APAR Industries announced a strong performance for Q2 and H1 FY26, marked by a 23.1% increase in revenue to ₹5,715 crores for the quarter. Volume growth across all divisions and a 43% rise in exports drove results. First-half revenue reached ₹10,820 crores, a 25% year-over-year increase. While headwinds from rising metal prices are expected in Q3, underlying business fundamentals remain robust.
Financial Highlights
APAR Industries reported impressive financial results for Q2 FY26:
- Revenue reached ₹5,715 crores, a 23.1% increase year-over-year.
- Exports increased by 43%, contributing 34.7% to consolidated revenue.
- EBITDA after forex impact was ₹499 crores, with a margin of 8.7%.
- Profit after tax was ₹252 crores, a 30% increase.
The company’s performance in the first half of the fiscal year was equally strong:
- Revenue reached ₹10,820 crores, a 25% increase year-over-year.
- EBITDA post forex was ₹1,000 crores.
- EBITDA margin stood at approximately 9.2%.
Segmental Performance
Conductors
- Revenue growth of 34.9% year-over-year in Q2 FY26, driven by product mix and volume.
- Exports grew by 74.6%, contributing 24.2% of overall revenue.
- Premium product mix contribution was 45.4%.
- EBITDA post forex reached ₹248 crores.
- Order book stood at ₹7,168 crores.
- H1 revenue was ₹5,885 crores, up 39% year-over-year, with export mix at 22.3%.
Oil
- Revenue remained flat due to lower crude prices.
- Volume grew by 8.2%.
- Domestic transformer oil business grew by 13.6%.
- Exports contributed 43.2% of overall oil division revenues.
- EBITDA per KL was ₹5,869.
Cables
- Revenue grew by 25.1% to ₹1,535 crores in Q2 FY26.
- Export mix was 42.3%.
- EBITDA post forex grew by 32% to ₹157 crores, with a margin of 10.2%.
- Order book stood at ₹1,836 crores.
- H1 revenue reached ₹2,954 crores, up 30.2% year-over-year, with export mix at 41.8%.
Industry Outlook
- India’s renewable energy sector added about 25 gigawatts of capacity in the first half of the fiscal year.
- Substation capacity addition rose by 74% year-on-year.
- Power Ministry announced ultra-high voltage AC power transmission systems.
Tariffs and Trade
- Aluminum and certain products were added to Section 232 duty, with a uniform rate of 50%.
- New order inflow has started in Q3 after a slowdown in Q2.
Source: BSE
