This industrial stock is trending today!

This industrial stock is trending today!

by 5paisa Research Team Last Updated: Dec 13, 2022 - 12:10 pm 7.1k Views
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The stock surged 4% on Tuesday.

On December 13, the market is trading in green. At 11:50 am, the S&P BSE Sensex is trading at 62,486.93, up 0.57%, while NIFTY50 closed at 18,586.25, up 0.48%. Regarding sectoral performance, Telecom and IT are the top gainers, while Realty and Consumer Durables were among the top losers. Talking about stock-specific action, Apar Industries is among the top gainers in BSE group ‘A’.

The shares of Apar Industries surged 4% and are trading at Rs 1676.45. The stock opened at Rs 1598.05 and made an intraday high and low of Rs 1726 and Rs 1598.05, respectively.

Apar Industries are manufacturers and suppliers of conductors including a different variety of cables, polymers, speciality oils, and lubricants. It is among the top 3 global leaders in conductors and the largest domestic cable manufacturer for the renewable industry. 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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