Apcotex Industries LimitedQ2 revenue +48%, EBITDA ₹58 Cr, record H1 profit

Apcotex Industries' Q2 FY27 call, held on 29 October 2026, reported operating revenue of ₹499 crore, up 48% on 7% higher sales volumes, operating EBITDA of ₹58 crore, up 44%, at an 11.69% margin against 12.06%, and profit after tax of ₹35 crore, up 38%.

First-half revenue was ₹1,025 crore, EBITDA ₹175 crore, up 121%, and profit after tax ₹114 crore, up 156%, the strongest half-year on record. Gross margin fell to a four-quarter low as prices stayed high and about 1.5% was lost to inventory losses, and management said it focuses on volumes, EBITDA per tonne and ROCE rather than the margin percentage. Exports recovered after a weak Q1, though carpet customers remain weak.

The ₹210 crore Valia expansion is on track for solid NBR in April 2027, with an SBR latex plant later, and the nitrile latex expansion decision awaits more quarters of steady margins. Management expects volume growth of about 10% a year over three to five years, and the company is net cash positive.