Apar Industries Limited (APARINDS.NS) stock analysis

In our weekly check, Apar Industries Limited is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 14 pass, warnings: 3, red flags: 8.

About Apar Industries Limited

Apar Industries Limited is an Industrials company (Electrical Equipment & Parts) based in India, listed on NSE as APARINDS.NS.

What our checks show for APARINDS.NS

Red flags

• Operating profit does not cover the interest bill (0x): interest is paid from cash or new debt.
• The gross margin fell by 4 points, to 18.4%: costs are rising faster than prices.
• The net margin is only 4.3%: little room if costs rise.
• Free cash flow is negative (-0.2% of revenue): the business spends more cash than it brings in.
• The dividend takes 1991% of profit: little cushion if profit falls.
• The stock has fallen as much as 83% from a peak. Would you have held through that?
• Recovering from its deepest fall took about 5.5 years.
• Pay in shares equals 0% of free cash flow: it dilutes shareholders.

Warning signs

• Operating cash flow is only 0.72x net profit: part of the reported profit does not arrive as cash.
• The price swings a lot: 46.3% annual volatility. Expect large ups and downs.
• Thinly traded (about 156 thousand shares a day): buying and selling can move the price.

Strengths

• Net debt is only 0.1x a year of EBITDA: the balance sheet has room.
• The net margin rose by 1.5 points over 5 years, to 4.3%.
• Analysts expect earnings per share to grow about 25% a year over the next years.
• Analysts expect revenue to grow about 19.9% a year over the next years.
• Revenue grew 16.9% a year over the last 3 years.
• Earnings per share grew 13.4% a year over the last 3 years.

Similar companies

HAVELLS.NS · ENRIN.NS · GVT&D.NS · 6506.T · POLYCAB.NS · KEI.NS

Questions

What grade does Apar Industries Limited (APARINDS.NS) have?

In our weekly check, Apar Industries Limited is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 14 pass, warnings: 3, red flags: 8. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of APARINDS.NS stock?

This week's biggest flags for Apar Industries Limited: Weak interest cover, Gross margin falling, Thin margins. In total 11 of 25 checks show a warning or a red flag.

What does Apar Industries Limited do?

Apar Industries Limited is an Industrials company (Electrical Equipment & Parts) based in India, listed on NSE as APARINDS.NS.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-31

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