Apcotex Industries (APCOTEXIND) Q3 24/25 earnings summary

Executive summary

• Achieved highest-ever quarterly revenue of INR 355 crore (INR 3,553 Mn) in Q3 FY25, up 38.2% year-over-year, with record volumes and export growth.

• EBITDA for Q3 FY25 was INR 27 crore (INR 271 Mn), up 6.7% year-over-year, with a margin of 7.63%.

• Profit after tax for Q3 FY25 reached INR 12 crore (INR 116 Mn), up 4.5% year-over-year; nine-month PAT at INR 37.3 crore (INR 373 Mn), down 3.4% YoY.

• Appointment of Mr. Rajendra Mariwala as Additional Non-Executive Independent Director effective February 1, 2025, for five years, subject to shareholder approval.

• Interim dividend of ₹2 per equity share declared for FY 2024-25, with record date set as February 3, 2025.

Financial highlights

• Q3 FY25 export volume grew 30% year-over-year; total volume up 23%.

• Nine-month revenue rose 28.1% year-over-year to INR 1,043 crore (INR 10,430 Mn), with EBITDA at INR 86 crore (INR 862 Mn) and margin at 8.26%.

• Gross margin for Q3 FY25 was 22.8%, and for nine months, 24.6%, both at decade lows.

• Diluted EPS for 9M FY25 at INR 7.2, down 3.2% YoY.

• Net profit after tax for the quarter: ₹1,469.58 lakhs; for nine months: ₹5,387.87 lakhs.

Outlook and guidance

• Margins expected to rebound in Q4 as raw material prices stabilize and freight rates decline.

• Capacity utilization improvements and industry-wide utilization increases anticipated to enhance pricing power and margins.

• Export share of revenue projected to rise from one-third to 42%-45% over the next few years.

• Interim dividend declared, reflecting confidence in ongoing financial performance.

• Forward-looking statements note risks from earnings fluctuations, competition, economic growth, and regulatory changes.