Apcotex Industries Ltd - Stock Valuation and Financial Performance

BSE: 523694 | NSE: APCOTEXIND | Rubber Products | Small Cap

Apcotex Inds Share Price

386.90 -4.70 -1.20%
as on 21-Nov'24 16:59

DeciZen - make an informed investing decision on Apcotex Inds

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

Apcotex Industries stock performance -

mw4me loader
P/E Ratio (SA):
38.90
Market Cap:
2,030.3 Cr.
52-wk low:
371
52-wk high:
562.6

Is Apcotex Industries Ltd an attractive stock to invest in?

1. Is Apcotex Industries Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Apcotex Industries Ltd is a good quality company.

2. Is Apcotex Industries Ltd undervalued or overvalued?

The key valuation ratios of Apcotex Industries Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is Apcotex Industries Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Apcotex Industries Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Apcotex Inds:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Apcotex Industries Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 16.5%29.4%21.2%20.6%23%23.9%9.3%19.5%34.9%28%-
Value Creation
Index
0.21.10.50.50.60.7-0.30.41.51.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 2973552683885266264965419571,0801,255
Sales YoY Gr.-19.5%-24.4%44.6%35.6%18.9%-20.7%9%77%12.9%-
Adj EPS 2.34.13.93.47.88.72.88.318.320.110.1
YoY Gr.-76.8%-4.6%-14.3%130.3%12.4%-68.5%200.4%121.8%9.7%-
BVPS (₹) 16.419.236.14347.553.648.558.976.491.8104.9
Adj Net
Profit
12.121.420.417.540.245.214.342.89510452
Cash Flow from Ops. 9.932-64.422.253.238.836.375.247.5121-
Debt/CF from Ops. 4.91-0.410.30.11.40.21.11.3-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 15.4%15.5%29.6%12.9%
Adj EPS 27.1%21%94%9.7%
BVPS21.1%14.1%23.7%20.2%
Share Price 15.9% 18.8% -0.6% -28.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
14.823.114.28.517.117.35.415.427.123.910.2
Op. Profit
Mgn %
8.411.8147.412.411.1712.914.614.79.2
Net Profit
Mgn %
4.167.64.57.67.22.97.99.99.64.2
Debt to
Equity
0.60.30.10.10.100.20.10.10.30.1
Working Cap
Days
83761461331121091411289610162
Cash Conv.
Cycle
4035747663567453374321

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 29.61%

Net Profit is growing at healthy rate in last 3 years 94.04%

Sales growth is good in last 4 quarters at 19.49%

Return on Equity has declined versus last 3 years average to 10.20%

Latest Financials - Apcotex Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 10.1 7.4
TTM Sales (₹ Cr.) 1,255 296
BVPS (₹.) 104.9 0
Reserves (₹ Cr.) 533 187
P/BV 3.73 0.00
PE 38.90 52.69
From the Market
52 Week Low / High (₹) 371.00 / 562.60
All Time Low / High (₹) 0.95 / 678.00
Market Cap (₹ Cr.) 2,030
Equity (₹ Cr.) 10.4
Face Value (₹) 2
Industry PE 35

Management X-Ray of Apcotex Inds:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Apcotex Inds

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales3552683885266264965419571,0801,125
Operating Expenses 3132313594625574614718179211,011
Manufacturing Costs38314758646272123141143
Material Costs239167260348429335325601681749
Employee Cost 14152934383943515665
Other Costs 22182423252530434254
Operating Profit 42372964693470140159114
Operating Profit Margin (%) 11.8%13.9%7.4%12.1%11.0%7.0%12.9%14.6%14.7%10.1%
Other Income 68318865878
Interest 43433243516
Depreciation 991212121315141532
Exceptional Items 00-1-1000000
Profit Before Tax 3533435662255713014675
Tax 10981715813323821
Profit After Tax 252535394717449910854
PAT Margin (%) 7.0%9.2%9.0%7.3%7.4%3.4%8.2%10.3%10.0%4.8%
Adjusted EPS (₹)4.84.86.87.59.03.28.519.120.810.4
Dividend Payout Ratio (%)29%38%27%32%33%94%41%26%26%53%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 100187223246278251305396476522
Share Capital 5101010101010101010
Reserves 95177213236267241295386466511
Minority Interest0000000000
Debt231722174421147152152
Long Term Debt800012362612594
Short Term Debt141722173195202758
Trade Payables20342248534681100102135
Others Liabilities 384330324358546274114
Total Liabilities 181281297344377397452605803922

Fixed Assets

Gross Block12218999100110171205228468499
Accumulated Depreciation5810011223446607284115
Net Fixed Assets6390887976125145157384384
CWIP 256921191239128
Investments 311840756954829888111
Inventories1543454948605687105125
Trade Receivables4984789811189105162137203
Cash Equivalents 4106710161592224
Others Assets16323426413337545566
Total Assets 181281297344377397452605803922

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 32-6422533936754812140
PBT 3533435662255713014675
Adjustment 85-11671015171945
Changes in Working Capital -1-96-35-17715-70-8-63
Tax Paid -10-7-7-14-12-5-12-30-35-16
Cash Flow From Investing Activity -886-8-10-8-42-37-67-179-20
Capex -8-7-11-7-22-49-24-68-187-28
Net Investments -1181-5115-15077
Others 17512321111
Cash Flow From Financing Activity -26-17-17-18-307-461271-13
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -8-8-80129-2120950
Interest Paid -3-2-3-2-2-1-4-3-5-15
Dividend Paid -5-7-9-9-12-31-8-21-26-28
Others -913-7-1710-1415731
Net Cash Flow -25-32511-8-8138
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)26.6917.217.0616.4717.786.2915.8728.1724.7510.8
ROCE (%)29.4121.2120.622323.899.2819.5334.8828.0413.53
Asset Turnover Ratio2.161.291.51.681.741.281.271.811.541.31
PAT to CFO Conversion(x)1.28-2.560.631.360.832.121.70.481.120.74
Working Capital Days
Receivable Days47816860617465515055
Inventory Days15363732284039273237
Payable Days35604037435471555458

Apcotex Industries Ltd Stock News

Apcotex Industries Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Apcotex Inds on 21-Nov-2024 16:59 is ₹386.9.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Nov-2024 16:59 the market cap of Apcotex Inds stood at ₹2,030.3.
The latest P/E ratio of Apcotex Inds as of 21-Nov-2024 16:59 is 38.90.
The latest P/B ratio of Apcotex Inds as of 21-Nov-2024 16:59 is 3.73.
The 52-week high of Apcotex Inds is ₹562.6 and the 52-week low is ₹371.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Apcotex Inds is ₹1,255 ( Cr.) .

About Apcotex Industries Ltd

Apcotex Industries was established in the year 1980 as a division of Asian Paints (India). Apcotex spun-off as a separate company in 1991 and is now part of the 'APCO' group of companies headed by Atul Choksey, Chairman of Apcotex Industries and former Managing Director of Asian Paints. Apcotex Industries is one of the leading producers of VP latex, SB and carboxylated sb latexes , acrylic latexes , nitrile latex , SBR Latex , Carboxylated SBR , High Styrene Resin and Synthetic Rubber in India. It has one of the broadest ranges of products based on Styrene Butadiene chemistry.

Apcotex is an ISO 9001: 2000 certified company. Its segments include Paper & paper Products, Tyre Cord  dipping, carpet, Paints, Oil  resistant Gasket, Construction, Textiles, Footwear & Micro sheet, Conveyer belts, hoses & automotive components.

Its manufacturing plant is located at Taloja, 50 kms outside of Mumbai. The manufacturing facilities incorporate state-of-the-art emulsion polymerization technology as well as adequate monomer and finished goods storage facilities and efficient utility support. Additionally, sophisticated DCS control systems ensure fine control over operating parameters.

Products of the Company:-With basic engineering and process know-how from Chemische Werke Huls (CWH) Germany, Apcotex pioneered the production of Vinyl Pyridine Latex, an important raw material for the tyre industry, in India. The Company has following products such as:-

  • Carboxylated Styrene Butadiene Latices
  • Nitrile Latices
  • Styrene Butadiene Rubbers
  • Acrylic latexes,etc.

Awards/ Achievements

2011 - Apcotex Industries Ltd. - Taloja achieved a 'EXCELLENT' grade in Telos Safety Rating System which is an improvement over that achieved in the year May 2010

2012 -Apcotex was awarded the Total Productive Maintenance (TPM) Excellence Award Category A in March'2012 by the Japan Institute of Plant Maintenance (JIPM).

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