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APAR Industries Limited Releases its Financial Results for Q1FY24

The Financial Results for Q1FY24 show Revenue at INR 3,773 crores and up 22 percent YoY.

July 31, 2023. By Nivedita Ojha

APAR Industries Limited is the world's largest conductor manufacturer, 3rd largest transformer oil manufacturer and India's largest renewable cables manufacturer announced its consolidated results for the quarter ended June 30, 2023.

The Financial Results for Q1FY24 show Revenue at INR 3,773 crores and up 22 percent YoY.

On a full-year basis, the business reported overall revenue growth of 15 percent YoY with volumes growing 27 percent. In Q1FY24, EBITDA stood at INR 369 crores up 54 percent YoY. Also, the PAT stood at INR 197 crores and up 61 percent YoY.

Kushal N Desai, Chairman & MD of APAR Industries said, “The first quarter witnessed a strong start to FY 24 with volumes growing across all the divisions. The top-line and bottom-line witnessed historic heights in Q1. Our strategic initiatives taken in the past has augured well and we are currently reaping these benefits. We are focussed on the long term growth prospects of the company and committed to increase value to stakeholders"

The company was incorporated in 1958 and is a diversified billion-dollar conglomerate with a strong presence in over 140 countries. APAR offers over 350 grades of specialty oils, the largest range of specialty cables, lubricants, specialty automotive and polymers.

Earlier in June 2023, APAR has taken one more step towards augmenting green energy by successfully commissioning a wind-solar hybrid (3.30 MW wind turbine and 2.80 MWp of solar energy) project in collaboration with a supplier. This project is anticipated to generate approximately 15 million units yearly (over 10 percent of annual electricity consumption) and assist in GHG emission minimisation.
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