Apcotex Industries Share Price: Q4 Results impact! Surged over 31% in 4 days, hits new high

Touching its new 52-week high, a synthetic rubber manufacturer company — Apcotex Industries surged over nine per cent to hit a new high of Rs 317 on the BSE in intraday today. In the last four days, the shares of the company spurted over 31 percent amid strong quarter four earnings.

Apcotex achieved its highest-ever quarterly profit, revenues, and EBITDA: PTI

Touching its new 52-week high, a synthetic rubber manufacturer company — Apcotex Industries surged over nine per cent to hit a new high of Rs 317 on the BSE in intraday today. In the last four days, the shares of the company spurted over 31 percent amid strong quarter-four earnings.

Besides, Apcotex shares have zoomed over 80 per cent in the last month as compared to a one percent decline on BSE. On April 12, the stock was trading at 174 per share level as compared to Rs Rs 316.70 per share intraday during today’s trade.

The stock of the company zoomed after the firm reported a strong set of numbers for the quarter ended March 2021 (Q4FY21). It reported a seven-fold jumped in net profit at Rs 22.6 crore on the back of strong operational performance as compared to Rs 3.1 crore in Q4 FY20

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During this quarter the company achieved its highest-ever quarterly profit, revenues, and EBITDA, and after-tax numbers, with exports also logging the best-ever numbers. There was strong demand across most industries.

For Q4FY21, the operational revenue of Apcotex grew 61.7 per cent year-on-year (YoY) to Rs 186.90 crore from Rs 115.60 crore in the year-ago quarter.

The company said the customer and product mix has been optimised in the quarter, with better procurement of raw materials and implementation of cost-saving projects over the last few months and the year assisted in bolstering the margins.

The company has scaled up of production/sales of XNB latex for Gloves from existing plants with both plants running at near full capacity, it said.

With a market cap of around Rs 1600 crore, Apcotex Industries is a leading producer of synthetic rubber (nitrile rubber, high styrene rubber, nitrile polyblends and nitrile powder) and synthetic latex (XSB latex, VP latex, styrene acrylics, and nitrile latex) in India.

The company has one of the broadest ranges of emulsion polymers available in the market today. The various grades of synthetic rubber find application in products such as automotive components, hoses, gaskets, rice de-husking rollers, printing and industrial rollers, friction materials among others.

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