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    you are here: HomeNewsBusinessMoneycontrol Research

    Apcotex: Is it time to chip in?

    Apcotex faces increased competition in India from international peers, as freight costs have dipped significantly, leading to the disappearance of pricing advantage.

    Anubhav Sahu
    January 30, 2023 / 10:09 AM IST
    Apcotex: Is it time to chip in?

    In line with our expectations, realisations and margins contracted for Apcotex in Q3FY23.

    PRO Only Highlights
    -      Quarterly performance largely backed by improved realisations
    -      Medium-term triggers China plus and protectionist measures for tyre industry
    -      Valuations not inexpensive; but improved medium-term outlook

    Highlights Sequential drop in top line due to weaker pricing, demand softness Margins impacted by high-cost inventory New facilities to be commissioned in Q4FY23; ramp-up to be slower Product mix change to improve asset turns Long-term investors can keep it in radar In line with our expectations, realisations and margins contracted for Apcotex (CMP: Rs 433; Market Cap: Rs 2,244 crore) in Q3FY23. While a similar weak set are expected for H1CY23, we believe there are reasons to watch this counter for a long-term investment...

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