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Apar Industries Margin Trend — Quarter by Quarter

Apar Industries's EBITDA margin moved from 8.7% in Q2 FY26 to 8.8% in Q4 FY26 across 3 quarters. Management commentary below explains the cost and pricing drivers mentioned on calls.

EBITDA Margin by Quarter

QuarterEBITDA Margin (%)YoY Change
Q4 FY268.8%-100 bps
Q3 FY268.8%+10 bps
Q2 FY268.7%—

What management said about ebitda margin

G

Q4 FY26 · Medium-term conductor EBITDA margin of ₹35,000-36,000/ton plus tailwinds

Management expects conductor EBITDA per ton to be in the range of ₹35,000-36,000 on a medium to long-term basis, excluding potential tailwinds from premium products and reconductoring.

G

Q3 FY26 · Cable EBITDA margin to remain around 10%

Despite margin pressure from US business, management expects cable EBITDA margin to stay near 10% for the full year, similar to 9-month level.

G

Q2 FY26 · Conductor EBITDA per ton guidance maintained at ₹30,000

Management reiterated medium-to-long-term guidance of ₹30,000 per metric ton EBITDA for conductors, despite recent outperformance.

G

Q2 FY26 · Cable EBITDA margin guidance of 10-12%

Cable division EBITDA margin expected to remain in the 10-12% range over medium to long term.