Apollo Pipes enters tiles with Rs 40.42 crore controlling stake in Mazzini Tiles
Apollo Pipes’ subsidiary Apollo Ceramics has acquired a 76% stake and profit-sharing rights in Morbi-based Mazzini Tiles LLP. The deal brings 72 lakh sq m of annual tile capacity, PGVT products and an established distribution network; Apollo Pipes has also approved up to Rs 300 crore for its tiles and ceramics plan.
What happened
Apollo Pipes, through subsidiary Apollo Ceramics, acquired a controlling 76% stake in Morbi-based Mazzini Tiles for Rs 40.42 crore, entering tiles and ceramics.
Key facts
- Apollo Ceramics acquired a 76% stake and profit-sharing rights in Mazzini Tiles LLP
- Acquisition value: Rs 40.42 crore
- Apollo Pipes approved tiles and ceramics investment plan: up to Rs 300 crore
- Mazzini annual installed capacity: 72 lakh square metres
What changed
Apollo Pipes, through subsidiary Apollo Ceramics, acquired a controlling 76% stake in Morbi-based Mazzini Tiles for Rs 40.42 crore, entering tiles and ceramics. The deal adds manufacturing capacity, PGVT products and an established domestic distribution network.
Why this matters
Apollo Pipes gains an immediate tiles manufacturing base, PGVT portfolio and distribution network through Mazzini Tiles, accelerating its move into ceramics.
What to watch
- Quarterly tile and ceramics revenue, EBITDA margin and working-capital movement after consolidation.
- Evidence of dealer overlap and cross-selling between Apollo Pipes and tile channels.
- Capital-expenditure phasing and whether the full Rs 300 crore plan is deployed on acquisition, capacity, branding or distribution.
- Utilization rates at the 72 lakh sq m annual Mazzini facility and any announced capacity additions.
- Growth in domestic versus export tile sales, particularly amid freight, currency and overseas demand changes.