Mumbai, 28th July, 2023: APAR Industries Limited (BSE: 532259, NSE: APARINDS), the world’s largest conductor manufacturer, 3rd largest transformer oil manufacturer and India’s largest renewable cables manufacturer today announced its consolidated results for the quarter ended June 30, 2023.
Key Financial Highlights:
Q1FY24
▪ Revenue at ₹ 3,773 crores; up 22% YoY
▪ EBIDTA at ₹ 369 crores; up 54% YoY
▪ PAT at ₹ 197 crores; up 61% YoY
Segmental Updates:
Conductor:
▪ Revenue growth of 15% YoY with volumes growing 27% YoY during Q1
▪ EBIDTA post forex for the quarter came in at ₹ 177 crores. (Up 124% YoY)
▪ EBIDTA post forex at 38,740 per MT, owing to premiumisation & geography mix ▪ Revenue from premium products was 42% in Q1 FY24 and exports were up 58% YoY ▪ Order book as on end of Q1 FY24 stands ₹ 5,356 crores
Speciality Oils:
▪ Q1 revenue grew 13% YoY, driven by volume-led growth
▪ EBIDTA post forex adjustment was at 6,035 per Kl down by 38% YoY due to high base in LY
APAR Industries Limited
Corporate Office: APAR House, Corporate Park, V N Purav Marg, Chembur, Mumbai 400 071, India
+91 22 2526 3400/6780 0400 corporate@apar.com www.apar.com
Regd Office: 301/306, Panorama Complex, RC Dutt Road, Alkapuri, Vadodara – 390 007, India
+91 265 6178 700/6178 709 apar.baroda@apar.com www.apar.com CIN: L91110GJ1989PLC012802 Page 1 of 2
Cables Solutions:
▪ Q1 revenue grew 52% YoY, led by growth in exports and elastomeric products
▪ Exports doubled vs Q1 FY23 contributing 52% of sales
▪ EBIDTA post forex adjustment continues to maintain double-digit margin at 11.4% in Q1
Commenting on the results as well as the outlook of the business Mr. Kushal N Desai, Chairman & MD of APAR Industries said, “The first quarter witnessed a strong start to FY 24 with volumes growing across all the divisions. The top-line and bottom-line witnessed historic heights in Q1. Our strategic initiatives taken in the past has augured well and we are currently reaping these benefits. We are focussed on the long term growth prospects of the company and committed to increase value to stakeholders”
