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Apcotex Industries: Sustainable traction in demand for medical gloves is a key watch

Over the next 15 months, Apcotex will spend Rs 130-140 crore capex largely targeting XNBR factory capable of producing 40,000 tonnes annually

October 30, 2020 / 10:18 AM IST
Apcotex Industries: Sustainable traction in demand for medical gloves is a key watch

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 - Double digit volume growth drives sales - Better spreads boost margins - Rs 130-140 crore allocated for XNBR and latex projects - Pricing power to remain compromised due to elevated competitive intensity Apcotex Industries (CMP: Rs 158; Market cap: Rs 819 crore) posted a sharp sequential recovery in the September quarter thanks to improving conditions in industries that use its products. The company is the leading domestic producer of nitrile rubber with a 25 percent market share. Part of the improvement was contributed by demand for new...

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