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Apcotex Industries Ltd. Stock Analysis

Small Cap
Evaluated by 706 users | BSE: 523694 | NSE: APCOTEXIND |
Chemicals
Apcotex Industries was established in the year 1980 as a division of Asian Paints (India). Apcotex spun-off as a separate company in 1991 and is now part of the 'APCO' group of companies headed by Atul Choksey, Chairman of Apcotex Industries and former Managing Director of Asian Paints....

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Value Creation
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 14.23%12.11%11.97%11.9%18.3%13.09%8.2%14.98%17.47%5.48%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 203255273297355268388526626496
Y-o-Y Gr. Rt.-25.6%7.2%8.6%19.5%-24.4%44.6%35.6%18.9%-20.7%
Adjusted EPS (Rs.) 1.92.022.592.334.123.933.116.988.722.75
Y-o-Y Gr. Rt.-6.3%28.2%-10%76.8%-4.6%-20.9%124.4%24.9%-68.5%
Book Value per Share (Rs.) 12.3713.4515.0816.4419.2336.142.9947.5253.5748.47
Adjusted Net Profit 9.910.513.412.121.420.416.136.245.214.3
Net Op. Cash Flow (Rs. Cr.) 1.57.427.99.932-64.422.253.238.836.3
Debt to Cash Flow from Ops 18.447.861.714.850.97-0.3910.330.11.35
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Apcotex Industries Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 10.4%6.9%8.5%-20.7%
Adjusted EPS 4.2%-7.8%-4%-68.5%
Book Value per Share 16.420.34.1-9.5
Share Price 26.7% 5.2% -7.4% -33%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 16.1715.6318.1714.8123.0914.27.8715.4317.255.39
Operating Profit Margin (%) 8.378.178.638.4311.77147.412.4111.076.95
Net Profit Margin (%) 4.854.114.924.076.027.594.166.887.222.87
Debt to Equity 0.420.830.610.560.310.140.10.070.010.2
Working Capital Days 9591848376146133112109141
Cash Conversion Cycle 52514540357476635674
Entity Percentage Holding
Promoters 58.02%
Institutions 0.52%
Non-Institutions 41.18%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Apcotex Inds's performance infers:

Apcotex Inds earnings have declined by -7.8%, whereas share price has appreciated 5.2% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Apcotex Inds share prices over the last 10 years. Here is what we found out:

Apcotex Inds share price has appreciated 25.4% annually over the past ten years.

Apcotex Industries was established in the year 1980 as a division of Asian Paints (India). Apcotex spun-off as a separate company in 1991 and is now part of the 'APCO' group of companies headed by Atul Choksey, Chairman of Apcotex Industries and former Managing Director of Asian Paints. Apcotex Industries is one of the leading producers of VP latex, SB and carboxylated sb latexes , acrylic latexes , nitrile latex , SBR Latex , Carboxylated SBR , High Styrene Resin and Synthetic Rubber in

Apcotex Industries was established in the year 1980 as a division of Asian Paints (India). Apcotex spun-off as a separate company in 1991 and is now part of the 'APCO' group of companies headed by Atul Choksey, Chairman of Apcotex Industries and former Managing Director of Asian Paints. Apcotex Industries is one of the leading producers of VP latex, SB and carboxylated sb latexes , acrylic latexes , nitrile latex , SBR Latex , Carboxylated SBR , High Styrene Resin and Synthetic Rubber in India. It has one of the broadest ranges of products based on Styrene Butadiene chemistry.

Apcotex is an ISO 9001: 2000 certified company. Its segments include Paper & paper Products, Tyre Cord  dipping, carpet, Paints, Oil  resistant Gasket, Construction, Textiles, Footwear & Micro sheet, Conveyer belts, hoses & automotive components.

Its manufacturing plant is located at Taloja, 50 kms outside of Mumbai. The manufacturing facilities incorporate state-of-the-art emulsion polymerization technology as well as adequate monomer and finished goods storage facilities and efficient utility support. Additionally, sophisticated DCS control systems ensure fine control over operating parameters.

Products of the Company:-With basic engineering and process know-how from Chemische Werke Huls (CWH) Germany, Apcotex pioneered the production of Vinyl Pyridine Latex, an important raw material for the tyre industry, in India. The Company has following products such as:-

  • Carboxylated Styrene Butadiene Latices
  • Nitrile Latices
  • Styrene Butadiene Rubbers
  • Acrylic latexes,etc.

Awards/ Achievements

2011 - Apcotex Industries Ltd. - Taloja achieved a 'EXCELLENT' grade in Telos Safety Rating System which is an improvement over that achieved in the year May 2010

2012 -Apcotex was awarded the Total Productive Maintenance (TPM) Excellence Award Category A in March'2012 by the Japan Institute of Plant Maintenance (JIPM).

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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