Apar Industries Ltd.Record quarter across all three divisions despite Iran war disruption

Apar Industries delivered its strongest quarter ever, with consolidated revenue up 29.1% YoY to Rs. 6,591 crore and profit after tax up 77.7% to Rs. 467 crore, even while navigating the fallout of the US-Iran war, disrupted export logistics and a sharp aluminum price spike that delayed customer manufacturing clearances. EBITDA rose 62.7% to Rs. 814 crore, with margin expanding to 12.4% from 9.8%, led by the specialty oil division, where backward-looking contract pricing against a rising spot market pushed EBITDA per kilolitre to Rs. 25,482 from Rs. 7,004 a year ago -- a gain management flagged as unlikely to repeat given a subsequent Rs. 94 crore inventory provision once prices reversed.

The conductor division landed over Rs. 2,800 crore in combined new orders from two major US and European utilities, while fresh cable qualifications with Meta, Microsoft and Google open the door to copper cable business beyond Apar's existing aluminum franchise. Management declined all forward-looking commentary this quarter, citing publicity restrictions tied to a pending securities issuance, but confirmed order inquiries have normalized as metal prices stabilized off their war-driven peaks, and capacity utilization is running at 80-90% across all three divisions.