Apcotex Industries Ltd. share price target

ICICI Securities Ltd | Retail Equity Research Apcotex Industries (AIL) reported strong Q2FY18 results. Revenues came in at | 129 crore for Q2FY18, up 39.5% YoY. Higher revenues were on account of good growth witnessed across all industries (auto, industrials, consumer, construction, paper, etc) in domestic markets. Exports also witnessed strong traction due to the sales efforts of the management over the last few quarters EBITDA came in at | 15.1 crore, up 227% YoY. This was due to a 200...

Apcotex reported revenues of INR 1289.9 mn (+40% YoY) broadly in line with our estimates of INR 1224 mn. The revenue growth is on account of restocking of inventory post GST implementation along with an increase in the revenue from NBR in domestic market post low imports from EU and SEA during the qtr. During the quarter, OPM expanded by 668bps YoY to ~11.7% primarily on account of low cost inventory (-152bps YoY). Further...

Apcotex Industries (AIL) reported subdued Q1FY17 results due to shutdown of high styrene rubber (HSR) plant at Taloja. The plant is under structural repair & renovation work. As per the management, the same is likely to be completed in the next two months. HSR production was temporarily shifted to its wholly-owned subsidiary (Apcotex Solutions India Pvt Ltd) plant at Valia, Gujarat .ICICI Securities Limited maintain the valuation multiple at 18x FY18E EPS of | 18.4, to arrive at a target price of | 330. They have a HOLD recommendation on the stock.

ICICI Securities Ltd | Retail Equity Research Apcotex Industries reported its Q4FY16 results, which were marginally subdued on a standalone basis. Consolidated numbers are not...

In February 2016, Apcotex acquired 100% stake in Omnova Solutions for Rs 360mn in an all-cash deal, funded through internal accruals with no major impact on Apcotex's capital structure. The acquisition helps Apcotex strengthen its position in India's emulsion...