Apar Industries hits new high

Apar Industries is currently the top gainer on the BSE; from yesterday’s close of Rs.1689.45, it opened higher today at Rs.1750.10 and rose to Rs.1999, hitting a new 52-week high. Volumes have surged almost 3.5x.

The market is super thrilled with its performance for Q3FY23, which was led by volume growth across all segments, Its revenue was up 77% (YoY) at Rs.3942 crore, led by good volume in all divisions and growth in export of cable and conductor businesses.

Its exports’ revenue was up by 144%, driven by 179% increase in cable division and 288% increase in conductor division. Export mix was at 49% versus 35% in Q3FY22.

EBITDA was up 174% on the back of strong margins in conductor and cable division. Its conductor business recorded highest ever EBIDTA post forex at 49,942 per MT while cable business clocked double-digit EBITDA post forex margin at 11.8%. EBITDA margin came in at 8.8%, up 310 bps.

The company ended the quarter with a PAT of Rs.170 crore, up 210%.