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APAR Industries (APARINDS) investor relations material
APAR Industries Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Consolidated Q3 FY26 revenue reached ₹5,480 crore, up 16.2% year-on-year, driven by strong domestic growth and premium product mix, while exports declined due to U.S. tariffs.
Nine-month FY26 consolidated revenue hit ₹16,299 crore, up 21.9% year-on-year, with PAT at ₹723 crore, up 26.6%, and EBITDA at ₹1,483 crore, up 23.8%.
Domestic revenue grew 30% in Q3, while export revenue fell 11.2% due to U.S. tariffs, though U.S. revenue rebounded over nine months.
Exceptional loss of ₹25 crore recognized in Q3 due to new labour code provisions for gratuity and compensated absences.
Board approved unaudited financial results for Q3 and 9M FY26 and appointed Mr. Pitamber Shivnani as Independent Director, pending shareholder approval.
Financial highlights
Q3 EBITDA margin at 8.8%; PAT margin at 3.8%, 10 bps higher year-on-year; 9M EBITDA margin at 9.1%.
FY25 revenue reached ₹18,581 crore, a 15% increase over FY24; PAT for FY25 was ₹821 crore.
Debt/equity ratio at 0.10 and net fixed asset turnover at 10.13x in 9M FY26; ROE at 20.0%; EPS at ₹44 (not annualized).
Conductor division Q3 revenue up 25.1% YoY; premium product mix at 44.2% vs. 37.4% last year.
Oil business Q3 revenue grew 18.4%; transformer oil volume up 10.6%, automotive oil up 14.6%.
Outlook and guidance
Management maintains guidance for sustainable EBITDA per metric ton and expects a rebound in U.S. exports in Q4, with INR 500 crore in new cable orders.
Strong order book in conductors and cables, with new order inflow of ₹8,052 crore in 9M FY26.
Double-digit volume growth targeted for conductor business in FY27 as supply chain issues resolve.
Continued investment in R&D, capacity expansion, and digitalization to capture growth in renewables, infrastructure, and telecom.
Cable business expected to maintain 20%+ CAGR and 10% EBITDA margin, with some margin sacrifice in U.S. market for strategic reasons.
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- VWS
Record revenue, improved margins, and robust order backlog set the stage for 2026 growth. - FABG
Rental income up, property values down, vacancy at 14%, strong liquidity and green focus. - WONDERLA
Q3 FY26 revenue grew, but profit fell due to labor code costs; Chennai park launched. - RBX
Record order book and strong infrastructure growth offset by profit declines and Australia losses. - FSKRS
EBIT fell on stable sales; restructuring and strong cash flow to support 2026 improvement. - DNO
Record production and revenues in 2025, but net profit stayed negative amid higher debt. - BHARTIHEXA
Q3 FY26 saw 4.8% revenue growth, 7.4% higher EBITDA, and net debt/EBITDAAL at 0.48x. - AAK
Profitability improved despite lower volumes; higher dividends and share buyback proposed. - MILDEF
Record growth and profitability in Q4 and 2025, driven by RODA and strong order intake. - 500570
JLR's cyber incident drove a 25.8% revenue drop, but domestic PV business surged 24% YoY.
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