 |
Analyst Meet / AGM
29-Oct-20
|
|
|
|
|
|
|
|
Conference Call
|
|
|
|
Apcotex Industries
|
|
Volume growth in Q2FY21 was around 18%
|
|
|
|
|
|
Apcotex Industries held a conference call to discuss the results for the quarter ended Sep'20 and way forward.Mr. AbhirajChoksey- Managing Director and Mr. Anand V Kumashi- Company Secretaryof the company addressed the call.
Highlights of the Concall
- All business operations went back to normal in this quarter which were in Q1 affected due to COVID-19 and subsequent lockdown
- Volume growth in Q2FY21 was around 18% compared to Q2FY21 while in value terms it was much lower as raw material prices were subdued in last quarter compared to Q2 of last year
- Exports formed 16-17% of total revenues in H1FY21
- The company expects volume growth to continue in Q3 as wel
- Raw material prices are increasing in last 2 months. This will also lead to value growth as well.
- Margin expansion was due to cost saving led by investments that the company had made has started accruing and the company expects more of it going forward, lower raw material prices, pent up demand in the market
- This quarter Apcotex has achieved highest ever quarterly sales volumes, in domestic as well as in the Exports side. The company has managed the cash flow well during the pandemic/lockdown period without enhancing working capital limits.
- The company has made investments to make assets more flexible to make multiple products which helped in ramping up production of XNBR Latex for Gloves where demand is strong.
- Apcotex had completed all Phase 1 projects- total 3 years capex plan of Rs 100 crore (FY18, FY19 and FY20). The benefits of cost reduction and enhanced capacity have started accruing.
- The company has planned new capex of approximately Rs 130-140 crore starting from October 1, 2020 till December 31, 2021 (15 months period), which will be used for XNBR Latex for Gloves in Valia and other de-bottlenecking, efficiency and EHS projects across both plants.
- The company intends to spend about Rs 100 crore for XNBR Latex for Gloves for about 40000 tonne and expects revenues of about 300-325 crore to start with. The company can almost double the capacity if needed at a very marginal cost.
- The company expects margins to be better going ahead.
- There is challenge in the NBR business due to dumping. The company has filed sunset review against South Korea which accounts for 50% of the NBR imports into India and fresh antidumping petition against Russia, China, Japan and EU. It would take some time to get the outcome of the petition. NBR is about 30-35% of total sales.
|
|
|
|
Previous News |
Apcotex Industries fixes record date for final dividend
(
Market Beat
-
Reports
19-May-23
19:50
)
|
|
|
Apcotex Industries reports standalone net loss of Rs 1.42 crore in the December 2019 quarter
(
Results
-
Announcements
12-Feb-20
15:59
)
|
|
|
Apcotex Industries to hold board meeting
(
Corporate News
-
13-Jan-23
10:29
)
|
|
|
Apcotex Industries consolidated net profit rises 12.30% in the June 2016 quarter
(
Results
-
Announcements
11-Aug-16
11:44
)
|
|
|
Apcotex Industries
(
Results
-
Analysis
30-Jan-19
17:32
)
|
|
|
Board of Apcotex Industries appoints CFO
(
Corporate News
-
10-Jul-21
10:38
)
|
|
|
Apcotex Industries to hold AGM
(
Corporate News
-
13-May-19
10:18
)
|
|
|
Apcotex Industries to hold AGM
(
Corporate News
-
22-May-23
09:51
)
|
|
|
Apcotex Industries
(
Analyst Meet / AGM
-
Conference Call
30-Jan-19
17:31
)
|
|
|
Apcotex Industries
(
Results
-
Analysis
25-Oct-19
10:12
)
|
|
|
Apcotex Industries reports standalone net loss of Rs 6.67 crore in the June 2020 quarter
(
Results
-
Announcements
30-Jul-20
16:03
)
|
|
|
|
|
|
Other Stories |
|
|
|
|
|
|
|
|
|
|
|
|
|