APL Apollo Tubes sets 16 Dec as record date for stock split

The company's shareholders have approved splitting each stock of face value Rs 10 each into 5 equity shares of face value of Rs 2 each (5-for-1).

APL Apollo Tubes has set 16 December 2020 as the record date to ascertain the names of shareholders entitled for the proposed sub-division of shares.

With a capacity to produce 2.5 million tonnes per annum, APL Apollo Tubes is 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.

The company's consolidated net profit jumped 67.1% to Rs 92.12 crore on a 34.5% rise in net sales to Rs 2130.30 crore in Q2 FY21 over Q2 FY20.

The scrip jumped 4.73% to Rs 3722.25 on the Friday. The stock has soared 263.15% from its 52-week low of Rs 1,025 hit on 19 March 2020.

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