Apar Industries rallies 6%, hits new high in weak market; here's why

Thus far in the calendar year 2026, Apar Industries has outperformed the market by surging 67 per cent, as compared to 13.4 per cent fall in the BSE Sensex.

Apar Industries share price

 

Share price of Apar Industries hit a new high of ₹14,080, surging 5 per cent on the BSE in Wednesday’s intra-day deals in an otherwise weak market owing to a healthy business outlook. In comparison, the BSE Sensex was down 1.1 per cent at 73,821 at 09:41 AM.

 

The stock surpassed its previous high of ₹13,590 touched on May 27, 2026. In the past two trading days, it has rallied 10 per cent. Thus far in the calendar year 2026, Apar Industries outperformed the market by surging 67 per cent, as compared to 13.4 per cent fall in the BSE Sensex.  CHECK Stock Market LIVE Updates

 

Apar Industries Q4, FY26 results

 

Apar posted its highest-ever annual revenue and profits. For the financial year 2025-26 (FY26), the company posted historically high revenue, growing at 23.3 per cent year-on-year (YoY) to reach at ₹22,902 crore. EBITDA grew 23.0 per cent YoY to ₹2,067 crore at EBITDA margin of 9.0 per cent. Profit after tax jumped 19 per cent YoY at ₹977 crore.

 

For the January to March 2026 quarter (Q4FY26), revenues came in at ₹6,603 crore up 26.7 per cent YoY, driven by sustained domestic business performance, improved product mix, higher realisation and growth in the US business. Domestic revenue was up 33.6 per cent over Q4FY25.

 

Despite geopolitical upheaval during the year, the company reported strong earnings in Q4FY26. With the massive decadal opportunity seen in an electricity demand, the management is optimistic on creating shareholder value year-on-year.

 

Apar is a global energy infrastructure solutions provider delivering technologies that enable the efficient generation, transmission and distribution of electricity. Its portfolio spans conductors, cables, transformer oils and EPC services across the power value chain.

 

Apar is the world's largest global aluminium and alloy conductor manufacturer. The company is India's largest exporter and producer of speciality and renewable cables. It is India's largest and the world's 3rd largest transformer oils manufacturer. Apar Industries is first and the only Indian company to provide end-to-end solutions in copper and fibre hybrid cables.

 

Apar Industries – outlook

 

Governments are allocating investments in building extensive road networks for freight transportation, ports, tunnels, airports and commercial buildings. There is a steady growth in personal mobility (including intercity), road freight transportation over longer distances with shorter turnaround time.

 

Increased manufacturing opportunities in India- capacity increase, higher speed, more automation all leading to higher volume of lubricant and higher value for performance and protection of more sophisticated equipment's. The agriculture mechanization – tractors, farming equipment being driven by agriculture productivity, the company said.

 

Apar is offering complete range of specialised cables that goes into infrastructure equipment and infrastructure building. It is one of the largest suppliers of lubricant for tractor manufacturers and farming equipment's in India – oil immersed brakes, universal engine and transmission oils, and other lubricants, the company said in corporate presentation.

 

ICICI Securities view on Apar Industries

 

Apar’s performance is remarkable considering the challenges in FY26 – the US tariff issue, impact of the Middle East conflict and material costs inflation. Growth was driven by mainly conductors/cables with 33 per cent/26 per cent revenue growth. 

 

While near-term headwinds remain owing to elevated metal prices, Middle East’s supply disruption, and freight inflation, Apar is targeting capex of ₹1,500 crore in FY27 (vs. ₹740 crore in FY26). This underscores its conviction in a multiyear demand runway driven by transmission & distribution (T&D) tailwinds, data centres, and higher US market penetration. Structurally, the growth trajectory remains intact, analysts at ICICI Securities said in result update. The brokerage firm maintains a 'BUY' rating on Apar with a target price of ₹14,800 per share.  ==========================================  Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.