Apar Industries Ltd
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]
- Market Cap ₹ 31,239 Cr.
- Current Price ₹ 7,777
- High / Low ₹ 11,797 / 4,270
- Stock P/E 38.0
- Book Value ₹ 1,121
- Dividend Yield 0.67 %
- ROCE 32.1 %
- ROE 19.6 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 43.5% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 24.6%
Cons
- Company's cost of borrowing seems high
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Capital Goods - Electrical Equipment Industry: Electric Equipment
Part of BSE 500 Nifty 500 BSE SmallCap BSE Allcap BSE Industrials
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
4,628 | 5,108 | 5,078 | 4,832 | 5,818 | 7,964 | 7,425 | 6,388 | 9,317 | 14,336 | 16,153 | 18,581 | |
4,321 | 4,843 | 4,698 | 4,398 | 5,393 | 7,472 | 6,930 | 5,948 | 8,739 | 13,069 | 14,585 | 17,034 | |
Operating Profit | 307 | 264 | 380 | 434 | 426 | 491 | 495 | 440 | 578 | 1,267 | 1,568 | 1,547 |
OPM % | 7% | 5% | 7% | 9% | 7% | 6% | 7% | 7% | 6% | 9% | 10% | 8% |
4 | 1 | 10 | 15 | 11 | 15 | 15 | 19 | 33 | 36 | 86 | 99 | |
Interest | 155 | 162 | 175 | 131 | 158 | 223 | 254 | 157 | 171 | 344 | 432 | 409 |
Depreciation | 27 | 31 | 38 | 45 | 56 | 67 | 87 | 93 | 98 | 104 | 116 | 132 |
Profit before tax | 129 | 72 | 178 | 273 | 223 | 216 | 169 | 208 | 342 | 855 | 1,106 | 1,106 |
Tax % | 30% | 32% | 32% | 36% | 35% | 37% | 20% | 23% | 25% | 25% | 25% | 26% |
90 | 49 | 122 | 177 | 145 | 136 | 135 | 160 | 257 | 638 | 825 | 821 | |
EPS in Rs | 23.37 | 12.86 | 31.61 | 46.14 | 37.82 | 35.55 | 35.32 | 41.94 | 67.09 | 166.64 | 205.41 | 204.46 |
Dividend Payout % | 22% | 27% | 21% | 22% | 25% | 27% | 27% | 23% | 22% | 24% | 25% | 25% |
Compounded Sales Growth | |
---|---|
10 Years: | 14% |
5 Years: | 20% |
3 Years: | 26% |
TTM: | 15% |
Compounded Profit Growth | |
---|---|
10 Years: | 33% |
5 Years: | 44% |
3 Years: | 48% |
TTM: | 0% |
Stock Price CAGR | |
---|---|
10 Years: | 37% |
5 Years: | 92% |
3 Years: | 131% |
1 Year: | -3% |
Return on Equity | |
---|---|
10 Years: | 20% |
5 Years: | 22% |
3 Years: | 25% |
Last Year: | 20% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 40 | 40 |
Reserves | 658 | 691 | 815 | 998 | 1,070 | 1,164 | 1,128 | 1,361 | 1,677 | 2,198 | 3,836 | 4,463 |
792 | 494 | 384 | 305 | 363 | 253 | 372 | 325 | 359 | 376 | 476 | 585 | |
1,510 | 1,732 | 1,680 | 2,107 | 2,805 | 3,501 | 3,116 | 3,275 | 4,533 | 5,605 | 5,264 | 6,175 | |
Total Liabilities | 2,998 | 2,956 | 2,919 | 3,448 | 4,276 | 4,957 | 4,654 | 4,999 | 6,608 | 8,218 | 9,616 | 11,264 |
359 | 395 | 398 | 574 | 649 | 709 | 885 | 878 | 881 | 950 | 1,193 | 1,543 | |
CWIP | 18 | 10 | 56 | 28 | 20 | 103 | 55 | 29 | 38 | 99 | 122 | 128 |
Investments | 2 | 5 | 112 | 119 | 0 | 187 | 0 | 60 | 31 | 54 | 11 | 219 |
2,620 | 2,546 | 2,352 | 2,728 | 3,608 | 3,958 | 3,714 | 4,032 | 5,657 | 7,114 | 8,290 | 9,373 | |
Total Assets | 2,998 | 2,956 | 2,919 | 3,448 | 4,276 | 4,957 | 4,654 | 4,999 | 6,608 | 8,218 | 9,616 | 11,264 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-632 | 298 | 412 | 312 | 225 | 632 | 94 | 281 | 244 | 698 | -283 | 1,291 | |
-12 | -59 | -223 | -166 | -5 | -388 | 45 | -115 | -91 | -267 | -267 | -705 | |
-181 | -369 | -153 | -157 | -69 | -293 | -189 | -123 | -106 | -186 | 635 | -483 | |
Net Cash Flow | -824 | -130 | 36 | -11 | 151 | -49 | -49 | 43 | 46 | 246 | 85 | 103 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 87 | 91 | 78 | 95 | 109 | 98 | 93 | 106 | 99 | 81 | 89 | 80 |
Inventory Days | 101 | 84 | 72 | 102 | 98 | 74 | 85 | 119 | 108 | 85 | 83 | 82 |
Days Payable | 136 | 141 | 130 | 181 | 207 | 188 | 182 | 231 | 207 | 172 | 140 | 137 |
Cash Conversion Cycle | 52 | 34 | 20 | 15 | 0 | -16 | -4 | -6 | 1 | -5 | 32 | 25 |
Working Capital Days | 67 | 49 | 24 | 36 | 32 | 10 | 18 | 30 | 31 | 22 | 52 | 47 |
ROCE % | 18% | 17% | 28% | 31% | 27% | 30% | 28% | 22% | 27% | 51% | 44% | 32% |
Documents
Announcements
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Compliances-Reg.24(A)-Annual Secretarial Compliance
1d - Annual Secretarial Compliance Report for FY 2024-25 submitted; no violations or penalties reported.
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Outcome Of Board Meeting - Change In Designation And Appointment Of Mr. Rishabh Kushal Desai (DIN : 08444660) Non-Independent Director (Non-Executive) As A Whole Time Director Of The Company.
1d - Appointment of Rishabh K. Desai as Whole Time Director; confirmed no SEBI debarment.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
1d - Submission of Transcript of Investors Earnings Call on Audited Financial Results (Standalone & Consolidated) for Q4 and Financial Year Ended March 31, 2025 (2024-25).
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Announcement under Regulation 30 (LODR)-Newspaper Publication
15 May - Publication of QR Code and Extract of Audited Financial Results for the Fourth Quarter and Financial Year ended March 31, 2025 in Newspapers.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
14 May - Audio recording of Q4FY25 earnings call made available on company website.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Concalls
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May 2025Transcript PPT REC
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Dec 2016Transcript PPT
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Nov 2016TranscriptNotesPPT
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Aug 2016TranscriptPPT
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Leadership[1]
- 1 Largest global aluminium & alloy conductors’ manufacturer
** - 3rd Largest global manufacturer of Transformer oils
** - 1 Cables manufacturer for renewables in India