Apar Industries Ltd

Apar Industries Limited (Apar) is engaged in the business of manufacture of conductors, transformer/specialty oils and power/telecom cables. The Company's segments are Conductor, Transformer/Speciality Oils, Power/Telecom Cables, and Others.

Pros:
Company has reduced debt.
Company is expected to give good quarter
Company has been maintaining a healthy dividend payout of 23.65%
Cons:
The company has delivered a poor growth of 11.14% over past five years.

Peer Comparison Sector: Capital Goods - Electrical Equipment // Industry: Electric Equipment

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
1,082 1,264 1,133 1,297 1,236 1,176 1,408 1,695 1,405 1,805 2,002 2,374
972 1,164 1,026 1,193 1,143 1,089 1,312 1,577 1,300 1,702 1,882 2,237
Operating Profit 110 100 106 104 94 87 96 118 104 104 120 137
OPM % 10% 8% 9% 8% 8% 7% 7% 7% 7% 6% 6% 6%
Other Income 4 4 2 6 2 3 3 3 4 3 3 4
Interest 35 25 31 23 23 35 24 52 52 51 39 49
Depreciation 10 10 11 12 12 12 12 13 14 15 15 16
Profit before tax 69 70 66 74 61 42 63 55 42 42 68 75
Tax % 34% 34% 34% 36% 35% 35% 35% 36% 36% 36% 36% 35%
Net Profit 46 46 43 48 40 28 41 36 27 27 44 49
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
1,694 2,433 1,977 2,718 3,448 4,525 4,474 4,998 5,024 4,776 5,516 7,586
1,588 2,394 1,846 2,512 3,246 4,223 4,194 4,745 4,649 4,340 5,104 7,099
Operating Profit 106 39 131 206 202 302 280 253 375 436 412 487
OPM % 6% 2% 7% 8% 6% 7% 6% 5% 7% 9% 7% 6%
Other Income 70 74 5 -0 47 4 5 8 10 16 11 15
Interest 59 93 75 33 168 142 155 162 175 129 152 214
Depreciation 14 11 12 14 21 24 27 31 38 43 50 60
Profit before tax 103 8 49 159 60 140 104 68 173 279 221 228
Tax % 17% 37% 38% 34% 0% 27% 34% 30% 33% 35% 35% 35%
Net Profit 85 5 31 106 59 102 69 48 116 182 144 147
EPS in Rs 25.49 1.64 8.63 31.67 15.79 25.66 16.99 12.06 30.05 47.64 37.64 38.43
Dividend Payout % 21% 0% 53% 18% 24% 20% 29% 28% 22% 21% 25% 25%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:12.05%
5 Years:11.14%
3 Years:14.72%
TTM:37.54%
Compounded Profit Growth
10 Years:37.02%
5 Years:16.36%
3 Years:7.86%
TTM:1.32%
Return on Equity
10 Years:16.16%
5 Years:14.72%
3 Years:15.85%
Last Year:13.33%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
32 32 32 32 38 38 38 38 38 38 38 38
Reserves 244 249 261 342 432 522 568 598 722 910 981 1,087
Borrowings 89 77 88 565 977 984 792 494 361 246 304 194
1,059 1,396 1,206 975 1,333 1,672 1,526 1,718 1,666 2,048 2,693 3,446
Total Liabilities 1,424 1,754 1,587 1,915 2,778 3,216 2,925 2,849 2,788 3,242 4,016 4,765
107 119 120 122 182 242 338 373 398 468 544 604
CWIP 3 5 1 2 22 45 18 9 21 28 19 103
Investments 41 88 32 32 6 108 30 31 110 119 0 187
1,273 1,543 1,434 1,759 2,569 2,820 2,539 2,436 2,260 2,628 3,453 3,871
Total Assets 1,424 1,754 1,587 1,915 2,778 3,216 2,925 2,849 2,788 3,242 4,016 4,765

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
474 233 -50 -41 19 415 -612 227 401 310 204 630
37 -17 -38 -18 -43 -202 -12 -47 -173 -110 0 -381
-102 -102 -42 -27 455 -5 -181 -369 -176 -193 -65 -288
Net Cash Flow 408 114 -130 -86 430 207 -805 -189 52 7 139 -40

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 36% 28% 49% 29% 19% 19% 17% 18% 31% 35% 29% 33%
Debtor Days 84 71 70 85 88 64 85 90 78 94 111 100
Inventory Turnover 6.55 8.61 5.85 6.75 6.31 6.43 5.11 5.15 5.93 5.61 5.31 6.42