Apcotex Industries: Abhishek Basumallick
Apcotex Industries: Abhishek Basumallick
Apcotex Industries: Abhishek Basumallick
Abhishek Basumallick
Company Overview
• Apcotex Industries (NSE:APCOTEXIND) was started as a division of Asian Paints in 1980. In 1991, the division was spun off
as a separate entity headed by Atul Choksey, the former MD of Asian Paints.
• They are a leading producer of synthetic rubber (nitrile rubber, high styrene rubber, nitrile polyblends and nitrile powder)
and synthetic latex (XSB latex, VP latex, styrene acrylics and nitrile latex) in India. The company has one of the broadest
ranges of emulsion polymers. Synthetic rubber and synthetic latex have a 50-50 revenue split.
• The various grades of synthetic rubber find application in products like automotive components, hoses, gaskets, rice de-
husking rollers, printing and industrial rollers, friction materials, belting and footwear.
• Synthetic latex is used in tyre, paper and paper board coating, Carpet backing, bonding and waterproofing in construction,
textile finishing, paints and distempers, asbestos joining, and brake show lining. The company has a range of 50 products in
synthetic latex.
• The main competitor in India is BASF. The main competitor in VP latex is Jubilant Industries.
• The plant of the company is strategically located at Taloja, which is 36 km from JNPT Port and 48 km from Mumbai Airport.
• Raw material for the product is petrochemical based. Main raw materials like Styrene, Acrylonitrile and Butadiene that are
used in several products. There is an availability risk associated with all since Styrene and Acrylonitrile are not
manufactured in the country and must be completely imported. Butadiene is currently available from only two
manufacturers in the country and the company is exploring import arrangements.