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Apar Industries Ltd (APARINDS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532259 NSE: APARINDS Electric Equipment | Mid Cap | Apar Inds Share Price

₹13,869.70 156.05 (1.14%)

As on 05-Jun'26 16:59

Apar Industries Ltd (APARINDS)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532259 NSE: APARINDS Electric Equipment | Mid Cap | Apar Inds Share Price

₹13,869.70 156.05 (1.14%)

As on 05-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹55,094 Cr.
Current Price
₹13,869.7
52-Week Low / High
₹6,800 / 14,080
TTM EPS
₹243.2
TTM Sales
₹22,810 Cr.
Book Value per Share
₹1,342.5
P/E Ratio
56.39
Higher than its 5-year historical median
Industry PE
56.3
Price to Book (P/B)
10.21
Higher than its 5-year historical median
Price to Sales (P/S)
2.42
Higher than its 5-year historical median
EV/EBITDA
28.44
Higher than its 5-year historical median
Dividend Yield
0.92%
Profitability Efficiency
Return on Equity (ROE)
19.61%
In line with industry median
Return on Capital Employed (ROCE)
33.47%
In line with industry median
Return on Assets (ROA)
7.87%
Operating Profit Margin
8.5%
Net Profit Margin
4.42%
Gross Profit Margin
6.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
15.03%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
0.72%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-0.46%
Asset Quality
Promoter Holding
57.77%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹5,353 Cr.
Equity
₹40.2 Cr.
Face Value
₹10
All Time Low / High
₹2.40 / 14080.00

Apar Industries stock performance

Key Ratios
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Check Before You Invest

Valuation

Overvalued

Price Trend

Strong
Q.1 Is Apar Industries Ltd a good quality company?
Apar Industries Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Apar Industries Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Apar Industries Ltd vs industry peers?
Apar Industries Ltd revenue CAGR is 20.14%, compared to the industry median CAGR of 18.37%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Apar Industries Ltd?
Promoters hold 57.77% of the Apar Industries Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Apar Industries Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 38.9% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Apar Industries Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 28.7%31.3%27.1%30%28.8%23.2%27.9%52.7%45.1%33.5%-
Value Creation
Index
1.11.20.91.21.10.71.02.93.02.0-

Growth Parameters

Sales 5,0784,8325,8197,9647,4256,3889,31714,33616,15318,58122,810
Sales YoY Gr.--4.9%20.4%36.9%-6.8%-14%45.8%53.9%12.7%15%-
Adj EPS 31.144.73734.439.140.964.1168.5201.9202.6243.2
YoY Gr.-43.7%-17.3%-7.1%13.7%4.7%56.6%163.1%19.8%0.3%-
BVPS (₹) 221.8270.7289.6314.2304.8365.7448.2584.49651,120.51,342.5
Adj Net
Profit
120171142132150157245645811814977
Cash Flow from Ops. 41231222563294.2281244698-2831,291-
Debt/CF from Ops. 0.911.60.43.40.91.20.4-1.40.4-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 15.5%20.1%25.9%15%
Adj EPS 23.1%39%46.8%0.3%
BVPS19.7%29.7%35.7%16.1%
Share Price 39% 91.3% 71.1% 71.3%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
15.118.113.211.412.612.215.732.626.519.419.8
Op. Profit
Mgn %
7.597.36.26.96.75.78.79.78.58.1
Net Profit
Mgn %
2.33.52.41.722.52.64.554.44.3
Debt to
Equity
0.50.30.30.20.30.20.20.10.10.10.1
Working Cap
Days
15316618216217921018015216015974
Cash Conv.
Cycle
169751101141251119911811424

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales5,0784,8325,8197,9647,4256,3889,31714,33616,15318,581
Operating Expenses + 4,7014,4005,3937,4736,9395,9598,78413,09714,58317,000
Manufacturing Costs376398420560575541633498641723
Material Costs3,8963,5794,4806,3365,7074,8007,20811,07612,54014,739
Employee Cost 91107126148169160172221289338
Other Costs 3383163674304884587701,3011,1131,199
Operating Profit 3784324254904874295331,2401,5701,582
Operating Profit Margin (%) 7.4%8.9%7.3%6.2%6.6%6.7%5.7%8.6%9.7%8.5%
Other Income + 131711162430786384100
Exceptional Items 0000000000
Interest 175131158223254157171344432443
Depreciation 38455667879398104116132
Profit Before Tax 1782732232161692083428551,1061,106
Tax 57977880344885217281284
Profit After Tax 120176145136135161257638825821
PAT Margin (%) 2.4%3.7%2.5%1.7%1.8%2.5%2.8%4.5%5.1%4.4%
Adjusted EPS (₹)31.646.137.835.635.341.967.1166.6205.4204.5
Dividend Payout Ratio (%)20.60%21.70%25.10%26.70%26.90%22.70%22.40%24%24.80%24.90%

Valuation of Apar Inds - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 8541,0361,1081,2021,1661,4001,7152,2363,8764,501
Share Capital 39383838383838384040
Reserves 8159981,0701,1641,1281,3611,6772,1983,8364,461
Debt +347277332218282213234246339343
Long Term Debt8391162130188192195151334298
Short Term Debt2641861708894213994445
Minority Interest0000000000
Trade Payables1,3961,7722,5513,2642,8483,0384,0835,2064,7655,549
Others Liabilities 321363285273357348574529636870
Total Liabilities 2,9193,4484,2764,9574,6544,9996,6088,2189,61611,264

Fixed Assets

Net Fixed Assets +3985746497098858788819501,1931,540
Gross Block4356477768981,1531,2361,3271,4901,8372,294
Accumulated Depreciation3773127189268358445539644754
CWIP 56282010355293899122130
Investments 1121190187060315411219
Inventories7709941,2121,2831,3311,5632,1392,5762,8643,311
Trade Receivables1,0901,2541,7342,1421,8991,8612,5313,1983,9294,078
Cash Equivalents 134123274225176222266530646761
Others Assets 3583573873083083867218108501,224
Total Assets 2,9193,4484,2764,9574,6544,9996,6088,2189,61611,264

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 41231222563294281244698-2831,291
PBT 1782732232161692083428551,1061,106
Adjustment 109102153184292164207357449447
Changes in Working Capital 15937-91304-287-47-214-294-15926
Tax Paid -34-101-60-73-80-44-91-219-247-269
Cash Flow From Investing Activity + -223-166-5-38845-115-91-267-268-705
Capex -123-168-128-208-145-55-129-247-330-507
Net Investments -101-1123-180190-6039-1854-200
Others 13-00000-272
Cash Flow From Financing Activity + -153-157-69-293-189-123-106-186635-483
Net Proceeds from Shares 000000009830
Net Proceeds from Borrowing 14-275-2755214-5219316
Interest Paid -73-68-79-142-154-66-47-121-285-270
Dividend Paid -38-0-38-36-87-0-36-57-153-205
Others -55-86-26-88-3-78-2745-103-24
Net Cash Flow 36-11152-49-49444724584103

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)15.1918.6513.511.7811.4112.5116.4832.282719.61
ROCE (%)28.6531.3227.0930.0328.8223.227.9452.7245.0833.47
Asset Turnover Ratio1.891.661.541.731.551.321.611.941.821.78
PAT to CFO Conversion(x)3.431.771.554.650.71.750.951.09-0.341.57
Working Capital Days
Receivable Days77.5080.9091.9088.8099.30107.408672.8080.2078.50
Inventory Days56.4060.9067.8057.2064.3082.7072.5059.9061.3060.50
Payable Days139.10161.60100.9042.7060.4079.6058.5039.5027.5028.30

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Apar Industries Ltd FAQs

The current trading price of Apar Inds on 05-Jun-2026 16:59 is ₹13,869.7.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 04-Jun-2026 the market cap of Apar Inds stood at ₹55,093.5 Cr

The latest P/E ratio of Apar Inds as of 04-Jun-2026 is 56.57.

The latest P/B ratio of Apar Inds as of 04-Jun-2026 is 10.67.

The 52-week high of Apar Inds is ₹14,080 and the 52-week low is ₹6,800.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Apar Inds is ₹21,906 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Apar Industries Ltd is a good quality company.

The key valuation ratios of Apar Industries Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Apar Industries Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Apar Industries Ltd

Apar Industries is a leading brand-driven organisation delivering impactful solutions across energy infrastructure, mobility, and telecom. With a strong focus on agility and accountability, the company builds future-ready offerings that meet evolving market needs and drive long-term value. It is committed to authentic stakeholder engagement and work to co-create value, strengthen brand loyalty and demonstrate leadership in environmental stewardship.

Its emphasis on brand building has been critical in evolving from a traditional manufacturer to a solution provider and trusted partner. Established brands like POWEROIL and APAR Anushakti have helped set industry benchmarks and reinforce its market credibility. Apar is helping build a smarter, greener future through reliable products that serve millions and support India’s nation-building journey with purpose and brand excellence.

Business area of the company

The company is one among the best-established companies in India, operating in the diverse fields of electrical and metallurgical engineering offering value added products and services in Power Transmission Conductors, Petroleum Speciality Oils, Power & Telecom Cables and House wires.

Business verticals of the company

  • Conductors: A global leader in high-performance conductors, supplying advanced solutions for power transmission, railway and rural electrification to support vital initiatives worldwide. Forward integrated into Turnkey Solutions, completing EPC projects across the nation and neighbouring countries.
  • Cable solutions: It manufactures one of the widest ranges of cables in India. With light duty cable flag ship brands such as Anushakti, Shakti and Fire Protekt, ensuring safe, reliable power and connectivity, strengthening infrastructure through resilient energy distribution.
  • Telecom solutions: It delivers telecom infrastructure for 4G/5G, fibre broadband and data centres, enabling digital inclusion. Supporting railways, renewables and defence, it empowers national security and economic progress through robust, future-ready communication networks.
  • Speciality oils: POWEROIL speciality oils carry a variety of transformer oils, white oils and process oils. Enhances power transformers’ efficiency and reliability to reduce downtime, boost industrial productivity and contribute to India’s global energy leadership.
  • Lubricants: POWEROIL industrial lubricants serve diverse equipment, including rotating machinery, metalworking and quenching applications. POWEROIL, Eni Italy and ARKOS brands offer premium automotive lubricant solutions.
  • Speciality automotive: ARKOS, BOLT and POWEROIL AdBlue brands offer automotive lubricants, batteries, tyres and fluids for electric and conventional vehicles, supporting sustainable mobility solutions. Newly launched ARKOS VETEK for car care products.
  • Polymers: APARPRENE, the flagship brand for polymers, delivers innovative thermoplastic elastomers and speciality compounds for automotive, industrial and consumer applications worldwide.

Awards and accolades

2022

  • Company of the Year: EVSE Manufacturer (Cables) at EV Charge Leadership Awards 2022 – Gujarat.
  • Achieving Zero-Accident Frequency Rate at Rabale plant, recognised by NSC-MC on November 12, 2022.
  • Recognised among Top 100 manufacturing companies by Industrial Products Finder (IPF) 2022.

2023

  • 5 Star Export House Certificate by Government of India on October 13, 2023.
  • Six Platinum Six Sigma Awards at CII 18th Six Sigma National Competition 2023 on September 14, 2023.
  • Best Renewable Cable Manufacturer Award at Net-Zero Energy Leadership Awards 2023 – Tamil Nadu on July 28, 2023.
  • Entrepreneur of the Year 2023 at Business Conclave & Awards – Delhi on July 15, 2023.
  • Gold Certificate at 18th CII Circle Competition on April 27, 2023.
  • Best Use of Technology Award at Logistics & Supply Chain Excellence Award 2023 on February 24, 2023.
  • Listed among Top Cable Companies by Wires and Cables India magazine.

2024

  • Quality Excellence Award from Toshiba – TTDI at the award ceremony held on November 29, 2024.
  • Quality Excellence Award by GE Vernova in November 2024.
  • Platinum 1st Runner-Up Award at 19th CII National Level Six Sigma Competition in November 2024.
  • Platinum Grade Supplier Award from Melbye in November 2024.
  • 1st Prize Plaque Award by National Safety Council (NSC) Maharashtra Chapter in November 2024.
  • Outstanding Vendor Award by SSEL Naini in October 2024.
  • Best CEO Award by Business Today in March 2024.
  • Excellent Performance Award by Power Grid in May 2024.

2025

  • Rotary National CSR Award 2025 by Rotary India at Motilal Oswal Towers, Mumbai in October 2025.
  • Best Quality Supplier Award by GE Vernova.
  • Maharashtra Safety Award 2024 by National Safety Council – Maharashtra Chapter in September 2025.
  • Best Supplier Performance Award from Jakson Green in July 2025.

2026

  • APAR was awarded the EcoVadis Bronze Medal with an 83rd percentile score in the latest global sustainability assessment.
  • APAR clinched prestigious accolades at the 8th Indian Chamber of Commerce (ICC) Social Impact Awards.

Milestones

  • 1969: Diversified into speciality oils with a refinery at Mahul, Chembur.
  • 1998: Expanded oil production capacity with a greenfield plant in Rabale. 
  • 2002: Established a tax-free zone facility in Silvassa for oils and conductors. 
  • 2007: Entered automotive lubricants through an exclusive license with ENI Italy. 
  • 2008: Acquired UNIFLEX to enter the cables business. 
  • 2010: Commissioned a world-class R&D unit at Rabale, enhancing innovation. 
  • 2012: Built India’s largest e-beam facility at APAR Cable Solutions. 
  • 2013: Set up a greenfield conductor plant in Athola. 
  • 2016: Launched eco-friendly dull finish conductors, adding conductor plant in Jharsuguda and Oils plant in Sharjah. 
  • 2018: Commissioned the Sharjah plant and signed a significant agreement with Hindalco. 
  • 2019: Supplied transformer oils for all major HVDC projects in India. 
  • 2020: Revealed a new APAR logo, symbolizing modernization and transformation.
  • 2021: Achieved multiple ‘first Indian company’ milestones – created guidance OFC for torpedoes and received AdBlue certification by VDA-Germany. 
  • 2022: Partnered with Sonu Sood as brand ambassador and expanded international collaborations. 
  • 2023: Achieved record turnover of Rs. 14,352 crore and led major infrastructure projects. Served as Associate Sponsor of Women’s Premier League – launching the 1st National TVC Campaign. 
  • 2024: Raised Rs 1,000 crore through QIP and began a greenfield cable expansion. 
  • 2025: APAR re-certified as a Great Place to Work in January 2025.
  • 2026: APAR Rises to Top 17% Globally in EcoVadis Sustainability Assessment.

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