Apar Inds soars after stellar Q3 performance

Apar Industries zoomed 18.33% to Rs 1665.90 after the company reported a consolidated net profit of Rs 170 crore, which is higher by 210% as compared with Rs 55 crore recorded in the same period last year.

Revenue increased by 77% YoY to Rs 3,942 crore during the quarter.

In the Conductor business, the company recorded revenue growth of 103% YoY with volumes growing 99% YoY during Q3. Order book as on end of Q3FY23 stands ₹ 4,885 crores, of which premium product accounts 44%.

Q3 revenue of the Speciality Oils business grew 38% YoY, driven by volume-led growth and base oil prices. Volume growth was 9% YoY during the period under review.

The Cables Solutions business recorded 89% YoY rise in revenue, led by strong growth in exports and elastomeric products. Exports tripled as compared with Q3 FY22 and contributed 49% of sales in Q3 FY23.

EBIDTA improved by 174% to Rs 349 crore in Q3 FY23 over Q3 FY22.

Kushal N Desai, chairman & MD of APAR Industries, said, "The third quarter continued its momentum by recording historic high top-line as well as bottom-line. We witnessed volume growth across all the three divisions and the net profit tripled on a year-on-year basis.

We are optimistic about the growth prospects of our company as we believe we are appropriately placed to tap the benefits of infra-led spends, push towards renewable energy as well as China+1."

APAR Industries is a diversified billion-dollar conglomerate with a strong presence in over 140 countries. As the largest aluminium and alloy conductor manufacturer and the 3rd largest transformer oil manufacturer, the company enjoys a leadership position in the global markets. APAR also offers over 350 grades of speciality oils, the largest range of speciality cables, lubricants, speciality automotive and polymers.

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