Apcotex Industries Ltd

Apcotex Industri Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Apcotex Industries Ltd

₹ 506 0.56%
29 Sep 11:36 a.m.
apcotex.com BSE: 523694 NSE : APCOTEXIND
About

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]

Key Points

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]

Website BSE NSE
  • 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
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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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023
60 129 165 187 185 243 251 277 306 283 234 256 278
64 110 140 157 156 212 217 232 258 238 203 222 252
Operating Profit -4 19 24 30 29 31 34 45 49 45 31 34 26
OPM % -7% 15% 15% 16% 16% 13% 14% 16% 16% 16% 13% 13% 9%
2 1 1 2 2 2 2 2 2 2 2 1 2
Interest 1 1 1 1 1 1 1 1 1 2 1 1 4
Depreciation 4 4 4 3 3 4 4 4 4 4 4 4 7
Profit before tax -7 14 21 28 28 29 32 42 45 42 28 31 16
Tax % 5% 19% 22% 19% 21% 22% 25% 27% 26% 26% 26% 24% 26%
-7 12 17 23 22 22 24 31 34 31 20 23 12
EPS in Rs -1.29 2.24 3.20 4.36 4.22 4.29 4.59 5.96 6.47 5.94 3.93 4.48 2.34
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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%

Shareholding Pattern

Numbers in percentages

Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023
58.12% 58.15% 58.17% 58.20% 58.20% 58.15% 58.15% 58.20% 58.22% 58.23% 58.23% 58.23%
0.00% 0.00% 0.00% 1.35% 0.40% 0.89% 0.91% 1.00% 0.86% 0.47% 0.48% 0.49%
0.48% 0.48% 0.48% 0.10% 0.02% 0.02% 0.08% 0.17% 0.17% 0.10% 0.10% 0.05%
0.38% 0.38% 0.38% 0.38% 0.43% 0.43% 0.43% 0.43% 0.00% 0.00% 0.00% 0.00%
41.02% 40.99% 40.97% 39.96% 40.95% 40.51% 40.43% 40.20% 40.77% 41.19% 41.18% 41.22%
No. of Shareholders 29,37228,29128,25829,23834,48130,70529,67432,13936,84138,60637,88838,685

* 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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