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Apar Industries (APARINDS)₹14,205−2.53%Other Electrical Equipment
In the Sep 2026 quarter (consolidated), Apar Industries reported sales of ₹6,949 Cr, up 21.3% from Sep 2025, and net profit of ₹446 Cr, up 77.4% year on year. For the year to Mar 2026, sales were ₹22,972 Cr and net profit ₹974 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,017 | 4,465 | 4,021 | 4,654 | 4,725 | 5,226 | 5,113 | 5,729 | 5,494 | 6,623 | 6,610 | 6,949 |
| Expenses | 3,616 | 4,041 | 3,648 | 4,301 | 4,375 | 4,770 | 4,671 | 5,264 | 5,045 | 6,126 | 5,848 | 6,235 |
| Operating Profit | 404 | 427 | 377 | 357 | 355 | 454 | 451 | 465 | 451 | 495 | 757 | 720 |
| OPM % | 10.0% | 10.0% | 9.0% | 8.0% | 8.0% | 9.0% | 9.0% | 8.0% | 8.0% | 8.0% | 11.0% | 10.0% |
| Other Income | 21.02 | 27.02 | 15.01 | 33.01 | 34.03 | 19.99 | 25.02 | 23.02 | −17.02 | 12.01 | 34.03 | 60.99 |
| Interest | 113 | 101 | 90.19 | 101 | 118 | 100 | 86.16 | 108 | 106 | 137 | 123 | 138 |
| Depreciation | 29.02 | 31.02 | 31.04 | 32.04 | 33.02 | 36.06 | 38.05 | 40.03 | 41.08 | 42.06 | 46.04 | 47.08 |
| Profit before tax | 284 | 322 | 270 | 257 | 238 | 340 | 353 | 341 | 288 | 329 | 622 | 596 |
| Tax % | 23.0% | 27.0% | 25.0% | 24.0% | 27.0% | 26.0% | 25.0% | 26.0% | 27.0% | 23.0% | 25.0% | 25.0% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | −18.02 | −6.01 | 0.00 | 0.00 |
| Net Profit | 217 | 235 | 203 | 193 | 175 | 250 | 263 | 252 | 208 | 252 | 466 | 446 |
| EPS (Rs) | 53.98 | 58.59 | 50.29 | 48.12 | 43.40 | 62.08 | 65.22 | 62.46 | 51.84 | 62.91 | 116.01 | 106.43 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 5,088 | 4,843 | 5,831 | 7,985 | 7,443 | 6,403 | 9,347 | 14,368 | 16,190 | 18,638 | 22,972 | 25,676 |
| Expenses | 4,717 | 4,416 | 5,415 | 7,496 | 6,958 | 5,967 | 8,769 | 13,108 | 14,632 | 17,035 | 21,046 | 23,255 |
| Operating Profit | 379 | 433 | 425 | 490 | 494 | 439 | 577 | 1,265 | 1,567 | 1,598 | 1,918 | 2,424 |
| OPM % | 7.0% | 9.0% | 7.0% | 6.0% | 7.0% | 7.0% | 6.0% | 9.0% | 10.0% | 9.0% | 8.0% | 9.4% |
| Other Income | 10.01 | 14.99 | 10.99 | 15.01 | 15.02 | 19.02 | 33.03 | 36.05 | 86.06 | 80.99 | 24.01 | 90.01 |
| Interest | 175 | 131 | 158 | 224 | 255 | 157 | 171 | 345 | 433 | 444 | 475 | 505 |
| Depreciation | 38.08 | 45.05 | 56.11 | 67.07 | 87.16 | 93.19 | 98.12 | 104 | 116 | 132 | 161 | 176 |
| Profit before tax | 178 | 273 | 223 | 216 | 169 | 208 | 342 | 854 | 1,105 | 1,105 | 1,310 | 1,835 |
| Tax % | 32.0% | 36.0% | 35.0% | 37.0% | 20.0% | 23.0% | 25.0% | 25.0% | 25.0% | 26.0% | 25.0% | — |
| Exceptional items | 2.01 | 5.01 | 3.01 | 4.01 | 0.00 | 1.01 | 6.01 | 0.00 | 5.01 | 7.01 | −26.03 | −24.03 |
| Net Profit | 122 | 176 | 145 | 136 | 135 | 160 | 256 | 637 | 823 | 820 | 974 | 1,373 |
| EPS (Rs) | 31.52 | 45.99 | 37.71 | 35.47 | 35.19 | 41.84 | 66.90 | 166.11 | 204.64 | 203.94 | 242.53 | 337.19 |
| Dividend payout % | 21.0% | 22.1% | 25.0% | 27.0% | 27.0% | 23.1% | 22.0% | 24.0% | 25.0% | 25.0% | 25.1% | — |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 37.97 | 37.97 | 37.99 | 37.96 | 37.98 | 37.96 | 37.96 | 37.98 | 37.95 | 39.97 | 39.99 | 39.98 |
| Reserves | 693 | 818 | 1,001 | 1,073 | 1,167 | 1,131 | 1,365 | 1,683 | 2,204 | 3,849 | 4,479 | 5,369 |
| Borrowings | 495 | 384 | 305 | 363 | 253 | 372 | 325 | 359 | 377 | 476 | 586 | 956 |
| Other Liabilities | 1,732 | 1,679 | 2,106 | 2,803 | 3,499 | 3,113 | 3,269 | 4,529 | 5,598 | 5,255 | 6,164 | 7,357 |
| Total Liabilities | 2,959 | 2,922 | 3,451 | 4,277 | 4,958 | 4,654 | 4,998 | 6,610 | 8,218 | 9,620 | 11,270 | 13,722 |
| Fixed Assets | 395 | 397 | 573 | 648 | 708 | 884 | 876 | 879 | 949 | 1,192 | 1,539 | 1,713 |
| CWIP | 10.01 | 56.08 | 28.04 | 20.01 | 103 | 55.04 | 29.04 | 38.02 | 99.08 | 122 | 130 | 541 |
| Investments | 4.99 | 112 | 119 | 0.00 | 187 | 0.00 | 60.01 | 30.99 | 54.01 | 11.01 | 219 | 55.03 |
| Other Assets | 2,549 | 2,355 | 2,731 | 3,610 | 3,960 | 3,715 | 4,032 | 5,661 | 7,115 | 8,295 | 9,380 | 11,413 |
| Inventories | 941 | 769 | 992 | 1,209 | 1,279 | 1,328 | 1,560 | 2,132 | 2,568 | 2,856 | 3,301 | 4,144 |
| Trade receivables | 1,268 | 1,089 | 1,254 | 1,733 | 2,141 | 1,900 | 1,860 | 2,530 | 3,196 | 3,931 | 4,076 | 5,332 |
| Cash & equivalents | 100 | 134 | 123 | 274 | 225 | 176 | 222 | 266 | 530 | 646 | 762 | 732 |
| Total Assets | 2,959 | 2,922 | 3,451 | 4,277 | 4,958 | 4,654 | 4,998 | 6,610 | 8,218 | 9,620 | 11,270 | 13,722 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 298 | 412 | 312 | 225 | 633 | 94.03 | 281 | 244 | 699 | −283 | 1,292 | 969 |
| Cash from investing activity | −59.16 | −224 | −166 | −5.01 | −389 | 45.15 | −115 | −91.22 | −268 | −268 | −707 | −553 |
| Cash from financing activity | −369 | −153 | −157 | −68.87 | −293 | −189 | −123 | −106 | −186 | 634 | −482 | −433 |
| Net cash flow | −130 | 35.99 | −11.01 | 151 | −48.98 | −49.02 | 42.98 | 46.03 | 246 | 85.07 | 103 | −18.01 |
| Capex | 58.80 | 123 | 168 | 128 | 207 | 145 | 55.79 | 130 | 247 | 330 | 508 | 735 |
| Free cash flow | 242 | 288 | 146 | 96.69 | 422 | −49.77 | 225 | 114 | 450 | −611 | 781 | 234 |
| CFO / OP % | 120.1% | 108.1% | 95.1% | 67.1% | 143.0% | 35.1% | 74.1% | 58.1% | 72.0% | −2.0% | 97.1% | 70.1% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor days | 92 | 79 | 96 | 110 | 99 | 94 | 107 | 100 | 82 | 90 | 81 | 86 |
| Inventory days | 84 | 72 | 102 | 98 | 74 | 85 | 119 | 108 | 85 | 83 | 82 | 84 |
| Days payable | 140 | 129 | 180 | 206 | 187 | 181 | 230 | 206 | 171 | 139 | 136 | 137 |
| Cash conversion cycle | 34 | 20 | 15 | 0 | −16 | −4 | −6 | 1 | −5 | 32 | 25 | 30 |
| Working capital days | 22 | 5 | 22 | 21 | 6 | 13 | 25 | 27 | 18 | 50 | 39 | 43 |
| ROCE % | 16.9% | 27.9% | 30.9% | 26.9% | 30.0% | 27.9% | 21.9% | 27.0% | 50.9% | 44.0% | 32.9% | 31.9% |
For the Sep 2026 quarter, Apar Industries reported sales of ₹6,949 Cr, up 21.3% year on year and net profit of ₹446 Cr, up 77.4% year on year. The operating margin was 10.0%.
Apar Industries' sales for the year to Mar 2026 were ₹22,972 Cr; over the last twelve months they were ₹25,676 Cr.
Net profit for the year to Mar 2026 was ₹974 Cr, and ₹1,373 Cr over the last twelve months. Earnings per share over the same trailing period were ₹337.19.
Apar Industries reported borrowings of ₹956 Cr at Mar 2026, against cash and equivalents of ₹732 Cr.
Cash from operations was ₹969 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹234 Cr.