Makes electrical conductors, power and telecom cables, and transformer and speciality oils, with operations spread across 11 facilities in 6 countries. For FY26, consolidated revenue was ₹22,902.12 crore and EBITDA margin was 8.33%. The conductor segment is the largest at 51.9% of FY26 segment revenue (₹12,711.95 crore) and primarily serves overhead power transmission utilities, with Q1 FY27 EBITDA per ton of ₹53,418. The conductor order book stood at ₹10,190 crore (56.8% export), with multi-year contracts worth over ₹2,800 crore secured from US and European utilities in that quarter; premium products made up 50.3% of conductor sales. Power and telecom cables contributed 25.4% of segment revenue (₹6,219.51 crore) with Q1 FY27 EBITDA margin of 10.6%; approvals from Meta, Microsoft and Google have opened a copper-cable RFQ pipeline for data centres, alongside domestic railway and defence demand. Transformer and speciality oils contributed 21.9% of FY26 segment revenue (₹5,373.07 crore), with Q1 FY27 EBITDA per kilolitre reaching ₹25,482. Raw materials — primarily aluminum, copper and base oils — account for 81.6% of FY26 revenue, making input-cost pass-through a central operational feature; employees account for 1.9% and other operating expenses 10.9%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Conductor (52%), Power / Telecom cables (25%), Transformer and speciality oils (22%), Others (1%). Asset-heavy manufacturer of conductors, cables and speciality oils with high raw-material intensity and exposure to metal-price volatility
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 9,320 | 14,352 | 16,153 | 18,581 | 22,902 |
| EBITDA (ex other income) | 548 | 1,227 | 1,522 | 1,547 | 1,843 |
| margin % | 5.9 | 8.5 | 9.4 | 8.3 | 8.0 |
| Owners' profit | 352 | 638 | 825 | 821 | 977 |
| EPS, as reported (₹) | 67.09 | 166.64 | 212.10 | 204.47 | 243.21 |
| ROE % · ROCE % | 15.0 · 23.7 | 28.5 · 46.6 | 21.3 · 34.7 | 18.2 · 30.7 | 18.1 · 29.2 |
| Debt / equity (x) | 0.15 | 0.14 | 0.10 | 0.10 | 0.16 |
| Cash from operations | 244 | 698 | (283) | 1,291 | 968 |
| Capex | (130) | (248) | (331) | (510) | (737) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,645 | 4,716 | 5,210 | 5,104 | 5,715 | 5,480 | 6,603 | 6,591 |
| Profit before tax | 257 | 239 | 340 | 353 | 341 | 288 | 329 | 622 |
| Net profit | 194 | 175 | 250 | 263 | 252 | 209 | 253 | 467 |
| EPS (₹) | 48.27 | 43.55 | 62.23 | 65.45 | 62.66 | 52.01 | 63.09 | 116.37 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Conductor | 3,764 | 15.4 |
| Transformer and speciality oils | 5,373 | 21.9 |
| Power / Telecom cables | 6,220 | 25.4 |
| Others | 196 | 0.8 |
| Conductors | 8,948 | 36.5 |
| Total, before eliminations | 24,501 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · Newspaper notice for special window to re-lodge physical share transfers | compliance | minimal | — | — |
| 10 Sept 2026 · CARE Ratings upgrades APAR Industries long-term rating to AA; Stable | credit debt | medium | — | — |
| 26 Aug 2026 · APAR Industries publishes notice for 37th AGM in newspapers | compliance | minimal | — | — |
| 25 Aug 2026 · APAR Industries fixes Sept 14 record date for dividend and 37th AGM | corporate actions | high | — | — |
| 25 Aug 2026 · APAR Industries files FY 2025-26 BRSR with reasonable assurance | compliance | medium | — | — |
| 25 Aug 2026 · APAR Industries files 37th AGM notice and Integrated Annual Report for FY26 | board shareholder meetings | medium | — | — |
| 25 Aug 2026 · APAR Industries files FY26 Integrated Annual Report; 37th AGM set for Sept 21, 2026 | compliance | low | — | — |
| 21 Aug 2026 · APAR Industries 37th AGM notice published in newspapers | compliance | minimal | — | — |
| 13 Aug 2026 · APAR Industries raises about Rs 2,500 cr via QIP at premium to floor price | fund raising | high | — | — |
| 13 Aug 2026 · APAR Industries QIP closes at Rs 14,805 per share, raises about Rs 2,500 crore | fund raising | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| WAAREE ENERGIES LIMITED |
| 75,508 |
| 19.8 |
| 5.03 |
| 12.2 |
| 25.9 |
| 29.0 |
| — |
| 20.3 |
| APAR INDUSTRIES LTD. ◆ | 70,293 | 59.5 | 13.03 | 36.9 | 18.1 | 21.9 | 29.1 | 12.0 |
| PREMIER ENERGIES LIMITED | 44,224 | 26.2 | 10.26 | 18.0 | 35.0 | 25.7 | — | 30.8 |
| EMMVEE PHOTOVOLTAIC PWR L | 23,872 | 17.9 | 6.46 | 13.3 | 29.3 | 31.2 | — | 36.3 |
| MTAR TECHNOLOGIES LIMITED | 22,531 | 168.8 | 27.39 | 120.2 | 11.4 | 12.4 | 28.9 | 25.8 |
| DIAMOND POWER INFRA LTD | 19,448 | 98.9 | — | 94.7 | (26.2) | 8.6 | — | 12.3 |
| AVALON TECHNOLOGIES LTD | 15,293 | 114.3 | 21.19 | 76.2 | 15.6 | 20.0 | — | 12.5 |
| GENUS POWER INFRASTRU LTD | 9,830 | 13.7 | 4.43 | 12.1 | 26.7 | 22.7 | 50.8 | 22.1 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 59.5 | 26.2 | 47 of 53 | 12% |
| P/B | 13.0 | 3.6 | 45 of 49 | 8% |
| ROCE | 21.9 | 12.3 | 17 of 56 | 71% |
| ROE | 18.1 | 11.5 | 18 of 53 | 67% |
| Debt / Equity | 0.2 | 0.2 | 22 of 53 | 60% |
| EBITDA margin | 12.0 | 12.6 | 28 of 51 | 46% |
| Revenue growth | 29.1 | 20.7 | 20 of 46 | 58% |
| Profit growth | 77.8 | 37.7 | 16 of 45 | 66% |
| Market cap | 70293 | 641 | 2 of 56 | 98% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
