Apcotex Industries Limited
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BSE Code:
523694
NSE Code:
APCOTEXIND
Business Profile
Business Profile
Apcotex Industries (APCOTEX) is one of the leading producers of synthetic lattices (VP latex, SB latex, nitrile latex) and synthetic rubber (SBR). It was incorporated as a private limited company in 1986 and converted into a public limited company on May 12, 1988. The chairman of the company is Atul C. Choksey and S.K. Lahiri, director and CEO.
The company has a broad range of products based on styrene?butadiene chemistry. Products include synthetic rubber latex like vinyl pyridine latex (VP latex) used in tyre cord dipping; styrene butadiene latex (SB latex) used as binders for coated paper and board, binders for carpet backing, finishing agent for textiles binders, and for construction and cement admixture. It also includes synthetic rubbers like high styrene rubber (HSR) footwear, shoe sole and rubber flooring application; styrene butadiene rubber for conveyer belting, v-belts, hoses, automobile components and various molded products and profiles.
The company is ISO 9001:2000 certified company and is also in the process of implementing the total productive maintenance program under the guidance of the Japan Institute of Plant Maintenance. The company has its plant located in Taloja, Maharashtra with an installed capacity of 21,000 MTPA to produce synthetic rubber and latices. It is an approved supplier to large manufacturers of paper and paper boards in the country and have exported products worth more than USD 774,000 to seven countries.
The corporate office is at NKM International House, 178 Backbay Reclamation, Babubhai M. Chinnai Marg, Mumbai?400020 and registered office at Plot No. 3/1, MIDC Industrial Area, Taloja, district Raigad-410208, Maharashtra.
Financials
The company disclosed a substantial drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 71.30% to Rs 3.70 million from Rs 12.89 million in the same quarter last year. Net sales declined 26.35% to Rs 184 million, while total income for the quarter fell 29.89% to Rs 185.33 million, when compared with the prior year period. It posted earnings of Rs 0.67 a share during the quarter, registering 71.24% decline over prior year period.