Apar Industries logo

Apar Industries share price

NSE: APARINDSBSE: 532259Electrical EquipmentMid Cap

Apar Industries Limited · Face value ₹10 · Listed Apr 1991 on BSE, Jul 2004 on NSE
Last close ₹15,419.00up ₹266.00 (1.76%)BSE ₹15,407.60

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

52-week range of traded prices to 28 Oct 2026
₹6,801.00Low, 21 Jan 2026₹19,265.00High, 22 Sep 2026
Market cap
₹64,563 Cr209th largest listed
P/E
54.64
P/B
11.97
Dividend yield
0.39%
ROE
23.9%
ROCE
31.9%
Debt to equity
0.16
Volume, NSE
1,47,95945.8% delivered

Apar Industries share price chart

Daily closes since Jan 2007, adjusted for splits and bonuses

+69.3%over a year · Nifty 500 −8.8%

Results20-session average 1,47,519 shares a day, 42.4% 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
    Itemyear 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

Results

Consolidated; ₹ crore.Apar Industries quarterly results

Revenue growth, 12 months
+24.0%
Net profit growth, 12 months
+34.0%

Quarter to Jun 2026, against the quarter before

Revenue
₹6,591 Crdown 0.18%
Net profit
₹467 Crup 84.44%
Net margin
7.1%

Revenue by quarter

₹4,645 CrSep 24₹4,716 CrDec 24₹5,210 CrMar 25₹5,104 CrJun 25₹5,715 CrSep 25₹5,480 CrDec 25₹6,603 CrMar 26₹6,591 CrJun 26
Peak revenue ₹6,603 Cr, quarter to Mar 2026; lowest ₹4,645 Cr, quarter to Sep 2024

Net profit by quarter, a loss in red

₹194 CrSep 24₹175 CrDec 24₹250 CrMar 25₹263 CrJun 25₹252 CrSep 25₹209 CrDec 25₹253 CrMar 26₹467 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue4,6454,7165,2105,1045,7155,4806,6036,591
Net profit194175250263252209253467
Net margin4.2%3.7%4.8%5.2%4.4%3.8%3.8%7.1%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit

  • Conductor₹12,712 Crup 32.66%51.9%
  • Power / Telecom cables₹6,220 Crup 25.78%25.4%
  • Transformer and speciality oils₹5,373 Crup 5.64%21.9%
  • Others₹196 Cr0.8%
The pill is the change in revenue on the year before; the share is of all the businesses together.

Valuation

Today, against the company's own history.Apar Industries PE ratio and valuation

Price to earnings

At or below today's level on 96% of 2,478 trading days over the last 10 years.

LowestHighest
Its median17.59Industry median21.16
Price to book

At or below today's level on 96% of 1,977 trading days since Nov 2018.

LowestHighest
Its median3.23Industry median3.19
Dividend yield

At or below today's level on 11% of 2,436 trading days over the last 10 years.

LowestHighest
Its median1.04%Industry median0.23%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend 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%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Apar Industries shareholding pattern

Shareholding by group

  • Promoters55.42%
  • Foreign institutions12.55%
  • Indian institutions23.82%
  • Individuals and others8.21%
Holder
Chaitanya N DesaiPromoter21.78%
Kushal N DesaiPromoter21.78%
Maithili N Desai Family Private Trust No 2 - Trustee Maithili Trusteeship Services Private LimitedPromoter10.58%
Government Pension Fund GlobalForeign portfolio investors, category I1.00%
Maithili N Desai Family Private Trust - Trustee Mr. K. N. Desai and Mr. C. N. DesaiPromoter0.24%
APAR Corporation Private LimitedPromoter0.20%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Aug 2026: promoters unchanged, foreign institutions +1.19 pts, Indian institutions −1.06 pts, mutual funds −1.30 pts.

The filing reports 32 of its 4,18,72,337 shares locked in.

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 time
4
Added
92
Cut
32
Held unchanged
72
Sold out
3
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

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
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

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

Return on equity across, P/E up, size is market cap
Company
Waaree Energies logoWaaree EnergiesWAAREEENER64,376–4.02+75.4%––23.1%0.09%
Premier Energies logoPremier EnergiesPREMIERENE38,36823.048.91+26.7%–46.7%27.2%0.09%
Mtar Technologies logoMtar TechnologiesMTARTECH21,459160.8126.09+53.4%+125.1%17.2%16.1%0.00%
Diamond Power Infrastructure logoDiamond Power InfrastructureDIACABS19,46199.03–+92.6%+416.5%–12.2%0.00%
Emmvee Photovoltaic Power logoEmmvee Photovoltaic PowerEMMVEE16,87611.903.84––53.1%33.4%0.41%
Avalon Technologies logoAvalon TechnologiesAVALON13,687102.4518.97+44.4%+67.1%20.0%18.5%0.00%
Fujiyama Power Systems logoFujiyama Power SystemsUTLSOLAR11,38338.678.94––23.1%33.3%0.00%
Genus Power Infrastructures logoGenus Power InfrastructuresGENUSPOWER8,25112.663.72+74.2%+62.8%31.9%20.1%0.18%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

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

10Mar 179.5Mar 189.5Mar 199.5Mar 209.5Mar 2115Mar 2240Mar 2351Mar 2451Mar 2560Mar 26
Highest ₹60.00 a share, year to Mar 2026.
Ex-dateTypePer share
11 Sep 2026Final₹60.00
29 Jul 2025Final₹51.00
20 Aug 2024Final₹51.00
4 Aug 2023Final₹40.00
4 Aug 2022Final₹15.00
5 Aug 2021Final₹9.50
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Apar Industries announcements

Apar Industries share price by year

Each calendar year to 2025.Apar Industries share price history

YearClose at year endChangeHighest closeLowest close
20258,367.50−18.9%11,666.004,817.30
202410,317.60+70.4%10,956.155,310.75
20236,053.40+237.6%6,053.401,405.70
20221,793.10+129.9%1,793.10590.55
2021779.90+123.5%821.55347.55
2020349.00−10.5%443.25244.90
2019389.80−41.0%694.60387.10
2018660.25−18.5%862.20541.40
2017810.05+40.9%888.45581.80
2016574.90+12.8%597.30416.10
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
27 Oct 202614,950.0015,498.0014,835.0015,153.0015,284.332,21,33849.9%
26 Oct 202614,136.0014,850.0013,797.0014,801.0014,429.262,30,88440.8%
23 Oct 202614,770.0014,791.0013,902.0014,379.0014,258.081,92,89238.7%
22 Oct 202615,122.0015,288.0014,615.0014,713.0014,878.631,44,76243.7%
21 Oct 202615,897.0016,037.0014,882.0015,122.0015,191.213,13,61246.3%
19 Oct 202616,040.0016,147.0015,601.0015,737.0015,803.021,52,02740.9%
16 Oct 202617,000.0017,183.0015,945.0016,033.0016,431.201,86,34945.1%
15 Oct 202617,750.0017,973.0016,760.0016,914.0017,237.411,56,30846.4%
14 Oct 202618,080.0018,142.0017,830.0017,920.0017,991.9585,09152.4%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Bonus share history

Ex-dateEventPrice factorWhat happened
11 Jan 2007Bonus0.7500Holders received 1 bonus share for every 3 held.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.

Company details