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Results
21-Oct-22
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Analysis
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Apcotex Industries
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OP up 44%
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Apcotex
Industries standalone net sales increased 16.35% to Rs 283.20 crore. Operating profit margin has jumped from
12.90% to 15.95%, leading to 43.85% rise in operating profit to Rs 45.17 crore. Raw material cost as a % of total sales (net
of stock adjustments) decreased from 70.63% to 65.63%. Employee cost increased from 4.85% to
4.97%. Other expenses rose from 11.41%
to 13.62%.
Other
income up 43.86% to Rs 2.46 crore. PBIDT
rose 43.85% to Rs 47.63 crore. Provision
for interest up 129.89% to Rs 2 crore.
PBDT
rose 41.53% to Rs 45.63 crore. Provision
for depreciation rose 6.53% to Rs 3.75 crore.
Profit
before tax grew 45.82% to Rs 41.88 crore.
Provision for tax was expense of Rs 11.08 crore, compared to Rs 6.46
crore. Effective tax rate was 26.46%
compared to 22.49%.
Profit
after tax rose 38.36% to Rs 30.80 crore.
Equity
capital stood at Rs 10.37 crore as of 30 September 2022 to Rs 10.37 crore as of
30 September 2021. Per share face Value
remained same at Rs 2.00.
Promoters’
stake was 58.20% as of 30 September 2022 ,compared to 58.20% as of 30 September
2021 .
For year-to-date (YTD)
results analysis
Net
sales of Apcotex Industries have increased 37.58% to Rs 589.69 crore. Operating profit margin has jumped from
14.16% to 15.89%, leading to 54.40% rise in operating profit to Rs 93.72
crore. Raw material cost as a % of total
sales (net of stock adjustments) decreased from 68.56% to 65.89%. Employee cost decreased from 5.14% to
4.66%. Other expenses rose from 12.56%
to 13.83%.
Other
income up 1.21% to Rs 4.17 crore. PBIDT
rose 51.02% to Rs 97.89 crore. Provision
for interest up 98.81% to Rs 3.34 crore.
PBDT
rose 49.75% to Rs 94.55 crore. Provision
for depreciation rose 7.87% to Rs 7.4 crore.
Profit
before tax grew 54.85% to Rs 87.15 crore.
Provision for tax was expense of Rs 22.8 crore, compared to Rs 12.15
crore. Effective tax rate was 26.16%
compared to 21.59%.
Profit
after tax rose 45.82% to Rs 64.35 crore.
Equity
capital stood at Rs 10.37 crore as of 30 September 2022 to Rs 10.37 crore as of
30 September 2021. Per share face Value
remained same at Rs 2.00.
Promoters’
stake was 58.20% as of 30 September 2022 ,compared to 58.20% as of 30 September
2021 .
Full year results
analysis
Net
sales of Apcotex Industries have increased 76.99% to Rs 956.89 crore. Operating
profit margin has jumped from 12.92% to 14.61%, leading to 100.10% rise in
operating profit to Rs 139.81 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
62.22% to 65.48%. Employee cost
decreased from 8.09% to 5.27%. Other
expenses fell from 16.58% to 14.77%.
Other
income up 52.02% to Rs 7.89 crore. PBIDT rose 96.78% to Rs 147.7 crore.
Provision for interest fell 14.70% to Rs 3.25 crore. Loan funds rose to Rs 50.26 crore as of 31
March 2022 from Rs 14.59 crore as of 31 March 2021. Inventories rose to Rs
87.12 crore as of 31 March 2022 from Rs 55.83 crore as of 31 March 2021. Sundry debtors were higher at Rs 161.76 crore
as of 31 March 2022 compared to Rs 104.85 crore as of 31 March 2021. Cash and
bank balance declined from Rs 15.02 crore as of 31 March 2021 to Rs 8.89 crore
as of 31 March 2022. Investments rose to
Rs 97.52 crore as of 31 March 2022 from Rs 82.38 crore as of 31 March
2021.
PBDT
rose 102.74% to Rs 144.45 crore.
Provision for depreciation down 2.89% to Rs 14.09 crore. Fixed assets increased to Rs 194.58 crore as
of 31 March 2022 from Rs 155.66 crore as of 31 March 2021. Intangible assets declined from Rs 0.66 crore
to Rs 0.58 crore.
Profit
before tax grew 129.75% to Rs 130.36 crore.
Provision for tax was expense of Rs 31.55 crore, compared to Rs 12.58
crore. Effective tax rate was 24.20%
compared to 22.17%.
Profit
after tax rose 123.75% to Rs 98.81 crore.
Equity
capital stood at Rs 10.37 crore as of 31 March 2022 to Rs 10.37 crore as of 31
March 2021. Per share face Value
remained same at Rs 2.00.
Promoters
stake was 58.15% as of 31 March 2022 compared to 58.17% as of 31 March 2021.
Cash
flow from operating activities decreased to Rs 47.54 crore for year ended March
2022 from Rs 75.22 crore for year ended March 2021. Cash flow used in acquiring fixed assets
during the year ended March 2022 stood at Rs 67.95 crore, compared to Rs 23.75
crore during the year ended March 2021.
The
stock trades at Rs 582
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Apcotex Industries : Standalone Results
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Particulars
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2209 (03)
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2109 (03)
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Var.(%)
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2209 (06)
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2109 (06)
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Var.(%)
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2203 (12)
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2103 (12)
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Var.(%)
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Net Sales
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283.2
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243.41
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16
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589.69
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428.63
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38
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956.89
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540.64
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77
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OPM (%)
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15.9
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12.9
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15.9
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14.2
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14.6
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12.9
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OP
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45.17
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31.4
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44
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93.72
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60.7
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54
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139.81
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69.87
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100
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Other Inc.
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2.46
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1.71
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44
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4.17
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4.12
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1
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7.89
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5.19
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52
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PBIDT
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47.63
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33.11
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44
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97.89
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64.82
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51
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147.7
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75.06
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97
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Interest
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2
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0.87
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130
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3.34
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1.68
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99
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3.25
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3.81
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-15
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PBDT
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45.63
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32.24
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42
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94.55
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63.14
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50
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144.45
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71.25
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103
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Depreciation
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3.75
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3.52
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7
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7.4
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6.86
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8
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14.09
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14.51
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-3
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PBT
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41.88
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28.72
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46
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87.15
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56.28
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55
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130.36
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56.74
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130
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Taxation
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11.08
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6.46
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72
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22.8
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12.15
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88
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31.55
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12.58
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151
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PAT
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30.80
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22.26
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38
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64.35
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44.13
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46
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98.81
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44.16
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124
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PPA
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0
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0
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0
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0
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0
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0
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PAT
after PPA
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30.80
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22.26
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38
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64.35
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44.13
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46
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98.81
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44.16
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124
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EPS (Rs)*
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#
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#
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#
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#
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19.1
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8.5
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Notes
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* EPS is on current equity of Rs 10.37 crore, Face value of Rs
2, Excluding extraordinary items.
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# EPS is not annualised
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bps : Basis points
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EO : Extraordinary items
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Figures in Rs crore
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Source: Capitaline Corporate Database
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