“Board of Directors of the company at its meeting held on 14th May, 2024, recommended final dividend for the financial year ended 31st March, 2024, at Rs. 51/- per share (face value Rs.10/- per share) on 4,01,68,315 Equity shares aggregating to Rs 204.86 crore. This will be paid after approval by members at the ensuing Annual General Meeting,” the filing read.
The EBITDA for the fourth quarter of FY24 was up 3% YoY at Rs 457 crore while the same for the entire FY24 was up 25% at Rs 1,632.
“Fourth quarter delivered a good performance with highest ever revenues and operating results. Our premium businesses viz, premium conductors, speciality cables and transformer oil continue to outperform. The export market witnessed a contraction because of de-inventorisation, red sea issue, inflation and higher cost of capital. However, domestic demand contributed to strong results. The fundamental growth drivers remain intact,” said Kushal N Desai, chairman & MD of APAR Industries.
Apar Industries is the world’s largest conductor manufacturer, third largest transformer oil manufacturer and India’s largest renewable cables manufacturer.Apar’s Q4 volume grew 14% in the conductors’ segment and 5% in specialty oils. Q4 revenue for the cable segment was up 15% YoY due to slowdown in the US market. However, domestic demand continued to remain strong, said the company in a filing.The stock has risen by 208% in the last one year while a 37% hike has been noted for the current year.Also read: Zydus Wellness shares rally nearly 4% after reporting PAT at Rs 150 crore; declares Rs 5 dividend
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
