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.

• EBITDA for Q4 was INR 39 crore, a 23% increase year-over-year, with margin improvement to 11% from 10% in Q4 FY24 and 7.63% in Q3 FY25.

• Profit after tax (PAT) for Q4 stood at INR 17 crore, up 10% year-over-year and 44.8% sequentially, with a PAT margin of 4.81%.

• FY25 revenue from operations rose 24% year-over-year to INR 1,392 crore, with EBITDA at INR 125 crore (up 9.5% year-over-year) and a 9% EBITDA margin.

• 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 13,924 Mn, up 23.8% year-over-year.

• FY25 EBITDA was INR 1,247 Mn, up 9.5% year-over-year; EBITDA margin at 8.96%.

• FY25 net profit was INR 541 Mn, nearly flat year-over-year; net profit margin at 3.89%.

• Export volume for FY25 grew 24% year-over-year, and overall volume increased 16%.

• Diluted EPS for FY25 was INR 10.43, up 0.4% year-over-year.

Outlook and guidance

• No specific growth guidance provided, but latex segment expected to continue growing, while rubber segment growth is limited by current capacity.

• Management expects margin improvement as industry capacity utilization rises and external uncertainties resolve.

• Export share is expected to rise above 40% in the next few years, with focus on regional markets.

• 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.