This electrical equipment manufacturer is trending today!

This electrical equipment manufacturer is trending today!

Indian Market
by 5paisa Research Team Last Updated: 2022-12-09T06:35:13+05:30

The stock surged 4%, despite weak market sentiments.

On December 6, the market is trading in the red. At 2:26 pm, both Sensex and NIFTY50 are down 0.5%. The S&P BSE Sensex is trading at 62,517, while NIFTY50 is trading at 18,607.8. Regarding sectoral performance, Utilities and Power are the top gainers, while IT and Metal are among the top losers. Talking about stock-specific action, Apar Industries Ltd is among the top gainers in BSE group ‘A’. The stock is trading near an all-time high.

The shares of Apar Industries Ltd surged 4% and are trading at Rs 1627. The stock opened at Rs 1569.65 and made an intraday high and low of Rs 1639.1 and Rs 1569.65, respectively. The company has a market capitalisation of Rs 6218.64 crore. The stock is trading at a PE multiple of 17.69x.

Apar Industries Ltd is a highly-trusted manufacturer and supplier of conductors, a wide variety of cables, speciality oils, polymers, and lubricants. Established in 1958, it exports to over 140 countries, serving more than 10 industries. According to FY22, about 38.2 per cent of the revenue comes from exports while 61.8 per cent comes from the domestic market.

It operates mainly into four segments- conductors, electrical, telecom and elastomer cables, speciality oils, and lubricants (auto & industrial). Power Grid Corporation of India Limited, Adani Group, and Mazagon Dock Shipbuilders are among the major clients of the company.

Q2FY23 remained the highest-ever quarter for the company in terms of both revenue and net profit generated. For Q2FY23, the company’s consolidated revenue jumped by 42% to Rs 3215 crore from Rs 2262 crore, reported in Q2FY22. While, for the same quarter, consolidated net profit YoY improved by more than 80%. As per the FY22 period ending, the company has an ROE and ROCE of 16.22% and 28.51%, respectively.

About the shareholding pattern, 60.64% of the company’s stake is owned by the promoters, 6.3% by FIIs, 16.76% by DIIs, and the rest 16.3% by non-institutional investors.

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