Apcotex Industries (APCOTEXIND) Q2 26/27 earnings summary

Executive summary

• H1 FY27 delivered record EBITDA, PBT and PAT, supported by higher volumes and improved margins.

• Q2 revenue rose 48.2% YoY to ₹49,892.46 lakh; sales volume grew 7% YoY, with exports recovering from Q1.

Financial highlights

• Q2 EBITDA was INR 583m, up 43.6% YoY; net profit was ₹3,483.65 lakh, up 37.5%.

• H1 revenue rose 43.8% to ₹1,02,455.81 lakh; EBITDA increased 121.2% to INR 1,754m and net profit rose 155.7% to ₹11,377.58 lakh.

• H1 diluted EPS increased 156.1% to INR 21.95; total comprehensive income rose 140.9% to ₹12,070.38 lakh.

Outlook and guidance

• Overall business volume growth expected at ~10% annually over the next 3–5 years, averaging 20%–30% above GDP growth.

• Valia NBR expansion targets commissioning in April 2027, with utilization expected to ramp over 2–3 years; SBR latex plant is expected to start in Q2 of the next financial year.

• Nitrile latex expansion decision deferred pending several more quarters of consistent margins; current margins have improved from the prior three years.

• October–November oil price increases may enable partial recovery of prior pricing and inventory pressures; quarter outcome remains subject to conditions ahead.