Mumbai, India – January 28, 2025: APAR Industries Limited (NSE: APARINDS, BSE: 532259), a global leader in aluminum conductors, transformer oils, and cable solutions, has announced its Q3 and nine-month (9M) FY2024-25 financial results. The company reported a 17.7% YoY revenue increase, driven by strong domestic business growth, but faced margin pressures from competitive pricing and export headwinds.
Key Financial Highlights – Q3 FY2024-25 (Consolidated)
- Revenue: ₹4,716 crore (YoY growth of 17.7%)
- EBITDA (post forex impact): ₹401 crore (down 7.1% YoY)
- Profit After Tax (PAT): ₹175 crore (declined 19.7% YoY)
- Earnings Per Share (EPS): ₹43.55 per share
- Export Revenue Contribution: 33.5%, down from 40.7% in Q3 FY24.
Nine-Month Performance (April – December 2024)
- Total Revenue: ₹13,371 crore (up 14.3% YoY)
- EBITDA (post forex impact): ₹1,198 crore (up 2.0% YoY)
- Profit After Tax (PAT): ₹571 crore (down 3.0% YoY).
Segment-Wise Performance
1. Conductors Business
- Q3 Revenue Growth: 23.4% YoY, with domestic sales up 54.5%.
- Exports Contribution: 25% (down from 40.2% YoY), but sequentially up 42.7%.
- EBITDA per metric ton (MT): ₹29,593 per MT.
- Q3 Order Book: ₹7,601 crore, reflecting continued demand.
2. Transformer & Speciality Oils
- Q3 Revenue: Slight decline of 0.6% YoY.
- Global Transformer Oil Volumes: Up 6.3% YoY.
- Automotive Oil Volumes: Up 13.5% YoY.
- EBITDA per kiloliter (KL) post forex impact: ₹6,364 per KL.
3. Power & Telecom Cables
- Q3 Revenue Growth: 37.0% YoY.
- Domestic Business Growth: 30.4% YoY.
- Export Contribution: 34.0% (vs 30.6% in Q3 FY24).
- EBITDA Margin: 9.6%, down 200 bps YoY.
Management Commentary
Kushal N Desai, Chairman & Managing Director, APAR Industries, stated:"We have delivered yet another quarter of healthy revenue growth, particularly in our premium businesses. However, we faced headwinds in the export market due to competitive pricing from China and softer global demand. Freight costs are beginning to soften, which should help us improve landed costs. We remain optimistic that export demand will increase and that continued infrastructure investments in India will sustain domestic momentum."
Strategic Developments & Growth Initiatives
- Incorporation of APAR Industries Latam LTDA in Brazil: Expanding global footprint.
- Investment in CEMA Wires and Cables LLC & Clean Max Rudra Private Limited: Strengthening the renewable energy segment.
- Continued R&D investments: Enhancing premium product mix to counter margin pressures.
Market Outlook & Investor Focus
- Strong order pipeline in domestic infrastructure projects.
- Expected recovery in export demand, with freight cost reductions boosting margins.
- Stable long-term outlook as the company diversifies across energy and cable solutions