Apcotex Industries Ltd
Apcotex Industries Ltd is engaged in the production of various types of synthetic latex and synthetic rubber.
It was started in 1980 as a division of Asian Paints, manufacturing synthetic latex and was later spun-off as a separate company under the leadership of Mr. Atul Choksey, former MD of Asian Paints Ltd.[1]
- Market Cap ₹ 2,622 Cr.
- Current Price ₹ 506
- High / Low ₹ 610 / 398
- Stock P/E 30.3
- Book Value ₹ 91.8
- Dividend Yield 1.08 %
- ROCE 28.0 %
- ROE 24.7 %
- Face Value ₹ 2.00
Pros
- Company has delivered good profit growth of 21.6% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 31.2%
- Debtor days have improved from 59.6 to 46.3 days.
Cons
* 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
Sector: Plantation & Plantation Products Industry: Miscellaneous
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
253 | 270 | 293 | 352 | 265 | 388 | 526 | 626 | 496 | 541 | 957 | 1,080 | 1,051 | |
233 | 246 | 267 | 309 | 227 | 358 | 461 | 556 | 461 | 471 | 817 | 921 | 916 | |
Operating Profit | 20 | 24 | 26 | 42 | 38 | 30 | 66 | 69 | 34 | 70 | 140 | 159 | 135 |
OPM % | 8% | 9% | 9% | 12% | 14% | 8% | 12% | 11% | 7% | 13% | 15% | 15% | 13% |
3 | -0 | 2 | 6 | 7 | 29 | 5 | 8 | 6 | 5 | 8 | 7 | 8 | |
Interest | 4 | 3 | 5 | 4 | 3 | 4 | 3 | 4 | 2 | 4 | 3 | 5 | 7 |
Depreciation | 3 | 3 | 7 | 9 | 9 | 12 | 12 | 12 | 13 | 15 | 14 | 15 | 19 |
Profit before tax | 16 | 18 | 17 | 35 | 33 | 43 | 56 | 62 | 25 | 57 | 130 | 146 | 117 |
Tax % | 30% | 29% | 21% | 29% | 26% | 19% | 31% | 24% | 32% | 22% | 24% | 26% | |
11 | 13 | 13 | 25 | 25 | 35 | 39 | 47 | 17 | 44 | 99 | 108 | 86 | |
EPS in Rs | 2.20 | 2.46 | 2.54 | 4.76 | 4.76 | 6.75 | 7.46 | 9.00 | 3.21 | 8.52 | 19.06 | 20.82 | 16.69 |
Dividend Payout % | 36% | 37% | 40% | 30% | 38% | 27% | 32% | 33% | 94% | 41% | 26% | 26% |
Compounded Sales Growth | |
---|---|
10 Years: | 15% |
5 Years: | 15% |
3 Years: | 30% |
TTM: | -3% |
Compounded Profit Growth | |
---|---|
10 Years: | 23% |
5 Years: | 22% |
3 Years: | 89% |
TTM: | -22% |
Stock Price CAGR | |
---|---|
10 Years: | 36% |
5 Years: | 17% |
3 Years: | 53% |
1 Year: | -11% |
Return on Equity | |
---|---|
10 Years: | 18% |
5 Years: | 20% |
3 Years: | 24% |
Last Year: | 25% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
5 | 5 | 5 | 5 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | |
Reserves | 65 | 73 | 80 | 95 | 177 | 213 | 236 | 267 | 241 | 295 | 386 | 466 |
58 | 48 | 48 | 31 | 25 | 22 | 17 | 4 | 49 | 15 | 50 | 152 | |
39 | 46 | 50 | 50 | 75 | 52 | 80 | 95 | 97 | 132 | 158 | 176 | |
Total Liabilities | 167 | 172 | 183 | 181 | 288 | 297 | 344 | 377 | 397 | 452 | 605 | 803 |
32 | 65 | 68 | 63 | 90 | 88 | 79 | 76 | 125 | 145 | 157 | 385 | |
CWIP | 7 | 1 | 1 | 2 | 5 | 6 | 9 | 21 | 19 | 12 | 39 | 12 |
Investments | 21 | 23 | 24 | 31 | 18 | 40 | 75 | 69 | 54 | 82 | 98 | 88 |
106 | 83 | 90 | 85 | 176 | 163 | 181 | 210 | 198 | 213 | 312 | 318 | |
Total Assets | 167 | 172 | 183 | 181 | 288 | 297 | 344 | 377 | 397 | 452 | 605 | 803 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
7 | 28 | 10 | 32 | -64 | 22 | 53 | 39 | 36 | 75 | 48 | 121 | |
-8 | -28 | -6 | -8 | 86 | -8 | -10 | -8 | -42 | -37 | -67 | -179 | |
27 | -19 | -14 | -26 | -17 | -17 | -18 | -30 | 7 | -46 | 12 | 71 | |
Net Cash Flow | 26 | -19 | -9 | -2 | 5 | -3 | 25 | 1 | 1 | -8 | -8 | 13 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 65 | 64 | 64 | 51 | 115 | 73 | 68 | 65 | 66 | 71 | 62 | 46 |
Inventory Days | 26 | 20 | 28 | 23 | 90 | 63 | 52 | 41 | 65 | 63 | 53 | 56 |
Days Payable | 27 | 35 | 40 | 31 | 71 | 31 | 50 | 45 | 50 | 91 | 61 | 55 |
Cash Conversion Cycle | 64 | 48 | 52 | 43 | 135 | 105 | 69 | 61 | 81 | 43 | 54 | 48 |
Working Capital Days | 52 | 25 | 33 | 25 | 87 | 82 | 59 | 53 | 56 | 48 | 53 | 45 |
ROCE % | 18% | 17% | 16% | 26% | 18% | 10% | 24% | 24% | 9% | 19% | 35% | 28% |
Documents
Announcements
- Closure of Trading Window 25 Sep
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
21 Sep - Disclosure under Regulation 30 of SEBI (SEBI) (LODR) Regulations, 2015
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 13 Sep
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 11 Sep
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 6 Sep
Annual reports
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Financial Year 2023
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Financial Year 2010
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Concalls
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Product Portfolio
The company is a leading producer of Synthetic Rubber and Synthetic Latex in India:-
a. Synthetic Rubber:- Nitrile Rubber, High Styrene Rubber, Nitrile Rubber, Nitrile Polyblends, and Nitrile powder.
b. Synthetic Latex:- XSB Latex, BP Latex, Styrene acrylics, and Nitrile Latex.
It has one of the broadest ranges of Emulsion polymers in the market. [1] The company is the only Indian manufacturer of XNB Latex used in gloves. [2]