Power Cables Pvt. Ltd. was started by Dharmsinh Desai with a great purpose of manufacturing power transmission conductors under ₹1 lakh. Headquartered in Mumbai, India, this company is now serving its diverse range of products to more than 140 countries. Its current product range includes cables, telecom infrastructure, transformer oils, lubricants, electrical conductors, and automotive components. The management has listed it on BSE and NSE in 2004; and acquired Uniflex Cables in 2008 to capture the electrical and telecom cables market. This is Apar Industries growth story which was incorporated in 1959, during India’s post-independence electrification drive. It has evolved from a traditional industrial manufacturer into a global company offering products for supporting electricity transmission, connectivity, and industrial operations.

Beyond Cables: Understanding APAR’s Three Business Pillars

As we said it earlier, this company acquired Uniflex Cables and added a lot of products in their product range. Gradually, they became a global company offering products for supporting electricity transmission, connectivity and industrial operations. Currently its three core business pillars are Conductors, Cable Solutions and Speciality Oils. With these three areas, they are serving almost all the connected needs across the power and industrial value chains in 140 countries. Apar Industries Ltd serves aluminium and alloy conductors to cater grid expansion, railway electrification and renewable energy infrastructure. As per FY2025–26 report, this company has become the world’s largest manufacturer of aluminium and alloy conductor.

In the telecom segment, APAR has incorporated hybrid copper-and-fibre cable technology to simplify infrastructure deployment. This newbie technology carries power and data through a single cable. In the oil segment, APAR is engaged in supplying white oils, transformer oils, process oils and many other related products. You must be surprised to know that the company supplies around 400,000 kilolitres of oil in India and 120,000 kilolitres in the UAE.

The Electrification Story: Connecting APAR to India’s Infrastructure Growth

As the electricity demand is increasing across the subcontinent, renewable-energy expansion and infrastructure development are in need for equipment that can transmit and distribute power efficiently. Railway is another area where electrification has become a necessity and electrification materials are now in an ever-increasing rate. As per reports, APAR has supplied more than 64,300 metric tonnes of conductors developed for high-speed and bullet-train projects, along with some other types of copper conductors.

To cope with the infrastructure requirements in energy value chain, this company operates cable solutions, conductors, and speciality oils businesses. HTLS conductors help utilities in increasing the capacity of existing corridors. They are also instrumental in supplying optical ground wire (OPGW), as it combines electricity infrastructure with telecom connectivity. Hence, Apar Industries growth story is mainly depending on India’s rising electricity demand and movement of power equipment markets.

APAR’s Revenue and Profit Growth

APAR Industries, that had annual revenue of ₹18,581 crore in FY 2024–25, reached n whopping annual revenue of approximately ₹22,902 crore in FY 2025–26. Their consolidated profit after tax (PAT) increased to ₹977 crore in FY 2025–26 from ₹821 crore in FY 2024–25. APAR’s operating earnings also grew alongside revenue. Its earnings before interest, tax, depreciation and amortization (EBITDA) rose 23% to ₹2,067 crore.

The Conductors business becomes APAR’s largest business segment, generating approx ₹12,712 crore in FY26 revenue. Cable Solutions becomes second-largest business segment with approximately ₹6,220 crore. Speciality Oils contributed around ₹5,373 crore. The management invests huge amounts of ₹510 crore and ₹737 crore in capital expenditure during FY25 and FY26. Capital expenditure in Apar Industries growth story amplifies investment in manufacturing capacity and business development.

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