APAR Industries (APARINDS) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 revenue from operations was ₹6,591.06 crore, up 29.1% year-over-year; domestic revenue grew 36.8% and exports 12.4%.

• EBITDA rose 62.7% year-over-year to ₹814.30 crore, with margin improving to 12.4% from 9.8%.

• Consolidated PAT was ₹453.05 crore, versus ₹257.86 crore a year earlier; basic EPS was ₹116.37.

• Record quarterly sales and profit were achieved amid geopolitical, logistics and manpower challenges.

Financial highlights

• FY26 revenue was ₹22,902.12 crore, EBITDA post forex ₹2,067.65 crore and PAT ₹976.93 crore.

• Q1 FY27 export mix was 27.48%; ROE was 8.36% and ROCE 9.81%, both non-annualised.

• Working capital cycle was maintained at 45–50 days; FY26 working capital days were 53.60.

• FY26 debt/equity ratio was 0.16, versus 0.10 in FY24 and FY25.

Segment performance

• Conductors revenue was ₹3,338.13 crore, up 19.9%; volume was 53,279 MT, down 6.7%, amid metal price volatility.

• Conductor premium-product mix was 40.58%; EBITDA per ton rose to ₹53,418 from ₹43,688 year-over-year.

• Oils revenue was ₹1,700.87 crore, up 34.7%; EBITDA was ₹329 crore, with EBITDA per KL at ₹25,482 versus ₹7,004.

• Cables revenue was ₹1,838.06 crore, up 29.5%; EBITDA rose 36.7% to ₹194 crore, with a 10.6% margin.

• Wires and B2C retail sales grew 46%; B2B channel business increased 92% year-over-year.