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Apar Industries (APARINDS) had a P/E of 41.6× on 6 Nov 2026, above the industry P/E of 30.0×, and the shares are 27% below their 52-week high. Its ROCE of 27% is the second-highest among the 7 largest Electrical Equipment & Parts peers, and sales and net profit grew 17% and 15% a year over 3 years. Its dividend yield is 0.4%, and debt is 0.12× equity. It is a mid-cap company with a market cap of ₹59,065 Cr, ranked 5th of 97 Electrical Equipment & Parts companies by market cap; the shares rose 87% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year
Open
₹15,232.00
Day high
₹15,396.00
Day low
₹13,780.00
Prev. close
₹15,613.00
Volume
6.5 L

Health check

2 good · 1 fair · 3 to check
  • ReturnsAhead

    +87.2% over a year, better than 7 of 7 peers.

  • Price tagPricier

    P/E 41.6 vs industry 30.0.

  • GrowthSlow

    Sales +17.0%, profit +15.3% a year over 3 years.

  • ProfitabilityStrong

    ROCE 26.7% vs peer median 22.1%.

  • Balance sheetFair

    Debt 0.12× equity, interest covered 5.6×, Piotroski 5 of 9.

  • Red flags1 to check

    Promoter stake down from 57.8% to 55.4%.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Electrical Equipment & Parts

96 listed peers. Screen the industry

Mid cap

₹59,065 Cr, #5 of 97 in its industry by size.

Defensive

Beta 0.22 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Sep 2026: sales ₹25,605 Cr · profit ₹1,377 Cr
Market cap
₹59,065 Cr
Mid cap
P/E
41.6
Industry 30.0
Price to book
6.93
Peers 9.06
Dividend yield
0.43%
ROE
20.6%
Peers 18.0%
ROCE
26.7%
Peers 22.1%
Debt to equity
0.12
Debt ₹1,014 Cr
EPS (TTM)
₹339.43
Face value ₹10
OPM (TTM)
9.5%
Net margin 5.4%
Sales growth
+21.3%
Latest quarter vs a year ago
Profit growth
+75.5%
Latest quarter vs a year ago
Price to sales
2.31
EV/EBITDA 24.2

Strengths and risks

Strengths

  • Return on equity of 20.6%.
  • Return on capital employed of 26.7%.
  • Quarterly profit up 75.5% on a year ago.
  • Quarterly sales up 21.3% on a year ago.

Risks to check

  • Promoter stake down from 57.8% to 55.4%.

Derived automatically from reported figures. Not a recommendation.

About Apar Industries

APAR Industries Limited engages in the electrical and metallurgical engineering business in India and internationally. It operates through Conductor, Transformer & Specialties Oils, Power/Telecom Cables, and Others segments. The company offers transformer oils, including naphthenic and iso--paraffinic grades; liquid paraffins that are used in baby oil, medical and pharma, cosmetic, food packaging and coating, personal care, bakery, and plastic industries;…

Headquarters
Mumbai
Sector
Industrials
ISIN
INE372A01015
Website
apar.com

Price range

52 weeks

₹6,801.00₹19,265.00

Today

₹13,780.00₹15,396.00
Avg volume (3M)
1.6 L
1-year return
plus 87.2%
From 52-week high
minus 26.8%

Analyst consensus

8 analysts
BuyMean target ₹17,425.13 plus 23.5%

Target range, with today’s price

Low ₹15,330.00High ₹19,000.00

Today’s price ₹14,106.00 is below the lowest analyst target.

Consensus from Yahoo Finance. Not a recommendation.

Peers · Electrical Equipment & Parts

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
POWERINDIAHitachi Energy India27,800.00minus 1.42%1,23,911107.795.324.9%16.1%0.0222.2%plus 37.9%
CGPOWERCG Power and Industrial Solutions773.00minus 4.43%1,21,78588.672.519.3%13.1%0.0221.2%plus 8.2%
POLYCABPolycab India7,871.00plus 0.28%1,18,61337.529.030.4%13.6%0.0226.6%plus 3.8%
HAVELLSHavells India1,128.00plus 5.61%70,78942.630.022.1%9.1%0.029.9%minus 28.1%
APARINDSApar Industries14,106.00minus 9.65%59,06541.630.726.7%9.5%0.1217.0%plus 87.2%
KEIKEI Industries3,988.00minus 1.80%38,14336.129.918.7%11.0%0.0419.1%plus 1.8%
HONAUTHoneywell Automation India30,080.00minus 0.79%26,61347.035.715.7%13.8%0.0210.9%minus 17.5%
SCHNEIDERSchneider Electric Infrastructure1,063.40minus 6.37%25,426157.868.024.8%11.5%0.7117.6%plus 27.6%
Median of 7 peers–−1.42%70,78947.035.722.1%13.1%0.0219.1%3.8%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Sep 25Dec 25Mar 26Jun 26Sep 26
5,084–5,4616,5716,5676,888
4,607–5,0176,0755,8096,167
477425444496758721
9.4%–8.1%7.5%11.5%10.5%
0–15.319.833.961.4
86.3–106137123138
38.2–40.642.545.747.1
––−25−7.5––
353–288329623597
25.4%–27.5%22.9%24.9%25.1%
263–209253467447
65.39–51.9262.96116.02109.78

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+17.0%
Profit CAGR 3Y
+15.3%
EPS CAGR 3Y
+13.4%
ROE
20.6%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
14,25816,04518,49222,810
–+12.5%+15.3%+23.3%
12,94314,45616,87920,877
1,3151,5891,6131,934
9.2%9.9%8.7%8.5%
−156−93−117−141
175283264285
104116132161
−25.195.1−36.3
8551,1061,1061,310
25.4%25.4%25.7%25.4%
638825821977
–+29.4%minus 0.5%+18.9%
166.64212.10204.47242.81

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
38.340.240.240.2
2,1983,8364,4635,353
376476585956
5,6055,2646,1757,362
8,2189,61611,26413,711
1,1061,3431,7752,381
157151237668
1512.212.113
549587896713
6,3917,5228,3449,936
8,2189,61611,26413,711

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
698−2831,291968
−267−268−705−558
−186635−483−434
24583.7104−24.4
−248−331−510−737
451−614782231
−57.4−153−205−205

Shareholding pattern

Source: NSE filings
55.4%
promoters
  • Promoters55.42%
  • Public44.58%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202655.42%44.58%0.00
13 Aug 202655.42%44.58%minus 2.34
30 Jun 202657.76%42.24%minus 0.01
31 Mar 202657.77%42.23%0.00
31 Dec 202557.77%42.23%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you