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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹398 Cr
verified against source
Revenue YoY
14%
reported change
EBITDA
₹55 Cr
latest reported figure
Source
nse announcements
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Apcotex delivered a strong Q4 FY26 with revenue of INR 398 Cr (+14% YoY) and EBITDA of INR 55 Cr (+42% YoY), driven by higher volumes (+10% YoY), better realizations, and operational efficiencies. PAT surged 107% YoY to INR 35 Cr, while EBITDA margins expanded to 13.76% (+270 bps YoY). The nitrile latex segment saw significant margin improvement, partly due to temporary supply disruptions from the West Asia crisis. Management highlighted proactive raw material coverage ensuring uninterrupted operations. For FY27, volume growth is expected in low double digits, but revenue visibility is low due to volatile raw material prices and geopolitical uncertainty. Key risk: a sharp drop in crude prices could hurt margins given high-cost inventory coverage.
Colored figures show movement against the previous available record.
Guidance to track
- Expansion project to double NBR capacity is on track, expected to come on stream in Q1 FY28.
- Board approved a new R&D center with planned spend of INR 20-25 Cr on infrastructure this year.
- Management expects low double-digit volume growth for FY27, subject to demand and capacity constraints.
Risks flagged
- If crude prices fall sharply, the company may be stuck with high-cost inventory, compressing margins for a quarter.
- The West Asia crisis has disrupted exports to the Middle East, Egypt, and Turkey, which contribute ~12% of revenue.
- Rising raw material costs may face pushback from customers, especially in automotive and other price-sensitive sectors.
- Improved nitrile latex margins partly due to temporary supply disruptions; structural improvement is gradual.
Key quotes
- We were able to run our plant without even one day of shutdown because we were able to take some bold calls in early March.
- I think in the long run, I don't know what these kind of high energy prices and high petrochemical prices... nobody knows. I don't think anyone can predict what the demand disruption will be.
- We are in a niche space in a few geographies, a few products. We are trying to improve and grow in that.
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