What is your outlook on the global and domestic iron and steel products’ industry? What are the opportunities you are focusing on?
The global steel market is poised to grow at a CAGR of around 4-5 per cent in the next 10 years with demand for steel increasing due to growing urbanisation in emerging economies and growth in sectors like automobile, real estate, transportation, energy, etc. The domestic steel demand at present is about 110 million tonnes which could grow to 200 million tonnes in the next three years. Out of the total steel demand, at present 4 per cent is of structural steel tubes. With the ongoing paradigm shift in the construction industry from conventional products to structural products, the share of such products could increase to about 22 per cent in the next 10 years.
In Q4FY22, APL Apollo Tubes’ revenue and profit witnessed a healthy YoY growth of ~63 per cent and ~37 per cent, respectively. What factors have been the key drivers responsible for your stellar outperformance?
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