The order inflow of Apar Industries’ conductor business was up 16 per cent year-on-year during the April-December period of FY24.
In a recent investor presentation filed on stock exchanges, Apar Industries said that new order inflow of the conductor business stood at Rs.6,354 crore in the first nine months of FY24 (9MFY24), registering a year-on-year growth of 16 per cent.
As of December 31, 2023, the total order book of the conductor business was Rs.6,081 crore with exports accounting for 48 per cent.
Exports also drove revenues of the conductor business in 9MFY24. At Rs.5,703 crore, revenues of the conductor business in 9MFY24 were 17 per cent higher, year-on-year. In volume terms, the conductor business recorded 150,334 tonnes in 9MFY24, up 36 per cent year-on-year.
The share of exports in total revenue of the conductor business in 9MFY24 was 46.7 per cent, higher than the comparable 43.4 per cent in 9MFY23.
The share of “premium products” in Apar’s conductor business in 9MFY24 was 42.3 per cent, in revenue terms. Premium products cover HEC (high-efficiency conductor), copper conductor, optical ground wire (OPGW), and ACCC (aluminium conductor composite core) conductors that are manufactured in partnership with US-based CTC Global.
Cable business
The cable business clocked revenues of Rs.2,773 crore in 9MFY24, up 20 per cent from the comparable level last fiscal. All the same, cable revenues stagnated year-on-year during Q3 (October to December) of FY24, owing to lower exports to US.
In FY23, Apar had witnessed very high exports to US. However, in FY24, due to “de-inventorisation” by US customers, exports to US were considerably lower. Nevertheless, Apar’s global cable sales (excluding US) were 43.1 per cent higher year-on-year during 9MFY24.
The order book position of the cable business was Rs.1,124 crore, as of December 31, 2023, the presentation said, adding that enquiry level from US and EU customers is now seen improving.
Also read: Apar Industries: Cables Business Excels On Export Front
Photo (source: Apar Industries) is for representation only.
