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APAR Industries announces its consolidated results

February 2, 2023 11:42 am

APAR Industries announces its consolidated results

APAR Industries Limited reports strong growth in all business segments, fueled by volume, and triple-digit profitability. Consolidated revenue for the third quarter of fiscal year 2023 was 3,942 crore, increasing 77 percent year over year (YoY)
The world’s largest conductor manufacturer, third-largest transformer oil manufacturer, and largest manufacturer of renewable cables in India, APAR Industries Limited (BSE: 532259, NSE: APARINDS), announced its consolidated results for the third quarter and nine months ended December 31, 2022.
The following are APAR Industries’ 9MFY23 Key Financial Highlights: 10,270 Crores in revenue, up 63 percent YoY; 825 Crores in EBIDTA, up 110 percent YoY; and 395 Crores in PAT, up 127 percent YoY.
Apar Industries_EPR Magazine
They reported revenue of ₹3,942 Crores for Q3 FY23, up 77 percent year over year; EBIDTA of ₹349 Crores, up 174 percent year over year; and PAT of ₹170 Crores, up 210 percent year over year.

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Their conductor segment updates are as follows: Revenue increased by 103 percent year over year during the third quarter, while volume increased by 99 percent, and EBIDTA totaled 227 crores (up 410 percent year over year); due to an improved product and geography mix, EBIDTA post-foreign forex increased to 49,942 per MT; exports increased 288 percent year over year; and premium product revenue increased to 44 percent in the third quarter of 2013. Nine-month revenue was 4,899 Crores, with EBITDA post-foreign exchange at 37,900 per MT.
Their Speciality Oils segmental update included volume-led growth and rising base oil prices, which propelled a 38 percent YoY increase in Q3 revenue. Volume increased by 9 percent year over year, but EBIDTA post-foreign exchange adjustment was at 1,646 per Kl, down by 76 percent year over year.
And at Cable Solutions, Q3 revenue increased 89 percent year over year, driven by strong growth in exports and elastomeric products. Exports tripled compared to Q3 FY22 and accounted for 49 percent of sales in Q3 FY23. Revenue was 2,320 crores in the first nine months, and sales EBIDTA after foreign exchange was 9.8 percent. 
Kushal N. Desai, Chairman & MD of APAR Industries, commented on the business’s results and future prospects and said, “The third quarter continued its momentum by recording historic high top-line as well as bottom-line. We witnessed volume growth across all the three divisions, and the net profit tripled on a year-on-year basis. We are optimistic about the growth prospects of our company as we believe we are appropriately placed to tap the benefits of infra-led spends, push towards renewable energy as well as China+1.”

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