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Results
28-Apr-22
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Analysis
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Apcotex Industries
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Healthy margins support earnings growth
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Apcotex Industries standalone net sales increased 48.44% to Rs 277.46 crore in Q4FY22 compared to Q4FY21. Operating profit margin has jumped from 16.07% to 16.30%, leading to 50.62% rise in operating profit to Rs 45.23 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 61.98% to 61.00%. Employee cost decreased from 5.87% to 5.24%. Other expenses rose from 15.91% to 17.20%.
Other income fell 23.53% to Rs 1.56 crore. PBIDT rose 45.90% to Rs 46.79 crore. Provision for interest fell 1.27% to Rs 0.78 crore. PBDT rose 47.09% to Rs 46.01 crore. Provision for depreciation rose 9.54% to Rs 3.56 crore.
Profit before tax grew 51.44% to Rs 42.45 crore. Provision for tax was expense of Rs 11.55 crore, compared to Rs 5.43 crore. Effective tax rate was 27.21% compared to 19.37%.
Profit after tax rose 36.73% to Rs 30.90 crore.
Promoters' stake was 58.15% as of 31 March 2022 compared to 58.17% as of 31 March 2021.
Full year results analysis Net sales of Apcotex Industries have increased 76.99% to Rs 956.89 crore. Operating profit margin has jumped from 12.92% to 14.61%, leading to 100.10% rise in operating profit to Rs 139.81 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 62.22% to 65.48%. Employee cost decreased from 8.09% to 5.27%. Other expenses fell from 16.58% to 14.77%.
Other income up 52.02% to Rs 7.89 crore. PBIDT rose 96.78% to Rs 147.7 crore. Provision for interest fell 14.70% to Rs 3.25 crore. Loan funds rose to Rs 50.26 crore as of 31 March 2022 from Rs 14.59 crore as of 31 March 2021. Inventories rose to Rs 87.12 crore as of 31 March 2022 from Rs 55.83 crore as of 31 March 2021. Sundry debtors were higher at Rs 161.76 crore as of 31 March 2022 compared to Rs 104.85 crore as of 31 March 2021. Cash and bank balance declined from Rs 15.02 crore as of 31 March 2021 to Rs 8.89 crore as of 31 March 2022. Investments rose to Rs 97.52 crore as of 31 March 2022 from Rs 82.38 crore as of 31 March 2021.
PBDT rose 102.74% to Rs 144.45 crore. Provision for depreciation down 2.89% to Rs 14.09 crore. Fixed assets increased to Rs 194.58 crore as of 31 March 2022 from Rs 155.66 crore as of 31 March 2021. Intangible assets declined from Rs 0.66 crore to Rs 0.58 crore.
Profit before tax grew 129.75% to Rs 130.36 crore. Provision for tax was expense of Rs 31.55 crore, compared to Rs 12.58 crore. Effective tax rate was 24.20% compared to 22.17%.
Profit after tax rose 123.75% to Rs 98.81 crore.
Equity capital stood at Rs 10.37 crore as of 31 March 2022 to Rs 10.37 crore as of 31 March 2021. Per share face Value remained same at Rs 2.00.
Promoters stake was 58.15% as of 31 March 2022 compared to 58.17% as of 31 March 2021.
Cash flow from operating activities decreased to Rs 47.54 crore for year ended March 2022 from Rs 75.22 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 67.95 crore, compared to Rs 23.75 crore during the year ended March 2021.
The Board of Directors have recommended an final dividend @ Rs 3 per share (on fully paid share of Rs 2/- each) for financial year 2021-22.
The stock trades at Rs 531
| Particulars |
2112 (03) |
2012 (03) |
Var.(%) |
2103 (12) |
2003 (12) |
Var.(%) |
| Net Sales |
277.46 |
186.92 |
48 |
956.89 |
540.64 |
77 |
| OPM (%) |
16.3 |
16.1 |
|
14.6 |
12.9 |
|
| OP |
45.23 |
30.03 |
51 |
139.81 |
69.87 |
100 |
| Other Inc. |
1.56 |
2.04 |
-24 |
7.89 |
5.19 |
52 |
| PBIDT |
46.79 |
32.07 |
46 |
147.7 |
75.06 |
97 |
| Interest |
0.78 |
0.79 |
-1 |
3.25 |
3.81 |
-15 |
| PBDT |
46.01 |
31.28 |
47 |
144.45 |
71.25 |
103 |
| Depreciation |
3.56 |
3.25 |
10 |
14.09 |
14.51 |
-3 |
| PBT |
42.45 |
28.03 |
51 |
130.36 |
56.74 |
130 |
| Taxation |
11.55 |
5.43 |
113 |
31.55 |
12.58 |
151 |
| PAT |
30.9 |
22.6 |
37 |
98.81 |
44.16 |
124 |
| EPS (Rs)* |
# |
# |
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19.1 |
8.5 |
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Notes
* EPS is on current equity of Rs 10.37 crore, Face value of Rs 2, Excluding extraordinary items.
# EPS is not annualised|
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database |
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Previous News |
Apcotex Industries standalone net profit declines 50.29% in the September 2023 quarter
(
Results
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Announcements
26-Oct-23
15:14
)
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Apcotex Industries
(
Results
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Analysis
29-Jul-21
07:36
)
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Apcotex Industries standalone net profit declines 63.89% in the June 2023 quarter
(
Results
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Announcements
26-Jul-23
15:44
)
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Apcotex Industries Limited: Long-term rating upgraded; Short-term rating reaffirmed; rated amount enhanced
(
Press Releases
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23-Mar-22
11:19
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Apcotex Industries
(
Analyst Meet / AGM
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Conference Call
29-Oct-20
20:21
)
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Apcotex Industries reports standalone net loss of Rs 1.42 crore in the December 2019 quarter
(
Results
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Announcements
12-Feb-20
15:59
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Board of Apcotex Industries recommends interim dividend
(
Corporate News
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29-Jan-21
10:33
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Apcotex Industries standalone net profit rises 0.98% in the June 2019 quarter
(
Results
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Announcements
25-Jul-19
17:23
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Apcotex Industries
(
Analyst Meet / AGM
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Conference Call
21-Oct-22
22:35
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Apcotex Industries
(
Results
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Analysis
30-Jan-19
17:32
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Apcotex Industries
(
Results
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Analysis
21-Oct-22
08:15
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