Apcotex Industries held a conference call on 29 July 2021 to discuss the results for the quarter ended June'21 and way forward. Mr. Abhiraj Choksey- Managing Director, Mr. Anand V Kumashi- Company Secretary and Mr. Sachin Karwa – Chief Financial Officerof the company addressed the call.

Highlights of the Concall

• Volumes were a little lower in Q1FY22 than Q4FY21 due to the second wave of Covid-19 and a partial maintenance shutdown at Taloja plant in June 2021.

• The company reported highest ever export sales - 24% of overall turnover for the quarter.

• The company shall complete all debottlenecking projects by Q2FY22 giving additional revenue of Rs 60-70 crore per annum once completed.

• The company mentioned that the Ministry of Finance has decided not to notify the Anti-dumping Duties on NBR despite DGTR recommending antidumping duties for both petitions, after a thorough investigation. s of now no ADD exists for NBR imports into India

• Taloja plant 3-year agreement with unionized workmen was amicably signed in this quarter.

• The company is now confident of maintaining its Ebitda margins at mid teens helped by higher capacity utilizations.

• Raw material prices have been rising for the last few months.

• The company has obtained initial environmental approvals in Q1FY22 to start construction for 2 new brownfield latex projects – one each at Valia and Taloja. The company has planned 50,000 tonne of XNB latex in Valia in first phase at a capex of Rs 110 crore which is expected to be commisioned next year which would give the company around Rs 400 crore of revenue at current prices. In Taloja the company is planning Rs 30-35 crore project which shall start after monsoon and complete by middle of next year which will give the company flexibility to manufacture 10000 tonne of XNB latex or any latex which shall give company around Rs 80 crore of revenue. Total capex investments expected to be around Rs 140-150 crore over the next 4 quarters