APAR INDUSTRIES LTD
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BSE Code:
532259
NSE Code:
APARINDS
Business Profile
Business Profile
Established in 1958 by Dharmsinh D. Desai, Apar Industries (APARIND) belongs to Apar group. The company is engaged in the business of providing value-added products and services in power transmission conductors, petroleum specialties and synthetic rubbers.
The special oils refinery division established with technical collaboration from Sun Oil Company, USA is the largest producer of poweroil transformer oils in Asia and Far East. It also offers other specialty oils for the rubber, tire, steel, aluminum, petrochemical, automotive and other industries. The conductor division is the largest producer of powerline aluminum and alloy conductors in Asia having strategic partnerships with ABB and other global majors for power transmission projects. The polymer division manufactures Aparene and Powerene synthetic rubber and rubber latex with technology inputs from Good Year Tire & Rubber Co., USA.
APARIND has a 28,500 MTA capacity in Valia, Gujarat for nitrile polymers. The conductor (50,000 MT) manufacturing activities are concentrated in Silvassa and capacity to increase to 60,000 MT. It has three oil-refining facilities around Mumbai with a capacity of 200,000 kiloliters. All manufacturing units are ISO 9001 and ISO 14001 certified.
Apar Industries received a contract from Adani Power for manufacture and supply of ACSR conductors for approximately Rs 1,300 million. It has a 50:50 JV with ChemateK SpA, Italy for marketing oils. APARIND has bagged export orders for aluminum conductors for power transmission lines from turn-key operators based in North Africa and Kazakhstan for approximately Rs 1,115 million.
The registered office of Apar Industries is located at Vadodara, India.
Financials
Apar Industries registered a 14.15% growth in net profits to Rs 137.11 million for the quarter ended December 2007 from a profit of Rs 120.11 million for the quarter ended in December 2006.
Net Sales rose 30.89% to Rs 4,729.02 million for the quarter ended December 2007 from Rs 3,613.10 million for the quarter ended December 2006.
Total income rose 31.77% to Rs 4,769.85 million for the quarter ended December 2007 from Rs 3,619.93 million for the quarter ended December 2006.
The earnings per share (EPS) of the company stood at Rs 4.24 in the quarter ended December 2007.
Recent Developments
18-MAR-08
Apar Industries has entered into a long term oil agreement with the three wheeler giant, Piaggio. As per the agreement, Apar Industries will supply AGIP brand engine oils for Piaggio's entire range of vehicles manufactured in India.The product being offered brings in the latest technology in engine oils, which doubles the service life of the engine oils in Piaggio vehicles. The deal is expected to generate revenue amounting to Rs 750 million in the initial phase.
18-FEB-08
Apar Industries announced that the sale of the polymers division has been completed on Feb. 15, 2008 being the date of closure of the transaction and the ownership of the polymers division has been handed over to Eliokem India. The sale proceeds received are proposed to be utilized for expansion of the business of the company including that of Uniflex Cables, the company which has been proposed for acquisition by the company as per public announcement dated Feb. 13, 2008.
11-FEB-08
Apar Industries entered into an agreement to acquire 42% in the publicaly listed Uniflex Cables to become the single largest shareholder in the company. Apar Industries will make a public offer for acquiring another 20% stake in the company.
31-JAN-08
The compensation committee of directors of Apar Industries approved the issue and grant of upto 175,150 stock options to eligible employees under the Apar Industries - Employees Stock Option Scheme 2007.
06-DEC-07
Apar Industries signed a technology and license agreement with Italy`s energy giant, Eni.