Apcotex Industries (APCOTEXIND) Q4 24/25 earnings summary

Executive summary

• Q4 FY25 operating income reached INR 349 crore, up 12.5% year-over-year, driven by record quarterly and export volumes, which grew 15% and 22% respectively year-over-year.

• Leading Indian producer of synthetic rubber and latex with a broad emulsion polymer portfolio, recognized among Forbes Asia's Best Under A Billion 2023.

• Market capitalization was INR 17,254 Mn as of March 31, 2025, with manufacturing facilities in Maharashtra and Gujarat.

• Audited financial results for the quarter and year ended March 31, 2025, were approved, showing continued profitability and growth.

• Board recommended a final dividend of Rs.4.50 per equity share for FY 2024-25, subject to shareholder approval.

Financial highlights

• FY25 operational revenue reached INR 1,392 crore (INR 13,924 Mn), up 24% year-over-year.

• FY25 EBITDA was INR 125 crore (INR 1,247 Mn), up 9.5% year-over-year; EBITDA margin at 9%.

• FY25 net profit after tax was INR 54.06 crore (INR 541 Mn), nearly flat year-over-year; PAT margin at 3.89%.

• Q4 FY25 revenue was INR 349 crore (INR 3,494 Mn), with EBITDA up 23% year-over-year and PAT at INR 17 crore.

• Export volume for FY25 grew 24% year-over-year, contributing 32% of sales.

Outlook and guidance

• No specific volume or revenue guidance provided, but latex segment expected to grow, while rubber segment growth is limited by current capacity.

• Management expects margins to improve over the next 1-2 years as industry capacity utilization rises and external uncertainties resolve.

• Profit growth trajectory indicated: +100% in 2022, +150% in 2023, +175% in 2024, and +200% projected for 2025.

• Final dividend of Rs. 4.50 per share recommended for FY 2024-25, reflecting confidence in ongoing performance.