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Apcotex Industries reported a 19% increase in net sales for Dec'14 quarter to Rs 84.94 crore. With OPM up by 330 bps to 11.8% largely due to better operational leverage and higher exports, OP jumped by 65% to Rs 10.0 crore. Interest cost was down by 21% to Rs 0.81 crore and change in accounting policy led to higher depreciation by 15% to Rs 2.10 crore. Thus PBT was up by 120% to Rs 8.53 crore. After total tax of Rs 2.48 crore, up by 214% YoY, PAT for Dec'14 quarter stood at Rs 6.05 crore, up by 96% YoY.
Performance for the nine months ended Dec 2014
For the nien months ended Dec'14, Apcotex registered 29% increase in net sales to Rs 277.96 crore. OPM increased by 250 bps to 11% resulted a 65% jump in OP to Rs 30.52 crore. Other income was up by 135% to Rs 4.94 crore and interest costs was down by 16% to Rs 2.68 crore. With a 35% increase in depreciation to Rs 6.75 crore mainly due to change in accounting policy on economic useful life of assets, PBT was up by 110% to Rs 26.03 crore. Thus after providing total tax of Rs 7.12 crore, up by 145% YoY, PAT for the nine months ended Dec'14 stood at Rs 18.91 crore, up by 100% YoY.
Performance for year ended Mar'2014
Net sales for the year ending Mar'14 for Apcotex Industries stood at Rs 297.76 crore, up by 9% y.o.y. OPM was down by 20 bps to 8.4% resulting in 7% growth in OP to Rs 25.13 crore. There was an other income of Rs 2.43 crore, as compared to a loss of about Rs 1 lakh for Mar'13.
This has resulted in 17% rise in PBIDT to Rs 27.56 crore. Interest costs was up by 76% to Rs 4.14 crore and depreciation was up by 118% to Rs 6.77 crore. This resulted in a PBT fall of 8% to Rs 16.65 crore. There was a PPI of Rs 2 lakh in 12 months ended Mar'13 as compared to Nil for 12 months ended Mar'14. After providing total tax of Rs 3.51 crore, down by 33% YoY, PAT for 12 months ended Mar'14 stood at Rs 13.14 crore, up by 3% YoY.
Share price trades at Rs 540
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