Apcotex Industries Ltd (APCOTEXIND) — concall transcript | 30 June 2026

Apcotex Industries reported record Q1 FY27 results with revenue of ₹526 crores (+40% YoY), EBITDA of ₹117 crores (+203% YoY), and PAT of ₹79 crores (+311% YoY), driven by price realizations and resilient operations despite export disruptions from geopolitical tensions. Inventory gains contributed ~2% to EBITDA, while export volumes declined 10-12% offset by 10% domestic growth. Management highlighted sustainable 15-16% average margins, strategic CAPEX plans for NBR and synthetic latex capacity expansion, and a revised ₹130-135 crores investment (down from ₹220 crores) focused on debottlenecking. The company maintains a strong net cash position of ₹40 crores, low debt, and prioritizes organic growth over shareholder returns. CAPEX allocation reflects cautious expansion amid global overcapacity, with first-phase capacity additions expected by Q1 next year. Margins are improving but not yet at pre-COVID levels, and export opportunities are being evaluated amid rupee depreciation and MENA region challenges.