Overview

Detailed Summary

APAR Industries Limited is one of the top global leaders in conductors, majorly operating in Power Transmission Conductors, Petroleum Specialty Oils, and Power & Telecom Cables.
In Q3 FY26, APAR achieved a record revenue of ₹5,480 crores, an increase of 16.2% compared to Q3 FY25, driven by a resilient domestic market and a favorable product mix.
The company's domestic revenue surged by 30% in Q3 FY26 and 26.9% in 9M FY26, while export revenues were affected due to U.S. tariffs, particularly impacting the cable and conductor segments.
APAR has a strong order book of INR 7,396 crores in its Conductor division and successfully secured new U.S. orders worth INR 500 crores, indicating robust growth and strategic market positioning.
Significant capex plans are underway with over INR 500 crores completed, aiming to enhance production capacity and capitalize on demand, particularly focusing on premium products and advanced manufacturing capabilities.

Sector: Capital Goods - Electrical Equipment
Industry: Electric Equipment - General - Large
Market Cap: 40,255 Cr
Volatility: High Risk
P/E Ratio: 41.8
Industry P/E: 51.4
PEG Ratio: 3.3
P/B Ratio: 8.3
52W High: 11,641.75
52W Low: 4,270.00

Sales CAGR

1Y: 15.03%
3Y: 26.88%
5Y: 20.13%
10Y: 13.77%

Profit CAGR

1Y: -0.46%
3Y: 50.33%
5Y: 41.69%
10Y: 23.86%

ROE

TTM: 19.36%
3Y: 21.52%
5Y: 19.67%
10Y: 17.88%

ROCE

TTM: 30.29%
3Y: 35.54%
5Y: 32.34%
10Y: 31.74%

Technicals

‌

Forecasts

Unlock Premium Features

Analyst Target, Price, EPS and Revenue Projections

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
APARINDS	10128.40	40,255 Cr	41.82	8.30	0.51	19.36	30.29	8.61
THERMAX	3014.50	35,915 Cr	49.81	7.11	0.46	11.75	13.65	5.59
SCHNEIDER	830.00	19,870 Cr	80.98	30.19	0.00	39.30	33.09	11.88
CROMPTON	244.30	15,798 Cr	34.08	4.65	1.22	13.91	19.05	7.86
VGUARD	301.05	13,087 Cr	46.14	5.98	0.50	13.26	16.88	8.61
EMMVEE	185.10	12,936 Cr	29.76	4.17	0.00	76.50	33.19	20.15
VIKRAMSOLR	166.40	6,029 Cr	36.17	2.04	0.00	12.59	20.97	9.37

Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

Ask AI

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	3,925	4,009	4,455	4,011	4,645	4,716	5,210	5,104	5,715	5,480
Expenses	3,576	3,603	4,028	3,635	4,288	4,360	4,752	4,652	5,255	5,035
Operating Profit	350	405	427	376	357	356	458	452	461	444
OPM %	8.91	10.10	9.58	9.37	7.68	7.55	8.80	8.86	8.06	8.11
Other Income	18	21	27	16	33	34	17	25	27	-9.69
Interest	103	113	101	90	101	118	100	86	108	106
Depreciation	28	29	31	31	32	33	36	38	40	41
Profit Before Tax	237	284	322	270	257	238	340	353	341	288
Tax %	26.56	23.47	26.55	25.09	24.68	26.65	26.49	25.42	26.09	27.48
Net Profit	174	218	236	203	193	175	250	263	252	209
EPS in Rs	43.29	56.62	60.97	50.42	48.27	43.55	62.23	65.39	62.66	51.92

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	5,289	5,939	7,964	7,425	6,388	9,317	14,336	16,153	18,581	19,675
Expenses	4,415	5,411	7,496	6,959	5,969	8,769	13,109	14,631	17,034	18,052
Operating Profit	874	528	468	466	419	548	1,227	1,522	1,547	1,623
OPM %	16.52	8.89	5.87	6.28	6.56	5.88	8.56	9.42	8.33	8.25
Other Income	16	11	15	18	19	33	37	86	99	109
Interest	114	140	200	228	136	141	306	387	409	405
Depreciation	45	56	67	87	93	98	104	116	132	139
Profit Before Tax	273	223	216	169	208	342	855	1,106	1,106	1,188
Tax %	35.53	35.03	37.07	20.22	22.94	24.93	25.37	25.39	25.72	25.81
Net Profit	176	145	136	135	161	257	638	825	821	881
EPS in Rs	43.91	36.02	33.87	33.65	39.96	63.92	158.77	210.03	204.47	242.20
Dividend Payout %	21.80	25.12	26.72	26.90	22.65	22.36	24.00	24.05	24.94	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	39	38	38	38	38	38	38	38	40	—
Reserves	815	998	1,070	1,164	1,128	1,361	1,677	2,198	3,836	—
Borrowings	347	277	332	218	336	325	359	376	476	0.00
Other Liabilities	1,717	2,135	2,836	3,601	3,151	3,275	4,533	5,605	5,264	0.00
Total Liabilities	2,919	3,448	4,276	5,021	4,654	4,999	6,608	8,218	9,616	—
Fixed Assets	398	574	649	709	885	878	881	950	1,193	0.00
CWIP	56	28	20	103	55	29	38	99	122	0.00
Investments	112	119	0.00	187	0.00	60	31	54	11	0.00
Other Assets	2,352	2,728	3,608	4,022	3,714	4,032	5,657	7,114	8,290	0.00
Total Assets	2,919	3,448	4,276	5,021	4,654	4,999	6,608	8,218	9,616	—

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	412	312	225	632	94	281	244	698	-283	1,291
Cash from Investing Activity	-223	-166	-4.57	-388	45	-115	-91	-267	-268	-705
Cash from Financing Activity	-153	-157	-69	-293	-189	-123	-106	-186	635	-483
Net Cash Flow	36	-11	152	-49	-49	44	47	245	84	103

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Nov 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	60.64%	60.64%	57.77%	57.77%	57.77%	57.77%	57.77%	57.77%	57.77%	57.77%	57.77%	57.77%
FIIs	7.47%	9.09%	10.81%	10.97%	11.55%	11.51%	10.97%	10.22%	9.86%	9.07%	9.25%	9.35%
DIIs	17.97%	17.06%	18.92%	18.62%	18.90%	19.73%	20.40%	21.24%	20.63%	21.79%	22.64%	23.21%
Public	13.92%	13.22%	12.50%	12.64%	11.78%	11.00%	10.86%	10.78%	11.74%	11.37%	10.35%	9.67%
Total Shareholders	71,660	92,403	91,220	94,354	90,969	91,491	1,00,821	1,02,362	1,14,553	1,12,365	1,06,316	97,761

Market Transactions

Unlock Premium Features

Analyst Target, Price, EPS and Revenue Projections

Projection

Unlock Premium Features

Get In-depth insights on EPS and Revenue forecasts

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Available on Pro Plan