NSEI:APCOTEXIND

Stock Analysis Report

Executive Summary

Apcotex Industries Limited manufactures and markets a range of synthetic emulsion polymers in India and internationally.

Snowflake

Fundamentals

Flawless balance sheet average dividend payer.

Share Price & News

How has Apcotex Industries's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

5.1%

APCOTEXIND

2.0%

IN Chemicals

0.5%

IN Market


1 Year Return

-14.7%

APCOTEXIND

14.6%

IN Chemicals

0.9%

IN Market

Return vs Industry: APCOTEXIND underperformed the Indian Chemicals industry which returned 14.6% over the past year.

Return vs Market: APCOTEXIND underperformed the Indian Market which returned 0.9% over the past year.


Share holder returns

APCOTEXINDIndustryMarket
7 Day5.1%2.0%0.5%
30 Day-7.4%5.3%1.0%
90 Day-10.0%8.4%-3.2%
1 Year-13.5%-14.7%15.9%14.6%2.8%0.9%
3 Year34.0%29.1%35.0%30.8%20.3%14.3%
5 Year204.5%186.3%129.6%116.6%43.1%29.8%

Price Volatility Vs. Market

How volatile is Apcotex Industries's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Apcotex Industries undervalued based on future cash flows and its price relative to the stock market?

20.77x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Undervalued: APCOTEXIND (₹186.75) is trading above our estimate of fair value (₹30.96)

Significantly Undervalued: APCOTEXIND is trading above our estimate of fair value.


Price Based on Earnings

PE vs Industry: APCOTEXIND is poor value based on its PE Ratio (20.8x) compared to the Chemicals industry average (10.3x).

PE vs Market: APCOTEXIND is poor value based on its PE Ratio (20.8x) compared to the Indian market (13.1x).


Price Based on Expected Growth

Low PEG Ratio: APCOTEXIND is poor value based on its PEG Ratio (1.2x)


Price Based on Value of Assets

PB vs Industry: APCOTEXIND is overvalued based on its PB Ratio (3.5x) compared to the IN Chemicals industry average (1.1x).


Next Steps

Future Growth

How is Apcotex Industries expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

17.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: APCOTEXIND's forecast earnings growth (17% per year) is above the savings rate (7.6%).

Earnings vs Market: APCOTEXIND's earnings (17% per year) are forecast to grow slower than the Indian market (18.3% per year).

High Growth Earnings: APCOTEXIND's earnings are forecast to grow, but not significantly.

Revenue vs Market: APCOTEXIND's revenue (10.5% per year) is forecast to grow slower than the Indian market (11.4% per year).

High Growth Revenue: APCOTEXIND's revenue (10.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Estimates


Future Return on Equity

High Future ROE: Insufficient data to determine if APCOTEXIND's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Apcotex Industries performed over the past 5 years?

16.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: APCOTEXIND's earnings have grown by 16.1% per year over the past 5 years.

Accelerating Growth: APCOTEXIND's earnings growth over the past year (4.6%) is below its 5-year average (16.1% per year).

Earnings vs Industry: APCOTEXIND earnings growth over the past year (4.6%) underperformed the Chemicals industry 9.9%.


Return on Equity

High ROE: APCOTEXIND's Return on Equity (16.8%) is considered low.


Return on Assets

ROA vs Industry: APCOTEXIND has a higher Return on Assets than the Chemicals industry average last year.


Return on Capital Employed

ROCE Improving: APCOTEXIND has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Apcotex Industries's financial position?


Financial Position Analysis

Short Term Liabilities: APCOTEXIND's short term assets (₹2.1B) exceeds its short term liabilities (₹906.9M)

Long Term Liabilities: APCOTEXIND's short term assets (2.1B) exceeds its long term liabilities (85.8M)


Debt to Equity History and Analysis

Debt Level: APCOTEXIND's debt to equity ratio (1.4%) is considered satisfactory

Reducing Debt: APCOTEXIND's debt to equity ratio has reduced from 56.1% to 1.4% over the past 5 years.

Debt Coverage: APCOTEXIND's debt is well covered by operating cash flow (974.4%).

Interest Coverage: APCOTEXIND earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: APCOTEXIND has a high level of physical assets or inventory.

Debt Coverage by Assets: APCOTEXIND's debt is covered by short term assets (assets are 53.847610x debt).


Next Steps

  • Explore more healthy companies in the Materials industry.

Dividend

What is Apcotex Industries's current dividend yield, its reliability and sustainability?

1.60%

Expected Dividend Yield


Dividend Yield vs Market

company1.6%marketbottom25%0.6%markettop25%2.5%industryaverage1.5%forecastin3Years1.6%

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

Notable Dividend: APCOTEXIND's dividend (1.6%) is higher than the bottom 25% of dividend payers in the Indian market (0.61%).

High Dividend: APCOTEXIND's dividend (1.6%) is low compared to the top 25% of dividend payers in the Indian market (2.46%).

Stable Dividend: APCOTEXIND's dividends per share have been stable in the past 10 years.

Growing Dividend: APCOTEXIND's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (33.3%), APCOTEXIND's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Apcotex Industries's salary, the management and board of directors tenure and is there insider trading?

0.3yrs

Average management tenure


CEO

Abhiraj Choksey (42yo)

9.4yrs

Tenure

₹11,252,000

Compensation

Mr. Abhiraj Atul Choksey has been the Managing Director of Apcotex Industries Ltd since May 1, 2010 and serves as its Executive Director. Mr. Choksey serves as an Executive Director of Apcotex Industries L ...


CEO Compensation Analysis

Compensation vs. Market: Abhiraj's total compensation ($USD158.63K) is about average for companies of similar size in the Indian market ($USD25.38K).

Compensation vs Earnings: Abhiraj's compensation has been consistent with company performance over the past year.


Management Age and Tenure

0.3yrs

Average Tenure

Experienced Management: APCOTEXIND's management team is not considered experienced ( 0.3 years average tenure), which suggests a new team.


Board Age and Tenure

6.8yrs

Average Tenure

61yo

Average Age

Experienced Board: APCOTEXIND's board of directors are considered experienced (6.8 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Abhiraj Choksey (42yo)

    MD & Executive Director

    • Tenure: 9.4yrs
    • Compensation: ₹11.25m
  • Anand Kumashi

    Compliance Officer & Company Secretary

    • Tenure: 0yrs
  • Yashodhan Gadgil (61yo)

    VP of Operation & Executive Director

    • Tenure: 3.7yrs
    • Compensation: ₹4.35m
  • Suraj Badale

    Chief Financial Officer

    • Tenure: 0.5yrs
  • Ravishankar Sharma

    Chief Operating Officer

    • Tenure: 0.2yrs

Board Members

  • Atul Choksey (68yo)

    Non-Executive Chairman

    • Tenure: 0yrs
    • Compensation: ₹4.91m
  • Kamlesh Vikamsey (59yo)

    Independent Non-Executive Director

    • Tenure: 6.8yrs
    • Compensation: ₹565.00k
  • Shailesh Vaidya (62yo)

    Independent Non-Executive Director

    • Tenure: 7.8yrs
    • Compensation: ₹440.00k
  • Amit Choksey (65yo)

    Non-Executive Director

    • Tenure: 21.1yrs
    • Compensation: ₹70.00k
  • Swaminathan Sivaram (73yo)

    Independent Non-Executive Director

    • Tenure: 23.1yrs
    • Compensation: ₹470.00k
  • Abhiraj Choksey (42yo)

    MD & Executive Director

    • Tenure: 9.4yrs
    • Compensation: ₹11.25m
  • Priyamvada Bhumkar (57yo)

    Independent Non Executive Director

    • Tenure: 5yrs
    • Compensation: ₹490.00k
  • Yashodhan Gadgil (61yo)

    VP of Operation & Executive Director

    • Tenure: 3.7yrs
    • Compensation: ₹4.35m
  • Udayan Choksi (43yo)

    Additional Independent Director

    • Tenure: 1.3yrs
    • Compensation: ₹350.00k

Company Information

Apcotex Industries Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Apcotex Industries Limited
  • Ticker: APCOTEXIND
  • Exchange: NSEI
  • Founded: 1980
  • Industry: Commodity Chemicals
  • Sector: Materials
  • Market Cap: ₹9.654b
  • Shares outstanding: 51.84m
  • Website: https://www.apcotex.com

Number of Employees


Location

  • Apcotex Industries Limited
  • N. K. Mehta International House
  • 178, Backbay Reclamation
  • Mumbai
  • Maharashtra
  • 400020
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
523694BSE (Mumbai Stock Exchange)YesEquity SharesININRDec 2001
APCOTEXINDNSEI (National Stock Exchange of India)YesEquity SharesININRDec 2001

Biography

Apcotex Industries Limited manufactures and markets a range of synthetic emulsion polymers in India and internationally. The company offers synthetic latexes, such as vinyl pyridine latex, carboxylated sty ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 12:42
End of Day Share Price2019/10/14 00:00
Earnings2019/06/30
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

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