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For the quarter ended Sep'20, Apcotex Industries registered 4% rise in sales to Rs 129.28 crore. OPM was up 880 bps to 14.4% compared to 5.6% which saw 169% rise in OP to Rs 18.57 crore compared to profit of Rs 6.9 crore in Q2FY20.Other income was Rs 1.18 crore compared to Rs 2.11 crore and interest cost rose306% to Rs 1.39crore. As depreciation grew 24% to Rs 4.01 crore, PBT was up 164% to Rs 14.35 crore. Tax expense increased 50% to Rs 2.72 crore compared to Rs 1.82 crore, after which PAT increased 221% to Rs 11.63 crore.
In compliance with the directions issued by the Central and State Governments to contain the spread of COVID 19 pandemic, the company suspended sales and manufacturing operations for some time during the quarter ended on June 30, 2020. However, during the quarter ended on September 30, 2020, the company has resumed normal operations under strict observance of guidelines issued by relevant statutory authorities to mitigate the risk of COVID 19. Consequently, the operational and financial performance of the company has improved.
H1FY'21 results
In H1FY'21, it registered 30% fall in sales to Rs 189.15 crore. OPM fell 170 basis points to 7.5% which saw OP fell 43% to Rs 14.26 crore.
Other income fell6% to Rs 3.06 crore and interest cost went up205% to Rs 2.26crore. After providing for depreciation (up23% to Rs 7.71 crore), PBT fell 65% to Rs 7.34 crore. Provision for tax was credit of Rs 34 lakh compared to tax expense of Rs 4.44 crore after which PAT went down54% to Rs 7.68 crore.
The stock trades at Rs 160.
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