India · Delayed Price · Currency is INR APAR Industries Earnings Call Transcripts
Fiscal Year 2026
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Record annual revenue and strong growth across all segments, with robust domestic and U.S. performance. Short-term headwinds from geopolitical and commodity pressures are offset by a positive long-term outlook, supported by increased CapEx and strong order books.
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Q3 saw strong domestic growth and record nine-month results, offsetting export declines from U.S. tariffs. Premium product mix and robust order inflows support positive outlook, with CapEx and new railway projects driving future growth.
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Q2 FY26 saw 23% YoY revenue growth and record H1 results, driven by strong exports and premium product mix. Short-term headwinds from U.S. tariffs and metal prices are expected to ease, with order inflow and execution set to improve in Q4.
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Q1 FY 2026 saw 27% revenue and EBITDA growth, with strong domestic and export performance across conductors, cables, and oils. US tariff uncertainty and Chinese competition pose risks, but robust order books and ongoing CapEx support a positive outlook.
Fiscal Year 2025
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Q4 FY 2025 saw record revenue and strong growth across all business segments, with robust domestic and U.S. performance. Management remains bullish, guiding for double-digit growth and significant CapEx to expand capacity, despite ongoing U.S. tariff and Chinese competition risks.
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Q3 FY25 revenue grew 17.7% year-on-year, led by strong domestic demand, but EBITDA and PAT margins declined due to lower export mix and higher costs. Order books remain robust, and guidance for double-digit growth is maintained, with margin improvement expected as export business recovers.
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Q2 FY25 revenue grew 18.4% year-over-year to INR 4,645 crore, led by robust domestic demand, while export share declined due to logistics and competition. Margins were impacted by a higher domestic mix, but sequential export recovery is expected in H2, supporting margin improvement.
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Q1 FY25 saw 6.5% revenue growth, strong domestic performance, and margin expansion despite export headwinds from logistics and regulatory delays. Premium product mix and robust order books support positive full-year guidance, with CapEx and capacity utilization on track.
Fiscal Year 2024
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The company is positioned for strong growth across energy, infrastructure, and telecom sectors, driven by innovation, premiumization, and global expansion. Strategic investments in capacity, sustainability, and advanced products support ambitious financial and ESG targets, with a focus on renewables and high-efficiency solutions.