Apar Industries Q1 Review - Stellar Performance Across Segments: Yes Securities

Apar Industries Q1 Review - Stellar Performance Across Segments: Yes Securities

<div class="paragraphs"><p>Automotive lubricants manufactured by Apar Industries. (Photo: Company website)</p></div>
Automotive lubricants manufactured by Apar Industries. (Photo: Company website)

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Yes Securities Report

Apar Industries Ltd. reported highest‐ever quarterly revenue, primarily led by the conductors segment (up 128% YoY). Conductors revenue growth was largely driven by higher volumes (up 64%), metal prices and improved share of higher value products (47% versus 44% in Q1 FY22).

Other segments such as specialty oils and lubricants (up 28% YoY) and cables (up 60% YoY) too witnessed healthy growth.

Margins expanded by 54 basis points/191 bps YoY/QoQ owing to operating leverage.

Going forward Apar Industries expects strong traction in India on the back of a capex‐oriented budget, focus on railways, defence outlay, etc. On the international front, markets such as North America, Europe, Australia, GCC, etc. are expected to witness robust demand as well.

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Yes Securities Apar Industries Q1FY23.pdf


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