APIS Share Price ₹51.6 | P/E 28.7

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of APIS

Quarter-by-quarter operating performance

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales +	88.18	77.03	78.92	79.08	79.09	79.02	87.08	80.43	92.68	90.16	86.86	96.25	109.51
Expenses +	81.93	71.21	70.57	71.76	66.13	73.22	79.84	71.50	84.07	79.34	79.99	85.19	99.29
Operating Profit	6.25	5.82	8.35	7.32	12.96	5.80	7.24	8.93	8.61	10.82	6.87	11.06	10.22
OPM %	7.09%	7.56%	10.58%	9.26%	16.39%	7.34%	8.31%	11.10%	9.29%	12.00%	7.91%	11.49%	9.33%
Other Income +	0.25	0.64	0.06	0.56	0.15	0.31	0.25	0.14	0.74	0.74	0.85	0.38	0.49
Interest	1.99	2.06	1.77	1.44	1.05	1.67	1.37	1.37	1.10	1.11	0.98	0.80	1.12
Depreciation	0.57	0.57	0.47	0.71	0.47	0.72	0.60	0.65	1.45	1.24	1.04	1.18	1.19
Profit before tax	3.94	3.83	6.17	5.73	11.59	3.72	5.52	7.05	6.80	9.21	5.70	9.46	8.40
Tax %	29.19%	77.81%	29.17%	29.84%	0.26%	54.84%	29.17%	23.69%	27.50%	26.17%	29.65%	24.52%	28.93%
Net Profit +	3.36	5.73	8.92	5.05	15.62	2.97	5.27	6.71	5.23	8.13	2.53	7.08	3.88
EPS in Rs	0.24	0.42	0.65	0.37	1.13	0.22	0.38	0.49	0.38	0.59	0.18	0.51	0.28

Financials of APIS

Annual income statement trend

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales +	182	224	209	272	295	332	316	350	383
Expenses +	163	206	198	257	276	310	282	315	344
Operating Profit	20	18	11	15	19	22	34	36	39
OPM %	11%	8%	5%	6%	6%	7%	11%	10%	10%
Other Income +	1	0	1	1	1	1	1	2	2
Interest	2	3	5	5	7	8	6	5	4
Depreciation	2	3	3	2	3	3	2	4	5
Profit before tax	16	12	4	8	9	13	27	29	33
Tax %	31%	26%	43%	38%	38%	43%	20%	26%
Net Profit +	12	11	3	6	8	18	33	25	22
EPS in Rs	0.87	0.77	0.24	0.46	0.58	1.32	2.36	1.84	1.56
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%

Financials of APIS

Capital structure and asset base

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	6	6	6	6	6	6	6	6	6
Reserves	60	70	74	79	92	110	142	168	177
Borrowings +	55	66	65	85	104	75	60	66	47
Other Liabilities +	34	42	54	61	56	62	56	48	40
Total Liabilities	154	184	198	231	257	253	265	288	270
Fixed Assets +	14	14	14	14	14	12	13	15	19
CWIP	1	2	3	1	0	0	0	0	0
Investments	1	2	10	12	14	25	36	40	38
Other Assets +	138	165	171	203	229	215	215	233	213
Total Assets	154	184	198	231	257	253	265	288	270

Financials of APIS

Operating, investing and financing cash movement

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	12	5	16	-5	12	18	-3	6
Cash from Investing Activity +	-8	-7	-9	2	-4	-9	8	0
Cash from Financing Activity +	-1	-7	-5	2	-6	-10	-6	-6
Net Cash Flow	4	-8	1	-1	2	-1	-1	-0
Free Cash Flow	5	3	13	-4	10	16	-7	3
CFO/OP	61%	44%	149%	-13%	80%	104%	5%	42%

Financials of APIS

Working capital efficiency and return ratios

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	75	77	80	79	105	86	98	120
Inventory Days	178	232	312	236	213	153	178	131
Days Payable	86	107	133	87	81	73	73	55
Cash Conversion Cycle	167	201	259	227	238	166	203	196
Working Capital Days	77	83	81	84	83	74	114	126
ROCE %		12%	6%	8%	9%	10%	16%	14%

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