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 ₹ 36,143 Cr.
- Current Price ₹ 8,998
- High / Low ₹ 11,797 / 4,270
- Stock P/E 44.0
- Book Value ₹ 1,121
- Dividend Yield 0.56 %
- 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
- Stock is trading at 7.93 times its book value
- 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
Industrials Capital Goods Electrical Equipment Other Electrical Equipment
Part of BSE 500 BSE Capital Goods Nifty 500 BSE SmallCap BSE Allcap
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: | 97% |
3 Years: | 106% |
1 Year: | 15% |
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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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
21 Jul - Of schedule of analysts and investors to the conference call to be made on Q1-FY26 Results on Tuesday, July 29, 2025.
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Board Meeting Intimation for Intimation Of Board Meeting
16 Jul - Board meeting on July 29 to approve Q1 FY2025-26 unaudited financial results.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
14 Jul - Submission of Certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the Quarter ended June 30, 2025
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Announcement under Regulation 30 (LODR)-Newspaper Publication
10 Jul - Submission of publication of advertisement regarding 36th Annual General Meeting (AGM) of APAR Industries Limited (the Company) in the newspapers (Post-dispatch)
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Business Responsibility and Sustainability Reporting (BRSR)
9 Jul - APAR files FY 2024-25 Business Responsibility & Sustainability Report; AGM on August 5, 2025 announced.
Annual reports
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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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Concalls
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Business Segments [1]
1) Conductors (48% in FY25 vs 48% in FY24): It is the world’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]