The shares of Apar Industries Limited opened at Rs 1,770 levels and zoomed by 13 percent to reach a new 52-week high of Rs 1,999.90 in the early hours of the Budget day. In the past three sessions, the stock has gained more than 35 percent.
In Q3FY23, the company reported consolidated total revenue from the operations of Rs 3,942.37 Crores, a jump of 77 percent Year on Year from Rs 2,228.8 Crore and 22 percent Quarter on Quarter from Rs 3,234.88 crore.
Their export revenue was up by 144 percent Year on Year, driven by a 179 percent increase in the Cable Division and a 288 percent increase in the conductor division. The export mix was at 49% versus 35% in Q3FY22.
Their net profits jumped by 209 percent to be at Rs 169.9 Crore up from Rs 54.9 Crore in the same period a year earlier. From the previous quarter, their profits jumped by 66 percent from Rs 102.63 Crore.
Apar Industries Limited is a diversified manufacturer and supplier of conductors, a wide variety of cables, specialty oils, polymers, and lubricants. The company has expanded to over 140 countries.
The shares have risen from Rs 694 in February 2022 up to the current levels logging a multibagger return of 176 percent. An investment of Rs 1 lakh then would be worth Rs 2.76 lakhs today.
The company has a market capitalization of Rs 7,565 Crore and a dividend yield of 0.76%. The stock remains undervalued in the market as its TTM PE is at 21 whereas the industry average is 27.01.
The promoters hold a 60.64 percent stake in the company and haven’t pledged any shares. Foreign Institutional Investors (FIIs) hold a 6.73 percent stake while the Domestic Institutional investors (DIIs) have a 17.53 percent stake.
Written by Anoushka Roy
