Capitaline

Results 28-Jul-22

Analysis

Apcotex Industries

Healthy growth

Apcotex Industries standalone net sales increased 65.47% to Rs 306.50 crore in Q1FY23 compared to Q1FY22.

Operating profit margin has jumped from 15.81% to 15.84%, leading to 65.79% rise in operating profit to Rs 48.56 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 66.11% to 66.13%. Employee cost decreased from 5.48% to 4.37%. Other expenses rose from 13.91% to 14.01%.

Other income fell 29.05% to Rs 1.71 crore. PBIDT rose 58.58% to Rs 50.27 crore. Provision for interest up 68.75% to Rs 1.35 crore.

PBDT rose 58.32% to Rs 48.92 crore. Provision for depreciation rose 8.96% to Rs 3.65 crore.

Profit before tax grew 64.32% to Rs 45.27 crore. Provision for tax was expense of Rs 11.71 crore, compared to Rs 5.69 crore. Effective tax rate was 25.87% compared to 20.65%.

Profit after tax rose 53.52% to Rs 33.56 crore.

Promoters’ stake was 58.20% as of 30 June 2022 ,compared to 58.20% as of 30 June 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 571

Apcotex Industries : Standalone Results
Particulars	2206 (03)	2106 (03)	Var.(%)	2203 (12)	2103 (12)	Var.(%)
Net Sales	306.5	185.23	65	956.89	540.64	77
OPM (%)	15.8	15.8		14.6	12.9
OP	48.56	29.29	66	139.81	69.87	100
Other Inc.	1.71	2.41	-29	7.89	5.19	52
PBIDT	50.27	31.7	59	147.7	75.06	97
Interest	1.35	0.8	69	3.25	3.81	-15
PBDT	48.92	30.9	58	144.45	71.25	103
Depreciation	3.65	3.35	9	14.09	14.51	-3
PBT	45.27	27.55	64	130.36	56.74	130
Taxation	11.71	5.69	106	31.55	12.58	151
PAT	33.56	21.86	54	98.81	44.16	124
PPA	0	0		0	0
PAT after PPA	33.56	21.86	54	98.81	44.16	124
EPS (Rs)*	#	#		19.1	8.5
Notes
* EPS is on current equity of Rs 10.37 crore, Face value of Rs 2, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

Previous News

Apcotex Industries
( Results - Analysis 29-Jul-21 07:36 )

Apcotex Industries announces board meeting date
( Corporate News - 20-Apr-24 09:41 )

Apcotex Industries
( Results - Analysis 30-Jan-19 17:32 )

Apcotex Industries
( Analyst Meet / AGM - Conference Call 29-Jul-21 19:49 )

Apcotex Industries to conduct AGM
( Corporate News - 24-May-21 11:47 )

Apcotex Industries standalone net profit declines 24.93% in the September 2015 quarter
( Results - Announcements 07-Nov-15 16:22 )

Apcotex Industries
( Analyst Meet / AGM - Conference Call 30-Jan-19 17:31 )

Apcotex Industries
( Analyst Meet / AGM - Conference Call 28-Apr-22 22:38 )

Apcotex Inds drops after weak Q4 outcome
( Hot Pursuit - 28-Apr-23 11:37 )

Apcotex Industries standalone net profit declines 23.17% in the December 2018 quarter
( Results - Announcements 31-Jan-19 08:28 )

Apcotex Industries
( Analyst Meet / AGM - Conference Call 18-Feb-20 11:03 )