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Ideas for Profit | Apcotex Industries: Hit by auto slowdown, capex execution remains key

January 01, 2020 / 11:50 AM IST
Ideas for Profit | Apcotex Industries: Hit by auto slowdown, capex execution remains key

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights - Sales affected by weak end-user markets and lower realizations - Sharp margin contraction in a key product--nitrile rubber - Phase 1 (Rs 100 crore) of capex on track; Phase 2 (Rs 250 crore) is awaiting clearance - Strong balance sheet, working capital management, reputed management are key positives Apcotex Industries (Market cap: Rs 772 crore), a producer of synthetic latexes and rubber, posted a weak set of numbers due to a severe slowdown in end-user markets and a sharp decline in raw material prices. Though Apcotex is...

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