Apex Ecotech Ltd.

•

apexecotech.comBSE: -NSE: APEXECO

Market Cap₹ 359 Cr.

Current Price

High / Low₹ 297 / 102

Stock P/E21.1

Book Value₹ 35

Price to Book2.25

Dividend Yield0.00 %

ROCE37.5 %

ROE28.1 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Utilities

Buy

Utilities are backed by firm electricity demand and output. Power generation grew 8.0% YoY (2026-07), IIP-electricity was 10.0% YoY (2026-06), and core electricity output rose 9.0% YoY (2026-07). Sector-specific FPI flows are mildly positive at INR 148 crore over 3 months to 2026-08-31, adding to the supportive fundamental case.

Confidence

73%

View full sector analysis →

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 61.9%
Company has a good return on equity (ROE) track record: 3 Years ROE 51.0%
Operating margins have improved to 15.7% from 1.0%
Company comfortably covers its interest (68.4x coverage)
Company generates healthy free cash flow

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.21x)
Working capital days have increased from 96 to 233 days
Debtor days have increased from 54 to 79

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

UtilitiesBusiness ServicesEnvironmental Services

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	WABAG	2276.90	36.03	14228.71	0.22	90.10	36.93	886.80	20.82	21.22	9.59
2.	IONEXCHANG	445.70	66.65	6536.93	0.28	3.06	-93.68	700.46	20.11	13.46	4.59
3.	REFEX	273.05	15.23	3747.03	0.55	64.55	216.87	916.30	139.09	24.06	11.67
4.	AWHCL	365.85	17.77	1038.36	0.14	0.75	-96.74	260.99	5.52	13.11	14.25
5.	ECORECO	441.45	36.02	865.10	0.23	9.17	13.35	16.19	75.22	32.61	56.27
6.	CEWATER	284.45	114.07	588.70	0.00	-17.57	-526.54	85.35	-16.65	6.86	-18.72
7.	APEXECO	272.50	21.11	359.30	0.00	—	—	—	—	37.53	—
8.	RACE	97.28	22.32	167.88	0.00	1.03	150.00	191.06	21.91	10.23	1.99
9.	BANKA	81.78	251.29	89.71	0.00	-0.04	-295.00	10.55	-5.29	-8.20	17.27

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

No quarterly results found

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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	20	35	53	71
	20	30	44	60
Operating Profit	-0	4	9	11
OPM %	-1.61%	12.40%	16.81%	15.71%
	1	0	0	1
Interest	0	0	0	0
Depreciation	0	0	0	0
Profit before Tax	-1	4	9	11
Tax %	-26.61%	15.37%	26.15%	24.81%
Net Profit	-1	4	7	9
EPS	-7.21	38.54	68.45	6.49
Dividend Payout %	0.00%	0.00%	0.00%	0.00%

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 54%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 110%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 51%
Last Year:: 28%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	1	1	1	13
	3	6	14	33
	1	1	0	0
Trade Payables	2	3	4	4
	3	7	7	10
Total Liabilities	10	18	25	59
	2	1	1	1
	2	3	2	2
	0	0	9	22
Cash & Bank	1	4	10	28
	6	9	4	6
Total Assets	10	18	25	59

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	0	4	7	-14
Cash from Investing	3	-1	-0	0
Cash from Financing	-3	-1	1	23
	-0	2	7	9

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Mar 2025	Sep 2025	Mar 2026
	69.29	69.29	69.29
	0.01	0.00	0.00
	6.08	6.52	8.39
Government	0.00	0.00	0.00
	24.62	24.19	22.33

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for APEXECO

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Apex Ecotech Ltd.

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Name

WABAG

2276.90

36.03

14228.71

0.22

90.10

36.93

886.80

20.82

21.22

9.59

IONEXCHANG

445.70

66.65

6536.93

0.28

3.06

-93.68

700.46

20.11

13.46

4.59

REFEX

273.05

15.23

3747.03

0.55

64.55

216.87

916.30

139.09

24.06

11.67

AWHCL

365.85

17.77

1038.36

0.14

0.75

-96.74

260.99

5.52

13.11

14.25

ECORECO

441.45

36.02

865.10

0.23

9.17

13.35

16.19

75.22

32.61

56.27

CEWATER

284.45

114.07

588.70

0.00

-17.57

-526.54

85.35

-16.65

6.86

-18.72

APEXECO

272.50

21.11

359.30

0.00

—

37.53

—

RACE

97.28

22.32

167.88

0.00

1.03

150.00

191.06

21.91

10.23

1.99

BANKA

81.78

251.29

89.71

0.00

-0.04

-295.00

10.55

-5.29

-8.20

17.27

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Operating Profit

-0

OPM %

-1.61%

12.40%

16.81%

15.71%

Interest

Depreciation

Profit before Tax

-1

Tax %

-26.61%

15.37%

26.15%

24.81%

Net Profit

-1

EPS

-7.21

38.54

68.45

6.49

Dividend Payout %

0.00%

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

Trade Payables

Total Liabilities

Cash & Bank

Total Assets

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-14

Cash from Investing

-1

-0

Cash from Financing

-3

-1

-0

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Sep 2025

Mar 2026

69.29

0.01

0.00

6.08

6.52

8.39

Government

0.00

24.62

24.19

22.33

Apex Ecotech Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Apex Ecotech Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI