APARINDS
Apar Industries Limited
Apar Industries Limited (APARINDS) financial statements and selected valuation metrics through 30 June 2026.
Industrials›Capital Goods›Electrical Equipment›Other Electrical Equipment
apar.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹16033.00
Market cap
67,134 Cr
Stock P/E
54.5
P/B
11.94
Dividend yield
0.3%
ROE (FY26)
18.1%
ROCE (FY26)
28.0%
Operating margin (FY26)
7.5%
Debt / equity (FY26)
0.16
OCF / EBITDA (FY26)
51.6%
OCF / EBITDA (3Y)
39.9%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
Apar Industries makes the aluminium and alloy conductors and the power and telecom cables that utilities, railways, defence and overseas power grids use to carry electricity, plus transformer and speciality oils sold to transformer makers and lubricant buyers.
Company snapshot
2ndBy market cap
Ranked among 32 companies in Other Electrical Equipment.
Segment mix
Reportable segments as of 2024-09-30 (Consolidated). Revenue share = segment revenue ÷ total revenue.
Largest segment: 48.9% of revenue
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| Conductors | 48.9% | 4,235 Cr | 393 Cr | — |
| Others | 0.8% | 67 Cr | 5 Cr | — |
| Power/Telecom cables | 26.2% | 2,268 Cr | 208 Cr | — |
| Transformer and speciality Oils | 30.1% | 2,605 Cr | 170 Cr | — |
Shares add up to 106% because segment revenues are before inter-segment eliminations.
What we see
Positives
- ✓Debt-to-equity of 0.16x — the company is largely funded by its own money, not borrowed funds.
Concerns
- ✗Only 40% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.
1 more signal from the filings.Sign in free to see them all
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,926 Cr | 4,013 Cr | 4,455 Cr | 4,011 Cr | 4,645 Cr | 4,716 Cr | 5,210 Cr | 5,104 Cr | 5,715 Cr | 5,480 Cr | 6,603 Cr | 6,591 Cr |
| Operating expenses (approx.) | 3,576 Cr | 3,608 Cr | 4,034 Cr | 3,635 Cr | 4,288 Cr | 4,360 Cr | 4,752 Cr | 4,652 Cr | 5,255 Cr | 5,035 Cr | 6,107 Cr | 5,833 Cr |
| EBITDA | 350 Cr | 405 Cr | 421 Cr | 376 Cr | 357 Cr | 356 Cr | 458 Cr | 452 Cr | 461 Cr | 444 Cr | 496 Cr | 758 Cr |
| OPM % | 8.9% | 10.1% | 9.5% | 9.4% | 7.7% | 7.6% | 8.8% | 8.9% | 8.1% | 8.1% | 7.5% | 11.5% |
| Other income | 19 Cr | 21 Cr | 33 Cr | 16 Cr | 33 Cr | 34 Cr | 17 Cr | 25 Cr | 27 Cr | 15 Cr | 20 Cr | 34 Cr |
| Interest | 103 Cr | 113 Cr | 101 Cr | 90 Cr | 101 Cr | 118 Cr | 100 Cr | 86 Cr | 108 Cr | 106 Cr | 137 Cr | 123 Cr |
| Depreciation | 28 Cr | 29 Cr | 31 Cr | 31 Cr | 32 Cr | 33 Cr | 36 Cr | 38 Cr | 40 Cr | 41 Cr | 42 Cr | 46 Cr |
| Profit before tax | 237 Cr | 284 Cr | 322 Cr | 270 Cr | 257 Cr | 238 Cr | 340 Cr | 353 Cr | 341 Cr | 288 Cr | 329 Cr | 623 Cr |
| Tax % | 26.6% | 23.5% | 26.6% | 25.1% | 24.5% | 26.7% | 26.5% | 25.4% | 26.1% | 27.5% | 22.9% | 24.9% |
| Net profit | 174 Cr | 218 Cr | 236 Cr | 203 Cr | 194 Cr | 175 Cr | 250 Cr | 263 Cr | 252 Cr | 209 Cr | 253 Cr | 467 Cr |
| EPS (₹) | ₹45.44 | ₹56.62 | ₹60.97 | ₹50.42 | ₹48.27 | ₹43.55 | ₹62.23 | ₹65.45 | ₹62.66 | ₹52.01 | ₹63.09 | ₹116.37 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 5,289 Cr | 5,939 Cr | 7,964 Cr | 7,462 Cr | 6,388 Cr | 9,320 Cr | 14,352 Cr | 16,153 Cr | 18,581 Cr | 22,902 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 4,872 Cr | 5,531 Cr | 7,496 Cr | 6,986 Cr | 5,973 Cr | 8,772 Cr | 13,125 Cr | 14,631 Cr | 17,034 Cr | 21,026 Cr | Sign in free for the trailing twelve months |
| EBITDA | 417 Cr | 408 Cr | 468 Cr | 476 Cr | 415 Cr | 548 Cr | 1,227 Cr | 1,522 Cr | 1,547 Cr | 1,876 Cr | Sign in free for the trailing twelve months |
| OPM % | 7.9% | 6.9% | 5.9% | 6.4% | 6.5% | 5.9% | 8.5% | 9.4% | 8.3% | 8.2% | Sign in free for the trailing twelve months |
| Other income | 16 Cr | 11 Cr | 15 Cr | 8 Cr | 22 Cr | 32 Cr | 37 Cr | 86 Cr | 99 Cr | 65 Cr | Sign in free for the trailing twelve months |
| Interest | 114 Cr | 140 Cr | 200 Cr | 228 Cr | 136 Cr | 141 Cr | 306 Cr | 387 Cr | 409 Cr | 437 Cr | Sign in free for the trailing twelve months |
| Depreciation | 45 Cr | 56 Cr | 67 Cr | 87 Cr | 93 Cr | 98 Cr | 104 Cr | 116 Cr | 132 Cr | 161 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 274 Cr | 223 Cr | 216 Cr | 169 Cr | 208 Cr | 342 Cr | 855 Cr | 1,106 Cr | 1,106 Cr | 1,310 Cr | Sign in free for the trailing twelve months |
| Tax % | 35.5% | 35.0% | 37.1% | 20.2% | 22.9% | 24.9% | 25.4% | 25.4% | 25.7% | 25.4% | Sign in free for the trailing twelve months |
| Net profit | 177 Cr | 145 Cr | 136 Cr | 135 Cr | 161 Cr | 257 Cr | 638 Cr | 825 Cr | 821 Cr | 977 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹45.88 | ₹37.82 | ₹35.55 | ₹35.32 | ₹41.94 | ₹67.09 | ₹166.64 | ₹212.10 | ₹204.47 | ₹243.21 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 0.1% | 14.2% | 9.0% | 18.5% | 24.9% | 21.0% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 38 Cr | 38 Cr | 38 Cr | 38 Cr | 38 Cr | 38 Cr | 38 Cr | 40 Cr | 40 Cr | 40 Cr |
| Reserves | 998 Cr | 1,070 Cr | 1,164 Cr | 1,128 Cr | 1,371 Cr | 1,677 Cr | 2,198 Cr | 3,836 Cr | 4,463 Cr | 5,353 Cr |
| Borrowings | 277 Cr | 332 Cr | 218 Cr | 282 Cr | 213 Cr | 253 Cr | 304 Cr | 406 Cr | 470 Cr | 841 Cr |
| Other liabilities | 2,135 Cr | 2,829 Cr | 3,601 Cr | 3,205 Cr | 3,386 Cr | 4,639 Cr | 5,677 Cr | 5,334 Cr | 6,290 Cr | 7,477 Cr |
| Total liabilities | 3,448 Cr | 4,269 Cr | 5,021 Cr | 4,654 Cr | 5,009 Cr | 6,608 Cr | 8,218 Cr | 9,616 Cr | 11,264 Cr | 13,711 Cr |
| Fixed assets (net) | 564 Cr | 642 Cr | 704 Cr | 830 Cr | 876 Cr | 880 Cr | 949 Cr | 1,130 Cr | 1,432 Cr | 1,609 Cr |
| CWIP | 28 Cr | 20 Cr | 103 Cr | 55 Cr | 29 Cr | 38 Cr | 99 Cr | 121 Cr | 128 Cr | 539 Cr |
| Investments | 119 Cr | — | 187 Cr | 0 Cr | 60 Cr | 31 Cr | 54 Cr | 11 Cr | 219 Cr | 44 Cr |
| Loans & advances | — | — | 22 Cr | 30 Cr | 17 Cr | 7 Cr | 5 Cr | 1 Cr | 1 Cr | 1 Cr |
| Inventories | 994 Cr | 1,212 Cr | 1,283 Cr | 1,331 Cr | 1,563 Cr | 2,139 Cr | 2,576 Cr | 2,864 Cr | 3,311 Cr | 4,153 Cr |
| Trade receivables | 1,254 Cr | 1,728 Cr | 2,142 Cr | 1,899 Cr | 1,861 Cr | 2,531 Cr | 3,198 Cr | 3,929 Cr | 4,078 Cr | 5,334 Cr |
| Cash & bank | 110 Cr | 244 Cr | 213 Cr | 164 Cr | 209 Cr | 253 Cr | 499 Cr | 584 Cr | 686 Cr | 669 Cr |
| Other assets | 380 Cr | 424 Cr | 368 Cr | 345 Cr | 393 Cr | 729 Cr | 837 Cr | 976 Cr | 1,408 Cr | 1,362 Cr |
| Total assets | 3,448 Cr | 4,269 Cr | 5,021 Cr | 4,654 Cr | 5,009 Cr | 6,608 Cr | 8,218 Cr | 9,616 Cr | 11,264 Cr | 13,711 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 312 Cr | 225 Cr | 632 Cr | 94 Cr | 324 Cr | 244 Cr | 698 Cr | -283 Cr | 1,291 Cr | 968 Cr |
| Cash from investing | -166 Cr | -5 Cr | -388 Cr | 45 Cr | -111 Cr | -91 Cr | -269 Cr | -268 Cr | -705 Cr | -558 Cr |
| Cash from financing | -157 Cr | -69 Cr | -293 Cr | -189 Cr | -167 Cr | -106 Cr | -184 Cr | 635 Cr | -483 Cr | -434 Cr |
| Net cash flow | -11 Cr | 152 Cr | -49 Cr | -49 Cr | 45 Cr | 46 Cr | 246 Cr | 85 Cr | 102 Cr | -18 Cr |
| Free cash flow (OCF − Capex) | 141 Cr | 97 Cr | 424 Cr | -51 Cr | 268 Cr | 113 Cr | 451 Cr | -614 Cr | 781 Cr | 231 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 29.6% | 25.2% | 29.3% | 27.4% | 21.2% | 24.5% | 45.7% | 34.9% | 30.5% | 28.0% |
| ROE % | 17.0% | 13.1% | 11.3% | 11.6% | 11.4% | 15.0% | 28.5% | 21.3% | 18.2% | 18.1% |
| Debtor days | 86 | 106 | 98 | 93 | 106 | 99 | 81 | 89 | 80 | 85 |
| Inventory days | 102 | 100 | 73 | 84 | 122 | 105 | 85 | 83 | 81 | 81 |
| Days payable | 181 | 211 | 186 | 180 | 237 | 202 | 173 | 140 | 136 | 133 |
| Cash conversion cycle | 7 | -5 | -15 | -3 | -9 | 2 | -6 | 32 | 25 | 32 |
| OCF / EBITDA % | 75.0% | 55.2% | 135.1% | 19.8% | 77.9% | 44.5% | 56.9% | -18.6% | 83.4% | 51.6% |
| OCF / EBITDA % (3 years) | — | — | 90.5% | 70.4% | 77.2% | 46.0% | 57.8% | 20.0% | 39.7% | 39.9% |
| Debt / equity | 0.27 | 0.30 | 0.18 | 0.24 | 0.15 | 0.15 | 0.14 | 0.10 | 0.10 | 0.16 |
| Current ratio | 1.23 | 1.21 | 1.14 | 1.13 | 1.22 | 1.22 | 1.22 | 1.54 | 1.47 | 1.45 |
| Net debt / EBITDA | 0.40 | — | 0.01 | 0.25 | 0.0090 | -0.0006 | -0.16 | -0.12 | -0.14 | 0.09 |