Apar Industries filed its July 2026 corporate presentation with the National Stock Exchange of India Limited and BSE Limited on July 27, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing provides a comprehensive overview of the company’s operational scale, segmental performance, and financial health through the first quarter of FY27, highlighting its position as India’s largest player in conductor sales and private sector manufacturer of specialty oils.

The company reported consolidated revenue from operations of ₹22,902.12 crore for FY26, a significant increase from ₹16,152.98 crore in FY24 and ₹18,581.21 crore in FY25. For Q1FY27, revenue stood at ₹6,591.06 crore. EBITDA post open period forex was ₹2,067.65 crore in FY26, compared to ₹1,631.57 crore in FY24, and ₹814.30 crore in Q1FY27. Profit after tax (PAT) reached ₹976.93 crore in FY26, up from ₹825.11 crore in FY24. The export mix declined to 29.77% in FY26 from 45.20% in FY24, reflecting a shift towards domestic demand, though exports remained substantial at ₹6,817.96 crore.

Segmental Performance

The conductors division remained the largest revenue contributor, generating ₹12,711.95 crore in FY26, up from ₹8,030.98 crore in FY24. Volume sales increased to 2,41,788 MT in FY26 from 2,06,633 MT in FY24. The premium product mix improved to 45.82% in FY26 from 44.80% in FY24. In Q1FY27, the segment reported revenue of ₹3,338.13 crore with a premium mix of 50.26%. Installed capacity rose to 2,77,327 MT in FY26 from 2,14,438 MT in FY24.

The transformer and specialty oils segment, where Apar is the largest private sector manufacturer by capacity, reported revenue of ₹5,373.07 crore in FY26, compared to ₹4,836.93 crore in FY24. Volume sales grew to 6,31,985 KL in FY26 from 5,37,862 KL in FY24. Export revenue for this segment was ₹2,164.81 crore in FY26, representing an export mix of 40.29%. Installed capacity reached 9,34,600 MT in FY26.

The cables segment recorded revenue of ₹6,219.51 crore in FY26, up from ₹3,858.88 crore in FY24. Installed capacity expanded significantly to 9,50,656 KM in FY26 from 6,81,780 KM in FY24. Export revenue for cables was ₹2,022.43 crore in FY26, with an export mix of 32.52%.

Financial Health and Capital Allocation

Capex expenditure increased sharply to ₹736.66 crore in FY26 from ₹330.67 crore in FY24, driven by investments in cables (₹400.98 crore), conductors (₹223.12 crore), and oils (₹103.91 crore). The debt-to-equity ratio remained low at 0.16 in FY26, up slightly from 0.10 in FY24 and FY25. Working capital days were stable at 51.84 in FY26, compared to 53.60 in FY24 and 47.07 in FY25.

What the Numbers Show

The data reveals a strategic pivot towards domestic markets, with the overall export mix falling from 45.20% in FY24 to 29.77% in FY26. Despite this decline in export reliance, total revenue grew robustly, indicating strong domestic demand absorption across transmission, renewables, and infrastructure sectors. The increase in capex outlay, particularly in the cables segment, aligns with the company’s positioning as a leading supplier for renewable energy projects and data center buildouts. The maintenance of healthy return ratios, with ROE at 19.74% and ROCE at 24.46% in FY26, underscores efficient capital deployment despite the aggressive expansion phase.

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.