| Company | Value | Change | %Change |
|---|
Revenue for the quarter increased by 17.7% to ₹4,716 crore, while its net profit fell nearly 20% from last year to ₹175 crore.
The company’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) fell 12% from the same quarter last year to ₹355.4 crore, while margin narrowed by 250 basis points to 7.5% from 10% in the year-ago period.
The management attributed the fall in margins to unfavourable competitive prices from China and lower demand on the exports front. “We are hopeful that export demand will improve,” Chairman & MD Kushal N Desai said.
The company’s domestic business grew by 31.8% from last year, Apar said in its earnings release. Exports contributed to 33.5% of the overall topline, compared to 40.7% contribution in the same quarter last year.
Apar Industries’ Conductor business grew by 23.4% from last year with its domestic business growing by nearly 55%. Volume growth for the business stood at 19%. Exports contributed to 25% during the quarter for this business and grew by nearly 43% on a quarter-on-quarter basis.
Order book for the Conductor business stood at ₹7,601 crore during the quarter.
Specialty Oils business saw a decline of 0.6% from last year in its revenue but volumes grew by 4.8%. export mix for the business stood at 43.8% from 44.4% last year.
Apar’s cable solutions business saw revenue growth of 37% during the quarter, while its domestic revenue saw 31% growth.
“Freight cost have started to soften which should help reduce landed costs. However, on the back of our strong foothold around energy infrastructure space we remain confident and resolute in delivering long -term value accretion to our stakeholders,” Desai added.
Shares of Apar Industries are trading 16% lower post the earnings announcement at ₹7,560. The stock has corrected 35% from its recent peak of ₹11,779.
First Published: Jan 28, 2025 12:49 PM IST
