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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
Apcotex Industries Limited is an India-based specialty chemical company. The Company produces synthetic lattices (VP Latex, SBR and Acrylic Latex, Nitrile Latex) and synthetic rubber (high styrene rubber, nitrile butadiene rubber). It has a range of products based on…
Weekly engine runs — movement reflects the numbers, not analyst opinion.
An exceptional, stagnant business, reasonably priced.
Apcotex Industries is scored on the general / industrial framework. It keeps a slim 7.0% of every rupee of sales as net profit. Those profits are backed by real cash — operating cash flow runs 2.01× reported profit. It throws off free cash worth 5.8% of its market value — a strong free-cash yield.
Over the last 3 years revenue compounded at 10%/yr and profit at -2%/yr. Book value has grown 9%/yr. Return on equity is an elite 24.4%. In the latest quarter profit fell 56% versus the prior quarter.
At 25× earnings, the stock sits at the 22nd percentile of its own 3.6-year range — the cheap end of where it has historically traded. Today's price asks for only ~2%/yr growth over a decade — undemanding expectations. The books come through clean — a forensic grade of A, and Altman puts distress risk in the safe zone.
A plain-English restatement of the figures on this page — rules-based, for education and research context, not investment advice or a recommendation.
| Ratio | Company | Sector | Read |
|---|---|---|---|
| P/E | 12.22 | 30.77 | better |
| P/B | 2.39 | 3.14 | better |
| EV/EBITDA | 9.59 | — | — |
| ROE | 24.37 | 5.9 | better |
| ROCE | 19.47 | 10.57 | better |
| ROA | 17.84 | 4.95 | better |
| Quick Ratio | 1.12 | 3.9 | worse |
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Pidilite Industries | 59.1 | 14.3 | 23.9% |
| SRF | 32.3 | 4.8 | 14.9% |
| Linde India | 118.3 | 13.3 | 11.3% |
Revenue has grown every year across all 4 financial years shown. 10% CAGR over 3 years — steady double-digit compounder. Growth is decelerating — latest year grew slower than the year before.
Revenue is outpacing profit (10% vs -2%) — costs are rising faster than the top line. The latest year saw a +88% swing — check if it's a one-off or structural.
Operating margin has compressed from 13% to 9% — costs or competition are eating into profitability. Margins have declined for 2 consecutive years — watch for a structural cost problem.
ROE at 16% — a respectable return on shareholder capital. High ROE despite single-digit margins — an asset-turn play with high capital velocity. Capital efficiency declining — ROE down 6pp.
-2% EPS CAGR — this is the rate at which each share's claim on earnings is compounding.
Operating cash flow has been positive every year — the business generates real cash, not just accounting profit. Cash conversion at 2.0× PAT — earnings are well-backed by cash; strong accrual quality. Heavy investing spend every year, but operations generate enough to cover it — the business self-funds its growth.
When operating cash keeps pace with reported profit, earnings are cash-backed; a persistent shortfall is a quality flag.
Revenue broadly flat QoQ — stable but not accelerating. Wide quarterly swings (37% spread) — likely seasonality, lumpy orders, or project-based revenue. Run-rate stepping up — recent quarters average 40% above earlier ones.
Profit fell 56% QoQ — one-quarter drops can be noise, but a pattern matters.
How today's P/E compares to the stock's own historical range. Dashed line = the 3.6y median.
Promoter holding at 58.2% — majority control intact.
Produced by a rules-based engine over licensed exchange fundamentals — every sentence above is derived from the numbers shown, no analyst or AI opinion involved. Education and research context, not investment advice. We are not SEBI-registered as an Investment Adviser or Research Analyst.