Leading pipe manufacturer Apollo Pipes Ltd. has announced a significant strategic move into the tiles and ceramics sector through its subsidiary, Apollo Ceramics. The company's shares gained momentum following the news that Apollo Ceramics acquired a 76% stake and profit-sharing rights in Mazzini Tiles LLP for Rs 40.42 crore.
This acquisition is a key step in Apollo Pipes' strategy to expand its footprint within the broader building materials segment. Mazzini Tiles, incorporated in April 2017, specializes in the manufacturing of tiles and ceramic products, operating a facility in Morbi, Gujarat—a prominent hub for ceramic production in India.
Mazzini Tiles has demonstrated consistent growth, reporting a turnover of Rs 87.15 crore for the financial year ended March 31, 2026, up from Rs 76.67 crore in FY25 and Rs 78.23 crore in FY24. The company boasts an installed annual manufacturing capacity of 72 lakh square meters and has established a strong presence in the Polished Glazed Vitrified Tiles (PGVT) segment. Furthermore, Mazzini possesses a robust domestic distribution network complemented by a growing export presence in key international markets.
Apollo Pipes views this acquisition as providing an immediate operational manufacturing base, an established product portfolio, and ready access to existing markets. The company anticipates that this transaction will serve as a robust platform for scaling its tiles and ceramics operations and broadening its reach across both domestic and international territories. This move aligns with Apollo Pipes' previously approved investment plan of up to Rs 300 crore, earmarked for expanding its presence in the tiles and ceramics business, which includes pursuing manufacturing, contract manufacturing, trading, marketing, and distribution activities for related products.
Following the announcement, Apollo Pipes shares closed 3.42% higher at Rs 543.40 on Friday, compared to its previous close of Rs 525.45. The firm's market capitalization stood at Rs 2393.58 crore.