Apar Industries shares jump 12% on strong Q4 push; brokerages see more upside

Shares of Apar Industries Ltd surged 11.84 per cent to hit a high of Rs 7,749, backed by strong fourth quarter (Q4 FY25) numbers. The stock was last seen trading 11.68 per cent up at Rs 7,738.05. At this price, it has rallied 53.11 per cent in a month.

A few brokerages remained positive on the counter, factoring in the company's healthy outlook in the conductors segment. Prabhudas Lilladher (PL) noted that Apar's conductor's order book stood at Rs 6,890 crore (domestic Rs 2,550 crore; exports Rs 4,340 crore), with premium products contributing 44.8 per cent.

"We believe Apar's focus towards value-added products and strong traction in the exports business will continue to drive strong topline & profitability in the long run. The stock is currently trading at a P/E of 41.3x/32.2x FY25/26E. We roll forward to Mar-26 and maintain an ‘Accumulate’ rating with a revised SoTP-derived target price of Rs 8,877 (Rs6,890 earlier) valuing Conductors/Cables/Specialty Oil segments at 35x/40x/15x FY26E (27x/33x/12x Dec-25E earlier) owing to a robust business outlook across segments," the brokerage stated, adding that domestic demand continues to remain strong driven by railway infrastructure, renewables and defence.

Nuvama Institutional Equities retained its 'Buy' call on Apar Industries. "We believe Apar can rake in elevated profitability riding shift to premium conductors and speciality cables while a higher US exports mix adds to further growth. We are trimming FY26E/27E EPS by 4 per cent each as we assign 35x on FY27E EPS to a target price of Rs 10,500," it said.

In the conductors segment, Apar's revenue grew by 24.5 per cent YoY to Rs 2,890 crore while EBIT margin was at 8.3 per cent as against 11.6 per cent in Q4 FY24.

Bourses BSE and NSE have put the securities of Apar Industries under the long-term ASM (Additional Surveillance Measure) framework. Exchanges put stocks in short-term or long-term ASM frameworks to caution investors about high volatility in share prices.
    
The scrip saw high trading volume today along with the price action as around 28,000 shares were last seen changing hands on BSE. The figure was higher than the two-week average volume of 11,000 shares. Turnover on the counter came at Rs 23.72 crore, commanding a market capitalisation (m-cap) of Rs 31,232.07 crore.