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As On 08-Dec-2022 EOD, Market Closed
SENSEX
62,570.68
160.00 (0.26%)
NIFTY
18,609.35
48.85 (0.26%)
    No Companies Visited
A A A

Apollo Tricoat Tubes Limited (formerly known as Best Steel Logistics) was incorporated on January 12, 1983. The Company became a part of Sudesh Group of Companies, India's leading steel pipe and tube manufacturer in 2018.The SG Group has a manufacturing capacity of 2 million tons per annum.

The Company is engaged in the business of production of ERW steel tubes, pipe manufacturing and GP Coils. The Company has two manufacturing unit one at Bengaluru, Karnataka and second at Ghaziabad, Uttar Pradesh. The Company is a subsidiary of Shri Lakshmi Metal Udyog, a wholly-owned subsidiary of APL Apollo Tubes Ltd.,one of India's leading branded steel tube manufacturers.

Apollo Chaukaht, the steel door frames, received an overwhelming response especially from North India with capacities remaining booked through the year. In addition to products, the Company also launched complete solutions which witnessed healthy traction. Apollo Signature and Elegant products made strong inroads in the South India markets reporting a sizeable growth in sales volumes.

In keeping with the growing demand, the Company enhanced capacity taking overall manufacturing capacity to 3.5 Lakh tonnes. In addition to growing business and prospects, the Company worked in reducing costs and improving shop-floor efficiencies. The Company installed meters on its equipment across all operating units to monitor and analyse energy consumption and identify ways of optimising the same. Also, the Company signed an agreement for purchasing solar power from the third party, which significantly reduced the electricity cost. The Company is in the process of negotiations with vendors for installation of captive solar power system.

The Company adopted a policy of purchasing coil with a standard width and installed the DFT technology at Malur Industrial unit for developing products. Important steps were implemented to reduce changeover time between batches to improve the productivity. The Company is also setting up two production lines at its Greenfield facility at Dadri, Uttar Pradesh for manufacturing narrow sections and door frames.


The Board of Directors of Apollo Tricoat Tubes Limited, at its meeting on February 27 2021 considered and approved a draft scheme of amalgamation of the Company and Shri Lakshmi Metal Udyog Limited with APL Apollo Tubes Limited, its ultimate holding Company and their respective shareholders and creditors, as may be modified from time to time, under Sections 230 to 232 of the Companies Act, 2013. The Scheme is subject to receipt of approvals from the shareholders and creditors of the Company as may be directed by the National Company Law Tribunal, Delhi bench (NCLT), stock exchanges (BSE Limited) and approval of other regulatory or statutory authorities as may be required.

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Flash News 08-Dec-2022
  •  ( 17:42) HUL forays in health & wellbeing category  
  •  ( 16:26) Bank stocks outperform as Nifty Bank hits record high  
  •  ( 16:26) Barometers end near the day's high after volatile session  
  •  ( 15:42) Ashok Leyland appoints Shenu Agarwal as CEO  
  •  ( 15:40) Trent to sell 3.22% in Tata Unistore to Tata Digital  
  •  ( 15:30) Kalpataru Power board OKs NCD issue of Rs 99 cr  
  •  ( 13:08) Kalyan Jewellers to expand retail footprint by over 30% in CY23  
  •  ( 12:34) Barometers turn range bound; Nifty hovers below 18,600; VIX down 1.91%  
  •  ( 12:09) Dredging Corporation bags reclamation dredging contract from NRL  
  •  ( 11:53) Talbros Automotive bags order worth Rs 60 crore  
  •  ( 11:13) Sun Pharma Gujarat plant gets import alert from USFDA  
  •  ( 11:09) Macrotech Developers launches QIP issue  
  •  ( 10:26) VA Tech Wabag appoints Pankaj Malhan as deputy MD & group CEO  
  •  ( 10:22) Dharmaj Crop Guard lists at Rs 266 v/s IPO price Rs 237  
  •  ( 10:12) Tvs Motor arm acquires entire stake in German co  
  •  ( 09:54) JSW Steel crude steel production jumps 16% YoY in November  
  •  ( 09:50) Eveready Inds appoints Bibek Agarwala as CFO  
  •  ( 09:39) HCL Tech tie-up with Intel and Mavenir to deliver 5G enterprise solutions  
  •  ( 09:30) Market breadth strong  
  •  ( 09:30) Barometers trade with minor cuts  
  •  ( 08:38) Most Asian stocks trading lower  
Show News
08 December 2022 00:00
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