New Delhi, September 19: Leading piping and plumbing manufacturer Apollo Pipes Limited’s subsidiary, Apollo Ceramics Limited, has acquired a 76% stake in Morbi-based Mazzini Tiles for ₹40.42 crore, as the company aims to move beyond its core competencies. The acquisition marks Apollo’s first step into the ceramic tile segment, as it aims to leverage Mazzini Tiles’ extensive distribution network and strong brand presence in the home improvement and construction sectors.
The acquisition is within the company’s commitment to invest up to ₹300 crore in its ceramics division, with Mazzini offering an annual production capacity of 72 lakh sq metres and a turnover of ₹87.15 crore for FY26, Apollo said in a regulatory filing. With this investment, Apollo Pipes gets a footprint in the ceramic tiles sector, with an immediate manufacturing foothold and technical expertise in the industry.
With this diversification, Apollo Pipes now has a stronger addressable wallet share in the housing and infrastructure markets. Investors have reacted positively to this development, with Apollo Pipes shares rising 2.88% in early morning trades on September 19.
