homebusiness Newscompanies NewsAPL Apollo Tubes expects to be 100% organic and debt free by FY24: CFO Goyal
APL Apollo Tubes expects to be 100% organic and debt free by FY24: CFO Goyal
With a clear roadmap in place and a vision for the future, APL Apollo Tubes remains dedicated to delivering value to its stakeholders, customers, and the economy at large. The company's unwavering determination to drive organic growth and become debt-free showcases its commitment to long-term success and its ability to navigate the evolving business landscape with confidence.
APL Apollo Tubes' ambitious capacity expansion plans, combined with its focus on debt reduction, underline its commitment to achieving sustainable growth and financial stability. As the company continues to strengthen its market presence and expand its operations, it is well-poised to capitalise on emerging opportunities and contribute to India's infrastructure development.
In a recent interview with CNBC-TV18, Deepak Goyal, Director (Operation) and Group Chief Financial Officer at APL Apollo Tubes, emphasised that APL Apollo Tubes is on track to achieve significant milestones, including a 100 percent organic capacity expansion and becoming debt-free by the end of FY24.
One of the key highlights of APL Apollo Tubes' growth strategy is its plan to increase its capacity by a substantial 5 million tonne. Goyal revealed that this expansion will be undertaken through organic means, indicating the company's focus on leveraging its existing resources and capabilities to fuel its growth trajectory.
“All will be organic, 100 percent organic. By this yearend, we will be debt free,” he said.
Looking further ahead, APL Apollo Tubes aims to achieve an impressive capacity of 10 million tonne by the year 2030. By consistently expanding its capacity, APL Apollo Tubes aims to meet the evolving demands of its customers and strengthen its foothold in the market.
Discussing the company's prospects in the Jal Jeevan Mission, Goyal expressed confidence in APL Apollo Tubes' strong order book.
“We are quite confident that we will get good orders from the Jal Jeevan Mission,” he said.
The Jal Jeevan Mission, a nationwide initiative aimed at providing safe drinking water to rural households, represents a significant opportunity for APL Apollo Tubes. Goyal noted that this mission alone is expected to generate a demand of 1 million tonne for the company, highlighting the potential for substantial business growth in this sector.
By capitalizing on the robust order book in the Jal Jeevan Mission and strategically aligning its operations with market demand, APL Apollo Tubes is well-positioned to secure its position as a preferred choice for infrastructure projects across the country. The company's commitment to delivering high-quality products and services has earned it a strong reputation in the industry, further bolstering its prospects for success.
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