Apar Industries share price hits ₹16,741 on Saudi deal

Stock hits a fresh record in intraday trade

Apar Industries shares touched a new all-time high of ₹16,740.85 on the BSE during Tuesday’s intraday trade, rising 4% on the day amid a positive business outlook. The move took the stock past its earlier record of ₹16,674.80, which was set on June 18, 2026. The rally has been sharp even against a relatively calm broader market. Over the past one month, Apar Industries gained 34%, compared with about a 1% rise in the BSE Sensex over the same period. From its calendar year 2026 low of ₹6,800 touched in January 2026, the stock has climbed about 146%.

What changed: Saudi Arabia manufacturing agreement

Investor attention increased after Apar Industries said its Middle East unit signed an agreement with Saudi Aramco Base Oil Company (Luberef). Under the agreement, Apar will produce specialty oils at the LubeHub facility in Yanbu, Saudi Arabia. The company said the step is aimed at strengthening its local manufacturing presence in the Middle East and supporting long-term growth targets. Luberef, in its statement, said it is pleased to sign an agreement with APAR Industries Middle East Limited to supply base oils within the lubeHub Value Park in Yanbu. Apar said this agreement enables it to produce its flagship transformer oils, along with a wide range of other specialty oils.

How the market read the announcement

The agreement adds a clear operating milestone to a stock that had already been moving on strong execution signals. The company’s narrative in recent weeks has combined business outlook commentary with tangible developments, including the Yanbu arrangement. The stock’s strength is also being discussed alongside its order visibility and recent earnings performance. While the announcement itself is operational, the market reaction suggests investors are factoring in regional manufacturing presence and the ability to service demand for transformer oils and specialty oils in regional markets.

Price action across BSE and NSE on June 23

Trading data across venues reflected strong buying interest through the session. On the BSE, the stock marked the new high at ₹16,740.85. On the NSE, Apar Industries (NSE: APARINDS) was trading at ₹16,470 as of June 23, 2026, up 1.84% for the day. The NSE intraday high was reported at ₹16,750. The stock’s recent move has positioned it among the stronger performers in the market over the last month.

Key numbers at a glance

Earnings and order book signals supporting the rally

Alongside the Saudi manufacturing development, the rally has also been linked to strong financial performance and order visibility. In the quarter ended June 30, 2025 (Q1 FY26), Apar Industries reported consolidated net profit of ₹263 crore, up from ₹203 crore in the year-ago period. Revenue increased to ₹5,104 crore from ₹4,011 crore a year earlier. The company’s expenses rose to ₹4,776 crore from ₹3,755 crore in the same period.

Sequentially, net profit was higher than ₹250 crore in Q4 FY25, while revenue was lower than ₹5,210 crore reported in Q4 FY25. The export contribution to revenue was 31.6% in Q1 FY26 versus 37% in Q1 FY25. The company also reported that its US business grew 111.3% over Q1 FY25 and 23.7% over Q4 FY25. Its pending order book in Q1 FY26 was stated at ₹7,779 crore.

Operational drivers: mix improvement and discipline

The business commentary accompanying the stock’s move pointed to domestic growth, an improved product mix, and operating discipline as factors behind performance. The company also flagged volume and mix-related drivers in its earnings commentary, including execution of higher-margin orders and a change in product and US mix. Volume data cited included global transformer oil volume growth of 7.4% year-on-year and automotive oil growth of 8.4% versus Q1 FY25. The company also said Q1 remained flat versus last year, while volume was up 8.1%.

Broader context: transmission capex and conductor demand

One section of the report linked Apar’s outlook to India’s transmission buildout. India’s National Electricity Plan targets ₹9 lakh crore of transmission investment by 2030, which is expected to drive higher demand for conductors. The report connected this demand cycle to conductor requirements for new transmission lines, and referenced Apar’s market position in ACSR conductors. It also linked order flows to Power Grid Corporation orders, state utility capex, and renewable energy evacuation infrastructure.

Company targets: US revenue, cable growth, and profitability goals

The report also outlined growth targets and profitability metrics communicated by the company. Apar Industries plans to grow US revenue from ₹1,600 crore currently to ₹4,800 crore within three years, driven by the cable segment, which it expects to grow 25% annually. It also cited targeted HTLS conductor EBITDA of ₹40,000 per ton with 10% volume growth, and referenced a base profitability range of ₹35,000 per metric ton. The company discussed an ambition to grow revenue by 15% with better margins and said it closed at ₹23,000 crore revenue last year, targeting additions of roughly ₹3,000 to ₹5,000 crore a year.

Other recent business update: telecom services contract

Separately, the report referenced a January 29, 2026 update in which Apar Industries announced its entry into telecom service business. It said the company was selected as the successful bidder for a project with a contract value of ₹156.9 crore (inclusive of GST), scheduled to be executed over a two-year period. The company said successful execution would deepen engagement with Indian Railways and position it for future business across other zones, while expanding its footprint in communication infrastructure.

Market impact: what investors are tracking now

The immediate market impact has been visible through the stock’s breakout to new highs and continued outperformance versus the benchmark over the last month. The drivers highlighted in the report cluster around three areas: capacity and market access via the Saudi agreement, earnings delivery and margin drivers, and order book strength. Investors also appear to be tracking execution against stated targets, including US revenue expansion and cable growth expectations. Any future updates around production ramp-up at Yanbu and order inflows are likely to remain key datapoints because they connect directly to volumes, mix, and export-led contribution.

Conclusion

Apar Industries’ move to a fresh record high of ₹16,740.85 on the BSE followed a combination of strong recent returns, earnings visibility, and its agreement with Luberef to produce specialty oils at the LubeHub facility in Yanbu, Saudi Arabia. The stock has also been supported by a stated order book of ₹7,779 crore in Q1 FY26 and reported year-on-year growth in profit and revenue. The next set of cues for investors will likely come from further business updates on the Saudi arrangement, demand conditions across key end markets, and the company’s execution against its stated growth and profitability targets.