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Apcotex Industries (APCOTEXIND) investor relations material

Apcotex Industries Q2 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 25/26 earnings summary6 Nov, 2025

Executive summary

  • Q2 FY26 saw 11% volume growth, but operating revenue declined 4% year-over-year to INR 337 crore due to lower raw material and finished goods prices.

  • Operating EBITDA rose 48% year-over-year to INR 41 crore, with a margin of 12.06%.

  • PAT for the quarter was INR 25 crore, with a PAT margin of 7.51%.

  • The company turned net cash positive as of September 30, 2025.

  • Leading Indian producer of synthetic rubber and latex, recognized among Forbes Asia's Best Under A Billion 2023.

Financial highlights

  • H1 FY26 volumes up 18% year-over-year, with highest-ever export and overall volumes.

  • H1 operating revenue increased 4% year-over-year to INR 713 crore; EBITDA grew 34% to INR 79 crore; PAT up 73% to INR 45 crore.

  • Q2 FY26 operational revenue at INR 3,367 Mn, down 4.1% YoY; EBITDA up 47.6% YoY to INR 406 Mn; net profit up 130% YoY to INR 253 Mn.

  • Diluted EPS for Q2 FY26 at INR 4.88, up 131.3% YoY; H1 FY26 at INR 8.57, up 72.4% YoY.

  • Debt reduced by INR 53 crore in H1.

Outlook and guidance

  • Board approved INR 210 crore investment for capacity expansion at Valia facility, targeting 37,000 MT/yr synthetic latex and 14,600 MT/yr nitrile rubber and allied products.

  • Combined revenue potential from new capacity estimated at INR 550–600 crore.

  • Additional production to come on stream in phases by Q1 FY27.

  • Full utilization of expanded capacity expected within three years of commissioning.

  • Expansion aims to meet growing domestic and international demand.

Capex funding strategy and debt impact?
Q2 revenue decline vs. capacity expansion rationale?
Drivers of H1 FY26 operating cash flow surge?
Synthetic latex tech: cost, quality, productivity
NBR ADD: market impact with 0-duty importer
Path to mid-double-digit EBITDA margins
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Q3 25/2628 Jan, 2026
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Frequently asked questions

Apcotex Industries Limited is an India-based company, which is engaged in the manufacture and export of synthetic emulsion polymers. The Company's three segments include Synthetic Rubber Segment, Synthetic Latex and Intermediates Segment and Others Segment. The Synthetic Rubber Segment manufactures high styrene rubber products and nitrile rubber by using different process technologies like Emulsion Polymerisation, Suspension Polymerisation and Solution Polymerisation. The Synthetic Latex & Intermediates Segment manufactures synthetic latexes and intermediates.

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