The shares of this Multibagger electric equipment company were trading in green and rose more than 5 percent after the company made an announcement. 

On Tuesday at 1 p.m. the shares of Apar Industries were trading at a share price of Rs 5,718 up 5 percent from its previous day close price and the company has a market capitalization of 21,857 Cr. 

According to the company’s exchange filing, the company has announced that it is going to consider raising funds in the company’s board meeting that is going to be held on September 28, 2023. 

This meeting is going to be organized by J.P Morgan and in this meeting the board is going to discuss, consider and approve a proposal for further raising capital and the type of securities to be issued in return for the funds.

Apar Industries has delivered multibagger returns of 351 percent in one year and 150 percent in six months. An investment of Rs.1 lakh in the company would be worth Rs. 4.51 lakh after one year. 

Apar Industries revenue increased by 54 percent from 9,316.57 Cr in FY22 to 14,352.15 Cr in FY23, accompanied by profits which increased by 148.4 percent from 256.73 Cr to 637.72 Cr. 

In FY23 Apar industries has reported a return on equity (ROE) of 32.28 percent and return on capital employed (ROCE) of 52.72%, which indicate a good return on equity and efficient use of the company’s resources. 

According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 60.64 percent stake, Domestic Institutional Investors hold 17.97 percent and the Foreign Institutional Investors hold 7.47 percent. 

Apar Industries is one of the leading manufacturer and supplier of conductors, a wide variety of cables, specialty oils, polymers and lubricants. 

Written by: Bharath K.S


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