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Apis India Ltd (506166)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 506166 NSE: Consumer Food | Small Cap | Apis India Share Price
₹52.37 0.53 (1.02%)
As on 23-Sep'26 16:59
Apis India Ltd (506166)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 506166 NSE: Consumer Food | Small Cap | Apis India Share Price
₹52.37 0.53 (1.02%)
As on 23-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹721 Cr.
Current Price
₹52.4
52-Week Low / High
₹26 / 110
TTM EPS
₹1.8
TTM Sales
₹391 Cr.
Book Value per Share
₹14.4
P/E Ratio
28.49
Higher than its 5-year historical median
Industry PE
52.1
Price to Book (P/B)
3.63
Higher than its 5-year historical median
Price to Sales (P/S)
1.85
Higher than its 5-year historical median
EV/EBITDA
18.82
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
13.10%
Outperforms industry median
Return on Capital Employed (ROCE)
15.12%
Outperforms industry median
Return on Assets (ROA)
7.64%
Operating Profit Margin
9.6%
Net Profit Margin
6%
Gross Profit Margin
9.3%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
10.84%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
0.93%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-2.77%
Asset Quality
Promoter Holding
74.72%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹61 Cr.
Equity
₹137.8 Cr.
Face Value
₹10
All Time Low / High
₹0.08 / 110.42
Check Before You Invest
Quality
Somewhat GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Weak
Is Apis India Ltd a good quality company?
Apis India Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Apis India Ltd performance compare with that of its Peers?
Revenue growth of Apis India Ltd vs industry peers?
Apis India Ltd revenue CAGR is 10.78%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Apis India Ltd?
Promoters hold 74.72% of the Apis India Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Apis India Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 15.9% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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.
Apis India Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 22.4% | 17.7% | 15.8% | 12.3% | 6.4% | 9.2% | 9.6% | 11.5% | 19% | 17.3% | - |
| Value Creation Index ⓘ | 0.6 | 0.3 | 0.1 | -0.1 | -0.5 | -0.3 | -0.3 | -0.2 | 0.4 | 0.2 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 153 | 163 | 196 | 225 | 210 | 273 | 295 | 332 | 316 | 350 | 391 |
| Sales YoY Gr. | - | 6.1% | 20.2% | 14.9% | -6.6% | 30.2% | 8% | 12.5% | -4.8% | 10.8% | - |
| Adj EPS ⓘ | 0.9 | 0.8 | 0.8 | 0.8 | 0.2 | 0.4 | 0.5 | 0.6 | 1.7 | 1.5 | 1.8 |
| YoY Gr. | - | -18.3% | 7.9% | -8.5% | -74.7% | 105.3% | 18% | 26.1% | 184.5% | -7.9% | - |
| BVPS (₹) ⓘ | 3.1 | 3.8 | 4.7 | 5.4 | 5.5 | 5.9 | 6.7 | 7.3 | 8.9 | 10.4 | 12.2 |
| Adj Net Profit ⓘ | 12.8 | 10.4 | 11.3 | 10.3 | 2.6 | 5.4 | 6.4 | 8 | 22.7 | 21 | 24 |
| Cash Flow from Ops. ⓘ | 15.9 | 13.2 | 12 | 5 | 15.7 | -4.4 | 10.7 | 19.3 | -3.3 | 5.7 | - |
| Debt/CF from Ops. ⓘ | 1 | 4.5 | 4.6 | 13.1 | 4.1 | -18.8 | 9.5 | 3.8 | -17.9 | 11.3 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 9.6% | 10.8% | 5.9% | 10.8% | ||||
| Adj EPS ⓘ | 5.6% | 51.6% | 49% | -7.9% | ||||
| BVPSⓘ | 14.5% | 13.5% | 15.9% | 17.2% | ||||
| Share Price | 16.1% | 134.4% | 160% | 114.1% | ||||
Key Financial Parameters ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 32.2 | 20.5 | 18.8 | 14.8 | 3.5 | 6.8 | 7.3 | 8.3 | 20.3 | 15.8 | 15.6 |
| Op. Profit Mgn % ⓘ | 11.4 | 10.3 | 10 | 8.8 | 5.6 | 5.7 | 6.3 | 6.7 | 10.7 | 9.7 | 9.2 |
| Net Profit Mgn % ⓘ | 8.3 | 6.4 | 5.8 | 4.6 | 1.2 | 2 | 2.2 | 2.4 | 7.2 | 6 | 6.2 |
| Debt to Equity ⓘ | 0.4 | 1 | 0.8 | 0.9 | 0.9 | 1 | 1.1 | 0.7 | 0.5 | 0.4 | 0 |
| Working Cap Days ⓘ | 155 | 190 | 228 | 234 | 292 | 258 | 276 | 252 | 258 | 237 | 103 |
| Cash Conv. Cycle ⓘ | 107 | 120 | 130 | 125 | 158 | 148 | 171 | 149 | 147 | 149 | 63 |
Valuation of Apis India - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|
| Sales | 196 | 225 | 210 | 273 | 295 | 332 | 316 | 350 |
| Operating Expenses ⓘ + | 176 | 206 | 199 | 258 | 277 | 310 | 283 | 317 |
| Operating Profit ⓘ | 20 | 18 | 11 | 15 | 19 | 22 | 33 | 34 |
| Operating Profit Margin (%) | 10.0% | 8.2% | 5.4% | 5.6% | 6.3% | 6.7% | 10.6% | 9.6% |
| Other Income ⓘ + | 1 | 0 | 1 | 1 | 1 | 1 | 2 | 4 |
| Interest ⓘ | 2 | 3 | 5 | 5 | 7 | 8 | 6 | 5 |
| Depreciation ⓘ | 2 | 3 | 3 | 2 | 3 | 3 | 2 | 4 |
| Profit Before Tax ⓘ | 16 | 12 | 4 | 8 | 9 | 13 | 27 | 29 |
| Tax ⓘ | 5 | 3 | 2 | 3 | 4 | 6 | 6 | 8 |
| Profit After Tax | 11 | 9 | 2 | 5 | 6 | 7 | 22 | 21 |
| PAT Margin (%) | 5.8% | 4.1% | 1.1% | 1.8% | 1.9% | 2.2% | 6.8% | 6.0% |
| Adjusted EPS (₹) | 0.9 | 0.8 | 0.2 | 0.5 | 0.6 | 1.3 | 2.4 | 1.8 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | |||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 65 | 76 | 79 | 85 | 97 | 116 | 148 | 173 | |||
| Debt + | 55 | 66 | 65 | 80 | 99 | 72 | 57 | 61 | |||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
| Trade Payables | 30 | 36 | 39 | 40 | 42 | 45 | 37 | 33 | |||
| Others Liabilities ⓘ | 2 | 4 | 13 | 26 | 18 | 20 | 22 | 20 | |||
| Total Liabilities ⓘ | 151 | 181 | 196 | 230 | 256 | 253 | 264 | 287 | |||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 14 | 14 | 14 | 12 | 12 | 12 | 13 | 15 | |||
| CWIP ⓘ | 1 | 2 | 3 | 1 | 0 | 0 | 0 | 0 | |||
| Investments ⓘ | 1 | 2 | 10 | 12 | 14 | 25 | 36 | 40 | |||
| Inventories | 61 | 78 | 92 | 107 | 110 | 95 | 92 | 79 | |||
| Trade Receivables | 37 | 47 | 46 | 59 | 85 | 78 | 85 | 115 | |||
| Cash Equivalents | 9 | 1 | 2 | 1 | 2 | 1 | 1 | 0 | |||
| Others Assets ⓘ | 28 | 37 | 30 | 38 | 32 | 41 | 37 | 38 | |||
| Total Assets ⓘ | 151 | 181 | 196 | 230 | 256 | 253 | 264 | 287 | |||
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 12 | 5 | 16 | -5 | 12 | 18 | -3 | 6 |
| Cash Flow From Investing Activity ⓘ + | -8 | -7 | -9 | 2 | -4 | -9 | 8 | 0 |
| Cash Flow From Financing Activity ⓘ + | -1 | -7 | -5 | 2 | -6 | -10 | -6 | -6 |
| Net Cash Flow ⓘ | 4 | -8 | 1 | -1 | 2 | -1 | -1 | -0 |
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 17.32 | 13.12 | 3.03 | 6.04 | 6.17 | 6.91 | 16.43 | 13.1 | ||
| ROCE (%) | 15.4 | 12.14 | 6.29 | 8.6 | 8.98 | 10.57 | 16.74 | 15.12 | ||
| Asset Turnover Ratio | 1.29 | 1.35 | 1.11 | 1.28 | 1.21 | 1.31 | 1.22 | 1.27 | ||
| PAT to CFO Conversion(x) | 1.09 | 0.56 | 8 | -1 | 2 | 2.57 | -0.14 | 0.29 | ||
| Working Capital Days | ||||||||||
| Receivable Days | 69.80 | 68.60 | 80.90 | 69.90 | 89 | 89.90 | 94.30 | 104 | ||
| Inventory Days | 114.20 | 112.70 | 146.90 | 132.70 | 134.20 | 112.60 | 107.60 | 88.70 | ||
| Payable Days | 86.30 | 98.90 | 128 | 86.60 | 78.70 | 70 | 80.50 | 59 | ||
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Apis India Ltd FAQs
The current trading price of Apis India on 23-Sep-2026 16:59 is ₹52.37.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 22-Sep-2026 the market cap of Apis India stood at ₹721.4 Cr
The latest P/E ratio of Apis India as of 22-Sep-2026 is 29.74.
The latest P/B ratio of Apis India as of 22-Sep-2026 is 4.29.
The 52-week high of Apis India is ₹110.4 and the 52-week low is ₹25.68.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Apis India is ₹391 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Apis India Ltd is a average quality company.
The key valuation ratios of Apis India Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Apis India Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Apis India Ltd
Apis India was incorporated in the year 1924.The registered office of the company is at East Patel Nagar, New Delhi. Apis Group has a state of art processing plant in both the factories made as per European Standards with a capacity to process 100 tonnes of Honey per day with a homogenization capacity of 120MTs and filtration capability upto 5 microns at each unit. The Group annually deals in 10000 MTs of Honey with an annual growth rate of 40%.
Business area of the company:-
Apis has strong presence in domestic market as well as is a leading exporter of Honey from India to major international markets. The company deals in Organic Honey with more emphasis on light colored, high F/G, 'Good Taste' Organic Honey rather than Conventional Organic Honey, Its speciality being Organic Honey from the Himalayas.The company also specializes in Honey like Ginger, Lemon, Organic, Honey with Nuts, Honey with Comb.
Its products:-
- Glass Bottles
- Squezy bottles
- Upside down bottles
- Pet jars
- Bear Shape bottles
- Hexagon Type bottles
- Buckets
Awards & Certification:-
- The company has been awarded consecutively since the year 2003 by Ministry of Commerce, Government of India for our achievement in Exports of Honey.
- It is an ISO 22000 certified by Intertek which is a documented procedure that applies to food Safety Management System framed by International body.
- The company is certified by SGS, France for Organic operations.
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