APL Apollo hits record high on securing design patents for six products

Don't want to miss the best from Business Standard?

The Office of the Controller General of Patents, Designs & Trademarks has recently granted six registrations to the innovative products of APL Apollo Tubes.

The new products include: Apollo Reflector (to be used as roadside reflectors), Apollo Fence (to be used for fencing solutions), Apollo Oval (to be used as gym equipments), Apollo Plank (to be used in stairs & scaffolding), Octogon (to be used in lighting pole) and Chequered coil (to be used as covering panels).

With the registrations, the overall portfolio for APL Apollo Tubes has risen to 16. These products will be used in various building material applications and would replace existing conventional construction products like wood, aluminum, concrete and steel angles and channels.

The structural steel tubes provide the ability to design with flexibility, without compromising on the durability and strength of the structure. In addition to this, construction with tubular steel structures is faster with better seismic resistance and the resultant structure has higher carpet area, all at substantially lesser costs than conventional construction models, including RCC structures. Moreover, tubular constructions are more sustainable and environment friendly, without any water or air pollution emanating due to the construction process.

APL Apollo Tubes' consolidated net profit soared 669.40% to Rs 168.42 crore on a 126.4% surge in net sales to Rs 2,443.32 crore in Q1 FY22 over Q1 FY21.

APL Apollo Tubes is one of the largest producer of structural steel tubes in India. It has a distribution network of warehouses and branch offices in 29 cities across the country catering to domestic as well as 20 countries worldwide.

Shares of APL Apollo Tubes skid 1.03% to Rs 1,860 on BSE. The scrip hit an all-time high of Rs 1,908.70 in intraday today.

Powered by Capital Market - Live News