āagman

Not investment advice. Data and computed figures, for information only.

Apar Industries Ltd

NSE: APARINDS
₹16,914.00
−₹1,006.00 (−5.61%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹75,303 Cr
CMP
₹16,914.00
52-wk High / Low
₹19,265 / 6,801
P/E
62.5
P/B
13.4
Book Value
₹1,343.0
Div Yield
0.33%
ROCE
32.0%
ROE
20.3%
Face Value
₹10
D/E
0.18

Price+101.7% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
4
/ 9
4 of 9 F-score tests passed
Graham Number
₹2,711
√(22.5 × EPS × book value per share)
ROIC
20.7%
vs 12.3% sector median
Cash flow to profit
0.99
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+264
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
16.1%
ROE × earnings retention ratio
ROE stability
4.6
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −2.35FII +1.98DII +0.73
Latest quarter vs the previous one
Cash-accrual divergence
0.1%
of assets
Low = accruals track cash flow
Strengths
+ROCE has stayed above the sector median for 5 consecutive years (weakest: 27% vs the 2022 sector median of 17%)
+Price trades above its 200-day moving average (1.3x)
+FII holding rose by 4.7pp over the last year
Watch-outs
−Borrowings are up 149.0% since FY2016 (384 to 956)
−Annualised volatility of 46.1% is in the high band (≥45%)
−Promoter holding fell by 5.2pp over the last year

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales3,7673,9254,0094,4554,0114,6454,7165,2105,1045,7155,4806,6036,591
Expenses3,4213,5763,6044,0283,6344,2884,3604,7554,6525,2505,0286,1075,833
Operating Profit346349405427377357356455452465452496758
OPM %9.2%8.9%10.1%9.6%9.4%7.7%7.5%8.7%8.9%8.1%8.2%7.5%11.5%
Other Income14192127153334202523−171234
Interest701031131019010111810086108106137123
Depreciation27282931313233363840414246
Profit before tax263237284322270257238340353341288329623
Net Profit197174218236203194175250263252209253467
EPS (₹)51.5945.4454.1658.8150.4248.2743.5562.2465.4562.6652.0163.09116.36

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales5,1085,0784,8325,8187,9647,4256,3889,31714,33616,15318,58122,90224,389
Expenses4,8434,6984,3985,3937,4726,9305,9488,73913,06914,58516,98120,98022,218
Operating Profit2643804344264914954405781,2671,5681,6011,9222,171
OPM %5.2%7.5%9.0%7.3%6.2%6.7%6.9%6.2%8.8%9.7%8.6%8.4%8.9%
Other Income1101511151519333686812452
Interest162175131158223254157171344432443474474
Depreciation3138455667879398104116132161169
Profit before tax721782732232161692083428551,1061,1061,3101,580
Net Profit491221771451361351602576388258219771,182
EPS (₹)12.8631.6146.1437.8235.5535.3241.9467.09166.64205.41204.46243.21294.12

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital383838383838383838404040—
Reserves6918159981,0701,1641,1281,3611,6772,1983,8364,4635,353—
Borrowings494384305363253372325359376476585956—
Other Liabilities1,7321,6802,1072,8053,5013,1163,2754,5335,6055,2646,1757,362—
Total Liabilities2,9562,9193,4484,2764,9574,6544,9996,6088,2189,61611,26413,711—
Fixed Assets3953985746497098858788819501,1931,5401,717—
CWIP1056282010355293899122130540—
Investments5112119018706031541121955—
Other Assets2,5462,3522,7283,6083,9583,7144,0325,6577,1148,2909,37311,399—
Total Assets2,9562,9193,4484,2764,9574,6544,9996,6088,2189,61611,26413,711—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity−63229841231222563294281244698−2831,291968
Cash from Investing Activity−12−59−223−166−5−38845−115−91−267−267−705−552
Cash from Financing Activity−181−369−153−157−69−293−189−123−106−186635−483−434
Net Cash Flow−824−13036−11151−49−49434624685103−18

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %18.017.028.031.027.030.028.022.027.051.044.033.032.0
ROE %————————————20.3
EPS (₹)23.3712.8631.6146.1437.8235.5535.3241.9467.09166.64205.41204.46243.21
Book Value (₹)————————————1,343.0
Face Value (₹)————————————10
P/E————————————62.5
Div Yield %————————————0.33
NPM %1.91.02.43.72.51.71.82.52.74.45.14.44.3
OPM %7.05.07.09.07.06.07.07.06.09.010.09.08.0
D/E1.140.680.450.290.330.210.320.230.210.170.120.130.18
P/B————————————13.4

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+16.0%
5 years+29.0%
3 years+17.0%
TTM+24.0%
Compounded profit growth
10 years+24.0%
5 years+44.0%
3 years+16.0%
TTM+37.0%
Stock price CAGR
10 years+42.0%
5 years+91.0%
3 years+49.0%
Last year+114.0%
Return on equity
10 years20.0%
5 years22.0%
3 years22.0%
Last year20.0%

Shareholding pattern

As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters57.96%57.96%57.96%57.96%58.55%59.69%60.46%60.57%60.64%57.77%57.77%57.77%55.42%
FIIs8.37%8.37%8.37%7.37%5.87%5.81%4.18%5.52%6.66%11.55%9.87%9.38%11.36%
DIIs18.40%18.40%18.40%21.50%24.69%23.42%19.49%18.25%17.95%18.90%20.63%24.15%24.88%
Government0.00%0.00%0.00%0.13%0.14%0.22%0.23%0.26%0.00%0.00%0.00%0.00%0.00%
Public15.27%15.27%15.27%13.04%10.75%10.86%15.63%15.41%14.75%11.78%11.73%8.71%8.34%
No. of shareholders24,79524,79524,79526,64823,15323,17628,11934,46062,72690,9691,14,55389,00997,938
Change since Jun 2023 (pp)
Promoters −2.54FIIs +2.99DIIs +6.48Public −6.93

Documents

As of 11 Oct 2026
Announcements
Board Meeting Intimation for Un-Audited Financial Results For The Second Quarter And Half-Year Ended September 30, 2026Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Closure of Trading WindowLetter To Shareholders W.R.T. Reminder To Furnish KYC DetailsShareholder Meeting / Postal Ballot-Scrutinizer''s Report
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Jul 2026TranscriptJul 2026PPTJul 2026RecordingJun 2026TranscriptJun 2026PPTJun 2026RecordingFeb 2026TranscriptFeb 2026PPTFeb 2026RecordingNov 2025TranscriptNov 2025PPTNov 2025RecordingAug 2025TranscriptAug 2025PPTAug 2025Recording

Corporate actions

As of 11 Sep 2026
11 Sep 2026DIVIDENDDividend - Rs 60 Per Share—
29 Jul 2025DIVIDENDDividend - Rs 51 Per Share—
20 Aug 2024DIVIDENDAnnual General Meeting/Dividend - Rs 51 Per Share—
4 Aug 2023DIVIDENDAnnual General Meeting/Dividend - Rs 40 Per Share—
4 Aug 2022DIVIDENDAnnual General Meeting/Dividend - Rs 15 Per Share—
5 Aug 2021DIVIDEND Annual General Meeting/Dividend - Rs 9.50 Per Share—
5 Mar 2020DIVIDEND Interim Dividend - Rs 9.5 Per Share—
31 Jul 2019DIVIDEND Annual General Meeting/Dividend - Rs 9.50 Per Share—
1 Aug 2018DIVIDEND Annual General Meeting/Dividend- Rs 9.50 Per Share—
1 Aug 2017DIVIDEND Annual General Meeting/Dividend - Rs 10/- Per Share—
22 Mar 2016DIVIDEND Interim Dividend - Rs 5.50/- Per Share + Special Dividend - Re 1/- Per Share (Purpose Revised)—
30 Jul 2015DIVIDENDAnnual General Meeting/Dividend - Rs 3.50/- Per Share—
24 Jul 2014DIVIDENDAnnual General Meeting / Dividend - Rs 5.25/- Per Share / Annual Book Closure—
1 Aug 2013DIVIDENDAnnual General Meeting/Dividend Rs 5.25/- Per Share—
2 Nov 2012DIVIDENDAnnual General Meeting And Dividend Rs.4/- Per Share—
12 Aug 2011DIVIDENDAnnual General Meeting And Dividend Rs.3.50 Per Share—
3 Nov 2010DIVIDENDInterim Dividend-Rs.2.50 Per Share—
22 Jul 2010DIVIDENDAnnual General Meeting And Dividend Rs.5/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman