Apar Industries shareholders approved all four resolutions at the 37th Annual General Meeting held on September 21, 2026, including a final dividend of ₹60 per share.

The meeting, conducted via video conferencing, saw the adoption of audited financial statements for FY26 and the reappointment of Mr. Chaitanya N. Desai as director by rotation. While the dividend and financial statements received near-unanimous support, the director's reappointment saw 2.94% of votes cast against it, primarily from institutional investors.

Voting Results Breakdown

The e-voting results, scrutinized by H. M. Mehta & Associates, revealed strong support for routine business but notable dissent on governance matters. The table below summarizes the voting outcome for each resolution:

Key Resolutions

The ordinary business resolutions included:

• Adoption of standalone and consolidated audited financial statements for FY26.
• Declaration of a dividend at the rate of ₹60 per equity share.
• Reappointment of Mr. Chaitanya N. Desai (DIN: 00008091) as a director.

Under special business, members approved remuneration for cost auditors M/s. Rahul Ganesh Dugal & Co. for the financial year 2026-27.

Management Commentary

Mr. Kushal N. Desai, Chairman & Managing Director, presided over the meeting. He briefed members on the company’s performance and industry outlook. Members praised the management for detailed disclosures on ESG, CSR, digital transformation, and AI initiatives aimed at cost reduction.

Shareholders sought clarity on geopolitical challenges, including supply chain disruptions from conflicts in West Asia. They also inquired about new entrants in the cable business, specifically referencing the Aditya Birla group.

Market Context

The Chairman noted that the cable business is substantial, estimated at approximately ₹70,000 crore, with growth ranging between 8% and 10%. He stated that Apar Industries is capitalizing on this expansion while welcoming new competition.

The meeting concluded at 3:23 pm. Voting results were disseminated via stock exchanges and the company’s website.

Apar Industries reported its highest-ever consolidated revenue of ₹22,902 crore in FY26, up 23.25% YoY, with profit after tax rising 19% to ₹977 crore. The board has proposed a final dividend of ₹60 per equity share for FY26.

The 37th Annual General Meeting is scheduled for September 21, 2026, at 2:30 pm through Video Conferencing or Other Audio Visual Means. The record date for dividend eligibility and remote e-voting entitlement has been fixed at September 14, 2026. The disclosure was filed with the National Stock Exchange of India Limited and BSE Limited on August 25, 2026, pursuant to Regulation 30 and Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

FY26 financial performance

All three core segments contributed to the record performance. The Conductors division crossed the ₹10,000 crore milestone, while Cables emerged as the second-largest segment. The following table summarises consolidated financial highlights over five years.

Segmental performance

The Conductors segment delivered revenue of ₹12,712 crore, up 32.7% YoY, with EBITDA of ₹1,040 crore and EBITDA per MT of ₹43,012. Sales volume reached 2,41,788 MT, up 8.6%. The Cable Solutions segment reported revenue of ₹6,220 crore, up 25.8%, with EBITDA of ₹633 crore and EBITDA margin of 10.2%. Speciality Oils revenue rose 5.6% to ₹5,373 crore, with volume up 9% to 6,31,985 KL.

The segmental revenue mix stood at Conductors 51.9%, Cable Solutions 25.4%, Speciality Oils 21.9%, and Others 0.8%. Exports contributed 29.77% of consolidated FY26 revenue, with domestic sales accounting for 70.23%.

Dividend and AGM details

The board has recommended a dividend of ₹60 per fully paid-up equity share of face value ₹10 each, representing 600% of face value, for FY26. This compares with a 510% dividend paid in FY25. The dividend is subject to shareholder approval at the 37th AGM.

Shareholders holding equity shares as of the close of business on the record date will be eligible to receive the dividend. Payment will occur within the statutory period following member approval at the AGM.

Capital structure and balance sheet

Total equity stood at ₹5,393 crore as at March 31, 2026, against total assets of ₹13,711 crore. Total borrowings were ₹841 crore, with a debt-to-equity ratio of 0.16. Cash flow from operations was ₹968 crore. The company invested ₹1,577 crore in capex over the last three years, with FY26 capex of ₹737 crore, up 44.51% YoY. The company operates 11 manufacturing plants across India and one in Sharjah, UAE, serving customers in 140+ countries.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE372A01015/a4471e63-2bfd-47b7-8cff-1c163f0c9955.pdf