This buzzing stock jumped more than 36 per cent in the last two trading sessions!

Yesterday, the company announced its Q3FY23 results.

On February 1, Finance Minister Nirmala Sitaraman announced the 2023 union budget. The budget was decent enough to let the market close trade in the green. The Sensex closed trading at 59708, 0.27 per cent up on the day. Regarding sectoral performance, Banks and Metals outperformed, while Utilities and Telecom were the Top Losers. Talking about stock-specific action, Apar Industries was among the Top Gainers in BSE group ‘A’. 

Apar Industries announced its Q3FY23 results yesterday. The Q3FY23 revenue came in at Rs 3916 crore, registering a staggering 76.34 per cent YoY growth. While the net profit more than tripled from Rs 54.9 crore in Q3FY22 to Rs 169.9 in Q3FY23. This excellent result led the stock to trade 14 per cent higher on the day. The stock opened at Rs 1750 and so far, the stock has made an intraday high and low of Rs 1999 and Rs 1750, respectively. The stock closed trading at Rs 1950. 

Apar Industries Ltd is a highly-trusted manufacturer and supplier of conductors, a wide variety of cables, speciality oils, polymers and lubricants. Established in 1958, it exports to over 140 countries, serving more than 10 industries. According to FY22, about 38.2 per cent of the revenue comes from exports while 61.8 per cent comes from the domestic market. As per the FY22 period ending, the company has an ROE and ROCE of 16.22 per cent and 28.51 per cent, respectively.  

It operates mainly into four segments- conductors, electrical, telecom and elastomer cables, speciality oils and lubricants (auto & industrial). Power Grid Corporation of India Limited, Adani Group and Mazagon Dock Shipbuilders are among the major clients of the company.      

About the shareholding pattern, 60.64 per cent of the company’s stake is owned by the promoters, 6.73 per cent by FIIs, 17.53 per cent by DIIs and the rest 15.1 per cent by non-institutional investors.