🔍

APARINDS - Apar Inds.

📊 NSE: APARINDS 🏢 Electric Equipment 📅 Last Updated: 12/13/2025 18:23

📢 Recent Corporate Announcements

Apar Industries Seeks Shareholder Approval for Appointment of Independent Director

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 10 Feb 2026, 02:45 PM

Apar Industries has issued a postal ballot notice to seek shareholder approval for the appointment of Mr. Pitamber Shivnani as an Independent Director. He was previously appointed as an Additional Director effective January 29, 2026, and the proposed term is for five consecutive years. The e-voting period for shareholders begins on February 13, 2026, and concludes on March 14, 2026. This is a standard corporate governance procedure to formalize board composition.

Proposed appointment of Mr. Pitamber Shivnani as Independent Director for a 5-year term starting Jan 29, 2026
E-voting period scheduled from February 13, 2026, to March 14, 2026
Cut-off date for determining voting eligibility set as Friday, February 6, 2026
The resolution is proposed as a Special Resolution conducted entirely through remote e-voting

💡 Investors should review the candidate's professional background in the explanatory statement and cast their votes through the CDSL e-voting platform by March 14, 2026.

Apar Industries to Participate in Nuvama India Conference on February 10, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 04 Feb 2026, 04:03 PM

Apar Industries has scheduled an interaction with analysts and institutional investors for February 10, 2026. The meeting is part of the Nuvama India Conference 2026, themed 'India: Shoring up Self-Reliance,' and will take place from 10:00 a.m. to 02:00 p.m. The engagement will include both group and one-on-one sessions in physical and online formats. The company has explicitly stated that no unpublished price sensitive information will be disclosed during these sessions.

Meeting scheduled for February 10, 2026, from 10:00 a.m. to 02:00 p.m.
Hosted by Nuvama India Conference 2026 involving several analysts and institutional investors.
Interaction format includes both physical and online modes for group or one-on-one meetings.
Company will refer to existing public presentations; no unpublished price sensitive information (UPSI) to be shared.

💡 Investors should monitor the company's website for any updated investor presentations following the conference. No immediate action is required as this is a routine investor relations event.

Apar Industries Q3 FY26 PAT Rises 19.4% to ₹209 Cr; Conductor EBITDA/MT Hits Record ₹44,195

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 04 Feb 2026, 02:48 PM

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.

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.

💡 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 Releases Q3FY26 Post-Earnings Conference Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 29 Jan 2026, 06:34 PM

Apar Industries has officially released the audio recording of its Q3FY26 earnings conference call held on January 29, 2026. The call focused on the company's un-audited standalone and consolidated financial performance for the third quarter of the 2025-26 fiscal year. This disclosure is in compliance with SEBI (LODR) Regulations, 2015, ensuring transparency for all stakeholders. Investors can access the recording via the company's website to hear management's detailed commentary on business operations and future outlook.

Audio recording of the Q3FY26 earnings call is now available for public access via the company website.
The call was conducted on January 29, 2026, to discuss standalone and consolidated results for the quarter.
Submission made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations.
The recording provides management insights into the company's performance during the October-December 2025 period.

💡 Investors should review the recording to understand management's outlook on key segments like conductors and specialty oils. This is a routine disclosure and does not necessitate immediate portfolio changes.

Apar Industries Enters Telecom EPC Business with ₹156.9 Cr Railway Contract

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 29 Jan 2026, 03:33 PM

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.

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

💡 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

🟢 POSITIVE ⭐ 7/10

ROUTINE 📅 29 Jan 2026, 01:40 PM

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.

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.

💡 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

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 29 Jan 2026, 01:36 PM

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.

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.

💡 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

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 29 Jan 2026, 01:16 PM

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.

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.

💡 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

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 29 Jan 2026, 01:11 PM

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.

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.

💡 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%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 29 Jan 2026, 01:06 PM

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.

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.

💡 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 Grants 21,399 ESARs to Employees at Rs. 7,411.50

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 29 Jan 2026, 12:53 PM

Apar Industries has approved the grant of 21,399 Employee Stock Appreciation Rights (ESARs) to eligible employees under its 2024 Plan. The grant price is set at Rs. 7,411.50, which represents the market price with zero discount. These rights will vest over a maximum period of four years and have an exercise window of eight years post-vesting. This initiative is designed to align employee performance with long-term shareholder value.

Grant of 21,399 ESARs approved by the Nomination and Compensation-cum-Remuneration Committee
ESAR price fixed at Rs. 7,411.50, reflecting 0% discount to the market price
Vesting period for the granted rights is a maximum of 4 years from the date of grant
Exercise period is set for a maximum of 8 years from the date of vesting
Each ESAR entitles the holder to less than one equity share based on the stock's appreciation

💡 No immediate action is required as this is a routine administrative measure for employee retention. The potential equity dilution from this specific grant is minimal.

Apar Industries Schedules Q3-FY26 Earnings Conference Call for January 29, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 19 Jan 2026, 03:16 PM

Apar Industries Limited has announced its Q3-FY26 earnings conference call, scheduled for Thursday, January 29, 2026, at 3:30 PM IST. The call will be led by top management, including Chairman & Managing Director Kushal Desai and CFO Ramesh Iyer. This session provides a platform for analysts and investors to discuss the company's financial performance for the quarter ending December 2025. Participation is available via domestic dial-in numbers and international toll-free lines for major global hubs.

Conference call to discuss Q3-FY26 results is set for January 29, 2026, at 15:30 IST.
Management team present includes CMD Kushal Desai, MD Chaitanya Desai, and CFO Ramesh Iyer.
Domestic dial-in numbers provided are +91 22 6280 1268 and +91 22 7115 8169.
International toll-free access available for USA, UK, Singapore, and Hong Kong investors.
The call is organized through S-Ancial Technologies Pvt. Ltd.

💡 Investors should review the Q3 financial results prior to the call and listen for management commentary on segment-wise margins and order book growth.

Apar Industries Submits SEBI Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 12 Jan 2026, 05:34 PM

Apar Industries has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations for the period ended December 31, 2025. The certificate, issued by Registrar MUFG Intime India Private Limited, confirms that all share dematerialization requests were processed within prescribed timelines. It further verifies that the security certificates were mutilated and cancelled after due verification. This is a standard procedural filing ensuring the company's share registry is maintained accurately and in compliance with regulatory standards.

Compliance certificate submitted for the quarter ended December 31, 2025.
Issued by Registrar and Transfer Agent (RTA) MUFG Intime India Private Limited.
Confirms that dematerialized securities are listed on the relevant stock exchanges.
Verification that physical certificates were cancelled and substituted with depository names in the register.
Confirms adherence to SEBI timelines for processing investor requests.

💡 No action is required from investors as this is a routine regulatory filing confirming administrative compliance.

Apar Industries to Close Trading Window from Jan 1, 2026 for Q3 FY26 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 29 Dec 2025, 04:17 PM

Apar Industries Limited has announced the closure of its trading window effective January 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is in anticipation of the declaration of the company's un-audited financial results for the third quarter and nine-month period ending December 31, 2025. The window will remain closed for all designated persons and will reopen 48 hours after the results are officially published. This is a standard mandatory compliance step and does not reflect any change in the company's operational fundamentals.

Trading window closure begins on Thursday, January 1, 2026.
Closure pertains to the Un-audited Financial Results for Q3 and Nine Months ending December 31, 2025.
Trading restriction will be lifted 48 hours after the declaration of financial results.
The filing is pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015.

💡 No action is required as this is a routine regulatory filing. Investors should look forward to the actual Q3 earnings release for performance updates.

Apar Industries: CEO Shashi Amin Resigns, Effective Dec 12, 2025

🟡 NEUTRAL ⭐ 5/10

MANAGEMENT 📅 15 Dec 2025, 12:59 PM

Apar Industries Limited announced the resignation of Mr. Shashi Amin, Chief Executive Officer – Cable Solutions, effective December 12, 2025. Mr. Amin is leaving to pursue new opportunities outside the company. The company informed the exchange about this resignation under Regulation 30 of SEBI Listing Regulations. Investors should monitor the company's strategic direction and leadership transition following this change.

Mr. Shashi Amin resigned as Chief Executive Officer – Cable Solutions.
Resignation is effective from December 12, 2025.
The resignation was disclosed under Regulation 30 of SEBI Listing Regulations.

💡 Investors should monitor the company's updates regarding the appointment of a new CEO and any potential impact on the company's cable solutions business. Review future earnings calls for further information.

View All APARINDS Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue grew 15.0% YoY to INR 18,581.21 Cr in FY25. In H1 FY26, revenue reached INR 10,820 Cr, up 25.0% YoY. Segment-wise, Conductors grew 39.0% to INR 5,885 Cr in H1 FY26, while Specialty Oil and Lubricants (TSO) revenue remained flat at INR 2,604 Cr despite an 8.1% volume growth. Cables revenue increased by 18% in FY24 led by elastomeric products.

Geographic Revenue Split

Domestic revenue for the conductor division grew 41.4% in H1 FY26. Exports for conductors grew 74.6% in Q2 FY26, contributing 24.2% to the segment's revenue for the quarter and 22.3% for H1 FY26, up from 18.7% in Q2 FY25.

Profitability Margins

Consolidated PAT for FY25 was INR 821.30 Cr, a slight decrease of 0.5% YoY. PAT margin stood at 4.4% in FY25 compared to 5.1% in FY24. ROE declined from 27.0% in FY24 to 19.6% in FY25.

EBITDA Margin

Consolidated EBITDA margin was 9.0% in FY25, down 1.1% from 10.1% in FY24. For H1 FY26, the TSO segment EBITDA margin improved to 7.6% from 6.8% YoY, while the Conductor segment EBITDA margin was 8.5% compared to 9.2% in H1 FY25.

Capital Expenditure

Capital work-in-progress (CWIP) significantly increased to INR 366.41 Cr as of H1 FY26 from INR 127.79 Cr in FY25, indicating substantial ongoing investment in capacity expansion.

Credit Rating & Borrowing

CARE Ratings maintains a 'Stable' outlook. The Total Outside Liabilities to Tangible Net Worth (TOL/TNW) improved to 1.48x as of March 31, 2024, from 2.67x, following a INR 1,000 Cr QIP issue. Finance costs were INR 408.91 Cr in FY25, up 5.8% YoY.

⚙️ Operational Drivers

Raw Materials

Key raw materials include Aluminum, Copper, and Base Oils. Raw material costs reached INR 8,504 Cr in H1 FY26, representing 78.6% of total income.

Import Sources

The company operates through subsidiaries in the UAE (Sharjah), Singapore, USA (Delaware), and Saudi Arabia, which facilitate global sourcing and distribution of specialty oils and cables.

Key Suppliers

Not explicitly disclosed in available documents; however, the company maintains strong operational linkages across its consolidated entities.

Capacity Expansion

Current expansion is evidenced by a 186% increase in CWIP to INR 366.41 Cr. TSO volumes reached 3,10,148 KL and Conductor volumes reached 1,20,069 MT in H1 FY26.

Raw Material Costs

Raw material costs were INR 8,504 Cr in H1 FY26, up 23.5% YoY from INR 6,889 Cr, tracking the 25% growth in revenue.

Manufacturing Efficiency

Net Fixed Asset Turnover Ratio was 11.1 in FY25, compared to 12.3 in FY24, reflecting the lead time for new capital investments to generate revenue.

Logistics & Distribution

Distribution is impacted by freight volatility; the company leverages its global footprint in the UAE and Singapore to optimize international logistics.

📈 Strategic Growth

Expected Growth Rate

25%

Growth Strategy

Growth is driven by 'premiumization' of the product profile, particularly in high-efficiency conductors and elastomeric cables. The company is targeting high-growth sectors including renewable energy, defense, railways, and metros, while expanding its global export footprint which saw 74.6% growth in the conductor segment in Q2 FY26.

Products & Services

High-efficiency conductors, transformer oils, specialty lubricants, elastomeric cables, and fiber optic cables.

Brand Portfolio

APAR

New Products/Services

New product launches include specialized elastomeric products for the renewable energy and defense sectors, contributing to an 18% revenue increase in the cable segment.

Market Expansion

Targeting global markets with a focus on premium products; exports now contribute over 22% of conductor revenue.

Market Share & Ranking

Global leadership position in Conductors and Transformer & Specialty Oils (TSO) segments.

Strategic Alliances

Strategic international subsidiaries include Petroleum Specialities FZE (UAE), Petroleum Specialities Pte. Ltd. (Singapore), and CEMA Wires & Cables LLC (USA).

🌍 External Factors

Industry Trends

The industry is transitioning toward renewable energy and grid modernization. APAR is positioning itself as a premium supplier of high-efficiency transmission solutions to capture this shift.

Competitive Landscape

Faces increasing competition in the domestic cable and conductor markets, tempered by its leadership in premium, high-margin segments.

Competitive Moat

Moat is built on cost leadership in TSO and technical expertise in high-efficiency conductors, which are sustainable due to high entry barriers and long-standing client relationships with major utilities.

Macro Economic Sensitivity

Highly sensitive to power sector capital expenditure and government infrastructure spending, particularly in the renewable energy and defense sectors.

Consumer Behavior

Shift toward energy-efficient products and sustainable infrastructure is driving demand for APAR's specialized cable and conductor offerings.

Geopolitical Risks

Exposure to global trade barriers and freight volatility due to a high volume of exports and international subsidiaries.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by environmental norms for oil processing and manufacturing standards for power transmission equipment; no material departures from accounting standards reported.

Environmental Compliance

CSR expenditure of INR 14.64 Cr in FY25; the company maintains systems for compliance with environmental and labor laws.

Taxation Policy Impact

Effective tax rate of 25.7% in FY25, with tax expenses of INR 284.34 Cr on a consolidated PBT of INR 1,105.76 Cr.

Legal Contingencies

No instances of fraud were reported by auditors under Section 143(12) of the Act during FY25; no specific pending litigation values were disclosed in the provided documents.