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 ₹ 28,447 Cr.
- Current Price ₹ 7,082
- High / Low ₹ 7,447 / 2,501
- Stock P/E 34.2
- Book Value ₹ 613
- Dividend Yield 0.57 %
- ROCE 51.1 %
- ROE 32.3 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 35.1% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 23.0%
- Company's working capital requirements have reduced from 27.6 days to 21.9 days
Cons
- Stock is trading at 11.4 times its book value
- Promoter holding has decreased over last quarter: -2.87%
- 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
3,589 | 4,643 | 4,628 | 5,108 | 5,078 | 4,832 | 5,818 | 7,964 | 7,425 | 6,388 | 9,317 | 14,352 | 15,800 | |
3,368 | 4,322 | 4,321 | 4,843 | 4,698 | 4,398 | 5,393 | 7,472 | 6,930 | 5,948 | 8,739 | 13,085 | 14,276 | |
Operating Profit | 222 | 321 | 307 | 264 | 380 | 434 | 426 | 491 | 495 | 440 | 578 | 1,267 | 1,524 |
OPM % | 6% | 7% | 7% | 5% | 7% | 9% | 7% | 6% | 7% | 7% | 6% | 9% | 10% |
47 | -3 | 4 | 1 | 10 | 15 | 11 | 15 | 15 | 19 | 33 | 36 | 64 | |
Interest | 170 | 144 | 155 | 162 | 175 | 131 | 158 | 223 | 254 | 157 | 171 | 344 | 365 |
Depreciation | 22 | 24 | 27 | 31 | 38 | 45 | 56 | 67 | 87 | 93 | 98 | 104 | 112 |
Profit before tax | 77 | 150 | 129 | 72 | 178 | 273 | 223 | 216 | 169 | 208 | 342 | 855 | 1,112 |
Tax % | 3% | 27% | 30% | 32% | 32% | 36% | 35% | 37% | 20% | 23% | 25% | 25% | |
74 | 110 | 90 | 49 | 122 | 177 | 145 | 136 | 135 | 160 | 257 | 638 | 832 | |
EPS in Rs | 20.30 | 28.45 | 23.37 | 12.86 | 31.61 | 46.14 | 37.82 | 35.55 | 35.32 | 41.94 | 67.09 | 166.64 | 214.62 |
Dividend Payout % | 20% | 18% | 22% | 27% | 21% | 22% | 25% | 27% | 27% | 23% | 22% | 24% |
Compounded Sales Growth | |
---|---|
10 Years: | 12% |
5 Years: | 20% |
3 Years: | 25% |
TTM: | 19% |
Compounded Profit Growth | |
---|---|
10 Years: | 19% |
5 Years: | 35% |
3 Years: | 68% |
TTM: | 74% |
Stock Price CAGR | |
---|---|
10 Years: | 47% |
5 Years: | 59% |
3 Years: | 147% |
1 Year: | 149% |
Return on Equity | |
---|---|
10 Years: | 17% |
5 Years: | 18% |
3 Years: | 22% |
Last Year: | 32% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 36 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 |
Reserves | 485 | 588 | 658 | 691 | 815 | 998 | 1,070 | 1,164 | 1,128 | 1,361 | 1,677 | 2,198 | 2,425 |
993 | 984 | 792 | 494 | 384 | 305 | 363 | 253 | 372 | 325 | 359 | 376 | 416 | |
1,319 | 1,648 | 1,510 | 1,732 | 1,680 | 2,107 | 2,805 | 3,501 | 3,116 | 3,275 | 4,533 | 5,605 | 5,456 | |
Total Liabilities | 2,833 | 3,258 | 2,998 | 2,956 | 2,919 | 3,448 | 4,276 | 4,957 | 4,654 | 4,999 | 6,608 | 8,218 | 8,335 |
185 | 263 | 359 | 395 | 398 | 574 | 649 | 709 | 885 | 878 | 881 | 950 | 1,005 | |
CWIP | 22 | 45 | 18 | 10 | 56 | 28 | 20 | 103 | 55 | 29 | 38 | 99 | 154 |
Investments | 0 | 80 | 2 | 5 | 112 | 119 | 0 | 187 | 0 | 60 | 31 | 54 | 6 |
2,627 | 2,870 | 2,620 | 2,546 | 2,352 | 2,728 | 3,608 | 3,958 | 3,714 | 4,032 | 5,657 | 7,114 | 7,170 | |
Total Assets | 2,833 | 3,258 | 2,998 | 2,956 | 2,919 | 3,448 | 4,276 | 4,957 | 4,654 | 4,999 | 6,608 | 8,218 | 8,335 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
25 | 453 | -632 | 298 | 412 | 312 | 225 | 632 | 94 | 281 | 244 | 698 | |
-43 | -208 | -12 | -59 | -223 | -166 | -5 | -388 | 45 | -115 | -91 | -269 | |
436 | -23 | -181 | -369 | -153 | -157 | -69 | -293 | -189 | -123 | -106 | -184 | |
Net Cash Flow | 417 | 223 | -824 | -130 | 36 | -11 | 151 | -49 | -49 | 43 | 46 | 246 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 88 | 64 | 87 | 91 | 78 | 95 | 109 | 98 | 93 | 106 | 99 | 81 |
Inventory Days | 86 | 75 | 101 | 84 | 72 | 102 | 98 | 74 | 85 | 119 | 108 | 88 |
Days Payable | 106 | 148 | 136 | 141 | 130 | 181 | 207 | 188 | 182 | 231 | 207 | 177 |
Cash Conversion Cycle | 68 | -9 | 52 | 34 | 20 | 15 | 0 | -16 | -4 | -6 | 1 | -8 |
Working Capital Days | 49 | 11 | 67 | 49 | 24 | 36 | 32 | 10 | 18 | 30 | 31 | 22 |
ROCE % | 20% | 19% | 18% | 17% | 28% | 31% | 27% | 30% | 28% | 22% | 27% | 51% |
Documents
Announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 12 Apr
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Compliance Certificate For Year Ended March 31, 2024
10 Apr - Submission of Compliance Certificate under Regulation 7(3) of SEBI (LODR) Regulations, 2015 for the financial year ended March 31, 2024.
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 10 Apr
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
10 Apr - Submission of Certificate under Regulation 74(5) of the SEBI (Depositories & Participants) Regulations, 2018 for the quarter ended March 31, 2024.
- Shareholder Meeting / Postal Ballot-Outcome of AGM 8 Apr
Annual reports
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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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Financial Year 2011
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Concalls
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Conductors:
It is the largest one-stop solution provider for design, manufacturing, upgrading transmission lines and testing of conductors in the world. They are the largest exporters of conductors from India.[1]