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Nirmal Bang: Apar Industries’ Profitability Rebounds In Q2; Business Recovery To Be Gradual

Nirmal Bang: Apar Industries’ Profitability Rebounds In Q2; Business Recovery To Be Gradual

Apar Industries Ltd. (image: Company website)
Apar Industries Ltd. (image: Company website)

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Nirmal Bang Report

Apar Industries Ltd. reported 19% YoY decline in consolidated revenue at Rs 14.8 billion, 3% below our estimate.

Domestic sales fell 29% YoY to Rs 8.6 billion (58% of total sales) due to lower execution at domestic project sites, slow revival of railways and deferment of tenders due to lack of budgetary support from central and state governments.

Exports revenue remained stable at Rs 6.2 billion but its share in total revenue increased to 42% versus 34% YoY.

Click on the attachment to read the full report:

Nirmal Bang Apar Industries Q2FY21 Result Update - 7 November 2020.pdf

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