---
title: "Apex Ecotech Ltd (APEXECO) — Share Price, Financials & Analysis"
symbol: "APEXECO"
company: "Apex Ecotech Ltd"
canonical: "https://tapetide.com/stocks/APEXECO"
isin: "INE0T4V01015"
nse_symbol: "APEXECO"
sector: "Utilities"
industry: "Water Supply & Management"
market_cap_cr: 368.79
generated_at: "2026-09-13T19:33:17.217Z"
---

# Apex Ecotech Ltd (APEXECO)

Canonical page: https://tapetide.com/stocks/APEXECO

## Company

- **NSE Symbol:** APEXECO
- **ISIN:** INE0T4V01015
- **Sector:** Utilities
- **Industry:** Water Supply & Management
- **Macro Sector:** Utilities
- **Stock Type:** EQUITY
- **Listed Since:** 2024-12-04
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** apexecotech.com

## About

Incorporated in 2009, Apex Ecotech Ltd specializes in turnkey water and wastewater treatment projects[1]

## Latest Price

- **Price:** ₹272.5
- **Change:** -10.65 (-3.76%)
- **Open:** ₹280.25
- **Day High:** ₹280.25
- **Day Low:** ₹270.35
- **Previous Close:** ₹283.15
- **Volume:** 10400
- **As Of:** 2026-09-11T10:01:44+00:00

## Key Fundamentals

Observed at 2026-09-11T04:40:52.331042Z.

- **Market Cap:** ₹368.79 Cr
- **Classification:** SME
- **P/E (reported):** 21.9
- **Book Value:** ₹47.98
- **Price to Book:** 5.9
- **Dividend Yield:** 0%
- **ROE:** 26.91%
- **ROCE:** 35.1%
- **Debt to Equity:** 0.02
- **Revenue (yearly):** ₹149.9 Cr
- **Net Income:** ₹17 Cr
- **EBITDA:** ₹23 Cr
- **52-Week High:** ₹297.15
- **52-Week Low:** ₹102.05
- **RSI (14):** 61.28

## Tapetide Score

- **Score:** 62 / 100
- **Score date:** 2026-09-04
- **Archetype:** Priced for Perfection
- **What it means:** The business scores well but the multiple leaves little room for error. The debate here is about the price, not the company; small disappointments tend to cost more at rich valuations.
- **Pillar profile:** Quality: Good · Valuation: Expensive · Momentum: Rising
- **Percentile:** 92.5 (of 4473 scored stocks)
- **Confidence:** 88%
- **Data coverage:** 76%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 86.25 | 9% |
| growth | 98.9 | 9% |
| momentum | 98.85 | 12% |
| ownership | 50 | 24% |
| quality | 78.52 | 22% |
| valuation | 46.61 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company is almost debt free.
- Company has delivered good profit growth of 64.9% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 33.5%
- Debtor days have improved from 53.4 to 41.2 days.

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | 229.2% | 1.2% | — |
| ebitda margin growth | -5.82% | -11.31% | — |
| net income growth | 97.67% | 69% | 65% |
| revenue growth | 109.36% | 63% | 66% |
| roce | 43.15% | -40.4% | 33.3% |
| roe | 45.3% | 30.14% | -251.35% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Sales | 22 | 49 | 33 | 116 |
| Expenses | 20 | 40 | 30 | 97 |
| Operating Profit | 2 | 9 | 3 | 19 |
| OPM % | 10 | 18 | 9 | 16 |
| Other Income | 0 | 0 | 1 | 1 |
| Interest | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 |
| Profit before tax | 2 | 9 | 3 | 19 |
| Tax % | 26 | 25 | 25 | 25 |
| Net Profit | 2 | 7 | 3 | 14 |
| EPS in Rs | 1.6 | 5.32 | 1.96 | 10.96 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 17 | 31 | 44 | 12 | 20 | 35 | 53 | 71 | 149 |
| Expenses | 16 | 29 | 39 | 13 | 20 | 30 | 44 | 60 | 127 |
| Operating Profit | 2 | 2 | 5 | -1 | 0 | 4 | 9 | 11 | 22 |
| OPM % | 9 | 6 | 12 | -10 | -1.6 | 12 | 17 | 16 | 15 |
| Other Income | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 1 |
| Interest | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 1 | 1 | 4 | -2 | -1 | 4 | 9 | 11 | 23 |
| Tax % | 31 | 30 | 31 | -1 | 27 | 15 | 26 | 25 | 25 |
| Net Profit | 0 | 1 | 3 | -2 | -1 | 4 | 7 | 9 | 17 |
| EPS in Rs | 4.6 | 7.99 | 29.23 | -18.06 | -7.22 | 38.53 | 68.45 | 6.49 | 12.91 |
| Dividend Payout % | 0 | 0 | 19 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.91 | 0.91 | 0.91 | 0.91 | 0.91 | 0.91 | 0.97 | 13 | 13 |
| Reserves | 2 | 3 | 5 | 3 | 3 | 6 | 14 | 33 | 50 |
| Borrowings | 4 | 6 | 1 | 4 | 1 | 1 | 0 | 0 | 1 |
| Other Liabilities | 9 | 9 | 11 | 5 | 5 | 10 | 10 | 13 | 25 |
| Total Liabilities | 17 | 19 | 19 | 14 | 10 | 18 | 26 | 60 | 89 |
| Fixed Assets | 3 | 4 | 4 | 4 | 2 | 1 | 1 | 1 | 2 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 13 | 15 | 15 | 9 | 8 | 16 | 24 | 59 | 86 |
| Total Assets | 17 | 19 | 19 | 14 | 10 | 18 | 26 | 60 | 89 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | — | — | 5 | -1 | 0 | 3 | 7 | -5 | 7 |
| Cash from Investing Activity | — | — | 0 | -1 | 3 | 0 | 0 | -8 | -15 |
| Cash from Financing Activity | — | — | -6 | 2 | -3 | -1 | 1 | 23 | 1 |
| Net Cash Flow | — | — | -1 | 0 | 0 | 2 | 7 | 9 | -7 |
| Free Cash Flow | — | — | 5 | -2 | 3 | 3 | 7 | -5 | 5 |
| CFO/OP | — | — | 118 | 81 | 22 | 75 | 101 | -20 | 58 |

### Ratios

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 102 | 62 | 68 | 138 | 65 | 74 | 60 | 60 | 41 |
| Inventory Days | 168 | 70 | 32 | 147 | 52 | 54 | 18 | 18 | 14 |
| Days Payable | 165 | 75 | 113 | 202 | 58 | 43 | 38 | 26 | 22 |
| Cash Conversion Cycle | 105 | 57 | -13 | 83 | 60 | 86 | 40 | 51 | 34 |
| Working Capital Days | 67 | 58 | 23 | 17 | 57 | 45 | 26 | 89 | 65 |
| ROCE % | — | 23 | 57 | -16 | -8 | 69 | 79 | 38 | 41 |

## Shareholding Pattern

### Quarterly

| Category | Dec 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Promoters | 69.29% | 69.29% | 69.29% | 69.29% |
| FIIs | 0% | 0% | 0% | 0% |
| DIIs | 0.13% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% |
| Public | 14.46% | 19.45% | 19.21% | 17.29% |
| Others | 16.11% | 11.26% | 11.5% | 13.42% |
| No. of Shareholders | 1104 | 779 | 714 | 658 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 12 / 7 / 0

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 269.03 | Buy |
| EMA (10) | 271.72 | Buy |
| SMA (20) | 265.76 | Buy |
| EMA (20) | 268.26 | Buy |
| SMA (50) | 263.47 | Buy |
| EMA (50) | 257.15 | Buy |
| SMA (100) | 227.65 | Buy |
| EMA (100) | 231.09 | Buy |
| SMA (200) | 176.28 | Buy |
| EMA (200) | 195.64 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 53.73 | Neutral |
| MACD (12,26,9) | 3.88 | Buy |
| Stochastic (14,3,3) | 77.6 | Neutral |
| ADX (14) | 14.7 | Neutral |
| Williams %R (14) | -36.46 | Neutral |
| ATR (14) | 13.32 | High Volatility |
| ROC (12) | 12.49 | Buy |
| Stoch RSI (14) | 67.95 | Neutral |
| UO (7,14,28) | 65.33 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 April 2026 - Board approved ₹100 crore borrowing and investment limits, ESOP 2026, EGM on May 12, and director pay revisions. | [Outcome of Board Meeting 9 April 2026 - Board approved ₹100 crore borrowing and investment limits, ESOP 2026, EGM on May 12, and director pay revisions.](https://nsearchives.nseindia.com/corporate/APEXECO_09042026133133_Outcome_BM_09042026_Signed.pdf) |
| 8 Jul - Submitted Regulation 74(5) depository certificate for quarter ended June 30, 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 8 Jul - Submitted Regulation 74(5) depository certificate for quarter ended June 30, 2026.](https://nsearchives.nseindia.com/corporate/APEXECO_08072026140210_Intimation74_5_.pdf) |
| 8 Jul - Apex Ecotech says Regulation 27(2) corporate governance quarterly compliance report is not applicable to NSE Emerge SME listing. | [Quarterly Compliance Report on Corporate governance - within 21 days from the end of the quarter 8 Jul - Apex Ecotech says Regulation 27(2) corporate governance quarterly compliance report is not applicable to NSE Emerge SME listing.](https://nsearchives.nseindia.com/corporate/APEXECO_08072026162058_Non-applicabilityCG__1_.pdf) |
| 8 Jul - Apex Ecotech Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, … | [Disclosure under SEBI Takeover Regulations 8 Jul - Apex Ecotech Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, …](https://nsearchives.nseindia.com/corporate/team_bbodade_28042026182446_APEXECO.pdf) |
| 7 May 2026 - FY26 revenue rose 109.5% to ₹148.65 crore; PAT up 98.85%, order book above ₹125 crore. | [Press Release 7 May 2026 - FY26 revenue rose 109.5% to ₹148.65 crore; PAT up 98.85%, order book above ₹125 crore.](https://nsearchives.nseindia.com/corporate/APEXECO_07052026165615_Apex_Press_Release.pdf) |
| 7 May 2026 - Apex Ecotech schedules post-earnings investor call on 12 May 2026 at 4:00 PM for FY26 audited results. | [Analysts/Institutional Investor Meet/Con. Call Updates 7 May 2026 - Apex Ecotech schedules post-earnings investor call on 12 May 2026 at 4:00 PM for FY26 audited results.](https://nsearchives.nseindia.com/corporate/APEXECO_07052026180839_Apex_Post_Earnings_Final.pdf) |
| 7 February 2026 - Outcome of virtual analysts/investors meeting held Feb 6, 2026; no UPSI. | [Analysts/Institutional Investor Meet/Con. Call Updates 7 February 2026 - Outcome of virtual analysts/investors meeting held Feb 6, 2026; no UPSI.](https://nsearchives.nseindia.com/corporate/APEXECO_07022026124137_APEX_Outcome_Investor_Meeting_Signed.pdf) |
| 7 April 2026 - Regulation 74(5) certificate filed for quarter ended 31 March 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 7 April 2026 - Regulation 74(5) certificate filed for quarter ended 31 March 2026.](https://nsearchives.nseindia.com/corporate/APEXECO_07042026223844_Intimation_Reg_74_5_.pdf) |
| 6 May 2026 - Audited half-year and FY2026 results disclosed; Bharat Nayyar & Associates reappointed as auditor for FY2026-27. | [Outcome of Board Meeting 6 May 2026 - Audited half-year and FY2026 results disclosed; Bharat Nayyar & Associates reappointed as auditor for FY2026-27.](https://nsearchives.nseindia.com/corporate/APEXECO_06052026182523_Outcome_Apex_Final_Signed.pdf) |
| 6 March 2026 - Management meeting with investors/analysts virtually on 11 Mar 2026 at Arihant Capital Conclave. | [Analysts/Institutional Investor Meet/Con. Call Updates 6 March 2026 - Management meeting with investors/analysts virtually on 11 Mar 2026 at Arihant Capital Conclave.](https://nsearchives.nseindia.com/corporate/APEXECO_06032026144944_Investor_Meet_Prior_Intimation_Signed.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31172_APEXECO_2025_2026_A_3440960_02092026210624.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_27809_APEXECO_2024_2025_A_10243648_28082025160810.pdf) |
| from nse | [Financial Year 2013 from nse](https://archives.nseindia.com/annual_reports/AR_1534_SURYAJYOTI_2012_2013_10092013162355.zip) |
| from nse | [Financial Year 2011 from nse](https://archives.nseindia.com/annual_reports/AR_SURYAJYOTI_2010_2011_12092011052626.zip) |
| from nse | [Financial Year 2010 from nse](https://archives.nseindia.com/annual_reports/AR_SURYAJYOTI_2009_2010_13042011020402.zip) |
| from bse | [Financial Year 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/521022/5210220317.pdf) |
| from bse | [Financial Year 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/521022/5210220316.pdf) |
| from bse | [Financial Year 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/521022/5210220315.pdf) |
| from bse | [Financial Year 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/521022/5210220314.pdf) |
| from bse | [Financial Year 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/521022/5210220313.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2025 | [Concall - Nov 2025](https://nsearchives.nseindia.com/corporate/APEXECO_24112025183213_Intimation_Transcript_Signed.pdf) |
| May 2025 | [Concall - May 2025](https://nsearchives.nseindia.com/corporate/APEXECO_26052025181047_APEXINVESTORPRESENT.pdf) |
| May 2025 | [Concall - May 2025](https://nsearchives.nseindia.com/corporate/APEXECO_30052025125345_transcripintimationapex.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:33:17.217Z.