Apollo Pipes acquires 76% stake in Mazzini Tiles for ₹40.42 crore
- Apollo Pipes acquires 76% stake in Mazzini Tiles for ₹40.42 crore
- Target reported ₹87.15 crore turnover in FY26
- Deal marks entry into ceramic tiles sector via new subsidiary
- Board approved ₹300 crore investment envelope for business
*this image is generated using AI for illustrative purposes only.
Apollo Pipes has acquired a controlling 76% stake in Mazzini Tiles LLP for ₹40.42 crore through its newly incorporated subsidiary, Apollo Ceramics Limited. The transaction marks the company’s entry into the ceramic tiles sector.
The acquisition provides an immediate operating platform in building materials. Mazzini Tiles operates a manufacturing facility in Morbi, Gujarat, with an installed annual capacity of 72 lakh square meters. The target entity reported a turnover of ₹87.15 crore for FY26.
Strategic Expansion
The deal aligns with Apollo Pipes' strategy to strengthen its presence in building materials. The Board has approved an investment envelope of up to ₹300 crore for the tiles and ceramics business. This capital allocation supports manufacturing, contract manufacturing, trading, and distribution activities.
Mazzini Tiles specializes in Polished Glazed Vitrified Tiles (PGVT). It maintains a domestic distribution network and a growing export presence across key international markets. The acquisition allows Apollo Pipes to leverage its existing understanding of building material channels while accessing Mazzini's established product portfolio.
Financial Details
| Metric | Value |
|---|---|
| Stake Acquired | 76% |
| Consideration | ₹40.42 crore |
| Target Turnover (FY26) | ₹87.15 crore |
| Installed Capacity | 72 lakh sq. m. per annum |
The transaction is not a related-party deal. Promoters and group companies hold no interest in Mazzini Tiles. Singhi Advisors acted as exclusive M&A advisors for the acquisition.
What the Numbers Show
Mazzini Tiles demonstrated revenue growth between FY25 and FY26. Turnover rose from ₹76.67 crore in FY25 to ₹87.15 crore in FY26. This growth occurred despite a dip in FY24 turnover of ₹78.23 crore, indicating a recovery trajectory leading into the acquisition period.
Historical Stock Returns for Apollo Pipes
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.31% | -6.96% | -8.78% | +6.22% | +49.15% | -23.32% |
How will Apollo Pipes plan to utilize the remaining ₹259.58 crore of its approved ₹300 crore investment envelope for the tiles and ceramics business?
What specific synergies does Apollo Pipes expect to achieve by integrating Mazzini Tiles' distribution network with its existing building material channels?
How might this acquisition impact Apollo Pipes' overall profit margins given the competitive nature of the PGVT market in India?
15
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
