Apollo Pipes Limited disclosed that its newly incorporated subsidiary, Apollo Ceramics Limited, has acquired a 76% stake and profit sharing rights in Mazzini Tiles LLP for a cash consideration of ₹40.42 Crore. The strategic acquisition is designed to expand the company’s footprint into the tiles and ceramics industry, reinforcing its overarching presence in the broader building materials segment.

The transaction falls under a larger board-approved investment envelope of up to ₹300 crore aimed at scaling up its tiles and ceramics operations. Mazzini Tiles LLP operates an advanced manufacturing plant located in Morbi, Gujarat, featuring an installed annual capacity of 72 lakh square meters and a strong focus on Polished Glazed Vitrified Tiles (PGVT). The target entity reported a turnover of ₹87.15 Crore for the financial year ended March 31, 2026.

Apollo Pipes Limited is a prominent Indian manufacturer specializing in extensive plastic piping solutions and water management products. Throughout 2025, the company focused on expanding its operational infrastructure, improving regional distribution, and maneuvering through fluctuating raw material pricing environments. Strategic initiatives during the year targeted long-term margin optimization, deeper retail channel penetration, and building a diversified product portfolio spanning multiple construction and infrastructure verticals.

During the financial year 2024-25, Apollo Pipes registered a revenue from operations of ₹925.69 crore, representing a minor decline of 5.27% compared to ₹977.14 crore in the preceding fiscal year. Profit After Tax (PAT) for the same annual period stood at ₹30.82 crore, down 27.38% from ₹42.44 crore due to demand headwinds. Institutional investors and mutual funds maintain holdings in the parent entity as part of structural exposure to India’s burgeoning building materials and housing renovation sectors.