Kushal Desai

Our strategy is to continue to ride this period by making sure that we service customers there even though it means at a slightly lower margin.

We are still targeting hitting what our guidance is for the year and this 500 crores is going to help definitely achieve the top line.

Apar is clearly the leader in carrying current in all different forms... and carrying current business is going to only increase as the years come by.

Our strategy is to continue to ride this period by making sure that we service customers there, even though it means at a slightly lower margin.

APAR is clearly the leader in carrying current in all different between conductors, cables, transformer oil, etc. And carrying current business is going to only increase as the years come by.

We are ready with our CapEx, we are ready with our capacities, with approvals and everything. So the moment tenders come in and the spending takes place, we are right there to be able to pick up our shares.

The order inflow has not been canceled, but it's on hold in many instances.

We have been able to pass on this hit to the customers. So if you look at our P&L, there is no net impact on our profitability both on conductors and cables in quarter two.

We've also invested a lot of money not only in equipment but also in manufacturing practices, processes, etc., where the products are optimized for the U.S. market from our plants in India.

So there is a definite impact but the order inflow has already started coming in and as I mentioned with certain customers who want to avail of these incentives in the United States on the renewable energy there are certain timelines in which they need to deliver.

Our sense is that more and more of this reconductoring will have to come up. CEA has also been lobbying with CEA saying please allow new lines to be laid with the top end conductors which is HTLS etc.

We have started off FY 2026 with a notable first quarter. Our revenue for the quarter grew 27.3% over the same period last year to reach INR 5,104 crore.