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Apar Industries Q3 FY26 PAT Rises 19.4% to ₹209 Cr; Conductor EBITDA/MT Hits Record ₹44,195
Apar Industries reported a 16.2% YoY growth in consolidated revenue to ₹5,480 crores for Q3 FY26, driven by a strong 30% growth in the domestic market. Despite a slowdown in US exports due to Section 232 tariffs, the Conductor segment achieved a record EBITDA of ₹44,195 per metric ton due to a superior product mix. The company recognized an exceptional loss of ₹25 crores for labor code provisions but still managed a 19.4% increase in PAT to ₹209 crores. Management noted a recovery in US cable orders with ₹500 crores booked in Q3, signaling a potential rebound in Q4.
Key Highlights
Consolidated revenue grew 16.2% YoY to ₹5,480 crores, while 9-month PAT reached an all-time high of ₹723 crores.
Conductor segment EBITDA/MT surged to ₹44,195 from ₹29,593 YoY, supported by a 44.2% premium product mix.
Domestic revenue across segments grew 30% YoY, offsetting an 11.2% decline in total exports.
Cable segment saw a 65% drop in US revenue in Q3, but secured ₹500 crores in new orders for execution in Q4.
Exceptional provision of ₹25 crores made for past service costs related to the new labor code.
💼 Action for Investors
Investors should monitor the sustainability of the high conductor margins and the execution of the new ₹500 crore US cable order book. The company remains a key beneficiary of India's renewable energy push and global grid modernization.
Apar Industries Enters Telecom EPC Business with ₹156.9 Cr Railway Contract
Apar Industries is diversifying into the telecom service business, specifically targeting railway signaling and infrastructure. The company has secured a ₹156.9 crore EPC contract from South Eastern Railway for the deployment of telecom towers and OFC backbone across 1,563 route kilometers. This project supports the rollout of the 'Kavach' safety system and is expected to be completed within two years. The expansion requires minimal capex, with an estimated working capital requirement of only ₹10 crore.
Key Highlights
Awarded a ₹156.9 crore EPC contract from South Eastern Railway for telecom infrastructure
Project covers 1,563 route kilometers involving telecom towers and OFC backbone
Execution period is set for two years with a focus on the indigenous 'Kavach' safety system
Minimal capital expenditure required with an estimated working capital of ₹10 crore
Strategic entry into a new line of business to diversify revenue streams and deepen railway engagement
💼 Action for Investors
Investors should monitor the successful execution of this pilot-scale project as it opens doors to the massive 'Kavach' rollout across Indian Railways. This low-capex diversification into high-tech infrastructure is a positive strategic move for long-term growth.
Apar Industries Reports FY25 Revenue of ₹18,581 Cr with 30.6% 5-Year CAGR
Apar Industries has demonstrated robust growth with FY25 revenue reaching ₹18,581 crore, supported by a strong 5-year CAGR of 30.6%. The company maintains global leadership as the largest manufacturer of aluminum and alloy conductors and the third-largest producer of transformer oils. Export markets continue to be a significant driver, contributing 32.8% to the total FY25 revenue across 140+ countries. The conductor segment remains the primary growth engine, recording a 34.7% 5-year CAGR to reach ₹9,582 crore.
Key Highlights
FY25 consolidated revenue reached ₹18,581 crore ($2.20 billion) with a 30.6% 5-year CAGR.
Conductor segment revenue grew to ₹9,582 crore in FY25, achieving a 34.7% 5-year CAGR.
Export revenues accounted for 32.8% of total FY25 turnover, with operations spanning 140+ countries.
Strategic agreement with Hindalco for molten metal sourcing provides a cost saving of ₹1,200 per MT.
Successfully raised ₹1,000 crore through a QIP in 2024 to support greenfield expansions and growth.
💼 Action for Investors
Investors should view the company as a key beneficiary of global energy infrastructure and renewable energy spending. The strong export mix and cost-saving initiatives provide a competitive edge, making it a solid long-term hold in the industrial sector.
Apar Industries Q3 FY26 Revenue up 16.2% to ₹5,480 Cr; PAT grows 19.4% to ₹209 Cr
Apar Industries reported a strong Q3 FY26 with consolidated revenue reaching ₹5,480 crores, driven by domestic resilience and an improved product mix. Despite an exceptional loss of ₹25 crores due to new labour code provisions, PAT grew 19.4% YoY to ₹209 crores. The Conductor division was a standout performer, with EBITDA per MT surging 49.3% YoY to ₹44,195. While domestic revenue grew 30% YoY, exports faced headwinds, de-growing 11.2% in Q3 due to tariff-related challenges in the US market.
Key Highlights
9M FY26 revenue reached an all-time high of ₹16,299 crores, representing a 21.9% YoY growth.
Conductor division EBITDA per MT increased significantly to ₹44,195 in Q3 FY26 from ₹29,593 in Q3 FY25.
Specialty Oil and Lubricant division saw a 20.8% YoY volume growth in Q3 FY26.
Combined pending order book for Conductors and Cables stands at ₹9,064 crores.
Exceptional loss of ₹25 crores recorded for gratuity and compensated absences due to new labour code enactment.
💼 Action for Investors
Investors should maintain a positive outlook given the robust domestic demand and significant margin expansion in the conductor segment. Monitor the US export situation for signs of recovery as it remains a key high-margin geography.
Apar Industries Q3 FY26 Revenue Up 16% YoY to ₹5,480 Cr; PAT Grows to ₹208 Cr
Apar Industries reported a strong performance for Q3 FY26, with consolidated revenue from operations increasing by 16.2% YoY to ₹5,479.73 crore. Consolidated Profit After Tax (PAT) grew by 17.9% YoY to ₹207.61 crore, even after accounting for a one-time exceptional charge of ₹24.99 crore. The Conductors segment continues to lead growth, contributing ₹3,062.86 crore to the quarterly revenue. Additionally, the company strengthened its board by appointing Mr. Pitamber Shivnani as an Independent Director.
Key Highlights
Consolidated revenue from operations rose 16.2% YoY to ₹5,479.73 crore in Q3 FY26.
Consolidated PAT increased to ₹207.61 crore compared to ₹176.06 crore in Q3 FY25.
Recognized an exceptional item of ₹24.99 crore related to past service costs under the new Labour Codes.
Conductors segment revenue reached ₹3,062.86 crore, while Cables segment contributed ₹1,361.85 crore.
Nine-month FY26 consolidated revenue stands at ₹16,299.32 crore, up from ₹13,371.45 crore YoY.
💼 Action for Investors
Investors should focus on the robust growth in the Conductors and Cables segments, which indicates strong demand in the power infrastructure sector. The exceptional hit is a non-recurring regulatory adjustment, and the overall operational trajectory remains healthy.
Apar Industries Q3 FY26 PAT Rises 18% YoY to ₹208 Cr; Appoints New Independent Director
Apar Industries reported a strong performance for Q3 FY26 with consolidated revenue reaching ₹5,479.73 crore, a 16.2% increase from ₹4,716.42 crore in the previous year. Consolidated Profit After Tax (PAT) grew by 17.9% YoY to ₹207.61 crore, even after accounting for a one-time exceptional charge of ₹24.99 crore related to new labor code provisions. The Conductors segment led growth with revenues of ₹3,062.86 crore, while the board also approved the appointment of Mr. Pitamber Shivnani as an Independent Director.
Key Highlights
Consolidated Revenue from operations grew 16.2% YoY to ₹5,479.73 crore in Q3 FY26.
Consolidated PAT increased to ₹207.61 crore from ₹176.06 crore in the same quarter last year.
Conductors segment revenue rose significantly to ₹3,062.86 crore compared to ₹2,449.13 crore YoY.
Recognized an exceptional item of ₹24.99 crore for past service costs related to the Code on Social Security, 2020.
Appointment of Mr. Pitamber Shivnani as Independent Director (Non-Executive) approved by the Board.
💼 Action for Investors
Investors should take note of the robust double-digit growth in the Conductors and Cables segments, reflecting strong infrastructure demand. The one-time impact of labor code provisions is now largely priced in, making the underlying operational performance the key focus for future quarters.
Apar Industries Q3 FY26 PAT Rises 19.4% YoY to ₹208.9 Cr; Revenue Up 16.2%
Apar Industries reported a strong performance for Q3 FY26, with consolidated revenue from operations growing 16.2% YoY to ₹5,479.73 crore. Net profit for the quarter increased by 19.4% YoY to ₹208.93 crore, even after accounting for a one-time exceptional charge of ₹24.99 crore related to new Labour Code provisions. The Conductors segment continues to lead growth, contributing ₹3,062.86 crore to the top line. For the nine-month period, the company has already surpassed ₹723 crore in PAT, reflecting robust operational efficiency.
Key Highlights
Consolidated Revenue from Operations increased 16.2% YoY to ₹5,479.73 crore in Q3 FY26.
Profit After Tax (PAT) grew 19.4% YoY to ₹208.93 crore from ₹174.92 crore in the previous year.
Conductors segment revenue reached ₹3,062.86 crore, while Cables segment contributed ₹1,361.85 crore.
Exceptional item of ₹24.99 crore recognized due to provisions for the new Code on Social Security 2020.
Basic EPS for the quarter improved significantly to ₹52.01 from ₹43.55 in Q3 FY25.
💼 Action for Investors
Investors should remain positive on the stock as the company demonstrates strong growth in its core T&D segments despite regulatory cost headwinds. The consistent margin improvement and leadership in conductors make it a key beneficiary of global power infrastructure spending.
Apar Industries Appoints Former Siemens Executive Chandrashekhar Shrotri as CEO - Cable Solutions
Apar Industries has appointed Mr. Chandrashekhar Shrotri as the Chief Executive Officer for its Cable Solutions division, effective December 4, 2025. Mr. Shrotri brings over 35 years of extensive experience in global business development and general management. He previously served as Segment CEO at Siemens Limited, where he managed operations across 22 countries in South Asia, South East Asia, Sub-Saharan Africa, and Australia. This strategic hire is expected to strengthen the leadership of the company's cable business, which is a core growth driver.
Key Highlights
Appointment of Mr. Chandrashekhar Shrotri as CEO — Cable Solutions effective December 4, 2025
New appointee brings over 35 years of experience in Sales, Marketing, and General Management
Previously served as Segment CEO at Siemens Limited overseeing operations in 22 countries
The appointment was recommended by the Nomination and Compensation-cum-Remuneration Committee
Mr. Shrotri will serve as a full-time Senior Management Personnel
💼 Action for Investors
Investors should view this high-caliber leadership addition as a positive sign for the company's expansion plans in the cable segment. Monitor the division's performance in upcoming quarters to assess the impact of the new leadership on margins and market share.