Apcotex Industries Ltd

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Apcotex Industries Ltd

₹ 610 0.06%
23 Sep - close price
apcotex.com BSE: 523694 NSE: APCOTEXIND
About

Apcotex Industries Ltd is a leading producer of Synthetic Rubber (Nitrile Rubber, High Styrene Rubber, Nitrile Polyblends and Nitrile Powder) and Synthetic Latex (XSB Latex, VP Latex, Styrene Acrylics, and Nitrile Latex) in India.[1]

Key Points

Company Background:[1]
Apcotex began in 1980 as the synthetic latex division of Asian Paints, manufacturing Vinyl Pyridine Latex and Carboxylated Styrene Butadiene Latex. The business was spun off as a separate company in 1991 under Mr. Atul Choksey. The company today manufactures specialty emulsion polymers across Synthetic Latex and Synthetic Rubber.

Website BSE NSE
  • Market Cap ₹ 3,162 Cr.
  • Current Price ₹ 610
  • High / Low ₹ 712 / 310
  • Stock P/E 19.6
  • Book Value ₹ 120
  • Dividend Yield 1.31 %
  • ROCE 19.8 %
  • ROE 17.1 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 52.1%
  • Company's median sales growth is 15.9% of last 10 years

Cons

  • Company has a low return on equity of 12.8% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Products Rubber

Part of BSE Industrials BSE 1000

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
278 279 257 311 337 351 355 349 376 337 331 398 526
252 248 232 279 305 324 328 311 337 296 288 343 409
Operating Profit 26 32 25 31 32 27 27 38 39 41 44 55 117
OPM % 9% 11% 10% 10% 9% 8% 8% 11% 10% 12% 13% 14% 22%
2 2 2 2 2 3 5 1 3 10 -2 7 3
Interest 4 4 4 4 4 4 5 4 4 3 2 2 2
Depreciation 7 8 8 8 10 11 11 11 11 12 12 14 13
Profit before tax 16 21 15 21 20 15 16 24 26 36 28 45 105
Tax % 26% 28% 28% 28% 26% 28% 30% 32% 27% 30% 19% 23% 25%
12 15 11 15 15 11 12 17 19 25 22 35 79
EPS in Rs 2.34 2.95 2.15 2.95 2.85 2.11 2.23 3.23 3.70 4.88 4.29 6.70 15.23
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
352 265 388 526 626 496 541 957 1,080 1,125 1,392 1,442 1,591
309 227 358 461 556 461 471 817 921 1,011 1,268 1,264 1,335
Operating Profit 42 38 30 66 69 34 70 140 159 114 125 177 256
OPM % 12% 14% 8% 12% 11% 7% 13% 15% 15% 10% 9% 12% 16%
6 7 29 5 8 6 5 8 7 8 10 18 18
Interest 4 3 4 3 4 2 4 3 5 16 17 11 10
Depreciation 9 9 12 12 12 13 15 14 15 32 42 50 51
Profit before tax 35 33 43 56 62 25 57 130 146 75 76 135 213
Tax % 29% 26% 19% 31% 24% 32% 22% 24% 26% 28% 29% 25%
25 25 35 39 47 17 44 99 108 54 54 101 161
EPS in Rs 4.76 4.76 6.75 7.46 9.00 3.21 8.52 19.06 20.82 10.39 10.43 19.56 31.10
Dividend Payout % 30% 38% 27% 32% 33% 94% 41% 26% 26% 53% 62% 41%
Compounded Sales Growth
10 Years: 18%
5 Years: 22%
3 Years: 10%
TTM: 11%
Compounded Profit Growth
10 Years: 17%
5 Years: 18%
3 Years: -2%
TTM: 176%
Stock Price CAGR
10 Years: 15%
5 Years: 9%
3 Years: 7%
1 Year: 50%
Return on Equity
10 Years: 16%
5 Years: 17%
3 Years: 13%
Last Year: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 5 10 10 10 10 10 10 10 10 10 10 10
Reserves 95 177 213 236 267 241 295 386 466 511 543 611
31 25 22 17 4 49 15 50 152 188 189 96
50 75 52 80 95 97 132 158 176 212 256 269
Total Liabilities 181 288 297 344 377 397 452 605 803 922 999 986
63 90 88 79 76 125 145 157 385 386 386 364
CWIP 2 5 6 9 21 19 12 39 12 8 12 11
Investments 31 18 40 75 69 54 82 98 88 111 106 117
85 176 163 181 210 198 213 312 318 417 495 494
Total Assets 181 288 297 344 377 397 452 605 803 922 999 986

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
32 -64 22 53 39 36 75 48 121 40 85 203
-8 86 -8 -10 -8 -42 -37 -67 -179 -20 -29 -57
-26 -17 -17 -18 -30 7 -46 12 71 -13 -44 -141
Net Cash Flow -2 5 -3 25 1 1 -8 -8 13 8 11 5
Free Cash Flow 24 -71 22 46 17 -13 52 -20 -66 12 43 165
CFO/OP 99% -151% 97% 102% 74% 121% 124% 56% 99% 50% 83% 134%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 51 115 73 68 65 66 71 62 46 66 67 62
Inventory Days 23 90 63 52 41 65 63 53 56 61 50 49
Days Payable 31 71 31 50 45 50 91 61 55 66 68 70
Cash Conversion Cycle 43 135 105 69 61 81 43 54 48 61 48 40
Working Capital Days 10 63 62 47 51 42 42 44 36 35 25 33
ROCE % 26% 18% 10% 24% 24% 9% 19% 35% 28% 13% 13% 20%

Insights

In beta
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Nitrile Latex Installed Capacity (Valia)
MTPA (wet)

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Nitrile Rubber (NBR) Installed Capacity (Valia)
MTPA (dry)
Synthetic Latex Installed Capacity (Taloja)
MTPA (wet)
R&D Headcount
employees
Export Volume Growth (YoY %)
%
Nitrile Latex Revenue Share
% of total revenue
Sales Volume Growth (YoY %)
%
Export Revenue Share
% of total revenue

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

4 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
58.23% 58.23% 58.23% 58.23% 58.23% 58.23% 58.23% 58.23% 58.23% 58.23% 58.23% 58.23%
0.51% 0.51% 0.48% 0.49% 0.48% 0.47% 0.52% 0.50% 0.59% 0.62% 0.64% 0.69%
0.19% 0.44% 0.56% 0.63% 0.59% 0.68% 0.69% 1.00% 2.19% 2.23% 2.23% 1.91%
41.06% 40.82% 40.71% 40.64% 40.69% 40.63% 40.57% 40.29% 39.00% 38.92% 38.93% 39.18%
No. of Shareholders 37,02335,64435,22534,47933,88234,19933,58332,69231,47130,69330,39130,918

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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