Acquisition

September 18, 2026 The National Stock Exchange of India Limited Department of Corporate Services/Listing Exchange Plaza, 5th Floor, BSE Limited Plot No. C/1, G Block, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Bandra (East), Dalal Street, Fort, Mumbai – 400 051 Mumbai – 400 001 N SE Symbol: APOLLOPIPE S CRIP Code: 531761 Subject: Acquisition of controlling interest in Mazzini Tiles LLP by a Subsidiary of the Company Ref: Disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dear Sir/Madam, Pursuant to Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), we wish to inform you that Apollo Ceramics Limited (“ACL”), a Subsidiary of the Company, has acquired 76% stake and profit sharing rights in Mazzini Tiles LLP (“Mazzini”), thereby acquiring a controlling interest in Mazzini. The acquisition is in line with the Company's strategy to expand its presence in the tiles and ceramics business and strengthen its presence in the building materials segment. Intimation regarding the aforesaid acquisition was received by the Company on 18th September, 2026. The detailed information as required under Regulation 30 read with events specified in Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, as amended, are enclosed herewith as “Annexure-A”. Further, a press release on the aforesaid transaction is enclosed herewith as “Annexure-B”. This information is also being uploaded on the website of the Company at www.apollopipes.com. You are requested to take the above information on record. Thanking you, Yours faithfully, For Apollo Pipes Limited Gourab Kumar Nayak Company Secretary and Compliance Officer Encl: As above Annexure A Details as required under Regulation 30 of Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Sl Particulars Apollo Ceramics Limited 1. Name of the target entity, details in brief such as size, Mazzini Tiles LLP turnover etc Turnover of Mazzini Tiles LLP was Rs. 87.15 Crore for the financial year ended March 31, 2026. 2 Whether the acquisition would fall within related The acquisition does not fall within party transaction(s) and whether the promoter/ related party transaction(s). The promoter group/ group companies have any interest in promoter/promoter group/group the entity being acquired? If yes, nature of interest and companies of the Company do not details thereof and whether the same is done at “arm’s have any interest in the entity being length”; acquired. The transaction is undertaken on an arm’s length basis. 3 Industry to which the entity being acquired belongs; Building materials industry (Tiles and Ceramics) 4 Objects and impact of acquisition (including but not The acquisition is in line with the limited to, disclosure of reasons for acquisition of Company's strategy to expand its target entity, if its business is outside the main line of presence in the tiles and ceramics business of the listed entity); business and strengthen its presence in the building materials segment. 5 Brief details of any governmental or regulatory Not Applicable approvals required for the acquisition; 6 Indicative time period for completion of the The acquisition has been completed. acquisition 7 Consideration - whether cash consideration or share Cash consideration. swap or any other form and details of the same; 8 Cost of acquisition and/or the price at which the shares Rs. 40.42 Crore are acquired; 9 Percentage of shareholding / control acquired and / or 76% stake and profit sharing rights in number of shares acquired Mazzini Tiles LLP. 10 Brief background about the entity acquired in terms of Brief Background about the entity: products/line of business acquired, date of incorporation, history of last 3 years turnover, country Primarily engaged in the in which the acquired entity has presence and any manufacturing of tiles and ceramic other significant information (in brief); products. The LLP operates its manufacturing facility at Morbi, Gujarat, one of the major ceramic manufacturing hubs in India. Date of incorporation: April 05, 2017 Country of presence: India Last 3 Years Turnover: FY 2025-26: 87.15 Crore FY 2024-25: 76.67 Crore FY 2023-24: 78.23 Crore Annexure-B Press Release Apollo Pipes enters ceramic tiles sector through Mazzini Tiles Apollo Pipes acquires a controlling interest through newly incorporated subsidiary Apollo Ceramics Limited. ₹300 crore 72 lakh sq. m. Morbi Approved investment envelope Installed annual capacity Established manufacturing base Noida, Sep 18, 2026: Apollo Pipes has entered the ceramic tiles sector through the acquisition of a controlling interest in Mazzini Tiles LLP. The transaction has been executed through Apollo Ceramics Limited, a newly incorporated subsidiary of Apollo Pipes Limited which has acquired 76% of the stake and profit sharing rights in Mazzini Tiles LLP for a consideration of ₹40.42 Crore. The acquisition has been completed. The transaction forms part of Apollo Pipes’ Board-approved investment plan of up to ₹300 crore for the tiles and ceramics business. The approved platform may undertake • manufacturing, including contract manufacturing • Trading, marketing and distribution of tiles, ceramics and allied products, An operating platform from day one Mazzini Tiles is an established Indian tiles player with a domestic network and a growing export presence across key international markets. The company has developed a position in Polished Glazed Vitrified Tiles (PGVT). It operates a modern manufacturing facility at Morbi, Gujarat, equipped with advanced imported machinery and installed capacity of 72 lakh square meters per annum. The acquisition gives Apollo Pipes an operating manufacturing base, an established product portfolio and market access from the outset. It is expected to shorten the time required to build capabilities and provide a platform from which the Group can pursue product expansion, channel development and exports in a calibrated manner. Main benefits from this acquisition are: • Leveraging Apollo Pipe’s established understanding of building material channels and customer requirements. • Building on Mazzini’s position in PGVT • Leveraging Mazzini’s Network and platform for market penetration • Use owned and contract manufacturing to balance quality, speed and capital efficiency. • Focus on faster expansion and to carve out a solid brand identity Vision for the new platform Apollo Pipes’ objective is to build Mazzini into a trusted, scalable and return-focused tiles platform by: • Build a scaled, trusted and differentiated tiles and ceramics platform with a strong presence across domestic and international markets • Leverage Mazzini Tiles’ established manufacturing base, product capabilities and distribution network to accelerate growth • Develop a comprehensive and design-led product portfolio for residential, commercial and institutional applications • Expand through improved capacity utilisation, a wider dealer network, export growth, contract manufacturing and selective acquisitions • Create a meaningful long-term growth engine for the Group through disciplined capital allocation, prudent working-capital management and sustainable shareholder returns Indian addressable market • India’s ceramic tile industry was estimated at ~ ₹62,000 crore - ₹65,000 crore • Growth is driven by residential and commercial construction, renovation demand, urbanization and increasing preference for branded and premium tiles • Mazzini’s 72 lakh sq. m. annual capacity, domestic distribution network and export presence provide Apollo Pipes with an established platform to capture this oppor [Showing first 8,000 characters — download PDF for full document]