APAR Industries posts highest ever Q1 revenue, PAT growing 61%
APAR Industries Limited announced its consolidated results for the quarter ended June 30 and reported a record 22 per cent increase in revenue from operations to Rs 3,773 crore in Q1 FY24 over Q1 FY23. The company witnessed a jump in EBITDA of 54 per cent YoY, reaching Rs 369 crore during Q1 FY24 whereas consolidated net profit saw 61 per cent increase to Rs 197 crore.
APAR’s Conductor business recorded 15 per cent revenue growth with volumes growing 27 per cent YoY during Q1. The order book as of the end of Q1 FY23 amounted to Rs 5,356 crore.
The Speciality Oils business experienced a 13% YoY revenue growth in Q3, driven by volume-led growth. Furthermore, Cables Solutions business achieved a remarkable 52 per cent YoY growth in revenue, led by growth in exports and elastomeric products. Exports of Cables Solutions doubled when compared to Q1 FY23 and contributed 52 per cent of sales in Q1 FY24.
Commenting on the results as well as the outlook of the business Kushal N Desai, Chairman & MD of APAR Industries said, “The first quarter witnessed a strong start to FY 24 with volumes growing across all the divisions. The top-line and bottom-line witnessed historic heights in Q1. Our strategic initiatives taken in the past has augured well and we are currently reaping these benefits. We are focussed on the long term growth prospects of the company and committed to increase value to stakeholders.”
Founded in 1958, APAR Industries, with a strong presence in over 140 countries, is one of the largest aluminium and alloy conductor manufacturers and the 3rd largest transformer oil manufacturers. APAR also offers over 350 grades of speciality oils, the largest range of speciality cables, lubricants, speciality automotive and polymers.
