Apar Industries Ltd. makes a corporate announcement

APAR Industries’ QIP was finally allotted as follows:

• Final allotment: 16,88,618 new equity shares, raising approximately Rs 2,500 Crores ^[1].
• Issue price: Rs 14,805 per share, versus the Rs 14,801.25 floor price—a premium of Rs 3.75 per share, or approximately 0.03% above the floor price ^[2].
• Equity dilution: The share count increased from 4,01,83,719 to 4,18,72,337 shares ^[1]. On a post-issue basis, the new shares represent 4.03% of the enlarged equity base (derived from 16,88,618 / 4,18,72,337). Existing shareholders’ aggregate ownership therefore falls to approximately 95.97%, implying 4.03% dilution.

Q1 FY27 was realization/mix-led in Conductors, while Cables delivered strong revenue growth without a disclosed physical-volume bridge. The margin outcome diverged: Conductors’ EBITDA margin contracted by 0.5 pp, whereas Cables’ margin expanded by 0.6 pp.

† Derived as `(Q1 FY27 revenue / Q1 FY27 volume) ÷ (Q1 FY26 revenue / Q1 FY26 volume) - 1`; this is a revenue-per-MT proxy and includes metal-price pass-through and product mix, not pure pricing.

• Conductors: The negative volume contribution was more than offset by higher realization and mix. Premium products increased to 50.30% of revenue from 43.70% a year earlier, while manufacturing-clearance delays primarily affected conventional domestic conductors. ^[6] That explains why EBITDA still rose 14.00% to Rs 285 Crores and EBITDA per MT improved, even though the reported segment margin fell: higher metal-linked revenue increased the denominator faster than segment EBITDA. ^[3]
• Cables: The 29.50% revenue increase was primarily visible through the domestic/export mix rather than a measurable volume uplift. Management linked the 0.6 pp margin expansion to a better domestic product mix, including supplies to defence and railways. ^[7]
• Consolidated effect: Despite the lower Conductors margin, the much stronger margin contribution from Cables and, particularly, the Oil division lifted consolidated EBITDA margin to 12.40% from 9.80% in Q1 FY26, a 2.60 pp expansion. ^[8]