India · Delayed Price · Currency is INR Apcotex Industries Earnings Call Transcripts
Fiscal Year 2026
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Q4 FY 2026 saw strong revenue and profit growth, with record sales and export volumes for the year. Margins improved due to higher volumes and operational efficiency, though risks from geopolitical volatility and raw material prices persist.
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Q3 saw strong EBITDA and PAT growth despite lower revenue, driven by higher volumes and improved margins. Expansion projects are on track, with high capacity utilization and robust cash generation supporting future growth.
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Q2 saw strong EBITDA and PAT growth despite a revenue decline from lower prices, with H1 volumes and exports at record highs. Major capacity expansion is underway, targeting significant revenue potential, while the company remains net cash positive and vigilant about anti-dumping duty risks.
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Q1 FY26 saw 12% revenue and 22% EBITDA growth year-over-year, driven by record export volumes and improved margins. Nitrile latex margins remain under pressure due to global overcapacity, while expansion and de-bottlenecking projects are planned to support future growth.
Fiscal Year 2025
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Q4 FY25 saw double-digit revenue and EBITDA growth, with improved margins driven by record volumes and operational efficiencies. The latex segment led growth, while the company maintained a strong balance sheet and expects margin recovery as industry capacity utilization rises.
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Record quarterly revenue and export growth were achieved, though margins remain under pressure due to competitive and raw material factors. Margin recovery is expected as capacity utilization rises and freight rates ease, with anti-dumping actions and new board appointments supporting future growth.
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Revenue grew 26% year-over-year in Q2 FY25, driven by record volumes and exports, but net profit declined 28% due to margin pressures from high freight and raw material costs. Management is focused on cost-saving, specialty products, and renewable energy investments, with major CapEx on hold pending market recovery.
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Q1 FY25 saw 21% revenue and 25% EBITDA growth year-over-year, with strong volume gains led by paper, construction, and tire cord segments. Margins remain under pressure in gloves and NBR, but gradual improvement is expected as capacity utilization rises and industry cycles normalize.