The acquisition is part of Apollo Pipes’ board-approved investment plan of up to Rs 300 crore for its tiles and ceramics business. The platform may undertake manufacturing, including contract manufacturing, as well as trading, marketing and distribution of tiles, ceramics and allied products.

The company said the acquisition will enable it to leverage its established building-material distribution network and understanding of customer requirements, while utilising Mazzini Tiles’ PGVT portfolio and market network. The company also plans to combine owned and contract manufacturing to balance quality, speed and capital efficiency, with a focus on faster expansion and building a strong brand in the segment.

Sameer Gupta, managing director, Apollo Pipes, said, “Our entry into ceramic tiles through Mazzini Tiles is a considered extension of the Group’s building materials journey. Mazzini brings an operating base in Morbi, modern manufacturing capability, an established domestic network and a growing export presence. This gives us a strong starting platform in an attractive category.

Our approach will remain phased and disciplined. We intend to focus on product quality, design relevance, channel service, working-capital control and sustainable returns. The Board-approved investment envelope gives us flexibility to support Mazzini’s growth and evaluate additional opportunities where there is a clear strategic and financial fit.”

Apollo Pipes is an Indian provider of piping solutions, offering more than 3,000 products across cPVC, uPVC, PPR and HDPE pipes, water storage tanks, PVC taps, fittings and solvents. Its products cater to various applications across agriculture, water management, construction, infrastructure and telecom ducting.

The company reorted consolidated net loss of Rs 8.56 crore in Q1 FY27 compared with net profit of Rs 8.16 crore in Q1 FY26. Revenue from operations jumped 7.43% YoY to Rs 295.43 crore in Q1 FY27. Sales volumes declined 3% YoY to 24,477 tons in Q1 FY27.

The counter rallied 3.42% to settle at Rs 543.40 on the BSE.