Apcotex
Industries Ltd (523694) closes
at ₹ 270.80 with
a Gain of +12.60 % on
06-May-2021 with formation of a Long Green Candle on Daily Price
Chart.
About the Company : Apcotex Industries Limited is engaged in
the business of producing synthetic emulsion polymers. The Company's product
range includes vinyl pyridine latex, carboxylated and non-carboxylated styrene
butadiene latexes, acrylic latexes, nitrile latex and synthetic rubber. The
Company's range of latexes is used for Tire cord dipping, paper/board coating,
carpet backing, construction (concrete modification and water proofing),
paints, textile finishing and automotive components. Its high styrene synthetic
rubber is used in various applications, such as footwear, automotive
components, v-belts, conveyer belts and hoses. Its synthetic latex products for
paper include Apcotex PC 200, Apcotex PT 600 and Apcotex PT 750. Its synthetic
latex products for construction include Apcotex PC 400, Apcotex TSN100, Apcotex
TSN400 and Apcotex TSN543. Its synthetic latex products for textile include
Apcotex TX 400, Apcotex TX 500 and Apcotex TX 600. Its manufacturing plants are
located at Taloja, Mumbai.
Sector Update : Positive
Strength : Natural rubber prices have soared 75 per cent from the
lows after the pandemic hit demand. It is believed that with rising global
demand and limited supplies, prices could test 2010-11 highs of $5 per kg over
the next five years. Rubber prices are trading at Rs 168-Rs 170 per kg or $2.3
per kg.
Financials : Apcotex Industries Limited has posted Net Sales /
Revenue of ₹541.00 Cr &
Net Profit of ₹ 44.00Cr in
FY2021 and expected to post Net Sales / Revenue of ₹740.70 Cr &
Net Profit of ₹ 54.80Cr in FY2022.
Valuations : The Company is now
Trading at X 2.38 of its valuations ( FY2020-21
earnings considered here) with ~128 % premium and at X1.55 of its FY 2022, which is now almost ~55% premium
to its value .
Margin of Safety (1Yr Bond Yield: Value>1
) is now 0.40 which
makes is attractive after a ~60% fall in market price. The Equity Value Per Share ( Enterprise Value Method
) is ₹268.
If We factor its earnings/valuations, its Price arrives
at ₹682.50 with
consideration FY2022 earnings.
Disclaimer : We are / may going to take exposure shortly.
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Data
Source | NSE Website | Screener.In | Capital Line | Money Control |
The
author tracks economic, behavioural and corporate tends, hoping to gauge good
avenues of return based on Fundamental Valuations of Stocks, a follower of EPV
method. You can reach me/us at |
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