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Apar Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹9,536.72Overvalued by 23.35%vs CMP ₹12,442.00

P/E (50.4) × ROE (19.5%) × BV (₹1,208.00) × DY (0.41%)

₹4,955.54Overvalued by 60.17%vs CMP ₹12,442.00
MoS: -151.1% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹12,329.8023%Fair (-0.9%)
Graham NumberEarnings₹2,566.5317%Over (-79.4%)
Earnings PowerEarnings₹1,466.2511%Over (-88.2%)
DCFCash Flow₹5,774.4311%Over (-53.6%)
Net Asset ValueAssets₹1,208.057%Over (-90.3%)
EV/EBITDAEnterprise₹3,238.729%Over (-74%)
Earnings YieldEarnings₹2,423.507%Over (-80.5%)
ROCE CapitalReturns₹2,350.519%Over (-81.1%)
Revenue MultipleRevenue₹2,313.146%Over (-81.4%)
Consensus (9 models)₹4,955.54100%Overvalued
Key Drivers: EPS CAGR 29.3% lifts DCF — verify sustainability. | Wide model spread (₹1,208–₹12,330) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 29.3%

*Investments are subject to market risks

Analyst Summary

Apar Industries Ltd operates in the Chemicals - Speciality - Others segment, NSE: APARINDS | BSE: 532259, current market price is ₹12,442.00, market cap is 49,972 Cr.. At a glance, stock P/E is 50.4, ROE is 19.5 %, ROCE is 32.7 %, book value is 1,208, dividend yield is 0.41 %. The latest intrinsic value estimate is ₹4,955.54, around 60.2% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹18,581 Cr versus the prior period change of 15.0%, while latest net profit is about ₹821 Cr with a prior-period change of -0.5%. The 52-week range shown on this page is 12,850/5,300, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisApar 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 L9111…

This summary is generated from the stock page data available for Apar Industries Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

77
Apar Industries Ltd scores 77/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health88/100 · Strong
ROCE 32.7% ExcellentROE 19.5% ExcellentD/E 0.15 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money65/100 · Strong
FII holding stable No changeDII holding up 2.57% MF buyingPromoter holding at 57.8% Stable
Earnings Quality60/100 · Moderate
OPM stable around 10% SteadyWorking capital: 39 days (improving) Efficient
Quarterly Momentum78/100 · Strong
Revenue (4Q): +21% YoY AcceleratingProfit (4Q): +21% YoY Positive
Industry Rank90/100 · Strong
P/E 50.4 vs industry 79.7 Cheaper than peersROCE 32.7% vs industry 13.0% Above peers3Y sales CAGR: 26% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: May 4, 2026, 11:50 pm

Market Cap 49,972 Cr.
Current Price 12,442
Intrinsic Value₹4,955.54
High / Low 12,850/5,300
Stock P/E50.4
Book Value 1,208
Dividend Yield0.41 %
ROCE32.7 %
ROE19.5 %
Face Value 10.0
PEG Ratio1.72

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Apar Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Apar Industries Ltd 49,972 Cr. 12,442 12,850/5,30050.4 1,2080.41 %32.7 %19.5 % 10.0
Gujarat Fluorochemicals Ltd 41,215 Cr. 3,751 4,054/2,91761.8 6930.08 %9.89 %8.29 % 1.00
Himadri Speciality Chemical Ltd 30,785 Cr. 610 643/40741.0 93.30.10 %22.2 %17.8 % 1.00
Aarti Industries Ltd 18,616 Cr. 513 523/33845.2 1640.19 %6.85 %7.13 % 5.00
Aether Industries Ltd 16,597 Cr. 1,252 1,275/72389.1 1740.00 %9.92 %7.49 % 10.0
Industry Average14,305.79 Cr862.7379.73183.930.46%12.97%25.46%6.41

All Competitor Stocks of Apar Industries Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 3,9394,0843,7673,9254,0094,4554,0114,6454,7165,2105,1045,7155,480
Expenses 3,5963,6603,4213,5763,6044,0283,6344,2884,3604,7524,6525,2505,035
Operating Profit 343424346349405427377357356458452465444
OPM % 9%10%9%9%10%10%9%8%8%9%9%8%8%
Other Income 71114192127153334172523-10
Interest 9479701031131019010111810086108106
Depreciation 26272728293131323336384041
Profit before tax 230328263237284322270257238340353341288
Tax % 26%26%25%27%23%27%25%24%27%26%25%26%27%
Net Profit 170243197174218236203194175250263252209
EPS in Rs 44.4063.4351.5945.4454.1658.8150.4248.2743.5562.2365.4562.6652.01

Last Updated: February 6, 2026, 5:47 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 7:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 4,6285,1085,0784,8325,8187,9647,4256,3889,31714,33616,15318,58121,509
Expenses 4,3214,8434,6984,3985,3937,4726,9305,9488,73913,06914,58516,99919,689
Operating Profit 3072643804344264914954405781,2671,5681,5821,820
OPM % 7%5%7%9%7%6%7%7%6%9%10%9%8%
Other Income 411015111515193336869956
Interest 155162175131158223254157171344432443400
Depreciation 273138455667879398104116132154
Profit before tax 129721782732232161692083428551,1061,1061,321
Tax % 30%32%32%36%35%37%20%23%25%25%25%26%
Net Profit 9049122177145136135160257638825821974
EPS in Rs 23.3712.8631.6146.1437.8235.5535.3241.9467.09166.64205.41204.46242.35
Dividend Payout % 22%27%21%22%25%27%27%23%22%24%25%25%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-45.56%148.98%45.08%-18.08%-6.21%-0.74%18.52%60.62%148.25%29.31%-0.48%
Change in YoY Net Profit Growth (%)0.00%194.54%-103.90%-63.16%11.87%5.47%19.25%42.11%87.62%-118.94%-29.80%

Apar Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:14%
5 Years:20%
3 Years:26%
TTM:20%
Compounded Profit Growth
10 Years:32%
5 Years:43%
3 Years:48%
TTM:6%
Stock Price CAGR
10 Years:35%
5 Years:90%
3 Years:86%
1 Year:-12%
Return on Equity
10 Years:20%
5 Years:22%
3 Years:25%
Last Year:20%

Last Updated: September 4, 2025, 11:20 pm

Balance Sheet

Last Updated: December 4, 2025, 12:57 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 38383838383838383838404040
Reserves 6586918159981,0701,1641,1281,3611,6772,1983,8364,4634,812
Borrowings 792494384305363253372325359376476585704
Other Liabilities 1,5101,7321,6802,1072,8053,5013,1163,2754,5335,6055,2646,1755,756
Total Liabilities 2,9982,9562,9193,4484,2764,9574,6544,9996,6088,2189,61611,26411,313
Fixed Assets 3593953985746497098858788819501,1931,5401,553
CWIP 181056282010355293899122130366
Investments 25112119018706031541121928
Other Assets 2,6202,5462,3522,7283,6083,9583,7144,0325,6577,1148,2909,3739,365
Total Assets 2,9982,9562,9193,4484,2764,9574,6544,9996,6088,2189,61611,26411,313

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -63229841231222563294281244698-2831,291
Cash from Investing Activity + -12-59-223-166-5-38845-115-91-267-267-705
Cash from Financing Activity + -181-369-153-157-69-293-189-123-106-186635-483
Net Cash Flow -824-13036-11151-49-49434624685102
Free Cash Flow -72624328914697424-50226114452-613784
CFO/OP -200%120%108%95%67%143%35%74%58%72%-2%99%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-485.00-230.00-4.00129.0063.00238.00123.00115.00219.00-375.00-475.00-584.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 87917895109989310699818980
Inventory Days 1018472102987485119108858382
Days Payable 136141130181207188182231207172140137
Cash Conversion Cycle 523420150-16-4-61-53225
Working Capital Days 1222522216132527185039
ROCE %18%17%28%31%27%30%28%22%27%51%44%33%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 60.64%60.64%60.64%57.77%57.77%57.77%57.77%57.77%57.77%57.77%57.77%57.77%
FIIs 6.66%7.47%9.09%10.98%11.55%11.51%10.97%10.22%9.87%9.06%9.24%9.35%
DIIs 17.95%17.97%17.06%18.62%18.90%19.73%20.41%21.24%20.63%21.79%22.64%23.20%
Public 14.75%13.92%13.23%12.63%11.78%11.00%10.85%10.77%11.73%11.38%10.35%9.68%
No. of Shareholders 62,72671,66092,40394,35490,96991,4911,00,8211,02,3621,14,5531,12,3651,06,31697,761

Shareholding Pattern Chart

No. of Shareholders

Apar Industries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Kotak Midcap Fund 1,084,124 1.47 866.651,078,7772026-02-23 07:11:390.5%
Nippon India Small Cap Fund 879,502 1.07 703.07899,2712026-02-22 11:00:45-2.2%
Motilal Oswal Large and Midcap Fund 657,535 3.6 525.63626,2212026-02-23 03:00:285%
HDFC Balanced Advantage Fund 521,148 0.39 416.61N/AN/AN/A
HDFC Small Cap Fund 505,371 1.09 403.99N/AN/AN/A
Axis Midcap Fund 460,372 1.19 368.02480,2522026-02-21 04:14:00-4.14%
Axis Flexi Cap Fund 297,434 1.88 237.77N/AN/AN/A
Axis Focused Fund 283,723 1.99 226.81N/AN/AN/A
ICICI Prudential MidCap Fund 263,711 3.02 210.81257,5072026-02-23 09:05:352.41%
Bandhan Small Cap Fund 257,796 1.07 206.08254,7962026-02-23 03:11:261.18%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 204.47212.10166.6467.0941.94
Diluted EPS (Rs.) 204.47212.10166.6467.0941.94
Cash EPS (Rs.) 237.38234.36193.9192.6266.35
Book Value[Excl.RevalReserv]/Share (Rs.) 1121.12965.01584.37448.19368.23
Book Value[Incl.RevalReserv]/Share (Rs.) 1121.12965.01584.37448.19368.23
Revenue From Operations / Share (Rs.) 4625.644021.163750.242435.321669.20
PBDIT / Share (Rs.) 409.96400.49330.39151.64114.38
PBIT / Share (Rs.) 377.06371.68303.13126.0889.97
PBT / Share (Rs.) 275.27275.44223.3089.3354.42
Net Profit / Share (Rs.) 204.49205.56166.6467.0541.94
NP After MI And SOA / Share (Rs.) 204.46205.40166.6467.0841.94
PBDIT Margin (%) 8.869.958.806.226.85
PBIT Margin (%) 8.159.248.085.175.38
PBT Margin (%) 5.956.845.953.663.26
Net Profit Margin (%) 4.425.114.442.752.51
NP After MI And SOA Margin (%) 4.425.104.442.752.51
Return on Networth / Equity (%) 18.2321.2828.5114.9611.38
Return on Capital Employeed (%) 30.7234.7246.5823.6520.39
Return On Assets (%) 7.298.587.763.883.20
Long Term Debt / Equity (X) 0.060.080.060.110.13
Total Debt / Equity (X) 0.100.100.130.140.15
Asset Turnover Ratio (%) 1.781.811.851.541.28
Current Ratio (X) 1.471.541.221.221.22
Quick Ratio (X) 0.940.990.770.740.74
Inventory Turnover Ratio (X) 6.025.944.363.853.11
Dividend Payout Ratio (NP) (%) 24.9418.559.0014.160.00
Dividend Payout Ratio (CP) (%) 21.4816.267.7310.250.00
Earning Retention Ratio (%) 75.0681.4591.0085.840.00
Cash Earning Retention Ratio (%) 78.5283.7492.2789.750.00
Interest Coverage Ratio (X) 4.034.164.144.133.22
Interest Coverage Ratio (Post Tax) (X) 3.013.143.092.822.18
Enterprise Value (Cr.) 21953.6527825.499354.382475.331805.89
EV / Net Operating Revenue (X) 1.181.720.650.260.28
EV / EBITDA (X) 13.3317.307.404.274.13
MarketCap / Net Operating Revenue (X) 1.201.740.660.260.28
Retention Ratios (%) 75.0581.4490.9985.830.00
Price / BV (X) 4.947.244.281.451.29
Price / Net Operating Revenue (X) 1.201.740.660.260.28
EarningsYield 0.030.020.060.100.08

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

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 (insulated wire and cable made of steel, copper, aluminium). Company's Total Operating Revenue is Rs. 17552.26 Cr. and Equity Capital is Rs. 40.17 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Chemicals - Speciality - Others301, Panorama Complex, Vadodra Gujarat 390007Contact not found
Management
NamePosition Held
Mr. Kushal N DesaiChairman & M.D & CEO
Mr. C N DesaiManaging Director
Mrs. Nirupa K BhattInd. Non-Executive Director
Mr. Rajesh SehgalInd. Non-Executive Director
Mr. Kaushal J SampatInd. Non-Executive Director
Mr. Rishabh K DesaiNon Exe.Non Ind.Director

FAQ

What is the intrinsic value of Apar Industries Ltd and is it undervalued?

As of 09 May 2026, Apar Industries Ltd's intrinsic value is ₹4955.54, which is 60.17% lower than the current market price of ₹12,442.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (19.5 %), book value (₹1,208), dividend yield (0.41 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Apar Industries Ltd?

Apar Industries Ltd is trading at ₹12,442.00 as of 09 May 2026, with a FY2026-2027 high of ₹12,850 and low of ₹5,300. The stock is currently near its 52-week high. Market cap stands at ₹49,972 Cr..

How does Apar Industries Ltd's P/E ratio compare to its industry?

Apar Industries Ltd has a P/E ratio of 50.4, which is below the industry average of 79.73. This is broadly in line with or below the industry average.

Is Apar Industries Ltd financially healthy?

Key indicators for Apar Industries Ltd: ROCE of 32.7 % indicates efficient capital utilization; ROE of 19.5 % shows strong shareholder returns. Dividend yield is 0.41 %.

Is Apar Industries Ltd profitable and how is the profit trend?

Apar Industries Ltd reported a net profit of ₹821 Cr in Mar 2025 on revenue of ₹18,581 Cr. Compared to ₹257 Cr in Mar 2022, the net profit shows an improving trend.

Does Apar Industries Ltd pay dividends?

Apar Industries Ltd has a dividend yield of 0.41 % at the current price of ₹12,442.00. The company pays dividends, though the yield is modest.

Last Updated: May 4, 2026, 11:50 pm
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532259 | NSE: APARINDS
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
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