Apcotex Q1 FY27 Revenue Surges 40% to ₹526 Cr; EBITDA Soars 203%
Apcotex Industries reported record Q1 FY27 revenue of ₹526 Cr, up 40% YoY, driven by price realizations. EBITDA surged 203% to ₹117 Cr with margins at 22.3%. PAT grew 311% to ₹79 Cr. The company is undertaking CAPEX of ₹200-220 Cr for capacity expansion, with NBR expected by Q1 next year.
The record financial results, substantial year-on-year growth, and strategic CAPEX plans are significant developments that are likely to have a high impact on the company's valuation and investor sentiment.
The company reported record revenues, significant EBITDA and PAT growth, and improved margins, indicating a strong financial performance.
Apcotex Industries Limited has reported a stellar performance for the first quarter of the financial year 2027, achieving its highest ever quarterly revenue of ₹526 crore, marking a significant 40% year-on-year growth. This impressive revenue surge was primarily driven by improved price realizations, despite a dip in sales volumes.
The company also achieved historical financial milestones, reporting its highest ever EBITDA, profit before tax, and profit after tax. Operating EBITDA stood at ₹117 crore, a substantial 203% increase year-on-year, with EBITDA margins expanding to 22.3% from 10.3% in the same quarter last year. Profit after tax for the quarter was ₹79 crore, a remarkable 311% jump from ₹19 crore in the corresponding quarter of the previous year, leading to a PAT margin improvement to 15.01% from 5.11%.
Despite temporary headwinds in the export business due to geopolitical developments in West Asia and increased logistic costs impacting export volumes, the company's strong performance was underpinned by its strategic operational resilience, disciplined inventory planning, proactive procurement, and effective risk management. These strategies ensured uninterrupted customer service during industry-wide disruptions, allowing Apcotex to capitalize on constrained market supply and deliver strong profitability.
During the quarter, working capital requirements increased due to higher raw material prices, leading to higher inventory values and receivables. The company also continued to execute its strategic CAPEX plans. The transcript of the earnings conference call held on July 30, 2026, has been made available on the company's website and submitted to the stock exchanges.
Management discussed that inventory gains contributed approximately 2% to the EBITDA. While overall volumes dropped by 10-12% due to export challenges, domestic volumes increased by 10%. The company is confident of achieving average margins of 15-16% and expects its NBR capacity expansion to be on stream by Q1 of next year, with other synthetic latex CAPEX to follow shortly after. The total CAPEX for these projects is around ₹200-220 crore. The company maintained a net cash position of approximately ₹30 crore at the end of the quarter.
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