Any current/future capex/capital investment/strategic investment?

APAR Industries is planning capex of about INR 300-350 crores for FY 25. (Page 21) Delivery cycles for critical equipment have been long with further delays; however, the company is accelerating capex spending to build buffers and stay on schedule. (Page 19) The capex plan is progressing as per schedule despite logistics and freight challenges impacting shipments, with about INR 270 crores of shipments delayed in Q1 mainly due to logistics issues. (Pages 18, 17) The company aims to complete all committed capex from the previous year on time. (Page 18) Strategic focus includes expanding infrast

Future growth expectations in sales/revenue/volumes?

Conductor business volume growth expected between 10-15% annually (Page 10, 11). Cable business projected to grow around 25% annually in value terms (Page 11, 12). Domestic cable business growing strongly, with over 40% growth this quarter; export recovery to boost overall growth (Page 12). Transformer oil volume growth strong; APAR experienced 20% growth, driven by market share gains; overall oil division volumes up 5.9% (Page 11). Automotive oils and industrial lubricants showing double-digit and mid-single-digit growth respectively (Page 11). Data center and renewable energy investments exp

Future growth expectations in earnings/operating earnings/profits/EPS?

APAR Industries expects strong growth drivers to remain intact through FY 25 and beyond, signaling sustained optimism. Cable business is guided for approximately 25% annual volume growth with EBITDA margins around 10-12%. Domestic cable business is growing rapidly, with over 40% growth this quarter, and export demand expected to recover post Q2 logistics disruptions. Transformer oil business grew 20% in volumes, outpacing market growth, contributing to a 15% quarter-on-quarter EBITDA increase for the oil segment. Overall EBITDA grew by 6.8% YoY to INR394 crores with a margin of 9.8%, a

Current/ Expected Orderbook/ Pending Orders?

Current order book for conductors stands at INR 6,725 crores. Premium products contribute about 41% of the conductor order book. Cable business order book is INR 1,571 crores. New order inflow in the quarter was INR 1,794 crores. Export order inflow currently affected by regulatory delays and logistics challenges but inquiry levels are increasing. Expect normalization in exports and possibly higher order inflow in the second half of the year. Domestic business shows strong growth with good order inflow, especially in cables and conductors. Overall, the order book reflects a positive outlook wi

Apar Industries LtdQ1 FY25Electrical Equipment

Apar Industries Ltd Q1 FY25 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹16,914P/E: 58.8Market Cap: ₹70.8K CrSector: Electrical Equipment

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

N/A

Order

N/A

Capex

Yes

1 of 3 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

Conductor business volume growth expected between 10-15% annually (Page 10, 11).
Cable business projected to grow around 25% annually in value terms (Page 11, 12).
Domestic cable business growing strongly, with over 40% growth this quarter; export recovery to boost overall growth (Page 12).
Transformer oil volume growth strong; APAR experienced 20% growth, driven by market share gains; overall oil division volumes up 5.9% (Page 11).
Automotive oils and industrial lubricants showing double-digit and mid-single-digit growth respectively (Page 11).
Data center and renewable energy investments expected to drive demand for transformers, conductors, and transformer oil (Page 22).
Despite short-term disruptions (e.g., container shortages), medium to long-term growth drivers remain intact with optimism for robust expansions (Page 25, 26).
Cables capacity running over 90%; capex of INR 300-350 crore yearly largely focused on cable and conductor division (Page 22).

Margin guidance

Category 3

APAR Industries expects strong growth drivers to remain intact through FY 25 and beyond, signaling sustained optimism.
Cable business is guided for approximately 25% annual volume growth with EBITDA margins around 10-12%.
Domestic cable business is growing rapidly, with over 40% growth this quarter, and export demand expected to recover post Q2 logistics disruptions.
Transformer oil business grew 20% in volumes, outpacing market growth, contributing to a 15% quarter-on-quarter EBITDA increase for the oil segment.
Overall EBITDA grew by 6.8% YoY to INR394 crores with a margin of 9.8%, and PAT increased by 2.6% YoY to INR203 crores with a 5.1% margin this quarter.
The company projects capital expenditure of INR300-350 crores this fiscal to support growth.
Market conditions such as increased focus on renewable energy and transmission infrastructure add to optimistic medium-term earnings growth prospects.

See what Apar Industries Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

The transcript provided does not mention any current or future plans for fundraising through debt or equity by APAR Industries Limited. Key points related to financials and capex from the transcript are: - Capex planned around INR 300-350 crores for FY '25, progressing as per plan with some acceleration to build buffers. - No explicit discussion or announcements about raising funds via debt or equity. - The company is managing working capital through hedging and maintaining margins amid raw material price fluctuations. - Growth is expected to be funded primarily through operational cash flows and planned capex budgets. Therefore, based on the Q1 FY 25 earnings call transcript, there is no indication of any new fundraising through debt or equity.

Order book

Current order book for conductors stands at INR 6,725 crores.
Premium products contribute about 41% of the conductor order book.
Cable business order book is INR 1,571 crores.
New order inflow in the quarter was INR 1,794 crores.
Export order inflow currently affected by regulatory delays and logistics challenges but inquiry levels are increasing.
Expect normalization in exports and possibly higher order inflow in the second half of the year.
Domestic business shows strong growth with good order inflow, especially in cables and conductors.
Overall, the order book reflects a positive outlook with robust growth drivers in both domestic and export markets.

See what Apar Industries Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

APAR Industries is planning capex of about INR 300-350 crores for FY 25. (Page 21)
Delivery cycles for critical equipment have been long with further delays; however, the company is accelerating capex spending to build buffers and stay on schedule. (Page 19)
The capex plan is progressing as per schedule despite logistics and freight challenges impacting shipments, with about INR 270 crores of shipments delayed in Q1 mainly due to logistics issues. (Pages 18, 17)
The company aims to complete all committed capex from the previous year on time. (Page 18)
Strategic focus includes expanding infrastructure to meet growing demand, especially linked to data center power needs and transmission line projects in India and exports. (Pages 22-26)

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Apar Industries Ltd Q1 FY25 Earnings Call Analysis

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Fundraise plans

Capex plans

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What Apar Industries Ltd's management said in earlier quarters

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