This small cap stock of Asian Paint pedigree has given 4.7X returns in 2 years!

This small cap stock of Asian Paint pedigree has given 4.7X returns in 2 years!

by 5paisa Research Team Last Updated: Dec 10, 2022 - 06:05 pm 27.2k Views
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Atul Choksey led Apcotex Industries has logged multiple 52-week highs in FY 2023, giving gravity-defying returns. Market capitalization of the company has jumped 84% from Rs 1720 crore to Rs 3160 crore, YTD basis on the back of a strong rally in its stock price.

  • Rs 100,000 invested at the beginning of FY2023 would have become Rs 1,61,280, giving a price return of 61.28%.

  • Rs 100,000 invested a year ago would have become Rs 1,75,000 giving a price return of 75% and,

  • Rs 100,000 invested two years back would have become Rs 4,77,140 giving a price return of 4,77,140%.

On YTD, the benchmark index Sensex has lost 5.47%, while BSE Smallcap has lost a whopping 12.20% compared to Apcotex Industries' outstanding performance on the bourses, which has seen a surge of 61.28%.

The stock has been able to give mindboggling returns defying the prevailing market sentiment on the back of its quality management, market leadership and strong financials. The company has consistently given robust quarterly performance for FY2021-22.

In Q4FY22, the Company has reached historical highs across all financial parameters. 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 to 11.14%.

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.

At 12.50, the shares of Apcotex Industries were quoting at Rs 611.15, up 1.5% or Rs 8.95.

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