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Consolidated Standalone

Apar Inds

₹7652 17.4 | 0.2%

Market Cap ₹30737 Cr.

Stock P/E 35.7

P/B 8.4

Current Price ₹7652

Book Value ₹ 916.4

Face Value 10

52W High ₹8149.3

Dividend Yield 0.52%

52W Low ₹ 2551

Edit Ratio

Apar Inds Research see more...

Overview Inc. Year: 1989Industry: Electric Equipment

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 of electrical and telecommunication cables. Apar's Automotive Division markets a range of automotive lubricants starting from 2 wheeler oils and gear oils greases. In business lubricants, it offers a selection catering numerous segments of the enterprise, inclusive of general equipment oils, heat transfer oils, quenching oils, marine oils rust preventives,hydraulic oils, industrial tools oils, pneumatic oils, gas engine oils, and specialty products.

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Apar Inds Share Price

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Peer Comparison

Apar Inds Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 2269 2229 3012 3093 3235 3939 4089 3773 3926 4013
Other Income 5 9 9 4 12 7 11 14 19 21
Total Income 2274 2237 3021 3098 3247 3946 4099 3787 3945 4034
Total Expenditure 2142 2113 2839 2856 3009 3596 3665 3427 3576 3608
Operating Profit 132 124 182 242 238 350 435 360 369 426
Interest 31 26 46 61 71 94 79 70 103 113
Depreciation 24 25 25 25 26 26 27 27 28 29
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 77 74 112 156 141 230 328 263 237 284
Provision for Tax 20 19 29 33 38 60 85 66 63 67
Profit After Tax 57 55 83 122 103 170 243 197 174 218
Adjustments 0 0 0 0 0 0 -0 -0 -1 -0
Profit After Adjustments 57 55 83 122 103 170 243 197 174 218
Adjusted Earnings Per Share 14.9 14.4 21.6 32 26.8 44.4 63.4 51.6 45.4 54.2

Apar Inds Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 4651 4632 5122 5078 4832 5819 7964 7425 6388 9317 14352 15801
Other Income 88 74 11 13 17 11 16 24 30 78 63 65
Total Income 4738 4706 5133 5091 4849 5830 7979 7449 6418 9394 14415 15865
Total Expenditure 4333 4325 4858 4701 4400 5393 7473 6939 5959 8784 13112 14276
Operating Profit 405 381 275 390 449 437 506 511 458 610 1303 1590
Interest 226 224 171 175 131 158 223 254 157 171 344 365
Depreciation 24 27 31 38 45 56 67 87 93 98 104 111
Exceptional Income / Expenses -5 -1 -0 0 0 0 0 0 0 0 0 0
Profit Before Tax 150 129 72 178 273 223 216 169 208 342 855 1112
Provision for Tax 40 39 23 57 97 78 80 34 48 85 217 281
Profit After Tax 110 90 49 120 176 145 136 135 161 257 638 832
Adjustments -1 -0 0 1 0 0 0 0 0 0 0 -1
Profit After Adjustments 109 90 50 122 177 145 136 135 161 257 638 832
Adjusted Earnings Per Share 28.5 23.3 12.9 31.6 46.1 37.8 35.6 35.3 41.9 67.1 166.6 214.6

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 54% 25% 20% 12%
Operating Profit CAGR 114% 37% 24% 12%
PAT CAGR 148% 68% 34% 19%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 190% 146% 64% 49%
ROE Average 32% 20% 17% 16%
ROCE Average 53% 35% 33% 29%

Apar Inds Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 627 696 730 854 1036 1108 1202 1166 1400 1715 2236
Minority's Interest 2 2 1 0 0 0 0 0 0 0 0
Borrowings 33 70 95 83 91 162 130 188 192 195 151
Other Non-Current Liabilities 27 32 34 38 53 42 50 68 87 129 103
Total Current Liabilities 2570 2198 2096 1944 2269 2964 3575 3231 3321 4568 5727
Total Liabilities 3258 2998 2956 2919 3448 4276 4957 4654 4999 6608 8218
Fixed Assets 263 359 395 398 574 649 709 885 878 881 950
Other Non-Current Assets 95 63 55 270 77 54 136 102 79 168 260
Total Current Assets 2900 2576 2506 2250 2798 3573 4112 3667 4043 5558 7008
Total Assets 3258 2998 2956 2919 3448 4276 4957 4654 4999 6608 8218

Apar Inds Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 832 1055 231 98 134 123 274 213 164 207 253
Cash Flow from Operating Activities 453 -632 298 412 312 225 632 94 281 244 698
Cash Flow from Investing Activities -208 -12 -59 -223 -166 -5 -388 45 -115 -91 -269
Cash Flow from Financing Activities -23 -181 -369 -153 -157 -69 -293 -189 -123 -106 -184
Net Cash Inflow / Outflow 223 -824 -130 36 -11 152 -49 -49 44 47 245
Closing Cash & Cash Equivalent 1055 231 100 134 123 274 225 164 207 253 499

Apar Inds Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 28.45 23.3 12.86 31.61 46.14 37.82 35.55 35.31 41.94 67.08 166.64
CEPS(Rs) 34.87 30.4 20.94 41.05 57.81 52.42 52.97 58.08 66.35 92.65 193.9
DPS(Rs) 5.25 5.25 3.5 6.5 10 9.5 9.5 9.5 9.5 15 40
Book NAV/Share(Rs) 162.89 180.98 189.56 221.8 270.74 289.59 314.18 304.79 365.7 448.19 584.37
Core EBITDA Margin(%) 6.34 6.01 4.7 6.81 8.17 7.16 6.16 6.55 6.71 5.72 8.64
EBIT Margin(%) 7.51 6.91 4.34 6.35 7.64 6.41 5.52 5.7 5.71 5.5 8.35
Pre Tax Margin(%) 3 2.52 1.29 3.2 5.17 3.75 2.72 2.28 3.26 3.67 5.95
PAT Margin (%) 2.2 1.76 0.88 2.17 3.33 2.44 1.71 1.82 2.51 2.76 4.44
Cash Profit Margin (%) 2.68 2.29 1.44 2.85 4.18 3.38 2.55 2.99 3.98 3.81 5.17
ROA(%) 3.62 2.87 1.66 4.1 5.54 3.75 2.95 2.81 3.33 4.42 8.6
ROE(%) 19.2 13.59 6.93 15.19 18.65 13.5 11.78 11.41 12.51 16.48 32.28
ROCE(%) 24.09 22.77 17.96 28.65 31.32 27.09 30.03 28.82 23.2 27.94 52.72
Receivable days 61.12 68.56 77.13 77.5 80.91 91.85 88.82 99.3 107.4 86.03 72.85
Inventory Days 52.24 63.24 63.81 56.35 60.85 67.79 57.18 64.25 82.68 72.51 59.95
Payable days 115.95 141.49 131.09 139.08 161.57 100.89 42.71 60.39 79.62 58.52 40.84
PER(x) 3.81 6.21 28.78 14.61 16.23 19.13 18.96 8.15 11.31 9.7 15.02
Price/Book(x) 0.67 0.8 1.95 2.08 2.77 2.5 2.15 0.94 1.3 1.45 4.28
Dividend Yield(%) 4.84 3.63 0.95 1.41 1.34 1.31 1.41 3.3 2 2.31 1.6
EV/Net Sales(x) 0.07 0.24 0.36 0.4 0.63 0.49 0.33 0.17 0.29 0.27 0.65
EV/Core EBITDA(x) 0.85 2.94 6.61 5.2 6.79 6.54 5.15 2.43 4.05 4.12 7.18
Net Sales Growth(%) 29.37 -0.41 10.58 -0.85 -4.85 20.42 36.87 -6.76 -13.97 45.84 54.05
EBIT Growth(%) 52.7 -6.35 -30.98 44.81 14.53 -5.71 15.36 -3.59 -13.82 40.47 133.78
PAT Growth(%) 48.62 -18.36 -45.05 143.43 46.53 -17.88 -6 -0.67 18.76 59.96 148.4
EPS Growth(%) 40.11 -18.09 -44.82 145.79 45.97 -18.03 -6 -0.67 18.76 59.96 148.4
Debt/Equity(x) 1.57 1.14 0.68 0.45 0.29 0.33 0.21 0.27 0.19 0.17 0.14
Current Ratio(x) 1.13 1.17 1.2 1.16 1.23 1.21 1.15 1.13 1.22 1.22 1.22
Quick Ratio(x) 0.84 0.71 0.75 0.76 0.8 0.8 0.79 0.72 0.75 0.75 0.77
Interest Cover(x) 1.66 1.57 1.42 2.01 3.09 2.41 1.97 1.67 2.33 3 3.48
Total Debt/Mcap(x) 2.36 1.42 0.35 0.22 0.11 0.13 0.1 0.29 0.15 0.12 0.03

Apar Inds Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 60.46 60.57 60.64 60.64 60.64 60.64 60.64 60.64 57.77 57.77
FII 5.55 5.52 5.94 6.3 6.73 6.66 7.47 9.09 10.97 11.55
DII 18.11 18.5 17.87 16.77 17.53 17.96 17.97 17.05 18.62 18.9
Public 15.87 15.41 15.56 16.29 15.1 14.75 13.92 13.22 12.64 11.78
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 34% CAGR over last 5 years
  • Debtor days have improved from 58.52 to 40.84days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Stock is trading at 8.4 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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