APAR Industries jumps 37% in two days after strong Q3 outcome

APAR Industries jumped 14.07% to Rs 1927.20, rising for the second straight session after strong Q3 results.

Shares of APAR Industries have risen 36.88% in two sessions. It hit an upper circuit limit of 20% to settle at Rs 1,689.45 on Tuesday, 31 January 2023.

The company during trading hours on Tuesday announced that its consolidated net profit surged 210% to Rs 170 crore and revenue jumped 77% to Rs 3,942 crore in Q3 FY23 over Q3 FY22. EBIDTA stood at Rs 349 crore, up 174% YoY.

In the conductor segment, revenue grew 103% YoY with volumes growing 99% YoY during Q3. EBIDTA for the quarter came in at ₹ 227 crores. (up 410% YoY). EBIDTA post forex expanding to 49,942 per MT, owing to an improved product & geography mix. Revenue from premium products increased to 44% in Q3FY23 and exports were up 288% YoY.

The segment order book as on end of Q3FY23 stands Rs 4,885 crore, of which premium product accounts 44%.

In the speciality oils segment, Q3 revenue grew 38% YoY, driven by volume-led growth and base oil prices. Volume up 9% YoY. EBIDTA post forex adjustment was at 1,646 per KI down by 76% YoY.

In the cables solutions segment, Q3 revenue grew 89% YoY, led by strong growth in exports and elastomeric products. Exports tripled vs O3 FY22 and contributed 49% of sales in O3 FY23. EBIDTA post forex adjustment improved to 11.8% in Q3FY23.

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 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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