Apar Industries share price today

Apar Industries Ltd's share price was ₹15,998.00 at the close on 4 November 2026. It has been rising for 69 weeks. That is 14.2% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹7,033 and ₹18,858, and at that close it sat 76% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Apar Industries Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 15 weeks in a row.

Over the last 11 years the share price moved +3,721% while the NIFTY 500 moved +257%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare), foreign funds (FIIs) raised their stake for 6 quarters in a row and profit up on a year earlier for 7 quarters in a row.

1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare)

   In the September 2026 quarter revenue was ₹6,931 crore, +21.3% on a year earlier.

   Why: Revenue rose because the oils business earned more from higher base oil prices even though it sold less oil.

   Next results: check whether the goods stuck in transit to the US convert to sales in the December quarter and whether conductor volumes recover as customers release clearances.

   From the earnings call on 29 Oct 2026.

2. Foreign funds (FIIs) raised their stake for 6 quarters in a row

   From 9.1% to 12.6% of the company by the September 2026 quarter.

3. Profit up on a year earlier for 7 quarters in a row

   In the September 2026 quarter profit was ₹447 crore, +77.4% on a year earlier.

   Why: Profit rose because the oils business made much more per litre by buying under contracts and selling to steadier, higher quality buyers.

   Next results: check whether the oils business keeps its unusually high profit per litre, since management said the level was above normal and did not explain how it would last.

   From the earnings call on 29 Oct 2026.

For July to September 2026 (the quarter ended 30 September 2026), Apar Industries reported revenue of ₹6,931 crore, up 21.3% from ₹5,715 crore a year earlier, and a profit of ₹447 crore, up 77.4% from ₹252 crore.

Apar Industries results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Apar Industries' management discussed these results on a call held on 29 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Apar Industries closed at ₹15,998.00 on 4 November 2026, up 93.2% from ₹8,280.50 a year earlier (7 November 2025) and up 2,204.7% over five years. Its highest weekly close since February 2016 was ₹18,858.00 on 18 September 2026.

Apar Industries share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

566 weekly closes from 26 February 2016 to 4 November 2026.

4 Nov 2026: Apar Industries closed at ₹15,998.00, up 2.0% on the week and down 9.3% on the month. 29 Oct 2026: Apar Industries held its results call for July to September 2026. Management guided: Conductor operating profit per MT ₹35,000-36,000 plus tailwinds medium to long term.

Earlier

• Results for July to September 2026: Revenue up 21.3% and profit up 77.4% on a year earlier.
• 11 Sep 2026: ex-date for a dividend of ₹60 a share, record date 14 Sep 2026.

Apar Industries paid ₹60 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.38% at the ₹15,998.00 close on 4 November 2026. The last was a dividend of ₹60 a share, ex-date 11 September 2026.

Apar Industries dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. Apar Industries Ltd paid out 25% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2026, held on 29 October 2026, Apar Industries' management guided: Conductor operating profit per MT ₹35,000-36,000 plus tailwinds medium to long term.

“To sum up, the structural demand drivers remain intact, and it is only a matter of time before the flow of order execution catches up with the final delivery schedule of the transmission projects.”Kushal Desai, on the call for July to September 2026

What management guided

• Cable business value growth 25% year on year for full year.
• Cable operating margin goal 11-12% on premium mix and leverage.
• Conductor volumes stronger in H2 than H1 with Q3 transit catch-up and peak execution.
• India capital spending ₹1,500 crore over next 12-15 months easing to ₹300-400 crore annually ex-overseas.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 29 October 2026.

What is changing at Apar Industries, from the latest results and calls: conductor division premiumization and high-value utility order execution, us data-center cable qualification and medium-voltage expansion and 1,500 cr fy27 capital spending deployment for divisional capacity debottlenecking.

• Conductor Division Premiumization and High-Value Utility Order Execution. Premium products reached 50.3% of conductor revenue in April to June 2026, lifting blended operating profit to 53,418 rupees per MT backed by a 10,190 Cr order book. ⚠ estimate
• US Data-Center Cable Qualification and Medium-Voltage Expansion. Approvals from Meta, Microsoft, and Google open contractor RFQs for medium-voltage copper and aluminum cables in US hyperscale facilities. ⚠ estimate
• 1,500 Cr FY27 Capital spending Deployment for Divisional Capacity Debottlenecking. 1,500 Cr FY27 capital spending expansion addresses 80-90% utilization across divisions, unlocking incremental medium-voltage cable and conductor capacity. ⚠ estimate
• Specialty Oil Leadership and Guaranteed HVDC Supply Contracts. Apar confirmed as sole HVDC transformer oil supplier to Hitachi, GE, and Siemens for projects executing across FY27-FY28. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the latest results, written 22 August 2026.

Conductor FY26 revenue ₹12,712 crore (+32.7%), full-year premium mix 45.8%, volumes +8.6%, order book ₹7,671 crore.

• Conductor pending order book ₹10,190 crore (56.8% export); quarterly orders ₹5,245 crore including >₹2,800 crore from two major US and European utilities. ✓ fact

Our read after the latest results, written 22 August 2026.

A simultaneous decline in conductor blended operating profit per metric ton below 35,000 rupees and a sustained contraction in export cable revenue below 25% of divisional mix across two consecutive quarters, demonstrating that premiumization gains were cyclical commodity windfalls rather than pricing power.

Each change stops working if

• Conductor Division Premiumization and High-Value Utility Order Execution: Conductor blended operating profit per metric ton falls below 35,000 rupees due to commodity pass-through failures or customer cancellation of high-margin HTLS reconductoring contracts.
• US Data-Center Cable Qualification and Medium-Voltage Expansion: US hyperscalers alter rubber-based EPR cable specifications or re-impose punitive non-metal reciprocal tariffs that compress export cable operating margin below 9.0%.
• 1,500 Cr FY27 Capital spending Deployment for Divisional Capacity Debottlenecking: Commissioning delays push facility online dates past FY28 or incremental capacity remains underutilized due to global grid capital spending retrenchment.
• Specialty Oil Leadership and Guaranteed HVDC Supply Contracts: Crude and base oil prices collapse rapidly, forcing inventory markdown provisions that exceed quarterly processing margins.

The main risks

• Commodity Volatility and Customer Order Clearance Deferrals: Surges in aluminum and copper prices cause unhedged EPC customers to delay manufacturing clearances, contracting conductor volume. ✓ fact
• Oil Division Unit Profitability Normalization: April to June 2026 oil operating profit of 25,482 rupees per KL was driven by historical-cost inventory gains and cannot be extrapolated as a sustainable run-rate. ✓ fact
• Management Guidance Shifts and Capital Allocation Reversals: Recurring guidance shifts across capital spending, volume goals, and tariff pricing policies dent forecasting predictability. ✓ fact
• Geopolitical Disruption and Section 232 Tariff Friction: 50% US aluminum tariff under Section 232 and Middle East port closures create ongoing logistics friction and export recognition lags. ✓ fact

Our read after the latest results, written 22 August 2026.

When Apar Industries reports October to December 2026, these are the 3 checks that show whether the story is still on course. First: DDP in-transit conductors and cables converting to US sales in Q3 - per management transit catch-up timeline.

Apar Industries is on 3 of our India lists: Momentum stocks, Small & mid cap stocks and Power & green energy stocks.

Apar Industries Ltd earned ₹447 Cr of net profit in the Sep 2026 quarter, +77.4% on the same quarter a year earlier. That is the 7th quarter in a row of profit growth. Full-year FY26 profit was ₹977 Cr. Over 10 years profit has grown 23.1% a year on average. That is 6.4% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹252 Cr.

For the full year, FY26 profit was ₹977 Cr (+19.0% on the year before).

Why profit moved: revenue changed +21.3% on a year earlier and the margin moved +2.0 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed +43.9% and revenue +23.3%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

FY27-Q1. revenue ₹6,591 Cr and profit ₹467 Cr as reported.

FY27-Q2. revenue ₹6,931 Cr and profit ₹447 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Apar Industries Ltd reported ₹6,931 Cr of revenue in the Sep 2026 quarter, +21.3% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 16.3% a year on average. The last full year, FY26, came in at ₹22,902 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. Apar achieved vendor approvals from major US data-center operators (Meta, Microsoft, Google), enabling contractor bidding across both copper and aluminum medium-voltage specifications. US medium facilities consume approximately US$10-12M in medium-voltage and US$25-30M in low-voltage cables. Cable division revenue grew 29.5% YoY to 1,838 Cr in Q1 FY27 at a 10.6% EBITDA margin, supported by domestic growth (59.9%) and an expanding US order pipeline.

The last four reported quarters add to ₹25,605 Cr.

FY26 revenue was ₹22,902 Cr, +23.3% on the year before.

Recent pace: the last four quarters grew +23.3% on average, against 16.3% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +23.4%, against +22.3% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +46.4%, against +27.2% a year (accelerating).

FY27-Q1. revenue ₹6,591 Cr and profit ₹467 Cr as reported.

FY27-Q2. revenue ₹6,931 Cr and profit ₹447 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Apar Industries Ltd's operating margin was 10.0% in the Sep 2026 quarter, 2.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 5.0% and 10.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. Conductor profitability has structurally detached from commodity volume cycles through premium product expansion (HTLS conductors, copper transposed conductors, OPGW, and reconductoring solutions). In Q1 FY27, premium mix reached 50.3% (vs 43.7% YoY), raising per-ton EBITDA to 53,418 rupees despite a 6.7% volume contraction caused by customer delivery deferrals. The division has a 10,190 Cr order book (56.8% export), including >2,800 Cr in multi-year utility awards from the US and Europe.

Why the margin moved: operating margin changed +2.3 percentage points on the year while gross margin changed +0.5 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

FY27-Q1. revenue ₹6,591 Cr and profit ₹467 Cr as reported.

FY27-Q2. revenue ₹6,931 Cr and profit ₹447 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Over the last 3 years, 75% of Apar Industries Ltd's reported profit came in as cash from its operations, so most of the profit is real cash. In FY26 it brought in ₹968 Cr of operating cash against ₹977 Cr of profit. After ₹748 Cr of spending on assets, ₹220 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 75% of profit came in as cash: the cash cycle got 36 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives.

What to look at next: less of the profit turns into cash than it should, and the cash cycle is 36 days longer. The next section looks at where the cash is stuck.

Apar Industries Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 30 days in FY26, up from −6 days in FY21. It spent ₹1,617 Cr on assets over the last 3 years. Customers take 85 days to pay, and stock sits for 84 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹22,902 Cr, each day of that cycle ties up about ₹62.7 Cr, so roughly ₹1,882 Cr is tied up in the business at any time.

FY26: customers took 85 days to pay and stock sat for 84 days, about 2.8 months of sales sitting as stock, for a full cycle of 30 days, longer than FY21's −6.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 84 days. Customers pay about 85 days after that. Suppliers are paid at 138 days. Together that makes the 30-day cycle.

Spending on assets: ₹1,617 Cr over the last 3 years, against ₹409 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹540 Cr (FY26): assets paid for that are not earning yet.

In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit.

Apar Industries Ltd's P/E is 47.9×, near the high end of its own history: higher than 94% of past readings. Its usual P/E (the middle reading) is 18.7×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹338.29.