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Apcotex Industries reported a 37% increase in net sales for June'14 quarter. With OPM up by 200 bps, OP jumped by 72%. Interest cost was down by 11% and change in accounting policy lead to higher depreciation by 68%. Thus PBT was up by 79%. After total tax of Rs 2.40 crore, up by 253% YoY, PAT for June'14 quarter stood at Rs 5.76 crore, up by 48% YoY.
Performance for the quarter ended June'2014
For the quarter ended June 2014, Apcotex registered 37% increase in net sales to Rs 102.96 crore. OPM increased by 200 bps resulted a 72% jump in OP to Rs 10.23 crore. Other income was up by 18% to Rs 1.22 crore and interest costs was down by 11% to Rs 0.90 crore. With a 68% increase in depreciation to Rs 2.39 crore mainly due to change in accounting policy on economic useful life of assets, PBT was up by 79% to Rs 8.16 crore. Thus after providing total tax of Rs 2.40 crore, up by 253% YoY, PAT for June'14 quarter stood at Rs 5.76 crore, up by 48% YoY.
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 in 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 186.
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