APL Apollo Tubes has announced a stock split. The company will split one equity share of the face value of Rs 10 into 5 shares worth Rs 2 each.
On the hike in steel prices Deepak Goyal, CFO at APL Apollo Tubes said, “It is definitely pass through with some time lag but it is a pass-through to the market.”
On inventory, Goyal said, “In last two quarters we have improved our working capital cycle very much so there is no inventory gain nor inventory loss. In passing the price hike in the market there is some time lag so there is no inventory gain or loss.”
On revenues, he said, “We are targeting more than 50 percent at least and for the next year we are targeting at least 65 percent would be our value-added products in the total market.”
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(Edited by : Abhishek Jha)