This stock is Indias largest cable manufacturer for the renewable industry!
The stock is trading at a 52-week high of Rs 1726.
On December 13, the shares of Apar Industries surged 6 per cent and closed trading at Rs 1711.2. The stock opened at Rs 1598.05 and hit a fresh 52-week high of Rs
Apar Industries are manufacturers and suppliers of conductors including a different variety of cables, polymers, speciality oils, and lubricants. It is among the top 3 global leaders in conductors and the largest domestic cable manufacturer for the renewable industry. Established in 1958, it exports to over 140 countries, serving more than 10 industries. According to FY22, about 38.2 per cent of the revenue comes from exports while 61.8 per cent comes from the domestic market.
It operates mainly into four segments- conductors, electrical, telecom and elastomer cables, speciality oils, and lubricants (auto & industrial). Power Grid Corporation of India Limited, Adani Group, and Mazagon Dock Shipbuilders are among the major clients of the company.
Q2FY23 remained the highest-ever quarter for the company in terms of both revenue and net profit generated. For Q2FY23, the company’s consolidated revenue jumped by 42 per cent to Rs 3215 crore from Rs 2262 crore, reported in Q2FY22. While, for the same quarter, consolidated net profit YoY improved by more than 80 per cent. As per the FY22 period ending, the company has an ROE and ROCE of 16.22 per cent and 28.51 per cent, respectively.
About the shareholding pattern, 60.64 per cent of the company’s stake is owned by the promoters, 6.3 per cent by FIIs, 16.76 per cent by DIIs, and the rest 16.3 per cent by non-institutional investors.