In the cable solutions segment, Q3 revenue grew 89 percent YoY, led by strong growth in exports and elastomeric products and exports tripled vs Q3 FY22 and contributed 49 percent of sales in Q3 FY23.

January 31, 2023

APAR Industries Ltd. announced its consolidated results for the third quarter and nine months ended December 31, 2022. In 9MFY23, the company clocked revenue of INR 10,270 crore up by 63 percent YoY. EBITDA stood at INR 825 crore, an increase of 110 percent on YoY basis and PAT was INR 395 crore up by 127 percent YoY.

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The revenue for Q3FY23 stood at INR 3,942 crore; up by 77 percent YoY. EBITDA stood at INR 349 crore, an increase of 174 percent on YoY basis and PAT was INR 170 crore up by 210 percent YoY.

In the conductor segment, revenue reported a growth of 103 percent YoY with volumes growing 99 percent YoY during Q3. EBITDA for the quarter came in at INR 227 crore. The revenue of 9MFY23 stood at INR 4,899 crore with EBITDA post forex of INR 37,900 per MT.

In the cable solutions segment, Q3 revenue grew 89 percent YoY, led by strong growth in exports and elastomeric products and exports tripled vs Q3 FY22 and contributed 49 percent of sales in Q3 FY23. Meanwhile, the revenue for nine months stood at INR 2,320 crores with EBIDTA post forex of 9.8 percent on sales.

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Commenting on the results as well as the outlook of the business Mr. Kushal N Desai, Chairman & MD of APAR Industries said, “The third quarter continued its momentum by recording historic high top-line as well as bottom-line. We witnessed volume growth across all the three divisions and the net profit tripled on a year-on-year basis. We are optimistic about the growth prospects of our company as we believe we are appropriately placed to tap the benefits of infra-led spends, push towards renewable energy as well as China+1.”