APAR Industries Limited (IN:APARINDS)
:APARINDS
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APAR Industries Limited
(APARINDS)
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Rating:70Outperform
Price Target:
₹11,648.00
▲(40.92% Upside)
Action:ReiteratedDate:02/04/26
The score is primarily driven by strong financial performance (solid growth and improving profitability with a stable balance sheet), partially offset by stretched technical conditions (overbought momentum and slightly negative MACD) and a relatively expensive valuation (high P/E and low dividend yield).
Positive Factors
Revenue Growth
APAR has demonstrated durable top-line expansion, with ~20.7% revenue growth recorded. Sustained organic growth indicates strengthening market share across conductors, specialty oils and lubricants, supporting longer-term capacity utilization and underwriting reinvestment and scale benefits over the next 2–6 months.
Negative Factors
Rising Liabilities
An uptick in total liabilities, despite manageable leverage, reduces headroom for additional borrowing and raises refinancing risk if growth stalls. Over several quarters this could constrain capex or force slower deleveraging, weakening financial optionality under stress.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
APAR has demonstrated durable top-line expansion, with ~20.7% revenue growth recorded. Sustained organic growth indicates strengthening market share across conductors, specialty oils and lubricants, supporting longer-term capacity utilization and underwriting reinvestment and scale benefits over the next 2–6 months.
Read all positive factors
APAR Industries Limited (APARINDS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹395.16B
Dividend Yield0.57%
Average Volume (3M)4.83K
Price to Earnings (P/E)40.2
Beta (1Y)1.71
Revenue Growth21.16%
EPS Growth8.27%
CountryIN
Employees2,045
SectorBasic Materials
Sector Strength58
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)57.45
Shares Outstanding40,168,316
10 Day Avg. Volume2,571
30 Day Avg. Volume4,831
Financial Highlights & Ratios
PEG Ratio-7.45
Price to Book (P/B)4.89
Price to Sales (P/S)1.19
P/FCF Ratio28.21
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹12,750.00Price Target Upside54.26% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)280.85
Revenue Forecast (FY)₹262.73B
APAR Industries Limited Business Overview & Revenue Model
Company Description
Apar Industries Limited engages in the electrical and metallurgical engineering business in India. The company offers transformer oils, including naphthenic and iso--paraffinic grades; liquid paraffins that are used in baby oil, medical and pharma...
How the Company Makes Money
APAR Industries makes money primarily by manufacturing and selling products across three major verticals: (1) Conductor segment: revenue is generated from supplying power transmission conductors (and related cable/conductor products) used by utili...
APAR Industries Limited Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 207.46B | 185.81B | 161.53B | 143.36B | 93.17B | 63.88B |
| Gross Profit | 42.18B | 38.08B | 35.81B | 32.38B | 20.93B | 15.73B |
| EBITDA | 17.64B | 15.65B | 15.34B | 12.41B | 5.44B | 4.15B |
| Net Income | 9.39B | 8.21B | 8.25B | 6.38B | 2.57B | 1.60B |
Balance Sheet | ||||||
| Total Assets | 113.13B | 112.64B | 96.16B | 82.18B | 66.08B | 50.09B |
| Cash, Cash Equivalents and Short-Term Investments | 3.84B | 9.69B | 5.87B | 6.28B | 2.83B | 2.67B |
| Total Debt | 7.04B | 5.85B | 4.76B | 3.76B | 3.59B | 3.25B |
| Total Liabilities | 64.60B | 67.60B | 57.39B | 59.81B | 48.92B | 35.99B |
| Stockholders Equity | 48.53B | 45.04B | 38.76B | 22.36B | 17.15B | 14.09B |
Cash Flow | ||||||
| Free Cash Flow | -2.38B | 7.81B | -6.14B | 4.51B | 1.13B | 2.68B |
| Operating Cash Flow | 1.69B | 12.91B | -2.83B | 6.98B | 2.44B | 3.24B |
| Investing Cash Flow | -2.06B | -7.05B | -2.68B | -2.69B | -906.10M | -1.15B |
| Financing Cash Flow | -3.41B | -4.83B | 6.35B | -1.84B | -1.06B | -1.23B |
APAR Industries Limited Technical Analysis
Positive
8265.50
Price Trends
9403.82
Positive
9032.32
Positive
8780.44
Positive
Market Momentum
73.82
Positive
50.90
Neutral
39.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:APARINDS, the sentiment is Positive. The current price of 8265.5 is below the 20-day moving average (MA) of 9790.89, below the 50-day MA of 9403.82, and below the 200-day MA of 8780.44, indicating a bullish trend. The MACD of 73.82 indicates Positive momentum. The RSI at 50.90 is Neutral, neither overbought nor oversold. The STOCH value of 39.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:APARINDS.
APAR Industries Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | ₹737.87B | 9.05 | ― | 3.62% | 30.80% | 97.08% | |
73 Outperform | ₹478.44B | 80.20 | ― | 0.33% | 16.05% | 41.18% | |
70 Outperform | ₹395.16B | 40.22 | ― | 0.57% | 21.16% | 8.27% | |
67 Neutral | ₹119.91B | 23.48 | ― | 0.62% | 64.80% | 151.92% | |
66 Neutral | ₹221.35B | 29.89 | ― | 0.77% | 18.36% | 13.94% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | ₹183.54B | 24.09 | ― | 0.28% | 46.66% | 75.53% |
* Basic Materials Sector Average
IN:APARINDS
APAR Industries Limited
9,837.65
4,894.13
99.00%
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APAR Industries Limited Corporate Events
Apar Industries Seeks Shareholder Nod on Special Business via Postal Ballot
Feb 10, 2026
Apar Industries Limited has issued a postal ballot notice dated January 29, 2026 to seek shareholders’ approval on special business matters through remote e-voting. The company has submitted this notice to the NSE and BSE in compliance with ...
Apar Industries Delivers Record Nine-Month Revenue on Strong Domestic Demand Despite Export Headwinds
Jan 29, 2026
Apar Industries Limited has released its investor update for the third quarter and nine months ended December 31, 2025, reporting strong top- and bottom-line growth driven by robust domestic demand and an improved product mix. Consolidated revenue...
APAR Industries Files January 2026 Corporate Presentation with Stock Exchanges
Jan 29, 2026
APAR Industries Limited has released its latest corporate presentation for January 2026 and submitted it to both the National Stock Exchange of India and BSE for the information of its members and investors. The disclosure, made under applicable S...
Apar Industries Schedules Q3 FY26 Earnings Call with Analysts and Investors
Jan 19, 2026
Apar Industries Limited has announced that it will host a conference call for analysts and investors on Thursday, January 29, 2026, at 3:30 p.m. IST to discuss its financial results for the third quarter of fiscal year 2026. The call, organized th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.