Beating all odds, shares of Apcotex Industries are rising high!

Beating all odds, shares of Apcotex Industries are rising high!

by 5paisa Research Team Last Updated: Dec 12, 2022 - 11:28 am 29.7k Views
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This smallcap company continues to give gravity-defying returns amid the weak performance of the indices.

Year to date(YTD), the market capitalization of the company has almost doubled from Rs 1720 crore to Rs 3215 crore, on the back of a strong rally in its stock price from Rs 360 to Rs 629.

At today’s intraday high of Rs 629.45, Apcotex industries logged a fresh 52-week high over and above the last 52-week high of Rs 620 on April 29, 2022. The stock has surged 68.74% in last one month, overwriting new 52-week highs in each trading session.

As against Apcotex Industries’s stellar performance on the bourses gaining 68.74%, the benchmark index Sensex has lost 1.52% whereas BSE Smallcap has gained 2.82%.

Apcotex Industries is a part of the 'APCO' group of companies headed by Atul Choksey, Chairman of Apcotex Industries and former Managing Director of Asian Paints. It is one of the leading producers of Synthetic Rubber (NBR & HSR) and Synthetic Latex (Nitrile, VP latex, XSB & Acrylic latex) in India.

The company's customer base includes companies like ITC, JK Paper, Pidilite Industries, MRF, SRF, Century Enka, BILT, Paragon, Ajanta, Footwear, Relaxo, Jayshree Polymers, and others.

The company has consistently given robust quarterly performance for FY2021-22. For the recently concluded Q4 also, the company posted impressive numbers. The company recorded income from operations at Rs 277.46 crore in Q4FY22 which is an increase of 48.44% YoY, on QoQ basis the revenue was also up by 10.63%. The EBIDTA of the company increased 50.55% on YoY and by 33.41% on QoQ and stood at Rs 45.23 crore. The company reported PAT of Rs 30.90 crore as against Rs 22.60 crore a year ago, which is an increase of 36.74%. However, EBITDA margins shrunk by 27 bps and stood at 16.30 per cent and while PAT margins shrunk by 95bps at 11.14%. In its exchange filing on April 29, the company has informed the exchanges that its promoters have proposed to acquire 47,500 shares of Apcotex( 0.095%) on or after May 9, 2022, through open market operation on the exchanges.

At the closing bell, Apcotex Industries closed near the day’s high at Rs 628.80 with a gain of 6.38%.

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