Apar Industries Ltd

Apar Industries is one among the best established companies in India, operating in the diverse fields of electrical and metallurgical engineering.(Source : 201903 Annual Report Page No: 84)

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.
Company's cost of borrowing seems high

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

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
1,264 1,133 1,297 1,236 1,176 1,408 1,695 1,405 1,805 2,002 2,374 1,868
1,164 1,026 1,193 1,143 1,089 1,312 1,577 1,300 1,702 1,882 2,237 1,734
Operating Profit 100 106 104 94 87 96 118 104 104 120 137 134
OPM % 8% 9% 8% 8% 7% 7% 7% 7% 6% 6% 6% 7%
Other Income 4 2 6 2 3 3 3 4 3 3 4 4
Interest 25 31 23 23 35 24 52 52 51 39 49 55
Depreciation 10 11 12 12 12 12 13 14 15 15 16 18
Profit before tax 70 66 74 61 42 63 55 42 42 68 75 65
Tax % 34% 34% 36% 35% 35% 35% 36% 36% 36% 36% 35% 35%
Net Profit 46 43 48 40 28 41 36 27 27 44 49 42
EPS in Rs 11.86 11.25 12.42 10.44 7.19 10.73 9.29 7.14 7.00 11.52 12.77 11.01
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 TTM
1,694 2,433 1,977 2,718 3,448 4,525 4,474 4,998 5,024 4,776 5,516 7,586 8,049
1,588 2,394 1,846 2,512 3,246 4,223 4,194 4,745 4,649 4,340 5,104 7,099 7,554
Operating Profit 106 39 131 206 202 302 280 253 375 436 412 487 495
OPM % 6% 2% 7% 8% 6% 7% 6% 5% 7% 9% 7% 6% 6%
Other Income 70 74 5 -0 47 4 5 8 10 16 11 15 14
Interest 59 93 75 33 168 142 155 162 175 129 152 214 195
Depreciation 14 11 12 14 21 24 27 31 38 43 50 60 64
Profit before tax 103 8 49 159 60 140 104 68 173 279 221 228 251
Tax % 17% 37% 38% 34% 0% 27% 34% 30% 33% 35% 35% 35%
Net Profit 85 5 31 106 59 102 69 48 116 182 144 147 162
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 42.30
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:41.61%
Compounded Profit Growth
10 Years:37.02%
5 Years:16.36%
3 Years:7.86%
TTM:23.16%
Stock Price CAGR
10 Years:11.19%
5 Years:6.12%
3 Years:-3.41%
1 Year:-11.74%
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