Apar Industries share price
NSE: APARINDSBSE: 532259Electrical EquipmentMid Cap
Share price at the NSE close on 28 Oct 2026. Previous close ₹15,153.00.
28 Oct: open ₹15,230.00, high ₹15,495.00, low ₹14,977.00
- Next results date: the board meets on 29 Oct 2026 to consider: financial results. The notice · Results calendar
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹64,563 Cr209th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 54.64
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 11.97
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.39%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 23.9%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 31.9%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.16
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 1,47,95945.8% delivered
About Apar Industries
Apar Industries Limited makes conductors, cables and transformer oils, and carries out turnkey projects, for the generation, transmission and distribution of electricity.1 Its customers include power transmission and distribution utilities and industrial companies in sectors such as railways, defence, shipping, mining and telecom.2 It manufactures in India and in Sharjah in the UAE.3
Its businesses are conductors, cable solutions, telecom solutions, speciality oils, lubricants, speciality automotive products and polymers.4 It reports results in segments for conductors, transformer and speciality oils, and power and telecom cables.5 Its plants in India are in Gujarat, Maharashtra, Odisha and Dadra and Nagar Haveli.43 It has customers in more than 140 countries.2
It was incorporated in 1989.6 Its overseas subsidiaries include companies in Singapore, the UAE, the US, Saudi Arabia and Brazil.78 Its promoters include Kushal N. Desai, its Chairman and Managing Director, and his brother Chaitanya N. Desai, its Managing Director.910 Chaitanya N. Desai held 22.70% of the shares at the end of Mar 2026.10
Apar Industries key points
Results
- Consolidated revenue was ₹6,591 crore in the quarter to Jun 2026, up 29.1% from a year earlier. EBITDA post open period forex (the company's measure of operating profit before interest, tax and depreciation) was ₹814 crore, and net profit rose 77.7% to ₹467 crore.11
- Oil division revenue rose 34.7% to ₹1,701 crore in the quarter to Jun 2026 and EBITDA post open period forex rose 214.2% to ₹329 crore. Oil division volume fell 13.7%, with its UAE plant held back by the closure of Hamriyah port.1213
- In the year to Mar 2026, consolidated revenue reached a record ₹22,902 crore, EBITDA post open period forex rose 23.0% to ₹2,067 crore and net profit rose 19.0% to ₹977 crore.14
- The board recommended a dividend of ₹60 per share for the year to Mar 2026, subject to shareholder approval.15
Market position
- The company says it holds the highest number of UL certificates of compliance (US product safety certification) from India for cable sales in the United States.16
- It has executed more than 272 turnkey reconductoring projects (replacing a power line's wires with higher-capacity ones) covering 7,075 circuit kilometres, and the company says it is the only approved Indian supplier of copper conductors to the Ahmedabad Mumbai bullet train project.17
Business segments
- Segment revenue before inter-segment sales, year to Mar 2026185
Item year to Mar 2026 Conductors ₹12,712 crore, up 32.7% Cables ₹6,220 crore, up 25.8% Transformer and speciality oils ₹5,373 crore, up 5.6% - Conductors. Overhead power line conductors, including high-temperature low-sag (HTLS) conductors, optical ground wires, railway conductors, enamelled strips, and copper rods, wires and strips, plus turnkey reconductoring projects. Premium products were 50.3% of conductor revenue in the quarter to Jun 2026, against 43.7% a year earlier.1920
- Cables. Power cables, house wires, control and instrumentation cables, electron-beam treated cables, solar and wind cables, optical fibre and telecom cables, harnesses and railway cables. House wire brands include APAR Anushakti and APAR Shakti.2116
- Transformer and speciality oils. POWEROIL transformer oils for insulating and cooling power transformers, industrial oils and lubricants, rubber process oils, and white oils and petroleum jelly for pharmaceutical, cosmetic and food packaging uses.22
Where revenue comes from
- Exports were roughly 30% of consolidated revenue in the year to Mar 2026. In the quarter to Jun 2026 exports were 27.5% of revenue, against 31.6% a year earlier.2324
- US revenue grew nearly 50% in the year to Mar 2026, the company said. In the quarter to Jun 2026 US revenue fell 11.1% year on year and 14.6% on the previous quarter.2526
Order book
- The conductor order book (orders received but not yet delivered) was ₹10,190 crore at the end of Jun 2026, 56.8% for export. New conductor orders that quarter were ₹5,245 crore, 65.8% for export, including orders over ₹2,800 crore from overseas utilities, deliverable over 4 years.27
- The cable order book was ₹1,925 crore at the end of Jun 2026, against ₹1,653 crore a year earlier.28
Customers and partners
- On its earnings call of 24 Jul 2026, the company said it was approved in the US to supply cables, through electrical contractors, to data centres of Meta, Microsoft and Google.29
- Its transformer oils hold approvals from utilities including SEC (Saudi Arabia), TNB (Malaysia), Eskom (South Africa) and Power Grid (India), and from transformer makers including Siemens, Hitachi, Toshiba and CG Power.30
- It has a technology tie-up with CTC Global of the US for ACCC conductors (aluminium conductors with a composite core) and a licence from Eni of Italy for Eni-brand automotive lubricants.31
Expansion and capital spending
- The company stated in its annual report for the year to Mar 2026 that it plans capital spending of ₹1,500 crore in the year to Mar 2027, and is sizing cable capacity for wind, solar and data-centre demand.32
- The company stated in its annual report for the year to Mar 2026 that it targets 25% annual value growth in its cables business.32
- On its earnings call of 24 Jul 2026, the company said its cable EBITDA post open period forex margin of 10.6% in the quarter to Jun 2026 was in line with its guidance of about 10% to 11%.2933
- Capacity utilisation ranged from 80% to 90% across product categories, the company said on its earnings call of 24 Jul 2026.34
Recent events
- On 9 Sep 2026, CARE Ratings upgraded its long-term rating on the company's bank facilities (an opinion on how likely the company is to repay) to CARE AA; Stable from CARE AA-; Stable, with the short-term rating at CARE A1+.35
- On 13 Aug 2026, the company closed a qualified institutions placement (a sale of new shares to large institutional investors), allocating 16,88,618 equity shares at ₹14,805 each.36
Last updated
All 36 sources, each with its page
- 1. Annual report, 25 Aug 2026, page 3
- 2. Annual report, 25 Aug 2026, page 111
- 3. Annual report, 25 Aug 2026, page 14
- 4. Annual report, 25 Aug 2026, page 55
- 5. Exchange filing, 24 Jul 2026, page 4
- 6. Annual report, 25 Aug 2026, page 79
- 7. Annual report, 25 Aug 2026, page 90
- 8. Annual report, 25 Aug 2026, page 106
- 9. Annual report, 25 Aug 2026, page 100
- 10. Annual report, 25 Aug 2026, page 85
- 11. Investor presentation, 24 Jul 2026, page 2
- 12. Investor presentation, 24 Jul 2026, page 4
- 13. Earnings call, 24 Jul 2026, page 5
- 14. Annual report, 25 Aug 2026, page 88
- 15. Annual report, 25 Aug 2026, page 86
- 16. Annual report, 25 Aug 2026, page 31
- 17. Annual report, 25 Aug 2026, page 27
- 18. Annual report, 25 Aug 2026, page 89
- 19. Annual report, 25 Aug 2026, page 26
- 20. Earnings call, 24 Jul 2026, page 4
- 21. Annual report, 25 Aug 2026, page 56
- 22. Annual report, 25 Aug 2026, page 34
- 23. Annual report, 25 Aug 2026, page 12
- 24. Earnings call, 24 Jul 2026, page 3
- 25. Annual report, 25 Aug 2026, page 12
- 26. Investor presentation, 24 Jul 2026, page 2
- 27. Investor presentation, 24 Jul 2026, page 3
- 28. Investor presentation, 24 Jul 2026, page 5
- 29. Earnings call, 24 Jul 2026, page 5
- 30. Annual report, 25 Aug 2026, page 35
- 31. Annual report, 25 Aug 2026, page 57
- 32. Annual report, 25 Aug 2026, page 12
- 33. Earnings call, 24 Jul 2026, page 8
- 34. Earnings call, 24 Jul 2026, page 10
- 35. Exchange filing, 10 Sep 2026, page 1
- 36. Exchange filing, 13 Aug 2026, page 1
Results
Consolidated; ₹ crore.Apar Industries quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +24.0%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +34.0%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹6,591 Crdown 0.18%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹467 Crup 84.44%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 7.1%
Revenue by quarter
Net profit by quarter, a loss in red
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,645 | 4,716 | 5,210 | 5,104 | 5,715 | 5,480 | 6,603 | 6,591 |
| Net profit | 194 | 175 | 250 | 263 | 252 | 209 | 253 | 467 |
| Net margin | 4.2% | 3.7% | 4.8% | 5.2% | 4.4% | 3.8% | 3.8% | 7.1% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹22,902 Crup 23.25%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹977 Crup 18.95%
- Net margin
- 4.3%
Revenue by year
Net profit by year, a loss in red
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 5,289 | 5,939 | 7,964 | 7,462 | 6,388 | 9,320 | 14,352 | 16,153 | 18,581 | 22,902 |
| Net profit | 177 | 145 | 136 | 135 | 161 | 257 | 638 | 825 | 821 | 977 |
| Net margin | 3.3% | 2.4% | 1.7% | 1.8% | 2.5% | 2.8% | 4.4% | 5.1% | 4.4% | 4.3% |
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- ConductorConductor, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹12,712 Crup 32.66%51.9%
- Power / Telecom cablesPower / Telecom cables, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹6,220 Crup 25.78%25.4%
- Transformer and speciality oilsTransformer and speciality oils, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹5,373 Crup 5.64%21.9%
- OthersOthers, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹196 Cr0.8%
Valuation
Today, against the company's own history.Apar Industries PE ratio and valuation
At or below today's level on 96% of 2,478 trading days over the last 10 years.
At or below today's level on 96% of 1,977 trading days since Nov 2018.
At or below today's level on 11% of 2,436 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +79.0% | +18.9% | +49.9% | 0.6% |
| 3 years | +58.8% | +13.4% | +39.3% | 0.8% |
| 5 years | +84.7% | +42.1% | +29.1% | 1.2% |
Mutual fund holdings
201 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 82 of the 124 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 201 funds holding Apar Industries
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 4
- AddedAdded. Funds that held more shares than at the end of the month before.
- 92
- CutCut. Funds that held fewer shares than at the end of the month before.
- 32
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 72
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 3
| Fund | |||
|---|---|---|---|
| 8,08,204 | 1.74% | ₹1,405.0 Cr | |
| 5,47,073 | 2.84% | ₹951.0 Cr | |
| 5,13,448 | 1.34% | ₹892.6 Cr | |
| 4,59,136 | 4.02% | ₹798.2 Cr | |
| 4,50,044 | 1.92% | ₹782.4 Cr | |
| 3,80,000 | 0.64% | ₹660.6 Cr | |
| 3,19,466 | 4.19% | ₹555.4 Cr | |
| 3,05,065 | 3.16% | ₹530.3 Cr | |
| 3,00,451 | 2.79% | ₹522.3 Cr | |
| 2,95,471 | 4.90% | ₹513.6 Cr |
Promoter and insider buying and selling
Trades made since 28 Oct 2025.Apar Industries insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Others: no market trade · 1 pledge filing of unclear kind
Apar Industries competitors and peers
Other Electrical Equipment, 84 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to Apar Industries in market cap.Capital goods stocks
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| 64,376 | – | 4.02 | +75.4% | – | – | 23.1% | 0.09% | |
| 38,368 | 23.04 | 8.91 | +26.7% | – | 46.7% | 27.2% | 0.09% | |
| 21,459 | 160.81 | 26.09 | +53.4% | +125.1% | 17.2% | 16.1% | 0.00% | |
| 19,461 | 99.03 | – | +92.6% | +416.5% | – | 12.2% | 0.00% | |
| 16,876 | 11.90 | 3.84 | – | – | 53.1% | 33.4% | 0.41% | |
| 13,687 | 102.45 | 18.97 | +44.4% | +67.1% | 20.0% | 18.5% | 0.00% | |
| 11,383 | 38.67 | 8.94 | – | – | 23.1% | 33.3% | 0.00% | |
| 8,251 | 12.66 | 3.72 | +74.2% | +62.8% | 31.9% | 20.1% | 0.18% |
Dividends
Per share, by the year it was paid for, and the latest payments.Apar Industries dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 11 Sep 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹60.00 |
| 29 Jul 2025 | Final | ₹51.00 |
| 20 Aug 2024 | Final | ₹51.00 |
| 4 Aug 2023 | Final | ₹40.00 |
| 4 Aug 2022 | Final | ₹15.00 |
| 5 Aug 2021 | Final | ₹9.50 |
Latest announcements
Routine notices left out.Apar Industries announcements
Oct 2026
28 Oct · Disclosure
21 Oct · Analysts
Sep 2026
24 Sep · General Updates
21 Sep · Meeting
Apar Industries share price by year
Each calendar year to 2025.Apar Industries share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 8,367.50 | −18.9% | 11,666.00 | 4,817.30 |
| 2024 | 10,317.60 | +70.4% | 10,956.15 | 5,310.75 |
| 2023 | 6,053.40 | +237.6% | 6,053.40 | 1,405.70 |
| 2022 | 1,793.10 | +129.9% | 1,793.10 | 590.55 |
| 2021 | 779.90 | +123.5% | 821.55 | 347.55 |
| 2020 | 349.00 | −10.5% | 443.25 | 244.90 |
| 2019 | 389.80 | −41.0% | 694.60 | 387.10 |
| 2018 | 660.25 | −18.5% | 862.20 | 541.40 |
| 2017 | 810.05 | +40.9% | 888.45 | 581.80 |
| 2016 | 574.90 | +12.8% | 597.30 | 416.10 |
Recent sessions
The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 27 Oct 2026 | 14,950.00 | 15,498.00 | 14,835.00 | 15,153.00 | 15,284.33 | 2,21,338 | 49.9% |
| 26 Oct 2026 | 14,136.00 | 14,850.00 | 13,797.00 | 14,801.00 | 14,429.26 | 2,30,884 | 40.8% |
| 23 Oct 2026 | 14,770.00 | 14,791.00 | 13,902.00 | 14,379.00 | 14,258.08 | 1,92,892 | 38.7% |
| 22 Oct 2026 | 15,122.00 | 15,288.00 | 14,615.00 | 14,713.00 | 14,878.63 | 1,44,762 | 43.7% |
| 21 Oct 2026 | 15,897.00 | 16,037.00 | 14,882.00 | 15,122.00 | 15,191.21 | 3,13,612 | 46.3% |
| 19 Oct 2026 | 16,040.00 | 16,147.00 | 15,601.00 | 15,737.00 | 15,803.02 | 1,52,027 | 40.9% |
| 16 Oct 2026 | 17,000.00 | 17,183.00 | 15,945.00 | 16,033.00 | 16,431.20 | 1,86,349 | 45.1% |
| 15 Oct 2026 | 17,750.00 | 17,973.00 | 16,760.00 | 16,914.00 | 17,237.41 | 1,56,308 | 46.4% |
| 14 Oct 2026 | 18,080.00 | 18,142.00 | 17,830.00 | 17,920.00 | 17,991.95 | 85,091 | 52.4% |
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Bonus share history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 11 Jan 2007 | Bonus | 0.7500 | Holders received 1 bonus share for every 3 held. |
Company details
- NSE symbol
- APARINDS
- BSE code
- 532259
- ISIN
- INE372A01015
- Industry
- Electrical Equipment
- Website
- www.apar.com
- CIN
- L91110GJ1989PLC012802
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1989
- Registered office
- 301 / 306, Panorama Complex, R C Dutt Road, Vadodara 390007, Gujarat
- Share registrar
- MUFG Intime India Pvt. Ltd
- Keeps the register of shareholders and handles transfers and dividend payments