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Apar Industries Ltd

NSE: APARINDS BSE: 532259

9305

(-6.91%)

Mon, 16 Mar 2026, 07:24 pm

Apar Industries Analysis

dividend

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Pros

  • Dividends per share have increased over the past 10 years.
  • Dividends paid are well covered by earnings (4.3x coverage).
  • Dividends after 3 years are expected to be well covered by earnings (3.6x coverage).
  • Apar Industries's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.76%).
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Cons

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Apar Industries's dividend is below the markets top 25% of dividend payers in India (3.08%).

future

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Pros

  • Apar Industries's earnings growth is expected to exceed the low risk savings rate of 7.2%.
  • Apar Industries's earnings are expected to exceed the low risk growth rate next year.
  • Performance (ROE) is expected to be above the current IN Industrials industry average.
  • An improvement in Apar Industries's performance (ROE) is expected over the next 3 years.
  • Apar Industries's revenue growth is expected to exceed the India market average.
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Cons

  • Cash flow for Apar Industries is expected to decrease over the next 2 years.
  • Apar Industries's earnings are expected to grow by 15.4% yearly, however this is not considered high growth (20% yearly).
  • Apar Industries's earnings growth is positive but not above the India market average.
  • Apar Industries's net income is expected to increase but not above the 50% threshold in 2 years time.
  • Apar Industries is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
  • Apar Industries's revenue is expected to increase but not above the 50% threshold in 2 years time.
  • Apar Industries's revenue is expected to grow by 9.5% yearly, however this is not considered high growth (20% yearly).

health

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Pros

  • Apar Industries is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Apar Industries is profitable, therefore cash runway is not a concern.
  • Apar Industries is profitable, therefore cash runway is not a concern.
  • Debt is well covered by operating cash flow (330.7%, greater than 20% of total debt).
  • Debt is covered by short term assets, assets are 19.8x debt.
  • Apar Industries's cash and other short term assets cover its long term commitments.
  • The level of debt compared to net worth has been reduced over the past 5 years (82.8% vs 15.8% today).
  • Apar Industries's level of debt (15.8%) compared to net worth is satisfactory (less than 40%).
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Cons

  • Interest payments on debt are not well covered by earnings (EBIT is 2.5x annual interest expense, ideally 3x coverage).
  • High level of physical assets or inventory.

management

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Pros

  • The tenure for the Apar Industries board of directors is about average.
  • Kushal's compensation has been consistent with company performance over the past year, both up more than 20%.
  • The average tenure for the Apar Industries management team is over 5 years, this suggests they are a seasoned and experienced team.
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Cons

  • Kushal's remuneration is higher than average for companies of similar size in India.

past

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Pros

  • Apar Industries's 1-year earnings growth exceeds its 5-year average (17.5% vs 9.8%)
  • Apar Industries's year on year earnings growth rate has been positive over the past 5 years.
  • Apar Industries used its assets more efficiently than the IN Industrials industry average last year based on Return on Assets.
  • Apar Industries's earnings growth has exceeded the IN Industrials industry average in the past year (17.5% vs -3.9%).
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Cons

  • Apar Industries's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
  • Apar Industries has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).

value

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Pros

  • Apar Industries's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Apar Industries's share price is below the future cash flow value, and at a substantial discount (> 40%).
  • Apar Industries is good value based on assets compared to the IN Industrials industry average.
  • Apar Industries is good value based on expected growth next year.
  • Apar Industries is good value based on earnings compared to the IN Industrials industry average.
  • Apar Industries is good value based on earnings compared to the India market.
  • NSEI:APARINDS is up 5.1% outperforming the Industrials industry which returned 3.7% over the past month.
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Cons

  • APARINDS underperformed the Industrials industry which returned -19.9% over the past year.
  • APARINDS underperformed the Market in India which returned -14.5% over the past year.
  • NSEI:APARINDS is up 5.1% underperforming the market in India which returned 8% over the past month.

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