External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

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Equity Bottom-Up

<ul><li>Steady Volume Growth: The company reported an 11% YoY increase in volumes during Q2FY26, while revenue declined by 4% YoY to Rs 337 Cr, primarily due to lower raw material costs that led to a corresponding reduction in finished goods realisation.</li><li>EBITDA rose sharply by 48% YoY to Rs 41 Cr, supported by volume growth, improved operating leverage, and better cost efficiencies.</li><li>Operating margins expanded to 12.1% (vs. 7.8% in Q2FY25 and 10.3% in Q1FY26). </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Steady Volume Growth: The company reported an 11% YoY increase in volumes during Q2FY26, while revenue declined by 4% YoY to Rs 337 Cr, primarily due to lower raw material costs that led to a corresponding reduction in finished goods realisation.EBITDA rose sharply by 48% YoY to Rs 41 Cr, supported by volume growth, improved operating leverage, and better cost efficiencies.Operating margins expanded to 12.1% (vs. 7.8% in Q2FY25 and 10.3% in Q1FY26). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Apcotex Industries Ltd - Volume-Led Growth Strategy Backed by New Capex Plans

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Sudarshan Bhandari

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<ul>
<li>
<a href="https://www.smartkarma.com/entities/apcotex-industries-ltd" target="_blank" data-smartkarma-citation="entities:13310:1" rel="noopener">Apcotex Industries (APCO IN)</a> reported a robust 12.5% YoY revenue growth in Q4 FY25, driven by strong volume and export growth.</li>
<li>Despite external challenges like crude price volatility and global overcapacity in latex, the company showcased strong operational performance.</li>
<li>The recovery in margins, driven by improved capacity utilization and higher exports, supports optimism for FY26 despite market uncertainties.</li>
</ul>



Apcotex Industries (APCO IN) reported a robust 12.5% YoY revenue growth in Q4 FY25, driven by strong volume and export growth.
Despite external challenges like crude price volatility and global overcapacity in latex, the company showcased strong operational performance.
The recovery in margins, driven by improved capacity utilization and higher exports, supports optimism for FY26 despite market uncertainties.


Apcotex Industries Q4 FY25 Update: Strong Volume Growth and Margin Recovery

<ul>
<li>
<a href="https://www.smartkarma.com/entities/apcotex-industries-ltd" target="_blank" data-smartkarma-citation="entities:13310:1" rel="noopener">Apcotex Industries (APCO IN)</a> operational revenue rose 38.2% YoY to INR 3,553 million in Q3 FY25, driven by strong volume gains and a 30% YoY increase in export volumes.</li>
<li>Robust volume and export growth, alongside management’s capacity and anti-dumping initiatives, position Apcotex for margin recovery and long-term revenue expansion.</li>
<li>The company expects margins to improve in Q4, driven by better capacity utilisation and an improving situation in the XNB (Nitrile Latex) business due to duties imposed by the US.</li>
</ul>



Apcotex Industries (APCO IN) operational revenue rose 38.2% YoY to INR 3,553 million in Q3 FY25, driven by strong volume gains and a 30% YoY increase in export volumes.
Robust volume and export growth, alongside management’s capacity and anti-dumping initiatives, position Apcotex for margin recovery and long-term revenue expansion.
The company expects margins to improve in Q4, driven by better capacity utilisation and an improving situation in the XNB (Nitrile Latex) business due to duties imposed by the US.


Apcotex Industries Ltd Q3FY25 Update: Capacity Utilisation and Industry Dynamics Driving Growth

<ul><li>Anticipate margin revival in the coming quarter: While the company reported strong volume lead growth (YoY), the profitability remained subdued owing to pricing pressures.</li><li>The management noted that the Nitrile Latex business is being operated at negligible margins, and EBITDA margins for the first nine months could have been higher by 2-2.5%, excluding the same.</li><li>The management mentioned that the prices are close to the bottom, and margins will likely improve in Q4.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Anticipate margin revival in the coming quarter: While the company reported strong volume lead growth (YoY), the profitability remained subdued owing to pricing pressures.The management noted that the Nitrile Latex business is being operated at negligible margins, and EBITDA margins for the first nine months could have been higher by 2-2.5%, excluding the same.The management mentioned that the prices are close to the bottom, and margins will likely improve in Q4.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Apcotex Industries Ltd - Margins Expected to Improve as Prices Bottom Out

<ul>
<li>
<a href="https://www.smartkarma.com/entities/apcotex-industries-ltd" target="_blank" data-smartkarma-citation="entities:13310:1" rel="noopener">Apcotex Industries (APCO IN) </a> promoted by Ex-Asian Paints MD Mr. Atul Choksey, is a leading manufacturer of synthetic rubber and latex in India. </li>
<li>Despite achieving record sales volume in H1 FY25, Apcotex experienced a decline in EBITDA margins due to RM pricing and Chinese competition.</li>
<li>
<a href="https://www.smartkarma.com/entities/apcotex-industries-ltd" target="_blank" data-smartkarma-citation="entities:13310:1" rel="noopener">Apcotex Industries (APCO IN)</a>  is at its worst possible margins and applied for anti-dumping duty for its product.</li>
</ul>



Apcotex Industries (APCO IN)  promoted by Ex-Asian Paints MD Mr. Atul Choksey, is a leading manufacturer of synthetic rubber and latex in India. 
Despite achieving record sales volume in H1 FY25, Apcotex experienced a decline in EBITDA margins due to RM pricing and Chinese competition.

Apcotex Industries (APCO IN)  is at its worst possible margins and applied for anti-dumping duty for its product.


The Beat Ideas: Apcotex Industries Ltd, Beaten Down Value Pick

India

Apcotex Industries Limited, manufactures synthetic rubber, lattices, and associated items.  The Company's products include styrene butadiene lattices, nitrile lattices, vinyl pyridine latex, and styrene butadiene rubber.

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Apcotex Industries (APCO IN)

Apcotex Industries Ltd - Volume-Led Growth Strategy Backed by New Capex Plans

The company reported an 11% YoY increase in volumes during Q2FY26, while revenue declined by 4% YoY to Rs 337 Cr, primarily due to lower raw...

Axis Direct

Apcotex Industries Q4 FY25 Update: Strong Volume Growth and Margin Recovery

Apcotex Industries reports strong revenue growth in Q4 FY25, driven by volume and export growth, despite external challenges. Improved margins and...

Sudarshan Bhandari

Apcotex Industries Ltd Q3FY25 Update: Capacity Utilisation and Industry Dynamics Driving Growth

Apcotex Industries (APCO IN) sees 38.2% YoY revenue growth in Q3 FY25, driven by volume gains and export increase. Expecting margin recovery in Q4...

Sudarshan Bhandari

Apcotex Industries Ltd - Margins Expected to Improve as Prices Bottom Out

Anticipate margin revival in the coming quarter: While the company reported strong volume lead growth (YoY), the profitability remained subdued...

Axis Direct

The Beat Ideas: Apcotex Industries Ltd, Beaten Down Value Pick

Apcotex Industries, a leading synthetic rubber manufacturer in India, faces challenges with declining EBITDA margins due to raw material pricing...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Apcotex Industries Ltd - Volume-Led Growth Strategy Backed by New Capex Plans

The company reported an 11% YoY increase in volumes during Q2FY26, while revenue declined by 4% YoY to Rs 337 Cr, primarily due to lower raw...

Axis Direct

Apcotex Industries Q4 FY25 Update: Strong Volume Growth and Margin Recovery

​Apcotex Industries reports strong revenue growth in Q4 FY25, driven by volume and export growth, despite external challenges. Improved margins and...

Sudarshan Bhandari

Apcotex Industries Ltd Q3FY25 Update: Capacity Utilisation and Industry Dynamics Driving Growth

​Apcotex Industries (APCO IN) sees 38.2% YoY revenue growth in Q3 FY25, driven by volume gains and export increase. Expecting margin recovery in Q4...

Sudarshan Bhandari

Apcotex Industries Ltd - Margins Expected to Improve as Prices Bottom Out

Anticipate margin revival in the coming quarter: While the company reported strong volume lead growth (YoY), the profitability remained subdued...

Axis Direct

The Beat Ideas: Apcotex Industries Ltd, Beaten Down Value Pick

​Apcotex Industries, a leading synthetic rubber manufacturer in India, faces challenges with declining EBITDA margins due to raw material pricing...

Sudarshan Bhandari

Apcotex Industries reports strong revenue growth in Q4 FY25, driven by volume and export growth, despite external challenges. Improved margins and...

Apcotex Industries (APCO IN) sees 38.2% YoY revenue growth in Q3 FY25, driven by volume gains and export increase. Expecting margin recovery in Q4...

Apcotex Industries, a leading synthetic rubber manufacturer in India, faces challenges with declining EBITDA margins due to raw material pricing...