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Yes Securities Report
Apar Industries Ltd. reported highest-ever quarterly revenue, Ebitda and profit after tax, led by growth across conductors segment (up 41% YoY), transformers and specialty oils (up 27% YoY) and cables (up 38% YoY).
Conductors revenue growth was largely driven by improved share of higher value products and exports. Margins expanded by 460 basis points YoY owing to higher gross margins and operating leverage benefits.
Going forward management expects strong traction in India on the back of robust power demand, power capacity addition, railway infra spending and private capex recovery.
On the international front, markets such as USA, Europe, Australia, etc. are expected to witness robust demand as well. We like Apar Industries given its global leadership position, robust prospects of value added products, strong positioning across product categories and consistent dividend pay-out.
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