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Last Updated on: 14 April, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 532259 | NSE: APARINDS

Fundamental Analysis of Apar Industries Ltd

About the Company - Apar Industries Ltd

Apar Industries Ltd. is a Public Limited Listed company incorporated on 28/09/1989 and has its registered office in the State of Gujarat, India. Company’s Corporate Identification Number(CIN) is L91110GJ1989PLC012802 and registration number is 012802. Currently Company is involved in the business activities of Manufacture of other electronic and electric wires and cables. Company’s Total Operating Revenue is Rs. 8595.75 Cr. and Equity Capital is Rs. 38.27 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Chemicals - Speciality - Others301/306, Panorama Complex, Vadodra Gujarat 390007com.sec@apar.com
http://www.apar.com
Management
NamePosition Held
Mr. Kushal N DesaiChairman & Managing Director
Mr. C N DesaiManaging Director
Mrs. Nina KapasiInd. Non-Executive Director
Mr. Rajesh SehgalInd. Non-Executive Director
Mr. Kaushal J SampatInd. Non-Executive Director
Mr. Rishabh K DesaiNon Exe.Non Ind.Director

Apar Industries Ltd. Share Price Update

Share PriceValue
Today₹6,965.00
Previous Day₹7,148.00

Basic Stock Data of Apar Industries Ltd

Last Updated: April 6, 2024, 5:47 am

Market Cap 28,515 Cr.
Current Price 7,099
High / Low7,400/2,501
Stock P/E34.2
Book Value 613
Dividend Yield0.57 %
ROCE51.1 %
ROE32.3 %
Face Value 10.0

Data Source: screener.in

Competitors of Apar Industries Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Savita Oil Technologies Ltd 3,348 Cr. 484509/26516.1 2210.83 %24.2 %16.1 % 2.00
Aarti Surfactants Ltd 557 Cr. 658854/54326.1 2090.00 %10.6 %8.36 % 10.0
Pidilite Industries Ltd 1,53,964 Cr. 3,0273,074/2,29389.9 1480.37 %23.8 %18.7 % 1.00
Chemcon Speciality Chemicals Ltd 938 Cr. 256319/23035.1 1281.56 %15.4 %12.5 % 10.0
Camex Ltd 42.7 Cr. 41.851.9/23.616.9 37.50.00 %4.83 %2.12 % 10.0
Industry Average31,769.94 Cr893.3636.82148.700.55%15.77%11.56%6.60

Apar Industries Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales1,7141,8991,8102,2692,2293,0123,0933,2353,9394,0893,7733,9254,013
Expenses1,5531,7951,6802,1422,1122,8392,8563,0093,5963,6653,4273,5763,608
Operating Profit161104129128117174237226343424346349405
OPM %9%6%7%6%5%6%8%7%9%10%9%9%10%
Other Income5612579412711141921
Interest3722383126466171947970103113
Depreciation23242424252525262627272829
Profit before tax10664797774112156141230328263237284
Tax %22%25%21%26%26%26%21%27%26%26%25%27%23%
Net Profit824862575583122103170243197174218
EPS in Rs21.5512.4516.2814.8714.3621.5932.0026.8244.4063.4351.5945.4454.16

Last Updated: April 5, 2024, 1:33 am

Apar Industries Ltd Quarterly Chart

Apar Industries Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales3,5894,6434,6285,1085,0784,8325,8187,9647,4256,3889,31714,35215,800
Expenses3,3684,3224,3214,8434,6984,3985,3937,4726,9305,9488,73913,08514,276
Operating Profit2223213072643804344264914954405781,2671,524
OPM %6%7%7%5%7%9%7%6%7%7%6%9%10%
Other Income47-341101511151519333664
Interest170144155162175131158223254157171344365
Depreciation2224273138455667879398104112
Profit before tax77150129721782732232161692083428551,112
Tax %3%27%30%32%32%36%35%37%20%23%25%25%
Net Profit741109049122177145136135160257638832
EPS in Rs20.3028.4523.3712.8631.6146.1437.8235.5535.3241.9467.09166.64214.62
Dividend Payout %20%18%22%27%21%22%25%27%27%23%22%24%

Apar Industries Ltd Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)48.65%-18.18%-45.56%148.98%45.08%-18.08%-6.21%-0.74%18.52%60.62%148.25%
Change in YoY Net Profit Growth (%)0.00%-66.83%-27.37%194.54%-103.90%-63.16%11.87%5.47%19.25%42.11%87.62%

Apar Industries Ltd Growth

Compounded Sales Growth
10 Years:12%
5 Years:20%
3 Years:25%
TTM:19%
Compounded Profit Growth
10 Years:19%
5 Years:35%
3 Years:68%
TTM:74%
Stock Price CAGR
10 Years:47%
5 Years:60%
3 Years:149%
1 Year:170%
Return on Equity
10 Years:17%
5 Years:18%
3 Years:22%
Last Year:32%

Apar Industries Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital36383838383838383838383838
Reserves4855886586918159981,0701,1641,1281,3611,6772,1982,425
Borrowings993984792494384305363253372325359376416
Other Liabilities1,3191,6481,5101,7321,6802,1072,8053,5013,1163,2754,5335,6055,456
Total Liabilities2,8333,2582,9982,9562,9193,4484,2764,9574,6544,9996,6088,2188,335
Fixed Assets1852633593953985746497098858788819501,005
CWIP2245181056282010355293899154
Investments08025112119018706031546
Other Assets2,6272,8702,6202,5462,3522,7283,6083,9583,7144,0325,6577,1147,170
Total Assets2,8333,2582,9982,9562,9193,4484,2764,9574,6544,9996,6088,2188,335

Apar Industries Ltd Reserves and Borrowings Chart

Apar Industries Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 25453-63229841231222563294281244698
Cash from Investing Activity -43-208-12-59-223-166-5-38845-115-91-269
Cash from Financing Activity 436-23-181-369-153-157-69-293-189-123-106-184
Net Cash Flow417223-824-13036-11151-49-494346246

Apar Industries Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days88648791789510998931069981
Inventory Days8675101847210298748511910888
Days Payable106148136141130181207188182231207177
Cash Conversion Cycle68-9523420150-16-4-61-8
Working Capital Days491167492436321018303122
ROCE %20%19%18%17%28%31%27%30%28%22%27%51%

Apar Industries Ltd Financial Efficiency Indicators Chart

Apar Industries Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters60.46%60.46%60.46%60.46%60.57%60.64%60.64%60.64%60.64%60.64%60.64%57.77%
FIIs4.18%4.08%5.07%5.55%5.52%5.94%6.30%6.73%6.66%7.47%9.09%10.98%
DIIs19.49%19.36%17.76%17.86%18.25%17.87%16.76%17.53%17.95%17.97%17.06%18.62%
Government0.23%0.23%0.23%0.26%0.26%0.00%0.01%0.00%0.00%0.00%0.00%0.00%
Public15.63%15.86%16.47%15.87%15.41%15.56%16.30%15.10%14.75%13.92%13.23%12.63%
No. of Shareholders28,11930,12233,72433,23134,46039,68054,21258,21262,72671,66092,40394,354

Apar Industries Ltd Shareholding Pattern Chart

No. of Apar Industries Ltd Shareholders

Apar Industries Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Nippon India Small Cap Fund10801161.49682.77
HDFC Balanced Advantage Fund - Regular Plan8272930.68522.96
HSBC Small Cap Fund - Regular Plan7016013.17443.5
HDFC Small Cap Fund - Regular Plan5753711.27363.71
DSP Flexi Cap Fund5118033.21323.53
DSP Equity & Bond Fund3419772.44216.17
Axis Midcap Fund2974690.77188.04
DSP Small Cap Fund2012020.92127.19
Bandhan Flexi Cap Fund1999501.88126.39
DSP Mid Cap Fund1987780.76125.65

Apar Industries Ltd ROCE Trend

Apar Industries Ltd EPS Trend

Apar Industries Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)166.6467.0941.9435.3235.55
Diluted EPS (Rs.)166.6467.0941.9435.3235.55
Cash EPS (Rs.)193.9192.6266.3558.0852.97
Book Value[Excl.RevalReserv]/Share (Rs.)584.37448.19368.23304.79314.18
Book Value[Incl.RevalReserv]/Share (Rs.)584.37448.19368.23304.79314.18
Revenue From Operations / Share (Rs.)3750.242435.321669.201949.762080.96
PBDIT / Share (Rs.)330.39151.64114.38126.52126.15
PBIT / Share (Rs.)303.13126.0889.97103.75108.72
PBT / Share (Rs.)223.3089.3354.4244.2756.50
Net Profit / Share (Rs.)166.6467.0541.9435.3135.55
NP After MI And SOA / Share (Rs.)166.6467.0841.9435.3135.55
PBDIT Margin (%)8.806.226.856.486.06
PBIT Margin (%)8.085.175.385.325.22
PBT Margin (%)5.953.663.262.272.71
Net Profit Margin (%)4.442.752.511.811.70
NP After MI And SOA Margin (%)4.442.752.511.811.70
Return on Networth / Equity (%)28.5114.9611.3811.5811.31
Return on Capital Employeed (%)46.5823.6520.3927.9130.10
Return On Assets (%)7.763.883.202.902.70
Long Term Debt / Equity (X)0.060.110.130.160.10
Total Debt / Equity (X)0.130.140.150.240.18
Asset Turnover Ratio (%)1.851.541.281.511.68
Current Ratio (X)1.221.221.221.131.14
Quick Ratio (X)0.770.740.740.720.79
Inventory Turnover Ratio (X)4.363.853.114.264.98
Dividend Payout Ratio (NP) (%)9.0014.160.0064.8432.20
Dividend Payout Ratio (CP) (%)7.7310.250.0039.4221.61
Earning Retention Ratio (%)91.0085.840.0035.1667.80
Cash Earning Retention Ratio (%)92.2789.750.0060.5878.39
Interest Coverage Ratio (X)4.144.133.222.132.42
Interest Coverage Ratio (Post Tax) (X)3.092.822.181.591.68
Enterprise Value (Cr.)9354.382475.331805.891206.942572.43
EV / Net Operating Revenue (X)0.650.260.280.160.32
EV / EBITDA (X)7.404.274.132.495.33
MarketCap / Net Operating Revenue (X)0.660.260.280.140.32
Retention Ratios (%)90.9985.830.0035.1567.79
Price / BV (X)4.281.451.290.942.15
Price / Net Operating Revenue (X)0.660.260.280.140.32
EarningsYield0.060.100.080.120.05

Apar Industries Ltd Profitability Ratios (%)

Apar Industries Ltd Liquidity Ratios

Apar Industries Ltd Liquidity Ratios (%)

Apar Industries Ltd Interest Coverage Ratios (X)

Apar Industries Ltd Valuation Ratios

Fair Value / Intrinsic Value of Apar Industries Ltd

Fair Value: 6810.16

The stock is overvalued by 4.07% compared to the current price ₹7099

Calculation basis:

  • Fair value = (P/E Ratio * (Return on Equity / 100) * Book Value) * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

*Investments are subject to market risks

Strength and Weakness of Apar Industries Ltd

StrengthWeakness
  1. The stock has a high average ROCE of 26.50%, which is a positive sign.
  2. The company has higher reserves (1,173.69 cr) compared to borrowings (493.54 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (6.77 cr) and profit (222.54 cr) over the years.
  1. The stock has a high average Working Capital Days of 31.58, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 12.25, which may not be favorable.

Should I Buy Apar Industries Ltd Share Now?

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Apar Industries Ltd:
    1. Net Profit Margin: 4.44%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 46.58% (Industry Average ROCE: 21.31%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 28.51% (Industry Average ROE: 16.28%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 3.09
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.77
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. ✓ Stock P/E: 34.2 (Industry average Stock P/E: 63.38)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. ✓ Total Debt / Equity: 0.13
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating: ★★★★☆

FAQ

What is the latest fair value of Apar Industries Ltd?

The latest fair value of Apar Industries Ltd is 6810.16.

What is the Market Cap of Apar Industries Ltd?

The Market Cap of Apar Industries Ltd is 28,515 Cr..

What is the current Stock Price of Apar Industries Ltd as on 13 April 2024?

The current stock price of Apar Industries Ltd as on 13 April 2024 is 7,099.

What is the High / Low of Apar Industries Ltd stocks in FY 2024?

In FY 2024, the High / Low of Apar Industries Ltd stocks is ₹7,400/2,501.

What is the Stock P/E of Apar Industries Ltd?

The Stock P/E of Apar Industries Ltd is 34.2.

What is the Book Value of Apar Industries Ltd?

The Book Value of Apar Industries Ltd is 613.

What is the Dividend Yield of Apar Industries Ltd?

The Dividend Yield of Apar Industries Ltd is 0.57 %.

What is the ROCE of Apar Industries Ltd?

The ROCE of Apar Industries Ltd is 51.1 %.

What is the ROE of Apar Industries Ltd?

The ROE of Apar Industries Ltd is 32.3 %.

What is the Face Value of Apar Industries Ltd?

The Face Value of Apar Industries Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Apar Industries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE