APARINDS

Apar Industries share price & results

Apar Industries Limited· Capital Goods· Industrials

Results to
Sept 2026
Latest analysed call
Q2 FY27
Ownership as of
Sept 2026

Global manufacturer of power conductors, transformer oils/lubricants and power, telecom & speciality cables.

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Guidance Hit Rate
14 targets · 80% hit rate 4 achieved · 9 active →
Segment Shift
4 segments tracked See revenue & margin mix below →
Reverse DCF
Implied Growth Test priced-in growth in DCF tool →
Concall & Tone
Q2 FY27 analysed Read claims, qualifiers & Q&A →

Price & Snapshot

₹14,205 −2.53% · −₹368

Last close 9 Nov 2026 · NSE · INR · Source: Inve

Performance +71.5% 1Y

₹10k₹15kNov 25Dec 25Feb 26Mar 26May 26Jun 26Aug 26Sept 26Nov 26Q3 FY26 — 4 Feb 2026Q4 FY26 — 27 May 2026Q1 FY27 — 24 Jul 2026Q2 FY27 — 29 Oct 2026

1Y: ₹8,280.5 on 7 Nov 2025 → ₹14,205. High ₹18,945 (21 Sept 2026), low ₹6,966 (21 Jan 2026).

Previous close
₹14,573
Market cap
₹67.0k Cr
52-week range
₹6,966 – ₹18,945
One year
+71.56%
Price to earnings (TTM to Sept 2026)
47.85×
Return on equity (TTM to Sept 2026)
16.43%

Reported

Key financial metrics & valuation ratios

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue25.0 ₹ crore−7.4% YoYQuarterly, as filedQuarter to Sept 2026Revenue from operations as filed.
Operating margin10.0 %+2.0 pts YoYOperating profit / revenueQuarter to Sept 2026For the quarter; a change is in percentage points.
Net profit435 ₹ crore+71.3% YoYQuarterly, as filedQuarter to Sept 2026Profit after tax as filed.
Return on equity16.43 %+0.8 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026
Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin1.03 %−3.2 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026
(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)23.43 %+8.2 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026
Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Sept 2026

Business Mix

Where revenue comes from

Conductors grew from 47% to 48% of revenue over the last two years.

Conductors 48.1% · ₹3,338.13 Cr +19.9% YoY
Power/ Telecom cables 26.5% · ₹1,838.06 Cr
Transformer and speciality oils 24.5% · ₹1,700.87 Cr +34.8% YoY
Others 1.0% · ₹68.70 Cr +75.7% YoY

Explore full multi-period segment shift & margins →

Guidance

What management said, and what became of it

4 of 5 judged targets kept · 9 open · verdicts reflect calls analysed to Q2 FY27.

Apar Industries Limited management guidance track record on Inve: 14 targets tracked across analysed earnings calls (4 achieved, 1 missed, 9 open).

Delivering on Operations (1/1 achieved), while Growth (2 need watch) is lagging.

TargetOriginal wordingSaidLatest callVerdict
Operations Conductor EBITDA per MT
₹28,500 on an Annual Basis
Call transcript, Q3 FY25 · 28 Jan 2025
Q3 FY25
Q2 FY27:Promise concluded in FY26. Q2 FY27 EBITDA/MT was ₹48,241 (H1 FY27 at ₹50,739), continuing to far exceed the original target.
Call transcript, Q2 FY27 · 29 Oct 2026
Achieved
Growth Conductor Division Volume Growth
about 10 percentage on volume terms for Annual period
Call transcript, Q3 FY25 · 28 Jan 2025
Q3 FY25
Q2 FY27:Promise concluded and ghosted in FY26.
Call transcript, Q2 FY27 · 29 Oct 2026
Ghosted
Growth Conductor Division Volume Growth
10% YoY for FY27
Call transcript, Q4 FY26 · 28 May 2026
Q4 FY26
Q2 FY27:Q2 FY27 volume fell 9.2% YoY (H1 down ~8-9%) as TBCB awardees deferred clearances amid metal inflation. Management expects H2 volumes to improve, but achieving +10% YoY for the full year is severely at risk.
Call transcript, Q2 FY27 · 29 Oct 2026
At Risk

Source: Inve Guidance Tracker for Apar Industries Limited · to Q2 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

1 of Apar Industries Limited's 14 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 11 more targets are in the full ledger.

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Sector context

Sector call context

Shared sector pressures matched to this company’s latest reporting period.

Similar pressures reported by peers

Tailwind coverage is not available yet.

Similar commentary provides sector context; it does not establish a business relationship with Apar Industries Limited. Each comparison matches a headwind disclosed by Apar Industries Limited in the same calendar reporting quarter.

  • LatAm/Europe freight rose 2-3x and ~INR800 crores of US DDP sales were in transit

    Topic: Freight and shipping · Logistics supply chain · Q2 FY27

    Apar Industries Limited reported: LatAm/Europe freight rose 2-3x and ~INR800 crores of US DDP sales were in transit; management says rates are starting to reverse in Q3.

    Reporting period ended 2026-09-30

    23 other companies · Logistics supply chain

    APL Apollo Tubes Limited (APLAPOLLO) reported (period ended 2026-09-30): High container shipping costs have severely restricted export sales from Indian manufacturing plants.

    AIA Engineering Limited (AIAENG) reported (period ended 2026-09-30): Red Sea and Strait of Hormuz tensions have lengthened transit lead times and increased freight costs to ~10% of revenue, acting as a major commercial friction point in closing new customer conversions.

    Mtar Technologies Limited (MTARTECH) reported (period ended 2026-09-30): Management noted there is no impact on exports/shipments, though certain consumable costs have risen due to geopolitical situations.

    Gallantt Ispat Limited (GALLANTT) reported (period ended 2026-09-30): Coal raised raw material cost by 4.5-5% (~₹2,500/ton) and iron ore by 1%; sponge and pig iron prices rose sharply in the second half of the quarter

    Evidence drawer

    Evidence type: Summary paraphrase

    LatAm/Europe freight rose 2-3x and ~INR800 crores of US DDP sales were in transit; management says rates are starting to reverse in Q3.

    Source company: Apar Industries Limited · Reporting period ended 2026-09-30 · Calendar quarter: Q2 FY27 · Distinct companies matched: 23

    Similar commentary provides sector context; it does not establish a business relationship.

From available earnings-call summaries. Disclosures are management statements, not independently verified transactions.

Live Summary

APARINDS ₹14,205 −2.53%
Guidance Verdict (14 tracked) 4 kept · 9 open· 1 missed
AI Call Brief · Q2 FY27

Apar Industries Limited Q2 FY27

Overview

Symbol
NSE:APARINDS
Industry
Industrials
Exchange
NSE
Currency
INR

What Apar Industries Limited does

Based on the company's own presentations, annual report and earnings calls.

Apar Industries manufactures power-transmission conductors, speciality transformer and industrial/automotive oils and lubricants (POWEROIL brand), and power, telecom and speciality/renewable cables (Anushakti, Shakti, Fire Protekt brands) across three reported segments — Conductors, Speciality Oils & Lubricants, and Cables. It runs 11 manufacturing plants (10 in India, 1 in Sharjah, UAE) and serves over 4,000 clients in 140+ countries through a network of 18 depots/warehouses and offices across India and overseas, combining domestic sales with exports including a scaling US business. It also makes speciality automotive lubricants and fluids (ARKOS, BOLT, POWEROIL AdBlue) and thermoplastic elastomer compounds for automotive and industrial use under the APARPRENE brand.

Segments

  • Conductors
  • Speciality Oils & Lubricants
  • Cable Solutions (incl. Telecom)
Manufacturing plants
11 (10 in India, 1 in Sharjah, UAE)
Countries served
140+
Global clients
4,000+
Depots and warehouses
18
Offices
16 across India, 2 overseas
Market position — transformer oils
#1 in India, #3 globally
Headquarters Mumbai, Maharashtra (registered office in Vadodara, Gujarat)Employees 2,056 (FY2024-25) Company website

How the price took the results

Moved an average of ±2.9% across the last 4 priced result releases

Close before → close after
QuarterReleaseRevenue (₹ Cr) Net profit (₹ Cr)Rev YoYBefore → AfterReaction
Q2 FY2729 Oct 2625 435−7.4%₹15,419 → ₹15,846+2.8%
Q1 FY2724 Jul 2633 453+10.0%₹13,423 → ₹13,889+3.5%
Q4 FY2628 May 2630 255+66.7%₹13,426 → ₹13,118−2.3%
Q3 FY264 Feb 2615 208−25.0%₹9,759 → ₹9,476.5−2.9%

The move from the last close before each results date to the first close on or after it — the market's first read on the quarter alongside what was filed.

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Other Capital Goods companies

PEER COMPARISON
Median ₹66,992 Cr Mkt Cap
₹0 Cr₹50,000 Cr₹1.0L Cr₹1.5L CrApar Industries Limited (APARINDS): ₹66,992 Cr₹66,992 CrAPARINDSAshok Leyland Limited (ASHOKLEY): ₹1.0L Cr₹1.0L CrASHOKLEYSiemens Energy India Limited (ENRIN): ₹1.0L Cr₹1.0L CrENRINMazagon Dock Shipbuilders Limited (MAZDOCK): ₹75,734 Cr₹75,734 CrMAZDOCKWaaree Energies Limited (WAAREEENER): ₹69,266 Cr₹69,266 CrWAAREEENERINDOMIM (INDOMIM): ₹63,001 Cr₹63,001 CrINDOMIMAPL Apollo Tubes Limited (APLAPOLLO): ₹60,946 Cr₹60,946 CrAPLAPOLLOWelspun Corp (WELCORP): ₹58,089 Cr₹58,089 CrWELCORPAditya Infotech Limited (CPPLUS): ₹51,810 Cr₹51,810 CrCPPLUS

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Quick Answers

Frequently asked questions on Apar Industries Limited

Compiled directly from APARINDS's filed financial statements, earnings call transcripts, and ownership disclosures.

How did Apar Industries Limited (APARINDS) perform in its latest reported quarter (Sept 2026)?

For the quarter ended Sept 2026, Apar Industries Limited reported revenue of ₹25 Cr, net profit of ₹435 Cr, an operating margin of 10.0%. Diluted earnings per share stood at ₹103.93.

How is Apar Industries Limited (APARINDS) valued today, and what growth does the stock price imply?

Apar Industries Limited (APARINDS) trades at ₹14,205, with a market capitalization of ₹67.0k Cr.

Who owns Apar Industries Limited (APARINDS) — promoters, FIIs, DIIs, and mutual funds?

As of Sept 2026, Promoters hold 55.4%, FIIs hold 12.6%, DIIs hold 23.8%, Public shareholders hold 8.2%.

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