Performance for the quarter ended Mar'14

Net sales for the quarter ended Mar'14 quarter of Apcotex industries were up by 15% to Rs 81.01 crore. Raw material costs as a % to net sales net of stock adjustment, was up by 310 bps to 78.2%, while employee costs and other expenditure as a % to net sales net of stock adjustment, was lower by 60 bps and 200 bps respectively to 3.5% and 10.1%. Thus overall OPM was flat at 8.2% resulting in a 15% increase in OP to Rs 6.66 crore.

The other income for Mar'14 quarter stood at Rs 0.33 crore and was flat on YoY basis. The interest cost was up by 129% to Rs 0.94 crore, and depreciation was up by 106% to Rs 1.77 crore, thus resulting a PBT fall of 12% to Rs 4.28 crore. After providing for total tax of Rs 0.60 crore, down by 56% YoY the PAT for the Mar'14 quarter was up by 5% YoY to Rs 3.68 crore.

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 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.

The promoter shareholding is around 57.57% and none of them are pledged.

Share price trades at Rs 131.

Board of Directors declared a dividend of Rs 5 per share on fully paid up equity share of Rs 5 each for FY 2013-14.