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 is expected to give good quarter
Company has been maintaining a healthy dividend payout of 22.45%
Cons:
The company has delivered a poor growth of 4.62% over past five years.

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

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018
1,094 1,284 1,148 1,306 1,304 1,248 1,499 1,768 1,496 1,885 2,119
983 1,183 1,041 1,208 1,209 1,159 1,401 1,642 1,386 1,776 2,005
Operating Profit 111 101 107 98 95 89 98 126 109 109 114
OPM % 10% 8% 9% 8% 7% 7% 7% 7% 7% 6% 5%
Other Income 4 4 2 6 2 3 3 3 4 3 3
Interest 35 25 31 24 24 37 26 54 54 53 42
Depreciation 10 11 11 13 13 14 14 15 16 16 17
Profit before tax 70 70 66 67 60 41 61 60 44 43 59
Tax % 34% 34% 35% 39% 35% 37% 35% 33% 34% 34% 41%
Net Profit 47 46 43 40 39 26 40 40 29 29 35
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
1,506 1,750 2,605 2,213 3,027 3,589 4,643 4,628 5,108 5,078 4,832 5,818 7,267
1,391 1,634 2,562 2,126 2,800 3,368 4,324 4,322 4,844 4,698 4,399 5,393 6,809
Operating Profit 114 116 43 87 227 221 319 306 264 380 433 426 458
OPM % 8% 7% 2% 4% 7% 6% 7% 7% 5% 7% 9% 7% 6%
Other Income 14 69 74 58 25 47 -1 4 2 10 16 11 14
Interest 54 62 104 87 78 170 144 155 162 175 131 158 202
Depreciation 10 14 15 19 21 22 24 27 31 38 45 56 64
Profit before tax 65 109 -1 40 154 77 150 129 72 178 273 223 206
Tax % 26% 17% -190% 56% 38% 3% 27% 30% 32% 32% 36% 35%
Net Profit 48 89 -5 24 95 73 109 90 50 122 177 145 132
EPS in Rs 13.76 26.54 0.00 6.73 28.41 19.61 27.56 22.48 12.46 31.61 46.14 37.82
Dividend Payout % 23% 20% -0% 66% 20% 20% 18% 22% 27% 21% 22% 25%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:12.77%
5 Years:4.62%
3 Years:4.44%
TTM:35.65%
Compounded Profit Growth
10 Years:8.69%
5 Years:4.86%
3 Years:42.25%
TTM:-8.56%
Return on Equity
10 Years:14.32%
5 Years:13.64%
3 Years:15.42%
Last Year:13.22%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Sep 2018
32 32 32 32 32 38 38 38 38 38 38 38 38
Reserves 184 252 248 251 319 485 588 658 691 815 998 1,070 1,088
Borrowings 133 101 161 162 601 993 984 792 494 384 305 363 382
615 1,072 1,461 1,265 1,017 1,326 1,658 1,518 1,740 1,689 2,118 2,814 3,107
Total Liabilities 965 1,458 1,902 1,710 1,970 2,840 3,269 3,006 2,964 2,927 3,458 4,285 4,614
135 107 227 179 178 185 263 359 395 398 574 649 661
CWIP 26 3 12 2 6 22 45 18 10 56 28 20 51
Investments 0 37 0 0 0 0 80 2 5 112 119 0 0
804 1,309 1,663 1,529 1,785 2,634 2,880 2,627 2,553 2,361 2,738 3,617 3,902
Total Assets 965 1,458 1,902 1,710 1,970 2,840 3,269 3,006 2,964 2,927 3,458 4,285 4,614

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
12 460 225 -65 48 25 453 -632 298 412 312 225
-45 38 -12 6 -26 -43 -208 -12 -59 -223 -166 -5
-32 -92 -105 -62 -96 436 -23 -181 -369 -153 -157 -69
Net Cash Flow -65 405 107 -122 -74 417 223 -824 -130 36 -11 151

Ratios Consolidated / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 38% 37% 25% 29% 33% 20% 19% 18% 17% 28% 31% 27%
Debtor Days 93 82 72 70 83 88 64 87 91 78 95 108
Inventory Turnover 6.17 6.53 8.09 5.51 6.50 6.10 6.47 5.23 5.21 5.93 5.48 5.28