Buy Apar Industries target of Rs 696: Prabhudas Lilladher
Prabhudas Lilladher’s research report on Apar Industries
Apar Industries (APR) reported decent set of numbers led by strong recovery in transformer oil segment and lower interest cost. With economic activity witnessing a V-shape recovery, domestic revenues grew 12% YoY while export revenues de-grew 2.8% YoY. Lower interest expense led to boost in profitability. Conductors segment reported an EBITDA loss of Rs20mn owing to steep rise in RM, 2-3x jump in freight costs and delay in clearance from customers….
