Wire & Cable India

Apar Industries’ Cable Division Reports Revenue of Rs. 1270 Crores for FY2021

With 19% of the total revenue for FY21 contributing to the cable business, Apar Industries maintained a good growth trajectory— specifically with a 21.2% YoY revenue gain from OFC/telecom cables and exports.

June 3, 2021

Apar Industries
Apar Industries posts revenue of Rs. 1270 crores for cable division

Apar Industries has reported consolidated revenue of Rs. 6405 crores during the 12-months period ending on March 31, 2021. The Cable Division of the company contributed 19% of the total revenue at Rs. 1270 crores (down 20.7% YoY) for FY21.

Apar Industries’ cable division export contributed 20% to revenue in FY21, up from 17.2% in FY20. Notably, during this period, the OFC/telecom cables revenue rose to 21.2% YoY.

Apar Industries’ consolidated PAT rose to 18.8% YoY at Rs. 161 crores — while EBITDA stood at Rs. 422 crores for FY2021. With consolidated revenue of Rs. 6405 crores —Apar contributed 41% of export of total revenue for FY2021.

The power cable segment continues to be highly competitive for the industry. Also, the elasto/ebeam cable business was also affected due to reduced off-take in the solar, wind, railways and defence sector. However, with a strong PAT, Apar Industries has been able to deliver resilient performance despite multiple waves of COVID-19 hitting plant operations, logistics and both domestic and global demand.

Shifting its focus towards development — the company also installed a 2.5 MeV machine, which was commissioned by an in-house team. Apar Industries plans to focus on increased exports and new business (MVCC, automotive cable, harnesses, pressure tight cable, 66kV cables etc.) for FY22.

Also Read: NLC India-Coal India JV to Invest in 3000 MW Solar Power Projects.

Apar is one of the world’s largest manufacturers of specialized cables and is a top-ranked cable provider for domestic renewables with a 60% share in the wind sector. It is also the first Indian player to create guidance OFC for torpedoes & tether cables for surveillance systems. The Company has also set up India’s most advanced E-beam facility and is known for manufacturing CATV/broadband fibre optic cables etc.