In Week of Mar 28, 2026, Apar Industries Ltd (Cables - Power) is outperforming Nifty 500 with +34.6% relative strength. Fundamentals: Average.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q3 FY26 earnings • Updated Feb 22, 2026
What: 30% domestic revenue growth offsetting US export decline
Impact: +₹30 Cr revenue
“Domestic revenues grew by 30% in Q3 FY26 versus previous year”
What: Higher margin products driving EBITDA growth
Impact: +₹16.2 Cr revenue
“EBITDA grew 20.4% YoY to ₹483 crores despite revenue growth of 16.2%”
What: 25.1% revenue growth in conductor division driven by domestic strength
Impact: +₹25.1 Cr revenue
“Domestic revenue grew by 37% versus Q3 of FY25 despite volume degrowth of 5.9%”
Earnings deceleration risks from management commentary
Trigger: Continued US tariffs
Management view: Overall exports de-grew by 44.3%, which was basically because the U.S. revenues were down 65% in the third quarter over the previous year.
Monitor: Export revenue percentage
Trigger: Continued infrastructure project delays
Management view: Volume actually degrew by about 5.9% which was largely on account of some of the delayed clearances and innovating from right of way as well as delays in transformer deliveries
Monitor: Conductor division volume growth
Key quotes from recent conference calls
“Our consolidated revenue in Q3 came in at INR5,480 crores, representing a 16.2% year-on-year increase. This was particularly characterized by a resilient domestic business performance and a favourable product mix across all business verticals. — Kushal Desai”
“The export business was affected due to the U.S. tariff situation. If you look at the domestic revenues, it grew by 30% in Q3 FY '26 versus the previous year — Kushal Desai”
“Overall exports de-grew by 44.3%, which was basically because the U.S. revenues were down 65% in the third quarter over the previous year. — Kushal Desai”
“The EBITDA is up 20.4% year on year to 483 crores. The EBITDA margin stands at 8.8%. — Kushal Desai”
Forward-looking targets from management for 2-4 quarters
Key Milestones
• Transmission sector delays resolution
• Export market recovery
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +16% | +26% | Stable |
| PAT (Net Profit) | +19% | +47% | Stable |
| OPM | 8.0% | 0 bps | Expanding |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Feb 22, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Apar Industries Ltd's latest quarterly results (Dec 2025) show
Apar Industries Ltd's profit is growing with an stable trend.
Apar Industries Ltd's revenue growth trend is stable.
Apar Industries Ltd's operating margin is expanding.
Apar Industries Ltd's long-term compounding rates
Apar Industries Ltd's earnings growth is stable with weakening on a sequential basis.
Apar Industries Ltd's trailing twelve month (TTM) performance
Apar Industries Ltd appears fairly valued based on our fair value analysis.
Apar Industries Ltd's current PE ratio is 43.0x.
Apar Industries Ltd's current PE is 43.0x.
Apar Industries Ltd's price-to-book ratio is 8.8x.
Apar Industries Ltd is rated Average with a fundamental score of 43.18/100. This score is calculated from objective financial metrics
Apar Industries Ltd has a debt-to-equity ratio of N/A.
Apar Industries Ltd's return ratios over recent years
Apar Industries Ltd's operating cash flow is positive (FY2025).
Apar Industries Ltd's current dividend yield is 0.48%.
Apar Industries Ltd's shareholding pattern (Dec 2025)
Apar Industries Ltd's promoter holding has remained stable recently.
Apar Industries Ltd has been outperforming Nifty 500 for 2 consecutive weeks, indicating early-stage outperformance.
Apar Industries Ltd is a re-entry — it briefly dropped off the outperformance list but has now returned. Re-entries can signal renewed strength.
Apar Industries Ltd has 3 key growth catalysts identified from recent earnings analysis
Apar Industries Ltd has 2 key risks worth monitoring
In Q3 FY26, Apar Industries Ltd's management highlighted
Apar Industries Ltd's management has provided the following forward guidance for 2-4 quarters
Based on quantitative research signals, here is why Apar Industries Ltd may be worth studying
Apar Industries Ltd investment thesis summary:
Apar Industries Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
