Apcotex Industries Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 30 May 2026 | Industrial Products | Market Cap: ₹3.3K Cr
Volume growth has been strong, with 18% increase in H1 FY'26 and 11% in Q2. Volume growth is strong with 18% increase in H1 FY26, supporting earnings growth.
From Apcotex Industries Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹625
Market Cap
₹3.3K Cr
P/E Ratio
20.3
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Apcotex Industries Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹398 Cr, net profit ₹35 Cr.
Full financials →📊 Revenue & Sales Performance
- →Volume growth has been strong, with 18% increase in H1 FY'26 and 11% in Q2.
- →Expansion plans approved with INR 210 crores capex at Valia facility, adding 37,000 MT synthetic latex and 14,600 MT nitrile rubber capacity.
- →Combined revenue potential from expansion is INR 550-600 crores.
- →Additional capacity expected to come on stream phased over six to seven quarters, targeted by Q1 FY'27-28 (April-June 2027).
- →Volume ramp-up post-expansion expected over approximately 3 years.
- →Export volumes grew 31% YoY, aiming to increase export share from ~31% to 45% over next 1-2 years.
- →Business anticipates ongoing volume-led growth with capacity constraints for NBR currently, but planned expansion to relieve this.
- →Margins and revenue may be impacted by raw material prices; however, improved capacity utilization and operational efficiency support growth.
📈 Profitability & Margins
- →Volume growth is strong with 18% increase in H1 FY26, supporting earnings growth.
- →Operating EBITDA increased 34% YoY in H1 FY26 with margin expansion to 11.13%, indicating improving profitability.
- →PAT grew 73% YoY in H1 FY26 to INR 45 crores, showing significant profit improvement.
- →Capacity expansion of 37,000 MT synthetic latex and 14,600 MT nitrile rubber planned, with revenue potential of INR 550-600 crores.
- →Expansion to complete by FY 27-28, with phased commissioning starting Q1 FY27-28.
- →Expected volume ramp-up over 3 years post-expansion.
- →Anti-dumping duty notification expected by December end; potential positive impact on margins, though mixed due to partial duties imposed.
- →Cash flow from operations is strong and net cash positivity achieved, supporting future investments.
- →Export contribution targeted to increase to 45%, aiding revenue and margin growth.
- →Overall outlook: volume-led revenue growth, margin expansion, and improved profitability driven by capacity expansions and market dynamics.
🏗️ Capital Expenditure Plans
- →Announced CAPEX of approximately Rs. 210 crore spread over 6-7 quarters, focused on expansion at the Valia facility.
- →Expansion includes synthetic latex capacity (styrene butadiene latex and styrene acrylic latexes) and nitrile butadiene rubber (NBR) allied products.
- →Synthetic latex expansion targets capacity increase by about 35-40%, with next-generation technology for better productivity, cost, and quality.
- →NBR expansion is a brownfield project aiming to increase capacity to around 35,000-36,000 tonnes, making the company a mid-sized global player.
- →Capital expenditure expected around Rs. 65 crore in FY26, with Rs. 20-25 crore for expansion and the rest for maintenance and other projects.
- →Additional minor debottlenecking and capacity increments phased between mid-2026 and early 2027.
- →Expansion expected to be completed by FY27-28, with capacity utilization ramp-up planned over three years.
- →Consideration of future second-leg expansion for nitrile latex remains, contingent on margin improvements.
💰 Fundraising & Capital Structure
- →The company plans a total capital expenditure of approximately INR 210 crores for capacity expansion at their Valia facility.
- →The expansion includes 37,000 metric tonnes per annum for synthetic latex and 14,600 metric tonnes for nitrile rubber and allied products.
- →This CAPEX will be spread over six to seven quarters and financed through a mix of debt and internal accruals.
- →For the current financial year (FY26), total CAPEX is expected around INR 65 crores, with INR 20-25 crores allocated to expansion projects.
- →No explicit mention of a new equity fundraising; reliance is mainly on debt and internal accruals to fund expansions.
- →The company has recently reduced debt by about INR 53 crores, demonstrating financial discipline.
📋 Order Book & Pipeline
Key Metrics
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Frequently Asked Questions
What were Apcotex Industries Ltd Q2 FY26 results?
Volume growth has been strong, with 18% increase in H1 FY'26 and 11% in Q2. Volume growth is strong with 18% increase in H1 FY26, supporting earnings growth.
What is Apcotex Industries Ltd share price analysis?
Apcotex Industries Ltd currently shows a neutral. The stock trades at a P/E of 20.3 with a market cap of ₹3,264 Cr. Investors should review the full earnings analysis for detailed insights.
Is Apcotex Industries Ltd planning capital expenditure?
Announced CAPEX of approximately Rs.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.