APAR Industries Limited has received an upgraded credit rating from CARE Ratings Limited. The company’s long-term bank facilities have been upgraded to CARE AA; Stable, and its short-term bank facilities have been reaffirmed at CARE A1+. This upgrade, effective September 9, 2026, reflects the company’s strengthening business profile, improved profitability, and a strengthened capital structure following a recent Qualified Institutions Placement (QIP).
APAR Industries Secures Enhanced Credit Rating
APAR Industries Limited announced on September 10, 2026, that CARE Ratings Limited has upgraded its credit rating for long-term bank facilities to CARE AA; Stable. The rating for short-term bank facilities has been reaffirmed at CARE A1+. This significant development follows a press release from CARE Ratings dated September 9, 2026.
Drivers Behind the Upgrade
The upgrade is attributed to APAR’s robust performance, characterized by sustained growth in scale and improving profitability across its key business segments, including conductors, cables, and speciality oils. The company reported a substantial increase in operating income and PBILDT for FY26 and Q1FY27. Furthermore, the successful completion of a ₹2,500 crore Qualified Institutions Placement (QIP) in August 2026 has materially strengthened APAR’s capital structure, leading to improved leverage and liquidity profiles. The company’s tangible net worth increased significantly, and its total outside liabilities to tangible net worth (TOL/TNW) is projected to improve substantially.
Future Outlook and Key Monitors
CARE Ratings has assigned a Stable outlook, reflecting expectations of APAR sustaining its healthy operations and performance. The outlook is supported by the company’s strong market position, diversified business, and increasing share of premium products. Favorable demand prospects in power transmission, renewable energy, and infrastructure are expected to drive future growth. Key monitors for ratings include maintaining working-capital discipline, healthy leverage, and prudent deployment of QIP proceeds.
Source: BSE
