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You are here : IndiaNotes >> Research & Analysis >> Companies >> Apcotex Industries Ltd. >> Research

Firstcall are 'overweight' on this ISO 9001:2008, ISO 14001:2004 & OHSAS 18001:2007 polymer company

Firstcall India Equity | 31 May, 2016  | Follow Author | Add to my Favourites 
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OUTLOOK AND CONCLUSION


- At the current market price of Rs.284.40, the stock P/E ratio is at 20.68 X F Y17E and 18.37 X FY18E respectively.


- Earning per share (EPS) of the company for the earnings for F Y17E and FY18E is seen at Rs. 13.76 and Rs. 15.48 respectively.


- Operating Profit and PAT of the company are expected to grow at a CAGR of 20% and 25% over 2014 to 2017B respectively.


- On the basis of EV/EBITDA, the stock trades at 11.85 X for F Y17E and 10.70 X for F Y18E.


- Price to Book Value of the stock is eXpected to be at 4.64 X and 4.11 X for F Y17E and F Y18E respectively.


- Hence, we say that, we are Overweight in this particular scrip for Medium to Long term investment.


SYNOPSIS


- Apcotex Industries Ltd. is one of the leading producers of Performance Emulsion Polymers in India.


- During Q4 FY16, company’s net profit jumps to Rs. 85.63 mn from Rs. 57.72 mn in Q4 FY15, an increase of 48.35%.


- Revenue for the 4th quarter stood at Rs. 679.52 mn as against Rs.771.23 mn, when compared with the prior year period.


- Reported earnings the company stood at Rs. 4.11 during the quarter, as against Rs. 5.52 over previous year period.


- For the quarter Q4 FY16, EBITDA grew by 21.23% to Rs. 140.44 mn from Rs. 115.85 mn in the corresponding period of the previous year.


- During Q4 FY16, Profit before tax grew 26.57% at Rs. 111.38 mn against Rs. 88.00 mn in Q4 FY15.


- The company has recommended a dividend of Rs. 4.50 per Equity share of Rs. 5/- each (i.e., 90%) for the financial Year Ended March 31, 2016.


- Apcotex Industries Ltd acquires 100% of Equity Capital of Omnova Solutions India Private Limited in all Cash deal.


- Net sales stood at Rs. 2683.51 mn for the end of financial year 2015-16 as compared to Rs.3550.81 mn for the end of financial year 2014-15.


- For the year end of 31St March 2016, Net Profit stood at Rs. 246.71 mn as against Rs. 246.80 mn, for the year end of 31St March 2015.


- Operating Profit and PAT of the company are expected to grow at a CAGR of 20% and 25% over 2014 to 2017E respectively.

 


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About Firstcall India Equity

Firstcall India Equity of Firstcall India Equity Advisors Pvt. Limited (FIEA), is a leading financial services provider in India and a SEBI Registered Category-I Merchant Banker. FIEA is a culmination of a credible Equity Research Capabilities, Long Standing Relationship with leading FIIs, DFIs, MFs, Overseas Pension Funds etc. The company’s research caters to the needs of the largest news wire and media houses of the world namely Reuters, Thomson, Capital IQ, Themarkets.com, Emerging Markets Euro money Publications-UK. The Company is among the major players in the Debt and Equity markets.


For more information please write in to [email protected]

 

Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.




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