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Apar Industries’ Q2 PAT Shoots Up 69.42% YoY to Rs. 173 Crore

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Apar Industries Limited [NSE: APARINDS, BOM: 532259], an Indian manufacturer of conductors, speciality oils, and cables has announced its financials for the second quarter of FY-24.

Apar Industries’ Standalone Q2 FY-24 Financial Results

Apar Industries reported Rs. 3,644.36 crore as its standalone revenue from operations for Q2 of FY-24, and a corresponding Profit After Tax (PAT) of Rs. 185.62 crore for second quarter of FY-24.

Earnings Per Share (EPS) of the company stood at Rs. 48.50 for the quarter ended 30th September 2023.

Apar Industries’ Consolidated Q2 FY-24 Financial Numbers

YoY Comparison of Apar’s Financial Numbers: Q2 FY-24 vs. Q2 FY-23

Comparison of Apar’s Financials: Q2 FY23 vs Q2 FY24 vs Q1 FY24

Apar Industries consolidated revenue from operations was Rs. 3,925.98 crore for Q2 of FY-24. This shows a healthy Year-over-Year (YoY) growth of 21.36% in revenue from Rs. 3,234.88 crore logged by the company in Q2 of FY-23.

The company’s PAT rose by 69.42% YoY to Rs. 173.88 crore in Q2 of FY-24 from Rs. 102.63 crore clocked during Q2 of FY-24.

EPS of the company during Q2 of FY-24 stood at Rs. 45.44 against Rs. 26.82 during Q2 of FY-23.

QoQ Comparison of Apar Industries’ Financials: Q2 FY-24 vs. Q1 FY-24

Quarter-over-Quarter (QoQ) comparison of Apar Industries’ revenue shows a jump of 4.06% from Rs. 3,773.01 crore during Q1 of FY-24. Further, PAT of the company dropped by 11.92% from Rs. 197.43, which was reported for Q1 of FY-24.

Comparison of Apar Industries’ Segment-Wise Revenue

Revenue in Cr.

Comparison of Apar’s Financials: Q2 FY23 vs Q2 FY24

Conductors: Revenue from Apar’s Conductors business showed a 35.1% YoY increase to Rs. 1,943.25 crore during Q2 of FY-24 from Rs. 1,438.88 reported for Q2 of FY-23.

Transformer and speciality oils: The company did a revenue of Rs. 1,198.63 crore in Q2 of FY-24 from its transformer and speciality oils segment. This reflects a slight YoY increase of 1.94% from Rs. 1,175.81 crore revenue clocked during Q2 of FY-23.

Power / Telecom cables: Revenue from Power / Telecom cables jumped by 15.84% YoY to Rs. 882.26 crore during Q2 of FY-24 from Rs. 761.59 crore during Q2 of FY-23.

Apar’s Insights on its Financial Performance

During the company’s earnings call on its Q2 FY-24 financial performance, Mr. Kushal Desai, Chairman and Managing Director of Apar Industries Ltd., said “Our exports grew 26.3% year-on-year, contributing to 49% of the overall company’s revenue compared to 47% a year ago”. Mr. Ramesh Iyer, Chief Financial Officer (CFO) of Apar Industries Ltd. mentioned that the company will invest a CAPEX of Rs. 350 crore to Rs. 400 crore by the end of FY-24.

About Apar Industries Limited: Apar Industries Ltd. was founded in 1958, and has its presence in over 125 countries as a supplier of conductors, transmission cables, specialty oils, polymers, and lubricants.