This electrical equipment manufacturer was trending today!

This electrical equipment manufacturer was trending today!

Indian Market
by 5paisa Research Team Last Updated: 2023-01-09T13:08:18+05:30

The stock surged 4% and closed at Rs 1844.95

On January 5, the market traded in the red. The S&P BSE Sensex closed 0.5% down at 60,353, while NIFTY50 closed at 18,132, down 0.2% for the day. Regarding sectoral performance, Oil & Gas and FMCG were among the top gainers, while Financials and IT were the top losers. Talking about stock-specific action, Apar Industries Ltd was among the top gainers in BSE group ‘A’. The stock made a fresh 52-week high today.

The shares of Apar Industries Ltd surged 4% and closed trading at Rs 1844.95. The stock opened at Rs 1799.9 and made an intraday high and low of Rs 1864 and Rs 1789.75, respectively. The company has a market capitalisation of Rs 7060 crore. The stock is trading at a PE multiple of 20x.

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% of the revenue comes from exports while 61.8% 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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