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Corporate Presentation October 2026
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Safe Harbour This presentation may have certain statements that may be “forward looking” including those relating to general business plans and strategy of APAR Industries Ltd., its outlook and growth prospects. The actual results may differ materially from these forward-looking statements due to several risks and uncertainties which could include future changes or developments in APAR Industries Ltd. (APAR), the competitive environment, the company’s ability to implement its strategies and initiatives, respond to technological changes as well as sociopolitical, economic and regulatory conditions in India. All financial data in this presentation is obtained from the unaudited/audited financial statements and the various ratios are calculated based on these data. This presentation does not constitute a prospectus, offering circular or offering memorandum or an offer, invitation or a solicitation of any offer, to purchase or sell, any shares of APAR and should not be considered or construed in any manner whatsoever as a recommendation that any person should subscribe for or purchase any of APAR’s shares. None of the projection, expectations, estimates or prospects in this presentation should be construed as a forecast implying any indicative assurance or guarantee of future performance, nor that the assumptions on which such future projects, expectations, estimates or prospects have been prepared are complete or comprehensive . This presentation is for information purposes only. This document and its contents should not be forwarded or delivered or transmitted in any manner to any person other than its intended recipients and should not be reproduced in any manner whatsoever.
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3 Agenda Company Overview Growth Driver Our Businesses Financial Highlights 01. 02. 03. 04.
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COMPANY OVERVIEW01 Corporate Presentation October 2026
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5 What Drives Us To design and manufacture the critical building blocks that carry electricity across energy infrastructure, transportation and telecommunication networks — contributing to a more energy-efficient, environmentally sustainable and safer world. Fuelled byTo remain a global leader in energy infrastructure, transportation and telecommunication sectors, enabling the reliable flow of electricity through best-in-class solutions that create long-term value for our stakeholders.Shaped byOUR MISSION OUR VISION 150Position in the Fortune India 500 th 141Position in ET 500 th Our business is to carry electricity - from any generating source to any consumption point. We do this by increasing ampacity, reducing losses, increasing safety and in a more environmentally sustainable manner APAR’s Motto is Tomorrow’s Solutions Today We uniquely harness technology to bring viable, scalable, cost effective solutions that address clients' problems APAR - THE ARCHITECT BEHIND SUSTAINABLE SOLUTIONS
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6 Market Leadership$ 2.4 bn manufacturing company that holds leadership positions across critical energy infrastructure. Global Aluminium And Alloy Conductor Manufacturer Indian Exporter of Cables Indian company to provide Copper and Fibre Hybrid Cables Transformer Oils Manufacturer Indian Global Largest Cables Manufacturer In Lubricants Industry In India Four Global Growth Cycles Positioned for long-term infrastructure investment Renewable energy Grid infrastructure modernisation Electrification of mobility AI data centre buildout
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7 A Scaled Platform Built For Structural Growth FINANCIAL HIGHLIGHTS Revenue Rs crores Export Rs crores PAT Rs crore Capex Rs crores EBITDA post open period forex Rs crores 6,388 FY 2021 2,619 422 161 56 22,902 FY 2026 6,825 2,067 977 737 5Y CAGR: 29.1%5Y CAGR: 21.1%5Y CAGR: 37.4%5Y CAGR: 43.4%5Y CAGR: 67.5% ESG HIGHLIGHTS CareEdge ESG-1, 77 EcoVadis 83rd percentile (71/100 score) CDP Climate Change B CDP Supplier Engagement A APAR delivered its highest ever consolidated revenue in FY 2025-26.
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8 APAR - Your Electrification Partner From grid to growth — powering industries, mobility, and communities. The Energy Transition is Adding Urgency More electricity Global demand is projected to grow by more than 3.5% annually through 2030 More investment Annual grid investment needs to increase by approximately 50% by 2030 from today's US$400 billion Less time to respond New grid infrastructure can take 5-15 years, compared with just 1-3 years for data centre rollout What this Means for APAR?APAR’s products are essential building blocks of electricity infrastructure, enabling efficient transmission, reliability and sustainability as the world electrifies. This creates a powerful long-term growth opportunity across our key business segments. Global Infrastructure Leadership Core Businesses Diversified segments•Conductors•Cable solutions•Speciality oils •Lubricants•Speciality automotive•Telecom solutions•Polymers Countries served Global clients 84.3% of our product categories are in energy infrastructure
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9 The APAR Advantage Global energy: A multi-decadal opportunity. APAR has a distinctive edge. Accelerating automation, electrification and digital connectivity to drive smarter manufacturing, greater agility and operational excellence •Innovating high-performance conductors, specialised cables and speciality oils to deliver greater capacity, lower losses, enhanced safety and reliability •Scaling advanced conductor and cable applications across railways, metro systems, defence and other high-performance sectors •Front-loading FY27 capex of ₹ 1,500 crore to accelerate future growth and strengthen strategic capabilities •Fast-tracking cable capacity expansion while debottlenecking conductor and lubricant operations to capture emerging opportunities Embedding customer-centricity and ESG across our strategy to build enduring relationships and sustainable growth
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10 Powering The Renewable Revolution Powering Every Step: from generation to distribution, we are your energy partner in building a sustainable tomorrow.
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11 State-of-the-art Facilities Our global manufacturing footprint spans 10 world-class, state-of-the art facilities across India and one in Sharjah, UAE. GujaratCables, Telecom & PolymersCables & Telecom, Khatalwada Polymers, Umbergaon Dadra and Nagar Haveli and Daman and DiuConductors & OilsSilvassa: Conductors, Athola Unit-3 Conductors, Athola Unit-5 Conductors, Khanvel Conductors, Rakholi Co-located Oil Plant MaharashtraOils & LubricantsRabale, Navi Mumbai OdishaConductors Sharjah, UAEOils & Lubricants (PSF) Years of legacy State-of-the-art facilities globally E-beam facilities Silvassa Sharjah, UAE (PSF) Khatalwada Umbergaon Rabale
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12 Global Presence India Prominent presence with established Utilities, EPC’s & channel partners in USA Egypt UAE South Africa Australia South Korea Ethiopia Bangladesh Nepal Ecuador Brazil Colombia Tanzania Thailand Italy Saudi Arabia Spain Turkey China Vietnam Indonesia United Kingdom Singapore Peru Malaysia Israel Sweden France Ghana Sri Lanka Kenya Romania Uganda Cote d'Ivoire Cameroon Botswana Taiwan Algeria Bhutan Presence In 140+ Countries and Expanding Major markets Key markets Developing Markets Export Revenue 29.77% with Corporate presence India, UAE, Saudi Arabia, USA, Singapore and Brazil6 Countries
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13 68 years of Building What Powers ProgressFrom a conductor business in 1958 to a global energy-infrastructure solutions provider. 1958 Company incorporated Entered theconductor business1969 Speciality oils Diversified into transformer and speciality oils 1998–2002 Manufacturing scale-up Expanded oils and conductors with new plants at Rabale and Silvassa2007-08 New business segments Entered auto lubricants and cables 2010-13 Technology & capacity Set up R&D at Rabale; expanded e-beam and conductor capabilities2016-19 Global leadership Expanded in Sharjah and strengthened high-voltage transformer-oil and setup conductor plant in Jharsuguda, Odisha 2020-24 Brand & growth Launched a refreshed APAR identity, expanded campaigns and raised ₹1,000 Cr through QIP in 20242025-26 Expansion Announced all time high CAPEX plan of Rs1,500 cr to cater future growth TODAY A $2.4 Bn global manufacturer | Presence in 140+ countries | Solutions across conductors, cables, oils, telecom and more
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14 APAR USA: Trusted Partner For Growing Energy Needs In USA Entry into US market with export sale from APAR 2016 Overall Export to US crossed $ 1mn 2018 2022 Overall Export to US crossed $ 200 mn 2024 2025 Incorporation of subsidiary CEMA Wires and Cables Inc Incorporate of Name: APAR USA LLC High Growth Markets Data Centres & AI •$2.8T Investment by 2030 •4,000+ active data centres •500+ under construction •2,500 more planned Renewables, BESS & General Construction •88% of new US generating capacity in 2025 •~$2 T total annual residential and commercial construction expenditure •Solar, wind and BESS: Record expansion in BESS and utility-scale solar Electric Grid Infrastructure & Modernisation •$1.1T+ capital expenditure forecasts cited through rapid electrification and clean energy integration •10.7% CAGR T&D and substation investment & Electrical wholesaler channel High-density cables PV & MV cables | Building wire | Stock-and-sell products Grid and substation cables Snapshot (FY26) US Revenues ~$269 mn No. of Warehouse in US 3 (as on Sept’26) No. of states covered 40 No. of UL approvals 18 Main industries catered Building Wires, Renewables, Data Centers, Grids, overhead conductor APAR USA LLC is the U.S. arm of APAR Industries, a global leader in high-performance electrical and power solutions.
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GROWTH DRIVERS 02 Corporate Presentation October 2026
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16 Unlocking Opportunity at the Convergence of Four Global Capital Cycles We don’t just power the future. We engineer what comes next. Four Global Megatrends. One APAR For Growth. ESTABLISHED GROWTH DRIVERS EMERGING GROWTH DRIVER Renewable Revolution Grid Infrastructure Overhaul AI Data Centre Buildout Electrification of Mobility
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17 From Source To Socket:Powering the Renewable Energy Value ChainRenewable Generation 1 Step-Up Infrastructure 2 Transmission Grid 3 Substation 4 Step Down Infrastructure 5 Underground Distribution 6 Last mile socket/demand 7 •India targets 500+ GW non- fossil capacity by 2030 692 GW renewables added globally in 2025, led by solar and wind •Expand HVDC links and transmission corridors to connect renewables with demand centres •Grid expansion could nearly double annual copper and aluminium demand by 2040; critical-mineral demand may rise up to 6x by 2040 •Scale HVDC links and transmission corridors to connect renewable-rich regions with demand centres and reduce grid congestion •Deploy large-scale storage and local manufacturing of cables, transformers, and grid components to improve energy security •Solar PV cables for power generation and evacuation •Wind-energy cables & fire-resistant cables for wind turbines •LV, MV and HV XLPE power cable •Covered conductors & OPGW for transmission networks •CTC solutions for transformers •Premium conductors, including HTLS and AL59 •End-to-end solutions across renewable generation, transmission, and distribution •Executed 305+ turnkey reconductoring projects •Specialised solar and wind cables for reliable, faster project execution •Turnkey design, manufacturing, testing, and execution capabilities
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18 Grid Modernisation: Leading The Reconductoring Opportunity •$3 trillion T&D opportunity by 2032 •Demand for replacing ageing infrastructure and 2 way flow •Renewables integration drives variable-grid demand •Asia leads growth across energy value chain •13% Reconductoring CAGR, 2026–35 •7% Power T&D equipment CAGR, 2031 •Scale HTLS reconductoring solutions •Expand premium conductor technologies •Grow turnkey EPC capabilities •Strengthen OPGW and fibre offerings •Strengthen grid modernisation •Reconductoring as a solution: enables higher ampacity, lower losses •Reconductoring, OPGW and ADSS solutions •(HTLS) and advanced coated overhead conductors •XLPE cables up to 66 kV, Elastomeric cables up to 72 kV, Instrumentation, signalling and anti-theft cables •POWEROIL for 800 kV HVDC, 765 kV AC •Market leader in HTLS reconductoring solutions in India •OPGW and telecom integration •MVCC deployment, and substation augmentation for stronger grids Existing corridor 1 Reconductoring 2 HTLS upgrade 3 Efficient delivery 4
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19 Electric Mobility: Building Exposure Across The EV Ecosystem •39 million passenger EV sales projected globally by 2030 •Global EV electricity demand projected to grow 2.4× by 2030 •~ 150 million charging points are projected to be added globally by 2030 •Global EV battery deployment is projected to reach nearly 3 TWh annually by 2030 •Battery cables, high-voltage interconnects and harness solutions •Cost-effective, reliable cable connectivity solutions for mass-market EVs •EV charging cables, connectors and supporting grid conductors •High-voltage cables and customised harnesses for commercial vehicles and electric buses •Electric Bus Harness •2 & 3-wheeler EV Cables and Harness •Battery Cables •EV Charger Cables •Established OEM relationships •Application-specific engineering for passenger EVs and electric buses •OEM-specific design capabilities supporting domestic EV supply chains Battery pack 1 High-voltage harness 2 Powertrain & BMS 3 Charging hardware 4 Public / depot charging 4 Fleet electrification 4
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20 Emergence of AI Data Centres - A New Growth Driver · All varities of aluminium and copper cables including MV and LV · High-capacity conductors for grid expansion · Transformer oils for EHV,UHV and HVDC · CTC for high ampacity and large transformers · Speciality oils for critical infrastructure •950 TWh projected demand by 2030 •3× AI-focused electricity demand growth •450 TWh+ additional renewable generation •Investment, 2025 → 2031 (~14% a year); capacity ~2.2 GW → ~12 GW by 2030 •Data-centre market, 2024 → 2030 (~7% a year) •High-capacity grid connectivity expansion •High-density power distribution systems •Renewable integration exceeding 450 TWh •Advanced cooling and thermal efficiency •AI-ready infrastructure scaling through 2030 •Approved cables in US data-centre projects serving major technology companies BatteryPower intake / grid connectivity pack 1 Substation & transformation 2 Critical power distribution 3 AI data hall 4 High-density connectivity 5
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OUR BUSINESSES 03 Corporate Presentation October 2026
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•Largest manufacturer of aluminium and alloy conductors globally •India's largest player in Live Line HTLS reconductoring and OPGW installation •Among the top five manufacturers of CTC/ PICC globally •India’s largest manufacturer of copper conductors for railway electrification Strategic focus on higher-value products Installed capacity 2,77,327 MT in FY26 v/s 2,14,438 MT in FY24 Conductors: Largest Global Producer of Comprehensive SolutionsProduct leadership in conductors Strong leadership & competitive edge FY26 revenue of INR 12,712 crore •Strategically located five conductor facilities in Dadra & Nagar Haveli, offering seamless access to Mumbai ports •Two facilities in Odisha situated adjacent to aluminium smelters - unique location enables direct use of molten aluminium, eliminating ingot sourcing and remelting •Technology tie-up with CTC-Global, USA, for ACCC conductors •Strategic alliance with UK-based AssetCool to procure and apply its proprietary SE01 (Surface Enhanced) photonic coating Conventional Conductors High EfficiencyConductor High Temp. Low Sag (HTLS)Conductors Speciality AlloyRods & Wires OPGW & OPPC CTC/PICC& LKC RailwayConductors Copper Rods/Wires/ Busbars SpecialisedTurnkey Solutions
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HTLS Reconductoring (33 kV to 400 kV) •Market leader in HTLS reconductoring solutions in India •Executed 305+ turnkey reconductoring projects •Completed line length of 7,475 ckm Specialised Turnkey Solutions For Power Sector OPGW & Telecom Integration (33 kV to 765 kV) •Executed OPGW length of 24,760+ km •Completed 140+ telecom integrations Medium Voltage Covered Conductors for Distribution Networks (11 kV - 33 kV) •Completed line length of > 7,820 ckm TURNKEY EPC PROJECT EXCELLENCE 400kV Kalwa-Padgha Line, Mumbai, Maharashtra Executed by APAR for Maharashtra State Electricity Transmission Company Limited (MSETCL) 66kV Lines at Jambuva Circle, Vadodara, Gujarat Executed by APAR in collaboration with Gujarat Energy Transmission Corporation Limited (GETCO) 132 kV and 220 kV corridors at Uttar Pradesh Executed by APAR in collaboration with Uttar Pradesh Power Transmission Corporation Ltd. (UPPTCL) •Reconductoring of existing 66 kV lines at Jambuva Circle •Replaced conventional ACSR DOG conductors with high-capacity HTLS ACCC® •Enhanced transmission capacity and operational flexibility within the existing corridor •OPGW grid upgrades strengthened transmission reliability •Enabled rapid fault response during high load conditions •Enhancing grid reliability and enabling high-capacity data communication •Upgraded Circuits 1 & 2 using advanced ACCC HTLS Conductors. •Enhanced transmission capacity from 2000 MW to 4200 MW. •Critical transmission corridor powering Mumbai & MMR region. •Project timeline: 18 months (New line would have taken 3-4 years).
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24 Solution Matrix Typical Capacity Increase Permitting & Use of Existing RoW Design and Construction Speeds Cost Sustainability Development Speeds NA New Tx Line Upgrade (Voltage) Reconductoring Has Gained Steam; APAR Is A Market Leader In Reconductoring Projects Solution Experience 100-200% 3-5 Years $$$$$ Country has witnessed hundreds of thousands Kms of new line construction 2-3 Years $$$ TransGrid is Kerala State’s marquee project 50-150% 33kV-400kV 8-12 Years $$ The solution has gained steam; APAR is a leading player with significant market share Uprate (Reconductoring) RECONDUCTORING MARKET OPPORTUNITY* •US$400 billion annually: Current global grid investment, needing to rise by around 50% by 2030 •2,500 GW+ of renewable energy, large-load and storage projects are waiting in global grid connection queues •50–100% higher capacity: Potential capacity increase from reconductoring existing lines •80 million km: Global power grids need to be added or replaced by 2040 *International Energy Agency (IEA) Source: GridLab, internal assessment
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•Preferred transformer oil supplier for global OEMs & utilities •Market leader in transformer oils, with POWEROIL brand commanding dominant share in Indian power & distribution transformers •Introduced K Class Natural & Synthetic Ester fluids for greener projects Strategic focus on higher-value products Installed capacity 9,34,600 MT in FY26 Speciality Oils & Lubricants -3rd Largest in Transformer Oil GloballyStrong leadership & competitive edge FY26 revenue of INR 5,373 crore •Backed by automated blending and filling plants in India (Rabale - Navi Mumbai, Silvassa) and Hamriyah in the UAE •Eni Italy's authorised licensee in India & South East Asia for premium industrial and automotive lubricant solutions •Collaborated with ARKOS, a brand of PSPL, Singapore, to offer world-class, technically advanced, innovative, and affordable mobility solutions 400+ different types of Speciality Oils White Oil Industrial & Process Oils Petroleum Jelly POWEROILTO NE Premium POWEROILTO SE Premium Transformer Oil
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26 Global Approvals For Transformer OilsT-Oil protects transformers by insulating, cooling and preserving critical equipment ensuring reliable performance, longer asset life and uninterrupted power supply Global Utility Approvals •SEC Saudi Arabia •OETC Oman •MEW Kuwait •TNB Malaysia •ADWEA and SEWA in UAE •MOE Iraq •STEG Tunisia •Eskom South Africa •Power Grid India •PT PLN, Indonesia •Kenya Power and Lighting Company •Nigeria Power Holding Company OEMS Approvals •General Electric •Schneider Electric •Tyree Transformers •Siemens Energy •Hyundai Electric •Hyosung Heavy Industries •Hitachi Energy •Toshiba •TBEA •Wilson Transformers •CG Power Meets International Standards •IEC Standard •ASTM Standard •BS •DIN Standard
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•India’s No.1 exporter of cable amongst the Indigenous manufacturers •Among the top 6 cable manufacturers in India •One of the largest manufacturers of Speciality and Renewables cables in India •No. 1 Indian company to provide Copper and Fibre Hybrid Cables Strategic focus on higher-value products Installed capacity 9,50,656 KM in FY26 v/s 6,81,780 KM in FY24 Cable Solutions –Largest Domestic Player In Renewables Cable portfolio caters to the most demanding environments Strong leadership & competitive edge FY26 revenue of INR 6,220 crore •Integrated manufacturing facilities at Khatalwada and Umbergaon, Gujarat •Leadership in electron-beam (E-beam) technology, supported by India’s largest installed E-beam irradiation capacity •Holds the highest number of UL Certificates of compliance from India for cable sales in the United States Power Cables Elastomeric Cables E-beam Irradiated Cables Cables for the USA Market Cables Harness Light Duty Cables Instrumentation Cables House Wires Renewable (Solar & Wind) PV Wires
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•First in India to bring E-beam cable technology to households, through APAR Anushakti •APAR Anushakti is India's only house wire with E-beam cross-linked PVC insulation •India’s Most Extensive Wires & Cables Range enters the LDC segment to meet the Nation’s needs •Four flagship wire brands - APAR Anushakti, APAR Fire Protekt, APAR Shakti and APAR Green Wire Strategic focus on higher-value products Building a Sustainable Moat in Light Duty Cables (LDC)Strong leadership & competitive edge Sales of Rs 384 crores in FY26 •Strong differentiation through E-beam technology, safety, durability and brand trust •Desh Ka Taar Campaign: Educates audiences about APAR's advanced cable technology, trusted in railways, defence and national infrastructure, into every Indian home through APAR Anushakti Light Duty Cables 25 States & Union Territories with LDC presence 33% Domestic cable revenue growth YoY in FY26, Showcasing growing popularity
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Channel Expansion in Light Duty Cable Business 19 120 339 419 642 01002003004005006007002022 2023 2024 2025 2026DISTRIBUTOR PRESENCE 276 2,395 5,833 10,426 12,388 02,0004,0006,0008,00010,00012,00014,0002022 2023 2024 2025 2026RETAIL COUNT PRESENCE 2 13 18 18 25 05101520252022 2023 2024 2025 2026ACTIVE STATE PRESENCE Bringing engineering excellence to homes — powering safer, smarter and more sustainable living.
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•India’s first to introduce Copper–Fibre Hybrid Cables, enabling seamless convergence of power and telecom infrastructure •One of the few Indian companies offering an end-to-end connectivity portfolio spanning OFC, Hybrid, Data and Speciality Cables, Pre-connectorised Solutions, and integrated Fibre & Power DC solutions •Expanding into high-growth adjacencies through OPGW Dark Fibre Monetisation, Kavach EPC, Short distance submarine OFC and Connectorised Solutions Strategic focus on higher-value products & solutions APAR Telecom Solutions –Specialised range of OFC with unique hybrid cablesStrong leadership & competitive edge •Beyond OFC manufacturing, APAR has strengthened its telecom capabilities with specialised connectorisation solutions serving critical applications across telecom, defence, energy, transportation and enterprise networks •Advanced connectorisation capabilities delivering butt-joint and expanded-beam connectivity, pigtail and patch-cord assemblies, hybrid power–telecom solutions, and hardened tactical connectivity for demanding applications Fibre Optic Cables Giga-Volt Hybrid Cables LAN Cables Pre-connectorisedSolutions Speciality Solutions Network Services
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General •Following ISO certifications in place: (a) ISO 9001:2015, Quality Management Systems (b) ISO 14001:2015, Environmental Management System (c) ISO 45001:2018, Occupational Health & Safety (OH&S) Management Systems (d) ISO/ IEC 27001:2022, Information Security Management System •ISO 20400:2017, Sustainable Procurement (Guidance Standard) is being implemented 31 ESG Highlights at APAR •Consistently increased the share of Renewable Energy in overall electricity mix over past four years to 10.9% currently •Established long-term GHG Emission Reduction Targets for Scope 1 & 2 and Scope 3 (Category 1) •Water Stewardship through Zero Liquid Discharge (ZLD) practices and water conservation initiatives •Circular Economy through 100% recycling of plastic packaging waste through authorized recyclers under EPR •Re-certified as Great Place To Work for the third year in row •All APAR facilities are audited and certified with ‘Platinum’ rating for Human Rights Excellence under the standard BEC 1500:2024 •Implemented SA-8000 based practices at the plant level •Supplier Engagement through sustainability and ESG engagement programs •Continuous improvement in Gender Diversity through focused inclusion initiatives •Climate Risk Identification and publishing TCFD (Task Force on Climate-related Financial Disclosures) report •Board-level Corporate Social Responsibility and Sustainability (CSR&S) Committee in place Diverse and Independent Board •Introduction of ESG performance-linked incentive for our leaders and other relevant employees •Grievance Redressal system in place •Transparent disclosure & reporting practices in place.
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32 Powering Impact •Dharmsinh Desai Methodist Memorial Hospital (DDMM) •Dr. N.D. Desai Faculty of Medical Science and Research •Muni Seva Ashram •Bhaktivedanta Hospital HEALTHCARE •Dharmsinh Desai University (DDU) •Vishwanidam Trust •Vajreshwari Skill Centre •Create Foundation •Adimahesh Seva Foundation EDUCATION •Govardhan Skill Centre •Gram Panchayat Khatalwada •Gram Panchayat Lapanga •Gram Panchayat Raghunathpalli •Integrated Water Harvesting RURAL DEVELOPMENT •Adurta Children Home •Human Capital For Third Sector •Rotary Club •Himalayan Blooms •Sister Nivedita Foundation •RAWA Academy •Vajreshwari Skill Centre GENDER EQUALITY Our CSR philosophy is rooted in creating sustainable and inclusive impact that extends beyond business boundaries. Highlighting some of our flagship institutes. > 50,000 patients treated through healthcare > 60,000 lives empowered through education > 1,00,000+ lives touched in FY 2025-26 through various initiatives > 100 projects executed in last two years 23.72cr budget allocated for 2026-27
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Key Awards and Accolades In FY 2025-26 Social Impact Awards by Indian Chambers of Commerce Best Supplier Award by Indo-Tech Transformers Best CEO award by Fortune India India’s Best CEO Award in Capital Goods by Fortune India ET Now Best Organisation to Work
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Financial Highlights 04 Corporate Presentation October 2026
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Q2FY27 Market performance and shareholding structure 55.42%12.55%23.82%0.71%7.50%PromoterFII/FPIDIICorporate BodiesOthers As on September 30th , 2026 Outstanding shares – 4,18,72,337 Chart has been rebased to 100 80130180230 AparCapital GoodsNifty 508% -9% 112% APAR has been consistently outperforming market Shareholding (%) Major Non-Promoter Shareholders 4.53 Axis Mutual Fund 2.66 HDFC Mutual Fund 2.44 Nippon India Mutual Fund 2.36 ICICI Prudential Mutual Fund
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36 Strong Financial Performance Sustained over the Years Conductor Revenue Export MixEBITDA* amounts in INR crore* EBITDA post open period forex excluding interest income, corporate unallocable expenditure speciality Oils & Lubricants RevenueCable Revenue Consolidated Revenue
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Key Financial Ratios amounts in INR crore ROE (%) Debt/ Equity Ratio (x) Net Fixed Asset Turnover Ratio (x) ROE (%)
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38 FY26 Particulars 29.9% Exports 18.8% Industries/Corporate 3.5% Specific industry groups 11.4% OEM's 14.4% EPC - Transmission companies 7.4% Utilities - Transmission companies 4.4% Channel Sales 6.9% Renewables 2.1% Utilities - Electricity Distribution Boards (Govt. + Pvt.) 1.2% EPC - Diversified customer base across other verticals 100.0% Total Customer Mix Fy26 Industries/Corporates includes Cosmetics, Pharma, Rubber, Plastics, Lubricants etc. Specific industry groups includes Rail, Defence, Shipping, Mining, Telecom etc. *based on FY26 Consolidated Sales amounts in INR crore
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39 % of Total Particulars 50.4% Secured under various means 25.4% Government Transmission and sector specific companies 24.2% Others (of which 60%+ are with entities where APAR is having business relationship with over 3 years) 100.0% Total Quality of Receivables FY26 *based on FY26 Consolidated Sales amounts in INR crore
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40 amounts in INR crore % Change12M FY2512M FY26Particulars 23.3% 18,492 22,810 Sales 3.6% 89 92 Other operating income 23.3% 18,581 22,902 Revenue from operations (19.7%) 81 65 Other income 23.1% 18,662 22,967 Total income Expenses 22.7% 14,739 18,091 Cost of raw materials 26.7% 338 428 Employees Cost 6.9% 409 437 Finance Cost 21.9% 132 161 Depreciation and Amortisation expense 29.4% 1,938 2,507 Other Expenditure 23.2% 17,556 21,624 Total Expenses 21.4% 1,106 1,342 Profit before tax & share in net profit / (loss) of associates and exceptional loss 0 33 Exceptional Loss 18.5% 1,106 1,310 Profit before tax & share in net profit / (loss) (171.2%) 0 0 Share in net profit/(loss) of associate 18.5% 1,106 1,310 Profit after tax 17.1% 284 333 Tax Expense 18.9% 821 977 Profit after tax 12M FY26 : Consolidated Profit & Loss Statement
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41 amounts in INR crore 12M FY26 : Consolidated Balance Sheet 12M FY2512M FY26Particulars ASSETS Non-current assets 1,432.02 1,608.59 Property, plant and equipments 106.46 104.22 Right to use assets 127.79 539.42 Capital work-in-progress 1.92 4.48 Other intangible assets 2.62 0.12 Intangible assets under development Financial Assets 11.05 11.17 Investments in subsidiaries & associates 115.08 3.25 Trade receivables 1.58 2.99 Loans 0.14 20.33 Derivative financial assets 12.09 13.00 Other financial assets 26.01 66.31 Non-current tax assets (net) 114.26 140.65 Other non-current assets 1,951.03 2,514.53 Total non current assets Current Assets 3,310.50 4,152.79 Inventories Financial assets 208.42 44.31 Investments 4,078.17 5,334.09 Trade receivables 687.19 668.72 Cash and cash equivalents 73.84 63.16 Bank balances other than above 1.20 1.17 Loans 17.75 174.52 Derivative financial assets 82.89 91.88 Other financial assets 852.57 666.12 Other current assets 9,312.53 11,196.76 Total current assets 11,263.55 13,711.29 TOTAL ASSETS 12M FY2512M FY26Particulars EQUITY AND LIABILITIES Equity 40.17 40.17 Equity share capital 4,463.37 5,352.56 Other equity 4,503.54 5,392.73 Total equity Non-current liabilities Financial liabilities 298.33 432.78 Borrowings 100.41 104.10 Lease liabilities 3.75 - Derivatives financial liabilities 3.04 3.10 Other financial liabilities 17.53 21.44 Provisions 3.02 26.11 Deferred tax liabilities (net) 426.08 587.53 Total non-current liabilities Current liabilities Financial liabilities 171.81 407.73 Borrowings 14.15 10.90 Lease liabilities Trade payables 60.33 66.68 a) Total outstanding dues of micro and small enterprises 5,488.51 6,789.21 b) Total outstanding dues of other than micro and small enterprises 26.05 58.71 Derivatives financial liabilities 93.28 110.75 Other financial liabilities 441.36 219.61 Other current liabilities 7.36 52.55 Provisions 31.08 14.89 Current tax liabilities (net) 6,333.93 7,731.03 Total current liabilities 6,760.01 8,318.56 Total liabilities 11,263.55 13,711.29 TOTAL EQUITY AND LIABILITIES
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42 amounts in INR crore 12M FY26 : Consolidated Cash flows 12M FY2512M FY26Particulars Cash flow from operating activities 1,105.76 1,309.92 Profit before tax & share in net profit / (loss) of associates Adjustments for 132.15 161.14 - Depreciation / amortisation (0.25) 8.64 - (Gain)/loss on sale of property, plant and equipment 263.75 285.38 - Interest costs (5.45) (9.20) - Interest incomes 28.07 18.22 - Provision for Doubtful Debts / advances (net) 14.52 24.22 - Unrealised exchange loss/(gain) 2.40 27.77 -Share based payment expense (5.31) (6.48) - Profit on sale of investments Movement in working capital (509.28) (1,041.19) (Increase) / decrease in trade and other receivables (440.51) (826.10) (Increase) / decrease in inventories 974.36 1,387.35 Increase/ (decrease) in trade and other payables (268.88) (372.00) Tax paid 1,291.33 967.67 Net cash generated from / (used in) operating activities Cash flow from investing activities (509.69) (736.66) Acquisition of property, plant and equipment 2.84 3.64 Proceeds from sale of property, plant and equipment (3.79) Sale / (purchase) of investment in Associate and Subsidiaries (199.73) 170.60 Sale / (purchase) of investments - net 5.58 4.34 Interest received (704.79) (558.08) Net cash generated from / (used in) investing activities 12M FY2512M FY26Particulars Cash flow from financing activities 4.37) 0.00 Proceeds/(repayments) from short-term borrowings - (net) 83.66 190.00 Proceeds from long-term borrowings (67.54) (130.41) Repayments of long-term borrowings (20.00) (18.17) Repayment of Lease Liabilities (270.05) (270.61) Interest paid (204.61) (204.72) Dividend Payment (482.91) (433.92) Net cash (used in) / generated from financing activities 103.63 (24.33) Net increase / (decrease) in cash and cash equivalents (0.44) 5.85 Effect of exchanges rate changes on cash and cash equivalents 584.00 687.19 Cash and cash equivalents at the beginning of the year 687.19 668.72 Cash and cash equivalents at the end of the year
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43 amounts in INR crore 5 years Highlights FY22 FY23 FY24 FY25 FY26 Profit and Loss 9,317 14,352 16,153 18,581 22,902 Revenue from operations 587 1,291 1,632 1,681 2,067 EBITDA post open period forex -98 -104 -116 -132 -161 Depreciation -121 -267 -338 -333 -377 Finance cost -26 -65 -71 -110 -187 Unallocable corporate expenditures 342 855 1,106 1,106 1,342 PBT before exceptional Items and share of profit and loss of associates and joint venture 0 0 0 0 -33 Exceptional Items 342 855 1,106 1,106 1,310 PBT before share of profit and loss of associates and joint venture 0 0 -1 0 0 Share of profit or loss of associates 342 855 1,106 1,106 1,310 PBT -85 -217 -281 -284 -333 Tax 257 638 825 821 977 PAT FY22 FY23 FY24 FY25 FY26 Balance sheet 920 1,050 1,315 1,671 2,257 Property, plant, equipment & Intangibles 1,087 1,491 2,967 3,303 3,976 Net Working Capital 2,007 2,541 4,282 4,974 6,233 Capital Employed Sourced by: 1,715 2,236 3,876 4,504 5,393 Owned Funds 292 304 406 470 841 Borrowings 2,007 2,541 4,282 4,974 6,233 Total
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