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APAR Industries (APARINDS) investor relations material
APAR Industries Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record H1 FY26 revenue of ₹10,820 crores, up 25% YoY, with Q2 revenue at ₹5,715 crores, up 23.1% YoY, driven by strong domestic and export growth, especially in the US.
H1 FY26 EBITDA reached ₹1,000 crores, up 25.5% YoY (margin 9.2%), and PAT rose 29.9% to ₹515 crores, with Q2 PAT at ₹252 crores (margin 4.4%).
Export revenue mix increased to 34.7% in Q2 and 33.2% in H1, with US revenue surging over 120% YoY.
Premium products contributed 45.4% of conductor revenue in Q2 FY26.
All-time high half-yearly EBITDA and profit, with robust growth across all divisions.
Financial highlights
Q2 FY26 consolidated revenue: ₹5,715 crores (+23.1% YoY); H1 FY26: ₹10,820 crores (+25% YoY); FY25: ₹18,581 crores (+15% YoY).
Q2 FY26 EBITDA: ₹499 crores (+24% YoY, margin 8.7%); H1 FY26 EBITDA: ₹1,000 crores (+25.5% YoY, margin 9.2%).
Q2 FY26 PAT: ₹252 crores (+30% YoY, margin 4.4%); H1 FY26 PAT: ₹515 crores (+29.9% YoY, margin 4.8%).
Debt/equity ratio improved to 0.10 in H1 FY26; ROE at 19.6%.
EPS for H1 FY26 at ₹128 (not annualized); net fixed asset turnover at 11.27x.
Outlook and guidance
Strong order book in conductors (₹7,168 crores) and cables (₹1,836 crores) as of H1 FY26.
Guidance for conductor EBITDA per ton maintained at ₹30,000 for the next 12 months, despite recent quarters exceeding this level.
Cable business margins expected to remain in the 10–12% range medium to long term.
Management expects continued growth driven by renewables and grid modernization globally, with tactical adjustments for US tariffs.
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