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Apcotex Industries net sales increased 61.65% to Rs 186.92 crore in Q4FY21 compared to Q4FY20. Operating profit margin has jumped from 6.84% to 16.07%, leading to 279.65% rise in operating profit to Rs 30.03 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 67.90% to 61.98%. Employee cost decreased from 8.45% to 5.87%. Other expenses fell from 16.75% to 15.91%.
Other income was up 63.20% to Rs 2.04 crore. Provision for interest increased 97.50% to Rs 0.79 crore. Provision for depreciation was down 8.71% to Rs 3.25 crore. Profit before tax grew 439.04% to Rs 28.03 crore. Provision for tax was expense of Rs 5.43 crore, compared to Rs 2.13 crore. Effective tax rate was 19.37% compared to 40.96%. Profit after tax rose 636.16% to Rs 22.60 crore.
FY21 performance
Net sales of Apcotex Industries increased 9% to Rs 540.64 crore. Operating profit margin has jumped from 6.73% to 12.69%, leading to 105.39% rise in operating profit to Rs 68.58 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 70.16% to 62.22%. Employee cost increased from 7.90% to 8.09%. Other expenses rose from 15.24% to 16.82%.
Other income up 9.27% to Rs 6.48 crore. Provision for interest up 190.84% to Rs 3.81 crore. Loan funds declined from Rs 41.50 crore as of 31 March 2020 to Rs 11.09 crore as of 31 March 2021. Inventories declined from Rs 59.67 crore as of 31 March 2020 to Rs 55.83 crore as of 31 March 2021. Sundry debtors were higher at Rs 104.85 crore as of 31 March 2021 compared to Rs 89.07 crore as of 31 March 2020. Cash and bank balance declined from Rs 16.01 crore as of 31 March 2020 to Rs 15.02 crore as of 31 March 2021. Investments rose to Rs 82.38 crore as of 31 March 2021 from Rs 54.43 crore as of 31 March 2020 .
Provision for depreciation rose 8.28% to Rs 14.51 crore. Fixed assets increased to Rs 155.66 crore as of 31 March 2021 from Rs 143.26 crore as of 31 March 2020. Intangible assets declined from Rs 0.97 crore to Rs 0.66 crore.
Profit before tax grew 130.56% to Rs 56.74 crore. Provision for tax was expense of Rs 12.58 crore, compared to Rs 7.98 crore. Effective tax rate was 22.17% compared to 32.43%.
Profit after tax rose 165.54% to Rs 44.16 crore.
Promoters' stake was 58.17% as of 31 March 2021compared to 58.02% as of 31 March 2020 .
Cash flow from operating activities increased to Rs 75.22 crore for year ended March 2021 from Rs 36.32 crore for year ended March 2020. Cash flow used in acquiring fixed assets during the year ended March 2021 stood at Rs 23.75 crore, compared to Rs 50.22 crore during the year ended March 2020.
The stock trades at Rs 294.
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