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APARINDS - Fundamental Analysis: Financial Health & Valuation

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Rating: 4.2

Last Updated Time : 19 Mar 26, 07:09 pm

Fundamental Rating: 4.2

Stock Code APARINDS Market Cap 38,640 Cr. Current Price 9,608 ₹ High / Low 11,648 ₹
Stock P/E 39.4 Book Value 1,153 ₹ Dividend Yield 0.53 % ROCE 33.3 %
ROE 19.8 % Face Value 10.0 ₹ DMA 50 9,392 ₹ DMA 200 8,694 ₹
Chg in FII Hold 0.11 % Chg in DII Hold 0.56 % PAT Qtr 226 Cr. PAT Prev Qtr 254 Cr.
RSI 49.2 MACD 3.16 Volume 1,23,626 Avg Vol 1Wk 1,36,247
Low price 4,270 ₹ High price 11,648 ₹ PEG Ratio 0.77 Debt to equity 0.14
52w Index 72.4 % Qtr Profit Var 28.2 % EPS 240 ₹ Industry PE 23.3

📊 Financials

  • Revenue & Profitability: PAT declined from ₹254 Cr. to ₹226 Cr., showing short-term weakness, but EPS at ₹240 remains strong.
  • Margins & Returns: ROCE at 33.3% and ROE at 19.8% are excellent, reflecting strong efficiency and profitability.
  • Debt & Liquidity: Debt-to-equity ratio of 0.14 indicates low leverage, ensuring financial resilience.
  • Cash Flow: Dividend yield of 0.53% provides modest shareholder returns.

💹 Valuation

  • P/E Ratio: 39.4 vs Industry PE of 23.3 — trading at a premium valuation.
  • P/B Ratio: Current price ₹9,608 vs Book Value ₹1,153 — ~8.3x book value, expensive relative to assets.
  • PEG Ratio: 0.77 — indicates fair valuation relative to growth prospects.
  • Intrinsic Value: Current price is above fair value, offering limited margin of safety.

🏢 Business Model & Competitive Advantage

  • Operates in power conductors, cables, and specialty oils with strong global presence.
  • High ROCE reflects operational excellence and competitive strength.
  • Low debt enhances resilience and flexibility in expansion.

📈 Entry Zone & Long-Term Guidance

  • Entry Zone: Attractive accumulation range between ₹9,200 – ₹9,500, near DMA 50 support.
  • Long-Term Holding: Strong fundamentals and industry tailwinds make it a good candidate for long-term holding. Accumulate on dips for sustained growth.

✅ Positive

  • Excellent ROCE (33.3%) and ROE (19.8%) highlight superior efficiency.
  • Debt-to-equity ratio of 0.14 ensures financial stability.
  • FII holdings increased by 0.11% and DII holdings by 0.56%, showing institutional confidence.

⚠️ Limitation

  • Valuation multiples (P/E, P/B) suggest overvaluation.
  • Dividend yield of 0.53% is modest.
  • Quarterly PAT declined (-11%), showing short-term weakness.

📉 Company Negative News

  • Sequential PAT decline from ₹254 Cr. to ₹226 Cr.
  • Premium valuation compared to industry average PE.

📈 Company Positive News

  • Strong EPS of ₹240 reflects robust earnings capacity.
  • Institutional holdings increased, showing confidence from both FII and DII investors.
  • MACD positive (3.16) indicates bullish technical momentum.

🏭 Industry

  • Electrical equipment and specialty oils sector benefits from infrastructure and energy demand.
  • Industry PE at 23.3 is lower than company’s valuation, highlighting premium pricing for APARINDS.

🔎 Conclusion

APARINDS demonstrates strong fundamentals with excellent efficiency, low debt, and robust earnings. However, valuations are stretched and short-term profit decline raises caution. Best strategy: accumulate near ₹9,200–₹9,500 and hold for long-term gains, leveraging industry growth and the company’s competitive strength.

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