apar industries reported a standalone net profit of ₹973.91 crore for the financial year ended March 31, 2026, up 23% from ₹793.67 crore in the prior year. Consolidated net profit grew 19% to ₹976.93 crore, reflecting robust operational performance across its power transmission and specialty oils segments. The company’s consolidated revenue from operations jumped 25% to ₹22,902.12 crore, significantly outpacing the previous year’s ₹18,581.21 crore.

The Board of Directors, meeting on May 28, 2026, approved the audited standalone and consolidated financial statements. Statutory auditor C N K & Associates LLP issued an unmodified opinion on the accounts. The results remain subject to adoption by shareholders at the ensuing Annual General Meeting. Management attributed the growth to higher sales volumes and improved pricing realization in key markets.

Financial Performance Highlights

The company’s financial metrics demonstrate strong top-line and bottom-line expansion during FY26. The following table outlines the key standalone figures:

Consolidated revenue reached ₹22,902.12 crore, with domestic operations contributing ₹16,041.59 crore and international sales adding ₹6,860.53 crore. Cost of materials consumed stood at ₹18,694.25 crore, while employee benefit expenses rose to ₹427.87 crore from ₹337.78 crore in the previous year.

Dividend Declaration and Shareholder Returns

Shareholders are set to receive a final dividend of ₹60 per share, aggregating to ₹241.01 crore on 4,01,68,315 equity shares. This payout is subject to approval at the Annual General Meeting. The company maintained its authorized share capital at ₹102 crore, with issued and paid-up capital remaining unchanged at ₹40.17 crore. Promoter holding remained stable at approximately 56.68%, led by Kushal N. Desai and Chaitanya N. Desai, each holding 22.70%.

Exceptional Items and Regulatory Compliance

The standalone results included an exceptional item of ₹32.36 crore, primarily due to past service costs for gratuity and compensated absences arising from the new Labour Codes notified by the Ministry of Labour & Employment. Consolidated exceptional items were recorded at ₹32.53 crore. C N K & Associates LLP confirmed that the company has adequate internal financial controls and complied with all statutory requirements under the Companies Act, 2013. No frauds or material misstatements were noted during the audit period.

Apar Industries reported a consolidated net profit after tax (PAT) of ₹467.45 crore for the quarter ended June 30, 2026, marking a 78% year-on-year increase from ₹262.91 crore in Q1FY26. The robust bottom-line performance was primarily driven by significant margin expansion in its Transformer and Speciality Oils division and a shift towards premium products in the Conductors segment. This strong start to FY27 underscores the company’s ability to leverage higher realizations and an improved product mix across its core conductor, oil, and cable divisions, despite volume headwinds in conductors due to high metal prices.

Financial Performance Highlights

The company’s top-line growth was broad-based, with consolidated revenue rising from ₹5,104.16 crore in Q1FY26 to ₹6,591.06 crore in Q1FY27, a surge of 29.1%. Consolidated EBITDA increased by 62.7% to ₹814 crore (derived from segment results less unallocable expenses), reflecting improved operational efficiency and pricing power. Standalone revenue from operations grew 33.7% to ₹6,477.35 crore. Basic earnings per share (EPS) rose to ₹116.37 from ₹65.45 in Q1FY26. The absence of exceptional losses in the current quarter further supported clean profit growth, unlike the ₹7.54 crore exceptional loss recorded in Q4FY26.

Segment-Wise Growth Drivers

The Transformer and Speciality Oils division emerged as a key margin driver, with segment results surging to ₹331.34 crore from ₹97.78 crore in Q1FY26. This growth occurred despite a volume decline due to Hamriyah port closures in the UAE, indicating sharp increases in selling prices linked to ICE gas oil benchmarks. The Conductors division reported revenue of ₹3,336.13 crore, up 19.8% YoY, driven by a premium product mix of 50.3%. However, volumes declined by 6.7% due to high metal prices impacting order bookings. The Power/Telecom Cables division saw revenue grow by 29.5% to ₹1,838.06 crore, with domestic revenue leading the charge.

Strategic Expansions and Corporate Actions

On July 24, 2026, the Board approved the incorporation of Apar Industries UK Limited to facilitate trading in conductors and cables in the European market. The company also authorized an investment of up to BRL 3,000,000 in its Brazilian subsidiary, Apar Industries Latam Ltda, to capture tender opportunities in Latin America. Additionally, 9,484 equity shares were allotted against Employee Stock Appreciation Rights (ESARs), increasing the paid-up capital to ₹40,18,37,190. Statutory auditors C N K & Associates LLP issued an unmodified limited review report on both standalone and consolidated results.

What the Numbers Show

The disproportionate rise in EBITDA relative to revenue growth underscores significant operating leverage and favorable product mix shifts. While conductor volumes dipped due to high metal prices, the shift towards premium products maintained revenue growth. In the oil division, despite volume contractions from geopolitical disruptions, sharp increases in selling prices linked to ICE gas oil benchmarks drove substantial margin expansion. The pending order book stands at ₹10,190 crore for conductors and ₹1,925 crore for cables, providing visibility into future revenues.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE372A01015/6bfc1b88-8f94-405d-997b-c448b7c68878.pdf