What we do Apcotex Industries Ltd manufactures and markets synthetic rubber and latex products used in automotive, gloves, textiles, paper, construction, and specialty industries. |
Founded in 1,986 |
Market share Leader in India for synthetic rubber (NBR, High Styrene Rubber) and latex with significant global presence. |
Problem solved Provides essential polymer products enabling durable, high-performance materials for industries like tyres, gloves, paper coatings, and textiles. |
Top clients or who we serve Serves auto, glove manufacturers, textiles, paper, construction sectors; marquee clients include Asian Paints, ITC, Ultratech Cement, MRF, Pidilite. |
Key management Includes Chairman Atul Choksey (IIT Chicago), Managing Director Abhiraj Choksey (Wharton), and independent directors with top global experience. |
Our journey and innovations Started as Asian Paints division in 1986; spun-off 1991; expanded capacity multiple times; acquired Omnova Solutions India 2016; commissioned new large latex plants in 2024. |
Where we operate Operations primarily in India with exports and business across Southeast Asia, Middle East and Africa. |
Top products or what we offer Synthetic Latex (Vinyl Pyridine, Styrene Acrylics), Synthetic Rubber (NBR, High Styrene Rubber), Nitrile Latex used in diverse applications. |
Top brands NBR, High Styrene Rubber, Synthetic Latex are key products with industry-leading quality and customization capabilities. |
Raw materials needed Butadiene, Styrene, Acrylonitrile, crude oil derivatives, natural gas are primary raw materials. |
Raw materials supplier Procured from multiple petrochemical suppliers and importers within India and globally. |
Recurring vs cyclical contribution Revenue largely recurring through long-term supply contracts with key industries; subject to commodity price cyclicality. |
Our industry position Top 10 in synthetic rubber and latex manufacturing in India with strong brand and technological moat. |
Financial highlights FY25 Revenue INR 1392 Crores; EBITDA INR 125 Crores; PAT INR 54 Crores; 11%+ EBITDA margin; growing topline and profitability. |
Geographical revenue split Majority revenue from India (~88%), remainder (~12%) from international markets including Asia, Middle East, Africa. |
Order book - |
Whats driving growth Capacity expansions, strong R&D, rising demand in auto, gloves, construction sectors, and increased exports. |
Our future plans Investing INR 210 Crores to expand nitrile rubber and synthetic latex capacity; modernization and product innovation ongoing. |
Our green promise Focus on renewable energy through solar and wind projects; environmental certifications and sustainable manufacturing practices. |
Our people and values Over 550 employees; emphasis on innovation, safety, and corporate governance. |
Key challenges ahead Raw material price volatility, competitive pressures, regulatory compliance, and maintaining technology leadership. |
Interesting facts Only Indian manufacturer of nitrile rubber and high styrene rubber; featured in Forbes Asia Best Under A Billion 2023. |
Risks and strategy Mitigates raw material risks via procurement strategy; invests in capacity and innovation to sustain leadership. |
