The cables business of Apar Industries did well on the exports front, accounting for more than half of the division’s revenue during Q1 of FY24.
Cables
In an investor presentation filed on stock exchanges, Apar Industries said that exports contributed to 52.4 per cent of the total revenues of the cables business during Q1 of FY24. This was significantly higher than the comparable share of 42.7 per cent in Q1 of FY23.
Overall revenues of the cables business was up 52 per cent year-on-year in Q1 of FY24, thanks to increase in sales of elastomeric cables and exports.
Revenue from elastomeric cables, boosted by renewable energy installations and railways, was up 44.6 per cent year-on-year in Q1 of FY24.
Apar Industries said that while domestic demand remains robust, there could be a short-term slowdown in the company’s exports of cables as “a process of deinventorisation of excess inventory will affect demand for a few months.”
The order book of the cables business stood at Rs.930 crore as of June 30, 2023.
Also read: Apar Industries: Cables & Conductors Business Gets Exports Boost
Conductors
The conductors business also did well in Q1 of FY24 in terms of exports. The contribution of exports stood at 57.1 per cent to the business revenue in Q1 of FY24, as against41.8 per cent in Q1 of FY23.
The contribution of premium products such as high efficiency conductors (HEC), OPGW and copper was higher in Q1 of FY24, vis-à-vis previous year.
While the new order inflow of the conductors business in Q1 of FY24 was Rs.1,951 crore, the outstanding order book as of June 30, 2023, stood at Rs.5,356 crore.
Featured photograph shows a manufacturing facility of Apar Industries, at Silvassa.
