Rs 322 to Rs 3,472: This power stock turned into a multibagger in three years; trading at record high

Shares of multibagger Apar Industries Ltd have delivered nearly 1,000% returns to investors in the last three years. The stock of the power equipment major, which closed at Rs 322.7 on June 30, 2020, ended at Rs 3472.40 in the previous session (June 30, 2023), delivering 976% returns during the period. In comparison, Sensex has risen 85.36% in three years.

On Friday, Apar Industries stock zoomed 4.38% to Rs 3472.40 on BSE. Earlier, the stock opened higher at Rs 3399.35 against the previous close of Rs 3326.60 on BSE.

The share hit an all-time high of Rs 3498 in the last session. It has gained 274.63% in a year and risen 90.60% this year. Total 8530 shares of the firm changed hands amounting to a turnover of Rs 2.95 crore in the current session. Market cap of the firm climbed to Rs 13,288 crore. The stock hit a 52-week low of Rs 906.20 on July 1, 2022.

In terms of technicals, the relative strength index (RSI) of the stock stands at 73, signaling it's trading in the overbought zone. Apar Industries shares have a beta of 1, indicating average volatility in a year. Apar Industries shares stand higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The firm reported a 35.4% rise in sales to Rs 4,056.53 crore in the March 2023 quarter against Rs 3003.90 crore in the March 2022 quarter. Net profit zoomed 194% to Rs 242.73 crore in Q4 against Rs 82.61 crore in the March 2022 quarter. Earnings per share rose to Rs 63.43 in Q4 against Rs 21.49 in the March quarter of 2022.

The company recommended dividend for the financial year 2022-23 at Rs 40 per share aggregating to Rs 153.07 crore on 38,268,619 equity shares of Rs 10/- each fully paid.

About the Company

Apar Industries Limited is a manufacturer and supplier of conductors, a variety of cables, specialty oils, polymers and lubricants. The company’s segments include conductor, transformer & specialities oils and power/telecom cables. It provides diverse fields of electrical and metallurgical engineering offering value-added products and services in power transmission conductors, petroleum specialty oils, and power & telecom cables.

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