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Apar Inds Overview

Apar Industries Ltd (Apar) is engaged inside the commercial enterprise of manufacture of conductors, transformer/speciality oils and power/telecom cables. It's segments are Transformer/Speciality Oils, Conductor, Power/Telecom Cables, and Others. The Company's speciality Oil business has a number of products, which falls below approximately 4 categories, inclusive of transformer oils, white oils and liquid paraffin's, business/automotive oils and system oils. The Company produces aluminium conductors. Its Uniflex Cables Division is a producer o...Read More

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Apar Inds Key Financials

Market Cap ₹46121 Cr.

Stock P/E 56.2

P/B 9.1

Current Price ₹11482

Book Value ₹ 1260.1

Face Value 10

52W High ₹11775.7

Dividend Yield 0.44%

52W Low ₹ 4819.2

Apar Inds Share Price

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Volume
Price

Apar Inds Quarterly Price

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Apar Inds Peer Comparison

Apar Inds Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 3922 4009 4455 4011 4645 4716 5210 5104 5715 5480
Other Income 21 21 27 15 33 34 17 25 27 15
Total Income 3944 4030 4483 4026 4677 4751 5227 5129 5743 5495
Total Expenditure 3575 3603 4028 3634 4288 4360 4752 4652 5255 5035
Operating Profit 369 426 454 392 389 390 475 477 488 460
Interest 103 113 101 90 101 118 100 86 108 106
Depreciation 28 29 31 31 32 33 36 38 40 41
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 -25
Profit Before Tax 237 284 322 270 257 239 340 353 341 288
Provision for Tax 63 67 85 68 63 64 90 90 89 79
Profit After Tax 174 218 236 203 194 175 250 263 252 209
Adjustments -1 -0 0 0 0 -0 -0 0 -0 -0
Profit After Adjustments 174 218 236 203 194 175 250 263 252 209
Adjusted Earnings Per Share 45.4 54.2 58.8 50.4 48.3 43.5 62.2 65.4 62.7 52

Apar Inds Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 5122 5078 4832 5819 7964 7425 6388 9317 14336 16153 18581 21509
Other Income 11 13 17 11 16 24 30 78 63 84 100 84
Total Income 5133 5091 4849 5830 7979 7449 6418 9394 14400 16237 18681 21594
Total Expenditure 4858 4701 4400 5393 7473 6939 5959 8784 13097 14583 17000 19694
Operating Profit 275 390 449 437 506 511 458 610 1303 1654 1681 1900
Interest 171 175 131 158 223 254 157 171 344 432 443 400
Depreciation 31 38 45 56 67 87 93 98 104 116 132 155
Exceptional Income / Expenses -0 0 0 0 0 0 0 0 0 0 0 -25
Profit Before Tax 72 178 273 223 216 169 208 342 855 1106 1106 1322
Provision for Tax 23 57 97 78 80 34 48 85 217 281 284 348
Profit After Tax 49 120 176 145 136 135 161 257 638 825 821 974
Adjustments 0 1 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 50 122 177 145 136 135 161 257 638 825 821 974
Adjusted Earnings Per Share 12.9 31.6 46.1 37.8 35.6 35.3 41.9 67.1 166.6 205.4 204.5 242.3

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 15% 26% 20% 14%
Operating Profit CAGR 2% 40% 27% 20%
PAT CAGR -0% 47% 43% 33%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 134% 60% 91% 37%
ROE Average 20% 26% 22% 17%
ROCE Average 33% 44% 36% 31%

Apar Inds Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 730 854 1036 1108 1202 1166 1400 1715 2236 3876 4504
Minority's Interest 1 0 0 0 0 0 0 0 0 0 0
Borrowings 95 83 91 162 130 188 192 195 151 334 298
Other Non-Current Liabilities 34 38 53 42 50 68 87 129 106 89 128
Total Current Liabilities 2096 1944 2269 2964 3575 3231 3321 4568 5724 5316 6334
Total Liabilities 2956 2919 3448 4276 4957 4654 4999 6608 8218 9616 11264
Fixed Assets 395 398 574 649 709 885 878 881 950 1193 1540
Other Non-Current Assets 55 270 77 54 136 102 79 168 261 253 411
Total Current Assets 2506 2250 2798 3573 4112 3667 4043 5558 7007 8170 9313
Total Assets 2956 2919 3448 4276 4957 4654 4999 6608 8218 9616 11264

Apar Inds Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 231 98 134 123 274 213 164 207 253 499 584
Cash Flow from Operating Activities 298 412 312 225 632 94 281 244 698 -283 1291
Cash Flow from Investing Activities -59 -223 -166 -5 -388 45 -115 -91 -267 -268 -705
Cash Flow from Financing Activities -369 -153 -157 -69 -293 -189 -123 -106 -186 635 -483
Net Cash Inflow / Outflow -130 36 -11 152 -49 -49 44 47 245 84 103
Closing Cash & Cash Equivalent 100 134 123 274 225 164 207 253 499 584 686

Apar Inds Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 12.86 31.61 46.14 37.82 35.55 35.31 41.94 67.08 166.64 205.4 204.46
CEPS(Rs) 20.94 41.05 57.81 52.42 52.97 58.08 66.35 92.65 193.9 234.21 237.35
DPS(Rs) 3.5 6.5 10 9.5 9.5 9.5 9.5 15 40 51 51
Book NAV/Share(Rs) 189.56 221.8 270.74 289.59 314.18 304.79 365.7 448.19 584.37 965.01 1120.52
Core EBITDA Margin(%) 4.7 6.81 8.17 7.16 6.16 6.55 6.71 5.72 8.63 9.69 8.49
EBIT Margin(%) 4.34 6.35 7.64 6.41 5.52 5.7 5.71 5.5 8.34 9.49 8.32
Pre Tax Margin(%) 1.29 3.2 5.17 3.75 2.72 2.28 3.26 3.67 5.95 6.82 5.94
PAT Margin (%) 0.88 2.17 3.33 2.44 1.71 1.82 2.51 2.76 4.44 5.09 4.41
Cash Profit Margin (%) 1.44 2.85 4.18 3.38 2.55 2.99 3.98 3.81 5.16 5.8 5.12
ROA(%) 1.66 4.1 5.54 3.75 2.95 2.81 3.33 4.42 8.6 9.25 7.87
ROE(%) 6.93 15.19 18.65 13.5 11.78 11.41 12.51 16.48 32.28 27 19.61
ROCE(%) 17.96 28.65 31.32 27.09 30.03 28.82 23.2 27.94 52.72 45.08 33.47
Receivable days 77.13 77.5 80.91 91.85 88.82 99.3 107.4 86.03 72.77 80.24 78.48
Inventory Days 63.81 56.35 60.85 67.79 57.18 64.25 82.68 72.51 59.88 61.25 60.52
Payable days 131.09 139.08 161.57 100.89 42.71 60.39 79.62 58.52 39.48 27.48 28.32
PER(x) 28.78 14.61 16.23 19.13 18.96 8.15 11.31 9.7 15.02 34.01 27.08
Price/Book(x) 1.95 2.08 2.77 2.5 2.15 0.94 1.3 1.45 4.28 7.24 4.94
Dividend Yield(%) 0.95 1.41 1.34 1.31 1.41 3.3 2 2.31 1.6 0.73 0.92
EV/Net Sales(x) 0.36 0.4 0.63 0.49 0.33 0.17 0.29 0.27 0.65 1.72 1.18
EV/Core EBITDA(x) 6.61 5.2 6.79 6.54 5.15 2.43 4.05 4.12 7.18 16.82 13.06
Net Sales Growth(%) 10.58 -0.85 -4.85 20.42 36.87 -6.76 -13.97 45.84 53.88 12.67 15.03
EBIT Growth(%) -30.98 44.81 14.53 -5.71 15.36 -3.59 -13.82 40.47 133.78 28.3 0.73
PAT Growth(%) -45.05 143.43 46.53 -17.88 -6 -0.67 18.76 59.96 148.4 29.38 -0.46
EPS Growth(%) -44.82 145.79 45.97 -18.03 -6 -0.67 18.76 59.96 148.4 23.26 -0.46
Debt/Equity(x) 0.68 0.45 0.29 0.33 0.21 0.27 0.19 0.17 0.14 0.1 0.1
Current Ratio(x) 1.2 1.16 1.23 1.21 1.15 1.13 1.22 1.22 1.22 1.54 1.47
Quick Ratio(x) 0.75 0.76 0.8 0.8 0.79 0.72 0.75 0.75 0.77 1 0.95
Interest Cover(x) 1.42 2.01 3.09 2.41 1.97 1.67 2.33 3 3.48 3.56 3.49
Total Debt/Mcap(x) 0.35 0.22 0.11 0.13 0.1 0.29 0.15 0.12 0.03 0.01 0.02

Apar Inds Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 57.77 57.77 57.77 57.77 57.77 57.77 57.77 57.77 57.77 57.77
FII 10.97 11.55 11.51 10.97 10.22 9.86 9.07 9.25 9.35 9.37
DII 18.62 18.9 19.73 20.4 21.24 20.63 21.79 22.64 23.21 24.15
Public 12.64 11.78 11 10.86 10.78 11.74 11.37 10.35 9.67 8.71
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Apar Inds News

Apar Inds Pros & Cons

Pros

  • Company has delivered good profit growth of 43% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26%
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Debtor days have increased from 27.48 to 28.32days.
  • Stock is trading at 9.1 times its book value.
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