New Risk • Jul 30
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.4% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.0% average weekly change). Reported Earnings • Jul 30
First quarter 2027 earnings released: EPS: ₹15.23 (vs ₹3.70 in 1Q 2026) First quarter 2027 results: EPS: ₹15.23 (up from ₹3.70 in 1Q 2026). Revenue: ₹5.26b (up 40% from 1Q 2026). Net income: ₹789.4m (up 312% from 1Q 2026). Profit margin: 15% (up from 5.1% in 1Q 2026). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹682, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 29x in the Chemicals industry in India. Total returns to shareholders of 42% over the past three years. Aankondiging • Jul 20
Apcotex Industries Limited to Report Q1, 2027 Results on Jul 29, 2026 Apcotex Industries Limited announced that they will report Q1, 2027 results on Jul 29, 2026 New Risk • Jun 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.5% average weekly change). Declared Dividend • Jun 04
Final dividend increased to ₹5.50 Dividend of ₹5.50 is 22% higher than last year. Ex-date: 12th June 2026 Payment date: 25th July 2026 Dividend yield will be 1.5%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (41% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 37% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Jun 01
Apcotex Industries Limited, Annual General Meeting, Jun 25, 2026 Apcotex Industries Limited, Annual General Meeting, Jun 25, 2026, at 11:00 Indian Standard Time. Reported Earnings • May 07
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: ₹19.56 (up from ₹10.43 in FY 2025). Revenue: ₹14.6b (up 4.8% from FY 2025). Net income: ₹1.01b (up 88% from FY 2025). Profit margin: 7.0% (up from 3.9% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 1% per year. Aankondiging • Apr 24
Apcotex Industries Limited to Report Q4, 2026 Results on May 06, 2026 Apcotex Industries Limited announced that they will report Q4, 2026 results on May 06, 2026 Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹363, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 25x in the Chemicals industry in India. Total loss to shareholders of 27% over the past three years. Declared Dividend • Jan 31
Dividend increased to ₹2.50 Dividend of ₹2.50 is 25% higher than last year. Ex-date: 4th February 2026 Payment date: 28th February 2026 Dividend yield will be 1.9%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 28% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 30
Third quarter 2026 earnings released: EPS: ₹4.28 (vs ₹2.23 in 3Q 2025) Third quarter 2026 results: EPS: ₹4.28 (up from ₹2.23 in 3Q 2025). Revenue: ₹3.31b (down 6.7% from 3Q 2025). Net income: ₹222.2m (up 92% from 3Q 2025). Profit margin: 6.7% (up from 3.3% in 3Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Aankondiging • Jan 16
Apcotex Industries Limited to Report Q3, 2026 Results on Jan 29, 2026 Apcotex Industries Limited announced that they will report Q3, 2026 results on Jan 29, 2026 Price Target Changed • Nov 22
Price target increased by 20% to ₹564 Up from ₹472, the current price target is provided by 1 analyst. New target price is 40% above last closing price of ₹402. Stock is up 3.5% over the past year. The company is forecast to post earnings per share of ₹14.70 for next year compared to ₹10.43 last year. Reported Earnings • Nov 06
Second quarter 2026 earnings released: EPS: ₹4.88 (vs ₹2.11 in 2Q 2025) Second quarter 2026 results: EPS: ₹4.88 (up from ₹2.11 in 2Q 2025). Revenue: ₹3.41b (down 2.8% from 2Q 2025). Net income: ₹253.0m (up 131% from 2Q 2025). Profit margin: 7.4% (up from 3.1% in 2Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Aankondiging • Oct 29
Apcotex Industries Limited to Report Q2, 2026 Results on Nov 05, 2025 Apcotex Industries Limited announced that they will report Q2, 2026 results on Nov 05, 2025 Reported Earnings • Jul 31
First quarter 2026 earnings released: EPS: ₹3.70 (vs ₹2.85 in 1Q 2025) First quarter 2026 results: EPS: ₹3.70 (up from ₹2.85 in 1Q 2025). Revenue: ₹3.78b (up 12% from 1Q 2025). Net income: ₹191.6m (up 29% from 1Q 2025). Profit margin: 5.1% (up from 4.4% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Aankondiging • Jul 22
Apcotex Industries Limited to Report Q1, 2026 Results on Jul 30, 2025 Apcotex Industries Limited announced that they will report Q1, 2026 results on Jul 30, 2025 Upcoming Dividend • Jun 06
Upcoming dividend of ₹4.50 per share Eligible shareholders must have bought the stock before 13 June 2025. Payment date: 26 July 2025. Payout ratio is a comfortable 62% and the cash payout ratio is 97%. Trailing yield: 1.7%. Within top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (0.7%). Aankondiging • Jun 02
Apcotex Industries Limited, Annual General Meeting, Jun 26, 2025 Apcotex Industries Limited, Annual General Meeting, Jun 26, 2025, at 11:00 Indian Standard Time. Reported Earnings • May 10
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: ₹10.43 (up from ₹10.39 in FY 2024). Revenue: ₹14.0b (up 25% from FY 2024). Net income: ₹540.6m (flat on FY 2024). Profit margin: 3.9% (down from 4.8% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) exceeded analyst estimates by 2.3%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Aankondiging • May 01
Apcotex Industries Limited to Report Q4, 2025 Results on May 07, 2025 Apcotex Industries Limited announced that they will report Q4, 2025 results on May 07, 2025 Aankondiging • Mar 26
Apcotex Industries Limited Announces Resignation of Sachin Karwa as Chief Financial Officer Apcotex Industries Limited announced Mr. Sachin Karwa, Chief Financial Officer of the Company has resigned from the post of Chief Financial Officer of the Company, to pursue opportunities outside the organization. Date of cessation: Will be communicated in due course. Price Target Changed • Jan 30
Price target decreased by 17% to ₹394 Down from ₹472, the current price target is an average from 2 analysts. New target price is 16% above last closing price of ₹338. Stock is down 30% over the past year. The company is forecast to post earnings per share of ₹10.20 for next year compared to ₹10.39 last year. Reported Earnings • Jan 29
Third quarter 2025 earnings released: EPS: ₹2.23 (vs ₹2.15 in 3Q 2024) Third quarter 2025 results: EPS: ₹2.23 (up from ₹2.15 in 3Q 2024). Revenue: ₹3.60b (up 40% from 3Q 2024). Net income: ₹115.6m (up 3.8% from 3Q 2024). Profit margin: 3.2% (down from 4.3% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Aankondiging • Jan 28
Apcotex Industries Limited Approves an Interim Dividend for the Financial Year 2024-2025 Apcotex Industries Limited announced that at its board meeting held on 28 January 2025, approved the following: declaration of interim dividend of INR 2 per equity share of INR 2 each for the Financial Year 2024-2025. Accordingly, the board has fixed 3 February 2025 as a record date for determining entitlement of members for the purpose of payment of interim dividend. Aankondiging • Jan 20
Apcotex Industries Limited to Report Q3, 2025 Results on Jan 28, 2025 Apcotex Industries Limited announced that they will report Q3, 2025 results on Jan 28, 2025 Reported Earnings • Oct 25
Second quarter 2025 earnings released: EPS: ₹2.11 (vs ₹2.95 in 2Q 2024) Second quarter 2025 results: EPS: ₹2.11 (down from ₹2.95 in 2Q 2024). Revenue: ₹3.54b (up 27% from 2Q 2024). Net income: ₹109.5m (down 28% from 2Q 2024). Profit margin: 3.1% (down from 5.5% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Aankondiging • Oct 24
Apcotex Industries Limited Approves Appointment of Drigesh Mittal as Company Secretary and Compliance Officer Apcotex Industries Limited announced that at its board meeting held on 24 October 2024, approved the following: Based on the recommendation of the Nomination and Remuneration Committee and pursuant to Section 203 of the Companies Act, 2013 and Regulation 6(1) of the SEBI LODR Regulations, 2015, Mr. Drigesh Mittal has been appointed as the company secretary and compliance officer of the company with effect from 25 October 2024. Mr. Drigesh Mittal is a seasoned professional with more than 15 years of experience in company secretary & legal functions. He holds degrees in Commerce and Law, along with being a Fellow Member of the Institute of Company Secretaries of India. He has worked with leading organizations such as KIFS Securities, Intas Pharmaceuticals, Alembic Limited and Luthra Group and has gained rich experience and expertise in legal compliance, corporate restructuring and strategic leadership. With a deep understanding of corporate law and regulatory frameworks, paired with his strategic insight, makes him exceptionally well-prepared to drive initiatives and contribute meaningfully to organizational success. Aankondiging • Oct 16
Apcotex Industries Limited Announces Resignation of Jeevan Mondkar as Company Secretary and Compliance Officer Apcotex Industries Limited announced resignation of Mr. Jeevan Mondkar as Company Secretary and Compliance Officer the Company due to personal reasons on 15 October, 2024. Date of cessation: Will be communicated in due course. Aankondiging • Sep 25
Apcotex Industries Limited to Report Q2, 2025 Results on Oct 24, 2024 Apcotex Industries Limited announced that they will report Q2, 2025 results at 12:15 PM, Indian Standard Time on Oct 24, 2024 Upcoming Dividend • Jul 12
Upcoming dividend of ₹3.50 per share Eligible shareholders must have bought the stock before 19 July 2024. Payment date: 28 August 2024. Payout ratio is a comfortable 53% but the company is paying out more than the cash it is generating. Trailing yield: 1.2%. Within top quartile of Indian dividend payers (1.1%). Higher than average of industry peers (0.7%). Reported Earnings • Jul 08
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: ₹10.39 (down from ₹20.82 in FY 2023). Revenue: ₹11.2b (up 4.1% from FY 2023). Net income: ₹538.8m (down 50% from FY 2023). Profit margin: 4.8% (down from 10.0% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 4.7%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Aankondiging • Jun 28
Apcotex Industries Limited to Report Q1, 2025 Results on Jul 26, 2024 Apcotex Industries Limited announced that they will report Q1, 2025 results on Jul 26, 2024 Aankondiging • Jun 25
Apcotex Industries Limited, Annual General Meeting, Jul 29, 2024 Apcotex Industries Limited, Annual General Meeting, Jul 29, 2024, at 11:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹462, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 32x in the Chemicals industry in India. Total returns to shareholders of 54% over the past three years. Price Target Changed • May 09
Price target decreased by 15% to ₹473 Down from ₹554, the current price target is an average from 2 analysts. New target price is 12% above last closing price of ₹424. Stock is down 14% over the past year. The company is forecast to post earnings per share of ₹19.90 for next year compared to ₹10.39 last year. Reported Earnings • May 07
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: ₹10.39 (down from ₹20.82 in FY 2023). Revenue: ₹11.3b (up 4.8% from FY 2023). Net income: ₹538.8m (down 50% from FY 2023). Profit margin: 4.8% (down from 10.0% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 4.7%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹463, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 28x in the Chemicals industry in India. Total returns to shareholders of 164% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹432 per share. Aankondiging • Mar 27
Apcotex Industries Limited to Report Fiscal Year 2024 Results on May 06, 2024 Apcotex Industries Limited announced that they will report fiscal year 2024 results on May 06, 2024 Upcoming Dividend • Jan 29
Upcoming dividend of ₹2.00 per share at 1.1% yield Eligible shareholders must have bought the stock before 05 February 2024. Payment date: 22 February 2024. Payout ratio is a comfortable 46% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (0.8%). Declared Dividend • Jan 25
Dividend of ₹2.00 announced Dividend of ₹2.00 is the same as last year. Ex-date: 5th February 2024 Payment date: 22nd February 2024 Dividend yield will be 1.1%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by earnings (46% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 115% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 24
Third quarter 2024 earnings released: EPS: ₹2.15 (vs ₹3.93 in 3Q 2023) Third quarter 2024 results: EPS: ₹2.15 (down from ₹3.93 in 3Q 2023). Revenue: ₹2.59b (up 11% from 3Q 2023). Net income: ₹111.3m (down 45% from 3Q 2023). Profit margin: 4.3% (down from 8.7% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Jan 23
Apcotex Industries Limited Declares Interim Dividend for the Financial Year 2023-2024 Apcotex Industries Limited declared Interim Dividend of INR 2/- per equity share of INR 2/- each for the financial year 2023-2024. Accordingly, the Board has fixed 5th February 2024 as a record date for determining entitlement of members for the purpose of payment of interim dividend. Buy Or Sell Opportunity • Jan 19
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 2.9% to ₹526. The fair value is estimated to be ₹430, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 32%. Revenue is forecast to grow by 54% in 2 years. Earnings are forecast to grow by 107% in the next 2 years. Aankondiging • Dec 26
Apcotex Industries Limited to Report Q3, 2024 Results on Jan 23, 2024 Apcotex Industries Limited announced that they will report Q3, 2024 results on Jan 23, 2024 Reported Earnings • Oct 28
Second quarter 2024 earnings released: EPS: ₹2.95 (vs ₹5.94 in 2Q 2023) Second quarter 2024 results: EPS: ₹2.95 (down from ₹5.94 in 2Q 2023). Revenue: ₹2.81b (flat on 2Q 2023). Net income: ₹153.1m (down 50% from 2Q 2023). Profit margin: 5.5% (down from 11% in 2Q 2023). Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Sep 26
Apcotex Industries Limited to Report Q2, 2024 Results on Oct 26, 2023 Apcotex Industries Limited announced that they will report Q2, 2024 results on Oct 26, 2023 Price Target Changed • Jul 28
Price target decreased by 15% to ₹475 Down from ₹558, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ₹479. Stock is down 16% over the past year. The company is forecast to post earnings per share of ₹20.00 for next year compared to ₹20.82 last year. Reported Earnings • Jul 27
First quarter 2024 earnings released: EPS: ₹2.34 (vs ₹6.47 in 1Q 2023) First quarter 2024 results: EPS: ₹2.34 (down from ₹6.47 in 1Q 2023). Revenue: ₹2.80b (down 8.7% from 1Q 2023). Net income: ₹121.2m (down 64% from 1Q 2023). Profit margin: 4.3% (down from 11% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has increased by 59% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Jun 29
Apcotex Industries Limited to Report Q1, 2024 Results on Jul 26, 2023 Apcotex Industries Limited announced that they will report Q1, 2024 results on Jul 26, 2023 Upcoming Dividend • Jun 05
Upcoming dividend of ₹3.50 per share at 1.1% yield Eligible shareholders must have bought the stock before 12 June 2023. Payment date: 19 July 2023. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Indian dividend payers (1.6%). Higher than average of industry peers (0.9%). Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. COO & Executive Director Ravishankar Sharma was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • May 27
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: ₹20.82 (up from ₹19.06 in FY 2022). Revenue: ₹10.9b (up 14% from FY 2022). Net income: ₹1.08b (up 9.2% from FY 2022). Profit margin: 9.9% (in line with FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.8%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 10.0% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 63% per year whereas the company’s share price has increased by 67% per year. Aankondiging • May 21
Apcotex Industries Limited, Annual General Meeting, Jun 19, 2023 Apcotex Industries Limited, Annual General Meeting, Jun 19, 2023, at 11:00 Indian Standard Time. Price Target Changed • May 02
Price target increased by 7.6% to ₹601 Up from ₹558, the current price target is an average from 2 analysts. New target price is 20% above last closing price of ₹502. Stock is down 19% over the past year. The company is forecast to post earnings per share of ₹20.45 for next year compared to ₹19.06 last year. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹499, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 23x in the Chemicals industry in India. Total returns to shareholders of 508% over the past three years. Upcoming Dividend • Jan 31
Upcoming dividend of ₹2.00 per share at 1.2% yield Eligible shareholders must have bought the stock before 07 February 2023. Payment date: 24 February 2023. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of Indian dividend payers (1.6%). Higher than average of industry peers (0.9%). Price Target Changed • Jan 30
Price target decreased by 11% to ₹558 Down from ₹625, the current price target is provided by 1 analyst. New target price is 33% above last closing price of ₹419. Stock is up 12% over the past year. The company is forecast to post earnings per share of ₹18.30 for next year compared to ₹19.06 last year. Reported Earnings • Jan 27
Third quarter 2023 earnings released: EPS: ₹3.93 (vs ₹4.59 in 3Q 2022) Third quarter 2023 results: EPS: ₹3.93 (down from ₹4.59 in 3Q 2022). Revenue: ₹2.34b (down 6.6% from 3Q 2022). Net income: ₹203.7m (down 14% from 3Q 2022). Profit margin: 8.7% (in line with 3Q 2022). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Aankondiging • Jan 26
Apcotex Industries Limited Approves Interim Dividend for the Financial Year 2022-2023 Apcotex Industries Limited informed that the Board of Directors of the Company at its meeting held on 25th January 2023, approved the declaration of Interim Dividend at the rate of INR 2.00/- per equity share of INR 2.00/- each for the financial year 2022-2023. Accordingly, the Board has fixed 7th February 2023 as the record date for determining entitlement of members for the purpose of payment of interim dividend. Aankondiging • Dec 29
Apcotex Industries Limited to Report Q3, 2023 Results on Jan 25, 2023 Apcotex Industries Limited announced that they will report Q3, 2023 results on Jan 25, 2023 Recent Insider Transactions • Dec 29
Insider recently bought ₹1.3m worth of stock On the 23rd of December, Rita Parekh bought around 3k shares on-market at roughly ₹446 per share. This transaction amounted to 1.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₹6.1m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Dec 18
Insider recently bought ₹247k worth of stock On the 15th of December, Hiloni Choksey bought around 525 shares on-market at roughly ₹471 per share. This transaction amounted to 28% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹512k. Insiders have collectively bought ₹4.7m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 17
Insider recently bought ₹248k worth of stock On the 11th of November, Janaki Parekh bought around 500 shares on-market at roughly ₹495 per share. This transaction amounted to 4.2% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₹512k. Insiders have collectively bought ₹5.0m more in shares than they have sold in the last 12 months. Price Target Changed • Nov 16
Price target increased to ₹690 Up from ₹625, the current price target is provided by 1 analyst. New target price is 39% above last closing price of ₹497. Stock is up 26% over the past year. The company is forecast to post earnings per share of ₹22.50 for next year compared to ₹19.06 last year. Recent Insider Transactions • Nov 09
Insider recently bought ₹105k worth of stock On the 4th of November, Hiloni Choksey bought around 200 shares on-market at roughly ₹525 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₹1.5m. Insiders have collectively bought ₹4.5m more in shares than they have sold in the last 12 months. Reported Earnings • Oct 23
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: ₹5.94 (up from ₹4.29 in 2Q 2022). Revenue: ₹2.83b (up 16% from 2Q 2022). Net income: ₹308.0m (up 38% from 2Q 2022). Profit margin: 11% (up from 9.1% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 17%. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Oct 02
Insider recently bought ₹512k worth of stock On the 29th of September, Hiloni Choksey bought around 900 shares on-market at roughly ₹569 per share. This transaction increased Hiloni Choksey's direct individual holding by 2x at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₹1.5m. Insiders have collectively bought ₹4.6m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Sep 18
Insider recently bought ₹252k worth of stock On the 15th of September, Hiloni Choksey bought around 430 shares on-market at roughly ₹586 per share. This trade did not impact their existing holding. In the last 3 months, there was an even bigger purchase from another insider worth ₹1.5m. Insiders have collectively bought ₹4.1m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Aug 12
Insider recently bought ₹1.5m worth of stock On the 8th of August, Rita Parekh bought around 3k shares on-market at roughly ₹543 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Jul 28
First quarter 2023 earnings released: EPS: ₹6.47 (vs ₹4.22 in 1Q 2022) First quarter 2023 results: EPS: ₹6.47 (up from ₹4.22 in 1Q 2022). Revenue: ₹3.06b (up 66% from 1Q 2022). Net income: ₹335.6m (up 54% from 1Q 2022). Profit margin: 11% (in line with 1Q 2022). Over the next year, revenue is forecast to grow 27%, compared to a 15% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 30
Upcoming dividend of ₹3.00 per share Eligible shareholders must have bought the stock before 06 June 2022. Payment date: 14 July 2022. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of Indian dividend payers (1.7%). Higher than average of industry peers (0.8%). Reported Earnings • Apr 29
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: ₹19.06 (up from ₹8.52 in FY 2021). Revenue: ₹9.65b (up 79% from FY 2021). Net income: ₹988.1m (up 124% from FY 2021). Profit margin: 10% (up from 8.2% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 23%, compared to a 20% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 43% per year and the company’s share price has also increased by 43% per year. Price Target Changed • Apr 27
Price target increased to ₹525 Up from ₹400, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ₹530. Stock is up 143% over the past year. The company is forecast to post earnings per share of ₹18.30 for next year compared to ₹8.52 last year. Upcoming Dividend • Feb 03
Upcoming dividend of ₹2.00 per share Eligible shareholders must have bought the stock before 10 February 2022. Payment date: 26 February 2022. Payout ratio is a comfortable 23% but the company is paying out more than the cash it is generating. Trailing yield: 1.1%. Lower than top quartile of Indian dividend payers (1.4%). Higher than average of industry peers (0.7%). Reported Earnings • Jan 28
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: ₹4.59 (up from ₹3.20 in 3Q 2021). Revenue: ₹2.53b (up 54% from 3Q 2021). Net income: ₹237.8m (up 43% from 3Q 2021). Profit margin: 9.4% (in line with 3Q 2021). Revenue exceeded analyst estimates by 6.3%. Earnings per share (EPS) also surpassed analyst estimates by 25%. Over the next year, revenue is forecast to grow 15%, compared to a 19% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 29% per year whereas the company’s share price has increased by 27% per year. Reported Earnings • Oct 30
Second quarter 2022 earnings released: EPS ₹4.29 (vs ₹2.24 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹2.45b (up 90% from 2Q 2021). Net income: ₹222.6m (up 91% from 2Q 2021). Profit margin: 9.1% (up from 9.0% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improved over the past week After last week's 26% share price gain to ₹387, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 32x in the Chemicals industry in India. Total returns to shareholders of 71% over the past three years. Reported Earnings • Jul 29
First quarter 2022 earnings released: EPS ₹4.22 (vs ₹1.29 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹1.88b (up 213% from 1Q 2021). Net income: ₹218.6m (up ₹285.4m from 1Q 2021). Profit margin: 12% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 25
Upcoming dividend of ₹2.00 per share Eligible shareholders must have bought the stock before 01 July 2021. Payment date: 08 August 2021. Trailing yield: 1.3%. Lower than top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.7%). Reported Earnings • Jun 13
Full year 2021 earnings released: EPS ₹8.52 (vs ₹3.21 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹5.41b (up 9.0% from FY 2020). Net income: ₹441.6m (up 166% from FY 2020). Profit margin: 8.2% (up from 3.4% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings.