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Apcotex Industries Q2 Results: Profit Tumbles 28%, Misses Estimates

Apcotex's revenue met estimates as it jumped 26% to Rs 351.1 crore in the September quarter.

Divya Prata

Apcotex Industries Ltd.'s net profit declined 28% year-on-year in the July–September quarter of the current financial year. (Photo source: pxhere.com)

Apcotex Industries Ltd.'s consolidated net profit declined 28% year-on-year in the July–September quarter of the current financial year, widely missing analysts' estimates.

The rubber products company posted a profit of Rs 10.95 crore in the second quarter in comparison to Rs 15.3 crore in the same period last fiscal, according to an exchange filing on Thursday. Analysts polled by Bloomberg had projected a consensus estimate of Rs 18 crore.

Apcotex's revenue met estimates as it jumped 26% to Rs 351.1 crore in the September quarter from Rs 279.2 crore in the corresponding quarter of the previous fiscal. Analysts polled by Bloomberg had projected a consensus estimate of Rs 357 crore.

The earnings before interest, taxes, depreciation and amortisation was down 13% to Rs 27.5 crore. Analysts polled by Bloomberg had projected a consensus estimate of Rs 36 crore.

The Ebitda margin contracted to 7.8% in the second quarter from 11.3% in the year-ago period. Analysts polled by Bloomberg had projected a consensus estimate of 10.10%.

Also Read: Dixon Tech Q2 Results: Profit Jumps Over 3.5 Times, Revenue More Than Doubles

Apcotex Q2 FY25 Earnings Highlights (Consolidated, YoY)

  • Revenue up 26% to Rs 351.1 crore versus Rs 279.2 crore.

  • Net profit down 28% to Rs 10.95 crore versus Rs 15.3 crore.

  • Ebitda down 13% to Rs 27.5 crore versus Rs 31.7 crore.

  • Margin narrows to 7.8% versus 11.3%.

Also Read: Colgate-Palmolive India Q2 Results: Profit Up 16%, Meets Estimates

The share price of Apcotex closed 1.11% lower at Rs 404.90 apiece on the NSE, compared to a 0.15% decline in the benchmark Nifty 50. The stock fell as much as 19.52% on a year-to-date basis and 17.49% in the last 12 months.

SMIFS Ltd. and Asian Markets Securities Pvt. have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analysts' consensus price targets implies a potential upside of 20.4%.

Also Read: HUL Q2 Results Review - Miss On Volume; Core Portfolio Performs Well; Reiterate 'Buy': Motilal Oswal

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Divya Prata
Divya Prata is a desk writer at NDTV Profit, covering business and market n... more
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