion and capital investment initiatives.
Key Highlights – Q3 FY2024-25
- Fund Utilization from Preferential Issue (₹259.6 crore):
- Strategic Investment in Kisan Mouldings Limited: ₹81 crore fully deployed.
- Capital Expenditure: ₹11.31 crore allocated, with ₹10 crore invested in Q3 FY25.
- Working Capital Requirements: ₹139.12 crore allocated, with ₹73.31 crore utilized in Q3 FY25.
- Issue Expenses: ₹0.13 crore entirely incurred.
- No Defaults on Loans or Debt Securities.
- No Modifications or Deviations in Fund Utilization.
Fund Utilization Breakdown (₹ Crores)
| Purpose | Allocated | Utilized | Deviation |
|---|---|---|---|
| Strategic Investment in Kisan Mouldings | 81.00 | 81.00 | Nil |
| Capital Expenditure | 39.35 | 11.31 | Nil |
| Working Capital Requirement | 139.12 | 139.11 | Nil |
| Issue Expenses | 0.13 | 0.13 | Nil |
| Total | 259.60 | 259.55 | Nil |
Corporate Governance & Financial Stability
- Full compliance with SEBI regulations, confirming zero deviations in fund usage.
- Strategic investments and capital expenditure support long-term business growth.
- No financial defaults or pending obligations on debt securities.
Management Commentary
Ajay Kumar Jain, Chief Financial Officer, Apollo Pipes, stated:"Apollo Pipes remains committed to deploying capital efficiently, ensuring strategic investments drive growth and enhance shareholder value. The seamless execution of our preferential issue utilization aligns with our long-term vision.".