Slides
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Earnings Presentation Q1-FY27
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2 Apcotex Industries Ltd (Apcotex) 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 range of Emulsion Polymers available in the market today. Apcotex is listed on both the BSE and NSE and has an approximate market capitalisation of INR 26,265 Mn as on 30th June, 2026. OVERVIEW SYNTHETIC LATEX ▷ Paper/ Paper Board, Carpet, Gloves, Construction, Tyre Cord, Speciality, Textile. SYNTHETIC RUBBER ▷ Automobile, Footwear, Rice Rolls, Various Rubber Products. SYNTHETIC LATEX ▷ ITC, Asian Paints, Ultratech Cement, Welspun, BILT, JK PAPER, Pidilite Industries, MRF, SRF, Century Enka, Standard, Mac, Kordsa etc. SYNTHETIC RUBBER ▷ Paragon Footwear, Jayshree Polymers, Parker Hannifin, Gates India, Armacell, Supreme Industries etc. ▷ . Taloja Facility: Maharashtra ▷ 1,03,000 MTPA Synthetic Latex ▷ 7,000 MTPA High Styrene Rubber Valia Facility: Gujarat ▷ 21,000 MTPA Nitrile Rubber and Allied Products. ▷ 50,000 MTPA Nitrile Latex Plant. BUSINESS MIX MARQUEE CLIENTS MANUFACTURING FY26 FINANCIALS Operational Revenue - INR 14,415 Mn EBITDA - INR 1,774 Mn PAT- INR 1,014 Mn Executive Summary
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3 The company’s Taloja plant was established in 1980 as a division of Asian Paints (India) Ltd. In 1991, the division was spun off as a separate company, which was headed by Mr. Atul Choksey, former MD of Asian Paints. The company is currently headed by Abhiraj Choksey who is the Vice Chairman and Managing Director. Apcotex has a significant global presence and for last few years has done business in all continents and several countries. It is one of the leading producers of Synthetic Rubber and Synthetic Latex in India. Its state-of-the-art manufacturing plants are strategically located on the western coast of India. Over the past several years, the company has developed a strong Research & Development base, which has enabled them to develop, manufacture and export products and compete effectively against global players. Apcotex Industries has a workforce strength of over 550 fulltime employees. Apcotex Industries is also a part of the Top 10 Indian companies on the list of “Forbes Asia Best Under A Billion 2023”. Operational Revenue (INR Mn) and EBITDA Margin (%) 11,246 13,924 14,415 5,256 10.13% 8.96% 12.31% 22.28% - 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 FY24 FY25 FY26 Q1-FY27 Company Overview
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4 Q1-FY27 Financial Highlights Q1-FY27 Operational Highlights Q1-FY27 Financial and Operational Highlights INR 5,256 Mn Operational Revenue 39.9% YoY INR 1,171 Mn EBITDA 202.6% YoY 22.28% EBITDA Margin 1,198 Bps YoY INR 789 Mn Net Profit 310.9% YoY 15.01% Net Profit Margin 990 Bps YoY INR 15.23/share EPS 311.6% YoY • Revenue from Operations reached an all-time quarterly high, growing 40% year-on-year, driven by higher price realisations despite lower sales volumes. • Delivered the strongest quarterly financial performance with the highest-ever EBITDA, PBT and PAT in the company's history • Export volumes were impacted by geopolitical tensions in West Asia and the resulting logistics disruptions, which adversely affected shipments across key export markets. • Continued executing strategic capital expenditure projects with a disciplined focus on supporting future growth, capacity expansion and long-term operational efficiency. • Working capital requirements increased due to elevated raw material prices, resulting in higher inventory values and receivables following the pass-through of increased input costs to customers.
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5 Particulars (INR Mn) Q1-FY27 Q1-FY26 Y-o-Y Q4-FY26 Q-o-Q Operational Revenue 5,256 3,758 39.9% 3,976 32.2% Total Expenses 4,085 3,371 21.2% 3,429 19.1% EBITDA 1,171 387 202.6% 547 114.1% EBITDA Margins 22.28% 10.30% 1,198 Bps 13.76% 852 Bps Depreciation 131 113 15.9% 140 (6.4)% Finance Cost 21 37 (43.2)% 24 (12.5)% Other Income 27 26 3.8% 67 (59.7)% Profit Before Exceptional Items and Tax 1,046 263 297.7% 450 132.4% Exceptional Item - - NA - NA PBT 1,046 263 297.7% 450 132.4% Tax 257 71 262.0% 103 149.5% PAT 789 192 310.9% 347 127.4% PAT Margins 15.01% 5.11% 990 Bps 8.73% 628 Bps Other Comprehensive Income 79 50 58.0% (85) NA Total Comprehensive Income 868 242 258.7% 262 231.3% Diluted EPS (INR) 15.23 3.70 311.6% 6.70 127.3% Quarterly Financial Performance
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6 Particulars (INR Mn) FY24 FY25 FY26 Q1-FY27 Operational Revenue 11,246 13,924 14,415 5,256 Total Expenses 10,107 12,676 12,641 4,085 EBITDA 1,139 1,248 1,774 1,171 EBITDA Margins 10.13% 8.96% 12.31% 22.28% Depreciation 315 416 496 131 Finance Cost 156 173 112 22 Other Income 77 103 173 28 Profit Before Exceptional Items and Tax 745 762 1,339 1,046 Exceptional Item - - 9 - PBT 745 762 1,348 1,046 Tax 206 221 334 257 PAT 539 541 1,014 789 PAT Margins 4.79% 3.89% 7.03% 15.01% Other Comprehensive Income 203 59 27 79 Total Comprehensive Income 742 600 1,041 868 Diluted EPS (INR) 10.39 10.43 19.56 15.23 Historical Income Statement
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7 Particulars (INR Mn) FY24 FY25 FY26 Shareholders Fund 5,217 5,532 6,210 Equity Share Capital 104 104 104 Other Equity 5,113 5,428 6,106 Total Non-Current Liabilities 1,281 949 675 Deferred Tax liabilities 199 206 175 Borrowings 936 624 317 Lease liabilities 45 34 22 Long Term Provision 31 37 118 Other Financial Liabilities 70 48 43 Total Current Liabilities 2,722 3,508 2,980 Short Term Borrowings 892 1,224 613 Lease Liabilities 10 11 13 Trade Payables 1,348 1,876 1,844 Other Financial Liabilities 341 233 224 Short Term Provision 15 24 100 Current Tax Liabilities - - - Other Current Liabilities 116 140 186 TOTAL EQUITY & LIABILITIES 9,220 9,989 9,865 Particulars (INR Mn) FY24 FY25 FY26 Total Non-Current Assets 4,958 4,905 4,911 Property, Plant and Equipment 3,838 3,842 3,623 Capital Work in progress 79 119 113 Investment Properties 15 14 14 Financial Assets 886 834 949 Intangible Assets 5 4 2 Non Current Tax Assets (net) 68 - - Other Non-Current Assets 67 92 210 Total Current Assets 4,262 5,084 4,954 Investments 225 226 225 Inventories 1,250 1,378 1,282 Trade Receivables 2,030 2,540 2,445 Cash & Cash Equivalents 152 265 318 Other Bank Balances 90 125 141 Short Term loans & Advances 5 5 3 Other Financial Assets 162 177 152 Current Tax Assets (net) - 28 24 Other Current Asset 348 340 364 TOTAL ASSETS 9,220 9,989 9,865 7 Balance Sheet
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8 2.86 3.53 3.75 FY24 FY25 FY26 Total Fixed Asset Turnover Ratio (x) 0.31 0.27 0.08 FY24 FY25 FY26 Net Debt to Equity (x) 1,139 1,248 1,774 1,171 10.13% 8.96% 12.31% 22.28% FY24 FY25 FY26 Q1-FY27 EBITDA (INR Mn) and EBITDA Margin (%) 11,246 13,924 14,415 5,256 FY24 FY25 FY26 Q1-FY27 Operational Revenue (INR Mn) 539 541 1014 789 4.79% 3.89% 7.03% 15.01% FY24 FY25 FY26 Q1-FY27 PAT (INR Mn) and PAT Margin (%) Historical Performance Indicators
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9 Apcotex Industries Ltd Disclaimer: This presentation and the accompanying slides (the “Presentation”), which have been prepared by Apcotex Industries Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. This presentation contains certain forward looking statements concerning the Company’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage our international operations, government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the Company. Valorem Advisors Disclaimer: Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review. For further details, please feel free to contact our Investor Relations Representatives: Mr. Anuj Sonpal Valorem Advisors Tel: +91-22-35075100 Email: apcotex@valoremadvisors.com Kit Link: https://valoremadvisors.com/apcotex Mr. Drigesh Mittal Apcotex Industries Limited CIN: L99999MH1986PLC039199 Email: drigesh.mittal@apcotex.com Disclaimer
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Thank You