Apollo Pipes Acquires 76% Stake in Mazzini Tiles for ₹40.42 Crore
Apollo Pipes Limited acquired a 76% stake in Mazzini Tiles LLP for ₹40.42 Crore through its subsidiary Apollo Ceramics Limited. Mazzini Tiles reported a turnover of ₹87.15 Crore for FY26. This acquisition is part of Apollo Pipes' ₹300 Crore investment plan in the tiles and ceramics sector.
The acquisition is of medium impact as it signifies diversification and expansion into a new business vertical, which could lead to significant future growth and revenue diversification for Apollo Pipes.
The acquisition is positive as it represents strategic expansion into a new segment (ceramic tiles) for Apollo Pipes, leveraging an existing player with established infrastructure and market presence.
Apollo Pipes Limited, through its subsidiary Apollo Ceramics Limited, has acquired a 76% stake and profit-sharing rights in Mazzini Tiles LLP, thereby gaining a controlling interest. This acquisition marks Apollo Pipes' entry into the ceramic tiles sector and is aligned with its strategy to expand its presence in the building materials segment.
The acquisition was completed for a cash consideration of ₹40.42 Crore. Mazzini Tiles LLP, primarily engaged in the manufacturing of tiles and ceramic products, operates a facility in Morbi, Gujarat, with an installed annual capacity of 72 lakh square meters. For the financial year ended March 31, 2026, Mazzini Tiles LLP reported a turnover of ₹87.15 Crore.
This move is part of Apollo Pipes' board-approved investment plan of up to ₹300 Crore for its tiles and ceramics business. The company aims to leverage Mazzini's existing manufacturing base, product portfolio, and market access to accelerate growth, expand its product offerings, and strengthen its distribution channels and export presence. The acquisition is not a related party transaction and was undertaken on an arm's length basis.
Sameer Gupta, Managing Director of Apollo Pipes Limited, stated that the entry into ceramic tiles is a considered extension of the Group's building materials journey, providing a strong starting platform in an attractive category. The company plans a phased and disciplined approach, focusing on product quality, design relevance, channel service, working-capital control, and sustainable returns.
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Apollo Pipes Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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