Apar Industries: Conductor business sees volume growth of 8.4 per cent in 9MFY26
- January 29, 2026
Apar Industries witnessed a year-on-year increase of 8.4 per cent in its conductor business volume during the first nine months (9M: April to December) of FY26.
According to a company presentation, the conductor business recorded volume of 1,76,831 tonnes in 9MFY26, up 8.4 per cent from 1,63,116 tonnes in 9MFY25.
However, in the third quarter (Q3: October to December) of FY26, Apar’s conductor business volume fell by 5.9 per cent to reach 56,762 tonnes. The decline in Q3FY26 volume was mainly on account of increased competition from non-US geographies, the presentation said.
Here are some more operational highlights:
Conductor business
Revenue for Q3FY26 grew by 25.1 per cent to reach Rs.3,063 crore. This growth was driven by higher commodity prices and product-mix change. In 9MFY26, revenues were nearly 34 per cent higher, reaching Rs.8,948 crore
Premium product mix stood at 44.2 per cent in Q3FY26 as against 37.4 per cent in Q3FY25. Premium products cover HEC (high-efficiency conductor), copper conductor, optical ground wire (OPGW), and ACCC (aluminium conductor composite core) conductors
Though exports were down 10.8 per cent (in value terms) during Q3FY26, they were 15.1 per cent higher, year-on-year, in 9MFY26. Exports accounted for 17.8 per cent of the Q3FY26 revenues, dropping from 25 per cent in Q3FY25
Export revenue from US markets grew by 2.4 per cent in Q3FY26 and by a much sharper 85.9 per cent in 9MFY26
The new order inflow in 9MFY26 stood at Rs.8,052 crore. The outstanding order book, as of December 31, 2025, was Rs.7,396 crore with exports contributing 32 per cent.
Cable business
Revenue in Q3FY26, at Rs.1,362 crore, was up 7.6 per cent, year-on-year. In 9MFY26, revenues rose 22.1 per cent to reach Rs.4,316 crore from Rs.3,534 crore in 9MFY25.
US business was subdued in Q3FY26 but this was compensated by a strong performance by the domestic business. US revenue was down 65.4 per cent in Q3FY26 but domestic business revenue was up 34.1 per cent, year-on-year.
Overall export business revenue was down 44.3 per cent in Q3FY26 with exports accounting for 17.6 per cent of the cable business revenue (Q3FY25: 34 per cent).
Pending order book, as of December 31, 2025, was Rs.1,668 crore
Transformer Oil
Export business recorded volume growth of 10.6 per cent in Q3FY26 and 4.2 per cent in 9MFY26. Domestic business witnessed volume growth of 6.5 per cent in Q3FY26 and 13.4 per cent in 9MFY26, underscoring the strength of domestic and international demand despite export-side challenges on freight, and geopolitical tensions
Also read: Apar Industries: Conductor exports up 75 per cent in Q2FY26