Apar Industries Ltd. share price target

Conductor segment reported an EBITDA loss of Rs20mn, on account of legacy fixed price orders impacted owing to steep rise in raw material/freight cost. Apar Industries (APR) reported decent set of numbers led by strong recovery in transformer oil segment and lower interest cost. With economic activity witnessing a V-shape recovery, domestic revenues grew 12% YoY while export revenues de-grew 2.8% YoY. Lower interest expense led to boost in profitability. Conductors segment reported an EBITDA loss of Rs20mn owing...

in transformer oil segment. De-growth in consolidated revenue by 6.7% YoY impacted due to supply chain challenges amidst pandemic in the domestic market (down, 6% YoY) while exports market (up, 7% YoY) is gradually returning to normalcy. Lower RM cost and cost rationalisation measures led to boost in profitability. Conductors segment declined by 28% YoY owing to supply side constraint, subdued demand for conventional conductors and HEC. Specialty Oil revenue grew by 17.7% YoY driven by 30% growth in exports across all its product range. High competitive pricing and subdued...

During the quarter, the Company received new orders worth ~Rs.3.2bn in Conductor segment. New order inflows were significantly lower yoy with delays in awarding new tender due to...

FY20 with weakness across its segments. While the Conductor segmentreported37%declineinrevenues,OilandCablessegment reported degrowth of ~22% and ~12% respectively. Also, the companywasunabletocarryinspectionsbeforedispatchduringlast fewdaysofMar'20whichimpacteddeliveries/revenuebooking. Operating margin on consolidated basis improved 35bps yoy (to 5.8%)largelydrivenbythesharpimprovementinprofitabilityinthe Conductorsegment.IncreasingshareofhighmarginHighEfficiency...

We recently met Mr. Kushal Desai, CMD-Apar Industries (APAR), to gain Change in Estimates | Target | Reco insights on company's growth strategy and industry outlook. We came out positive and believe that recent price correction (~46% in 6 months) factors...

Performance Impacted by Lower Domestic Demand: Apar s revenues had a flattish performance with a degrowth of 3.0 percent YoY due to extended monsoon in domestic market, credit tightness and slowdown in the relevant sectors.

Apar Industries (Apar) reported strong set of numbers for 1QFY20 with Change in Estimates | Target | Reco revenue/PAT up 33%/42% YoY to Rs20bn/Rs412 mn (PLe Rs17bn/Rs334 mn). The top-line growth was led by growth across segments that is...

Strong Revenue Growth but Margins Decline: Apar revenues have shown a growth of 39.4% with strong growth across segments. The topline growth was driven by growth in cables segment (52%), Conductors (48.7%) and Oil (18%).

Apar Industries (Apar) reported 39% YoY growth in Q4FY19 revenues to Rs25bn, higher than our estimate. The top-line growth was driven by 51%YoY rise in Power/Telecom cables segment sales to Rs5.1 bn, Conductors revenues grew 49%YoY to Rs13.3bn while Transformer & specialty oil segment's sales rose 31% YoY to Rs7bn. However, EBITDA margin fell 163 bps YoY to 5.5% YoY owing to volatility in raw material prices and execution of lower-margin order. PAT for the quarter grew 9% YoY to Rs0.4 bn, in-line with our estimates, largely due to margin contraction, lower interest expense,...