Apar Industries Ltd.APARINDS₹9,681.50 +11.73%

Shares of Apar Industries Ltd. rose as much as 13% on July 29 after the company reported robust financial performance for Q1 FY26, driven by broad-based growth across its conductor, cable, and specialty oil segments.

Apar reported consolidated revenue of ₹5,104 crores in Q1 FY26, a 27.3% increase over the same period last year. The growth was led by strong performance in the domestic market, which rose 38.3% year-on-year. Export contribution to revenue stood at 31.6%, slightly lower than 37% last year, though the US market stood out with 111.3% YoY growth.

Profit after tax rose 29.9% year-on-year to ₹263 crores, with a stable margin of 5.2%. The earnings growth was supported by high-margin order execution and a favourable shift in product and regional mix, especially in the conductor and cable businesses.

EBITDA (post forex) came in at ₹500 crores, up 27% YoY. The uptick was driven by volume acceleration, better mix of premium products, and strong performance in the US market.

Revenue from the conductor segment jumped 43.9% YoY to ₹2,785 crores. Domestic sales surged 62.9%, while export mix dropped slightly to 20.1%. US revenue rose 82.8% due to a low base. Premium products accounted for 43.5% of sales, up from 37.1% a year ago. EBITDA per MT rose to ₹43,688 from ₹38,532, driven by the stronger mix and US growth. The order book remains healthy at ₹7,779 crores.

While revenue remained flat YoY, the speciality oils segment volumes grew 8.1%. Global transformer oil and automotive oil volumes rose 7.4% and 8.4%, respectively. Export contribution moderated to 36.8% from 45% a year ago. EBITDA per KL improved to ₹7,004 from ₹6,935, reflecting better cost efficiency and product mix.

The cable business reported 36.3% revenue growth YoY, led by export growth of 69.7%. Domestic sales rose 19.7%, while the export mix increased to 41.3% from 33.2%. US sales grew sharply at 136.6% YoY. EBITDA rose 32.2% to ₹142 crores, with a margin of 10.0%, nearly flat compared to 10.3% a year ago.

Over the last three and five years, this stock has given exceptional multibagger returns of more than 800% and 3,110% respectively.

Let’s take a look at its Factor Analysis scores: 

Note: The stock price mentioned is as of 3:30 PM.

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Registered office – 2, Floor 3, Wing A, Block A, Salarpuria Softzone, Service Road, Green Glen Layout, Bellandur, Bengaluru South, Bengaluru, Karnataka – 560103, INDIA.

CIN: U65990KA2021PTC146954.