Apollo Pipes Acquires 76% Stake in Mazzini Tiles for ₹40.42 Crore, Expands into Ceramics
Apollo Pipes Limited, through its subsidiary Apollo Ceramics Limited, acquired a 76% stake in Mazzini Tiles LLP for ₹40.42 Crore. This move expands the company into the ceramic tiles sector. Mazzini Tiles reported a turnover of ₹87.15 Crore for FY26. The acquisition is part of a ₹300 Crore investment plan.
The acquisition represents a significant strategic diversification into a new business vertical (ceramics and tiles) for Apollo Pipes, which is expected to contribute to future revenue streams and market presence.
The acquisition is a strategic move to expand into a new, attractive business segment with a significant market opportunity, indicating positive future growth prospects.
Apollo Pipes Limited announced that its subsidiary, Apollo Ceramics Limited (ACL), has acquired a 76% stake and profit-sharing rights in Mazzini Tiles LLP for a cash consideration of ₹40.42 Crore. This strategic acquisition marks Apollo Pipes' entry into the ceramic tiles sector and strengthens its presence in the building materials segment.
Mazzini Tiles LLP, based in Morbi, Gujarat, is engaged in the manufacturing of tiles and ceramic products. For the financial year ended March 31, 2026, Mazzini reported a turnover of ₹87.15 Crore. The acquisition is part of Apollo Pipes' broader strategy and an approved investment plan of up to ₹300 Crore for its tiles and ceramics business.
The transaction is not a related party transaction and has been undertaken on an arm's length basis. The acquisition provides Apollo Pipes with an established manufacturing facility, a product portfolio, and market access from day one. The company aims to leverage Mazzini's existing network and platform for market penetration and product expansion, focusing on quality, design, channel service, 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 high impact, which is the band that most often changes something.
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