Apar Industries Q3 results: Sales revenue up 17.8% YoY to Rs 4,696.50 crore, profit down 19.6% YoY to Rs 174.92 crore

Apar Industries, one of the world’s largest aluminum conductor manufacturers and India’s largest renewable cable manufacturers, has reported strong revenue growth for Q3 FY25. The company’s revenue surged by 17.7% YoY to ₹4,716 crore, driven by 31.8% YoY growth in domestic business, while exports contributed 33.5% to total revenue, lower than the 40.7% share in Q3 FY24.

However, profitability declined during the quarter, with EBITDA (post forex) falling 7.1% YoY to ₹401 crore, and PAT dropping 19.7% YoY to ₹175 crore.

For the nine-month (9M) FY25 period, Apar reported 14.3% YoY growth in revenue, reaching ₹13,371 crore, while PAT for the period declined by 3% YoY to ₹571 crore.

Segmental Performance

Conductor Business: Revenue surged 23.4% YoY, led by 19% volume growth and a 54.5% increase in domestic sales. The export mix dropped to 25% in Q3 FY25 from 40.2% in Q3 FY24. The premium products mix improved to 37.4% during the quarter. EBITDA per metric ton (post forex) stood at ₹29,593 per MT, with a quarterly EBITDA of ₹179 crore.

Speciality Oils: Revenue remained flat, rising by only 0.6% YoY. The volume for Q3 FY25 grew 4.8% YoY, while the global transformer oil business grew by 6.3%. The automotive oil segment recorded a strong 13.5% YoY growth. However, EBITDA (post forex adjustment) declined 18.3% YoY.

Cable Solutions: This segment witnessed a 37% YoY revenue jump, with domestic revenue increasing 30.4% YoY. Export contribution stood at 34% in Q3 FY25, slightly higher than 30.6% YoY in Q3 FY24. However, EBITDA margins dropped 200 basis points YoY to 9.6%.

Management Commentary

Commenting on the results, Kushal N Desai, Chairman & Managing Director of Apar Industries, stated, “We have delivered yet another quarter of healthy revenue growth, driven by our premium businesses and customer-centric approach. Domestic demand continues to grow due to infrastructure capex, and we expect the export slowdown to stabilize gradually. While margins were impacted this quarter due to competitive pressures from China and softer export demand, declining freight costs should help mitigate these concerns in the coming months.”

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