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For the quarter ended September 2019, Apcotex Industries registered 23% fall in sales to Rs 124.06 crore. Topline of the company decreased due to lower realizations in some of the products and change in product mix (NBR volumes decreased while latex volumes increased)
OPM decreased 670 basis points to 5.6% which saw OP fell 65% to Rs 6.9 crore. Other income was Rs 2.11 crore compared to negative of Rs 0.37 crore and interest cost fell 23% to Rs 34 lakh. As depreciation grew 9% to Rs 3.23 crore, PBT fell 66% to Rs 5.44 crore. Provision for tax fell 68% to Rs 1.82 crore, after which PAT fell 64% to Rs 3.62 crore.
H1FY 2020 results
In H1FY 2020, it registered 13% fall in sales to Rs 270.79 crore. OPM fell 270 basis points to 9.2% which saw OP fell 32% to Rs 24.99 crore.
Other income grew 49% to Rs 3.26 crore and interest cost went down 16% to Rs 0.74 crore. After providing for depreciation (up 8% to Rs 6.28 crore), PBT fell 34% to Rs 21.24 crore. Provision for tax fell 43% to Rs 6.26 crore after which PAT went down 30% to Rs 14.98 crore.
The stock trades at Rs 179.
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