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Apar Industries Ltd

₹ 7,478-2.27%
14 Jan – close price
🔗apar.com•BSE: 532259•NSE: APARINDS
Market Cap₹ 30,038 Cr.
Current Price₹ 7,478
High / Low₹ 10,442
Stock P/E32.2
Book Value₹ 1,153
Dividend Yield0.68 %
ROCE33.3 %
ROE19.8 %
Face Value₹ 10.0
Sales₹ 19,834 Cr.
OPM8.52 %
Mar Cap₹ 30,038 Cr.

ABOUT

Apar, founded by Mr. Dharmsinh D. Desai in 1958, is a market leader in India with a global presence. Contributing to India’s process of electrification it started from manufacturing power transmission cables to having three broad business segments, which are Conductors, Transformer and specialty oils (TSO), and Power/telecom Cables.[1][2]

KEY POINTS

Business Segments[1]1) Conductors (48% in FY25 vs 48% in FY24):It is theworld’s largest manufacturer of conductors, offering a full range of conventional and new-generation specialty conductors. It has expanded its product portfolio from traditional conductors to innovative solutions like High Efficiency Conductors & High Temperature Low Sag Conductors, Various types of Aluminium & Aluminium Alloy Rods & Wires, various Copper products such as Busbars, Rods and Strips.[2][3]It also provides turnkey solutions for the power transmission and distribution (T&D) segment, having completed 165 projects and 45 transmission and distribution lines.[4]

Also present in buckets:
Excellent ResultsRevenue GuidanceAsset Base ExpansionCapacity Expansion And ProductsOrder Book PositionLarge Order ReceiptsCredit Rating UpdatesRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Waaree Energies2560.0027.2573636.070.08878.21132.976065.6469.7034.9417952.6922.552702.29842.556.4112.400.26
2.Premier Energies728.4027.6332996.110.14353.4471.611836.8720.2841.126991.7730.771194.26353.449.5517.900.47
3.Apar Inds.7478.0032.2330037.870.68253.8742.805462.9326.5933.3119834.158.52932.07253.876.497.990.14
4.Emmvee Photovol.218.3528.3415117.350.00263.64165.771152.25118.1128.012335.6130.91368.94263.6415.8012.122.15
5.Waaree Renewab.972.7024.1710149.720.10120.20124.67851.06136.1882.312705.6120.72419.88120.2215.4225.060.12
6.Genus Power275.5517.738382.720.89148.15162.441149.00135.9919.213632.3921.18472.85148.154.478.430.93
7.Vikram Solar227.0831.538227.790.00128.491645.791109.9193.7226.453423.4514.37139.83128.492.785.160.09
–Median: 57 Co.216.8527.99671.970.09.4153.91115.2624.4820.37350.8512.8424.659.414.268.430.32

Quarterly Results

Standalone figures in ₹ crores

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
2,9113,6243,8063,5003,6443,7424,2263,7474,3164,5104,9814,8815,463
Expenses
2,6833,3063,4053,1693,2943,3613,8083,3893,9874,1634,5354,4435,004
Operating Profit
227318401331350381417357329346446438459
Other Income
1381216212330183536162724
Profit before tax
150214314258248271322262239239332347342
Tax %
25%26%25%25%25%24%26%25%26%26%27%26%26%
Net Profit
112158235193186206238196178176244258254
EPS in Rs
29.1741.2561.3650.5348.5051.2459.3648.6944.2643.8360.8164.1963.20

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
4,4744,9985,0244,7765,5167,5867,0605,9618,59213,15315,10917,55219,834
Expenses
4,1934,7454,6494,3395,1047,0996,5715,5658,06411,96913,59016,04218,145
Operating Profit
2812533754364124874893955281,1831,5191,5111,689
Other Income
5810151115522374188104102
Interest
155162175129152214244148163323405423398
Depreciation
27313843506079858792103119134
Profit before tax
104681732792212281721853168101,0991,0731,260
Net Profit
6948116182144147139137234603823794932
EPS in Rs
17.8812.4330.0547.6437.6438.4436.3235.7561.04157.48204.96197.59232.03
Dividend Payout %
29%28%22%21%25%25%26%27%25%25%25%26%–

Compounded Sales Growth

10 Years:13%
5 Years:20%
3 Years:27%
TTM:24%

Compounded Profit Growth

10 Years:32%
5 Years:42%
3 Years:51%
TTM:14%

Stock Price CAGR

10 Years:32%
5 Years:81%
3 Years:64%
1 Year:-26%

Return on Equity

10 Years:21%
5 Years:23%
3 Years:25%
Last Year:20%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
38383838383838383838404040
Reserves
5685987229109811,0871,0511,2581,5472,0213,6564,2524,589
Borrowings
792494361246304194256246293325421540659
Other Liabilities
1,5261,7181,6562,0362,6763,3642,9693,1134,2785,2204,8735,9405,444
Total Liabilities
2,9252,8492,7773,2303,9994,6834,3144,6566,1567,6058,99010,77110,733
Fixed Assets
3383733984685446047427337327931,0431,4011,414
Gross Block
539.56600.97435.28540.70662.38774.11986.591,058.331,133.571,276.251,617.102,071.55–
Accumulated Depreciation
201.82228.3437.6773.11118.20170.50244.15325.21401.33483.08573.67670.96–
CWIP
18921281910355293799122125356
Investments
3031110119018706232561021624
Other Assets
2,5392,4362,2492,6163,4353,7893,5163,8325,3556,6577,8149,0308,939
Total Assets
2,9252,8492,7773,2303,9994,6834,3144,6566,1567,6058,99010,77110,733

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
-612227401310204630105226218577-2351,238
Cash from Investing Activity
-12-47-173-1100-38155-117-77-251-263-700
Cash from Financing Activity
-181-369-176-193-65-288-202-68-82-161650-457
Net Cash Flow
-805-189527139-40-41425916515181

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
8590789411110093110103839082
Inventory Days
103857297987485120109898383
Days Payable
142143131177208190182234211175138139
Cash Conversion Cycle
473319141-16-4-41-33527
Working Capital Days
420421227142829205241
ROCE %
17%18%31%35%29%33%31%23%28%53%46%33%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
60.64%60.64%60.64%60.64%57.77%57.77%57.77%57.77%57.77%57.77%57.77%57.77%
FIIs
6.73%6.66%7.47%9.09%10.98%11.55%11.51%10.97%10.22%9.87%9.06%9.24%
DIIs
17.53%17.95%17.97%17.06%18.62%18.90%19.73%20.41%21.24%20.63%21.79%22.64%
Public
15.10%14.75%13.92%13.23%12.63%11.78%11.00%10.85%10.77%11.73%11.38%10.35%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

APAR Industries to close trading window from April 1, 2026

27th March 2026, 9:09 pm

APAR Industries Approves USD 5 Million Investment in US Subsidiary and Rs 10.76 Crore for Hybrid Power Project

18th March 2026, 8:40 pm

APAR Industries Approves Investment in US Subsidiary and Renewable Energy Project

18th March 2026, 8:32 pm

APAR Industries Appoints New Independent Director Following Postal Ballot Approval

16th March 2026, 10:55 pm

APAR Industries Shareholders Approve Appointment of Independent Director

16th March 2026, 10:43 pm

Published by Other Websites

External media mentions & references

Motilal Oswal Funds Deliver 25% CAGR, Turn ₹1 Lakh to ₹3 Lakh

16th April 2026, 6:22 am

CleanMax Commissions 185MW Gujarat Hybrid Plant, Eyes ₹165 Cr Revenue

7th April 2026, 10:24 pm

CleanMax Commissions 185 MW Gujarat Project, Eyes ₹165 Cr Revenue

7th April 2026, 10:20 pm

Nippon India Fund's Patient Strategy Delivers Extraordinary Returns

25th March 2026, 5:11 pm

Apar Industries Gets 'Accumulate' Rating, Rs 9629 Target by Prabhudas Lilladher

17th March 2026, 11:55 am

News Articles

Editorial & research coverage

India-US Trade Deal Sparks Rally, But Froth & Sector Disparities Emerge
India-US Trade Deal Sparks Rally, But Froth & Sector Disparities Emerge

3rd February 2026, 4:32 pm

Apar Industries Climbs Post-Earnings, Valuation Questions Linger
Apar Industries Climbs Post-Earnings, Valuation Questions Linger

29th January 2026, 2:31 pm

Apar Industries Stock: Price Target Holds Firm at ₹9,744 as Prabhudas Lilladher Issues 'HOLD' Rating!
Apar Industries Stock: Price Target Holds Firm at ₹9,744 as Prabhudas Lilladher Issues 'HOLD' Rating!

29th December 2025, 12:19 pm

Antique Stock Broking Initiates BUY on Apar Industries: Rs 10,740 Target Set, 20% Upside Predicted on Global Power Boom!
Antique Stock Broking Initiates BUY on Apar Industries: Rs 10,740 Target Set, 20% Upside Predicted on Global Power Boom!

17th December 2025, 8:16 am

Midcap Mania! India's Midcap Index Hits Record High Amidst IT Surge & Stellar Earnings!
Midcap Mania! India's Midcap Index Hits Record High Amidst IT Surge & Stellar Earnings!

12th November 2025, 12:50 pm

Documents

Announcements

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

12 Jan - Submission of Certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the Quarter ended December 31, 2025

Board Meeting Intimation for Un-Audited Financial Results Of The Company, On Standalone As Well As On Consolidated Basis, For The Third Quarter And Nine Months' Period Ended December 31, 2025 Of The Current Financial Year 2025-26.

2 Jan - Board meeting on Jan 29, 2026 to approve Q3 and nine-month unaudited results; trading window closed till Jan 31, 2026.

Closure of Trading Window
Announcement under Regulation 30 (LODR)-Change in Management

15 Dec 2025 - Shashi Amin resigned as Chief Executive Officer – Cable Solutions, effective close of business December 12, 2025.

Announcement under Regulation 30 (LODR)-Change in Management

12 Dec 2025 - Resignation of Shashi Amin, CEO–Cable Solutions, effective close of business December 12, 2025.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2012

(from nse)

Financial Year 2012

(from bse)

Credit Ratings

Rating update

5 Aug 2025 from care

Rating update

31 Jan 2025 from icra

Rating update

4 Sep 2024 from care

Rating update

20 May 2024 from icra

Rating update

22 Sep 2023 from care

Rating update

22 Mar 2023 from icra

Concalls

Nov 2025

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Stock Analysis

Description

  1. Apar Industries, established in 1958, is a leading Indian manufacturer with a global presence, focusing on power transmission, specialty oils, and power/telecom cables. It is recognized as the world's largest conductor manufacturer, offering a comprehensive range of conventional and new-generation specialty conductors.

Key Growth Triggers

  1. Strong domestic demand across segments, particularly in power transmission and distribution.
  2. Significant export growth, with a notable contribution from the US market.
  3. Expansion opportunities in renewable energy and telecom sectors.
  4. Strategic diversification into 'Dark fiber Monetisation' through a 15-year PPP agreement with KPTCL.

Order Book

  1. Currently no data available for Order Book.

Key Red Flags

  1. Potential near-term challenges from US Section 232 tariffs on aluminum, copper, and steel.
  2. Volatility in global metal prices affecting input costs and order inflow.

Key Dates To Watch

  1. Board Meeting scheduled for January 29, 2026, to approve Q3 and nine-month FY26 financial results.

Corporate Announcements

27th Mar 26
Impact Rating: 4
APAR Industries Limited will close its trading window from April 1, 2026. It will reopen 48 hours after the company declares its Q4 and FY26 audited financial results.
18th Mar 26
Impact Rating: 9
APAR Industries' board approved a USD 5 million capital contribution for its US subsidiary, APAR USA LLC, and Rs 10.76 crore for wind and solar hybrid power generation facilities with associate Clean Max Rudra Private Limited.
18th Mar 26
Impact Rating: 7
APAR Industries' board has approved investing up to USD 5 million in its wholly-owned US subsidiary, APAR USA LLC, and up to ₹10.76 crore in associate Clean Max Rudra Private Limited for new renewable energy projects.
16th Mar 26
Impact Rating: 5
The postal ballot results for APAR Industries Limited show overwhelming support for appointing Mr. Pitamber Shivnani as an Independent Director. The resolution passed on March 14, 2026.
16th Mar 26
Impact Rating: 7
APAR Industries Limited shareholders have strongly supported the appointment of Mr. Pitamber Shivnani as an Independent Director (Non-Executive), with the resolution passing with 99.95% of votes cast in favour during the recent postal ballot.