Q1 FY2024 consolidated revenue at ? 3,773 crores up 22% (YoY), EBIDTA at ? 369 crores up 54%(YoY)

APAR Industries Limited (BSE: 532259, NSE: APARINDS), the world’s largest conductor manufacturer, 3rd largest transformer oil manufacturer and India’s largest renewable cables manufacturer today announced its consolidated results for the quarter ended June 30, 2023. Key Financial Highlights:

 

Q1FY24

• Revenue at ? 3,773 cr ores; up 22% YoY

• EBIDTA at ? 369 cr ores; up 54% YoY

• PAT at ? 197 cr ores; up 61% YoY

 

Segmental Updates: Conductor:

• Revenue growth of 15% YoY with volumes growing 27% YoY during Q1

• EBIDTA post forex for the quarter came in at ? 177 cr ores. (Up 124% YoY)

• EBIDTA post forex at 38,740 per MT, owing to premiumisation & geography mix

• Revenue from premium products was 42% in Q1 F Y24 and e xports were up 58% YoY

• Order book as on end of Q1 FY24 stands ? 5,356 crores

 

Speciality Oils:

• Q1 revenue grew 13% YoY, driven by volume-led growth

• EBIDTA post forex adjustment was at 6,035 per Kl down by 38% YoY due to high base in LY

 

Cables Solutions:

• Q1 revenue grew 52% YoY, led by growth in exports and elas tomeric products

• Exports doubled vs Q1 FY23 contributing 52% of sales

• EBIDTA post forex adjustment continues to maintain double-digit margin at 11.4% in Q1

 

Commenting on the results as well as the outlook of the business Mr. Kushal N Desai, Chairman & MD of APAR Industries said, “The first quarter witnessed a strong start to FY 24 with volumes growing across all the divisions. The top-line and bottom-line witnessed historic heights in Q1. Our strategic initiatives taken in the past has augured well and we are currently reaping these benefits. We are focussed on the long term growth prospects of the company and committed to increase value to stakeholders”