Apcotex Industries (APCOTEXIND) Q4 11/12 earnings summary

Executive summary

• FY12 gross sales rose 25.37% to ₹27,789.77 lakh; profit after tax increased to ₹1,146.38 lakh from ₹1,072.36 lakh.

• Export sales reached ₹2,234.41 lakh, up 117.17% YoY; operating profit before tax and depreciation rose 10.18% to ₹1,686.33 lakh.

• New acrylic latex products gained market acceptance; FY12 included a TPM Excellence Award and ISO 14001 and OHSAS 18001 certifications.

Financial highlights

• Gross sales ₹27,789.77 lakh vs ₹22,165.76 lakh; net revenue from operations ₹25,384.72 lakh vs ₹20,191.96 lakh.

• EBITDA ₹2,307.92 lakh vs ₹2,026.00 lakh; PBT ₹1,631.20 lakh vs ₹1,506.82 lakh.

• PAT ₹1,146.38 lakh vs ₹1,072.36 lakh; finance costs rose to ₹398.08 lakh from ₹254.42 lakh.

• Raw material consumption increased to ₹19,355.32 lakh from ₹15,209.07 lakh; employee expense rose to ₹1,008.50 lakh from ₹777.48 lakh.

Outlook and guidance

• FY13 outlook is cautiously optimistic, with growth, new products and market-share gains expected to support prospects despite volatile input prices.

• Efficiency improvements planned across operations to mitigate adverse conditions; management expects volatility in key input material prices to remain challenging.