Company’s presentation for Q4 states that “Exports’ revenue was up by 85% YoY driven by 164% increase in cable division and 81% increase in conductor division. Export mix was at 52.7% versus 39% in Q4FY22” There is no country wise exports breakup. IMO, time has come for Indian companies to take head-on with Chinese companies.
Are the export contracts long term? Management stated that they don’t go for turnkey projects but did not mention the average duration of the export contract. Assuming that some company wins a contract on turnkey basis and places order for import of material from Apar, any idea which are the top customers. Did not see anybody mentioning about the business model in the above chain.
Disc: Evaluating, will wait for couple of quarters to see China’s impact on Apar Industries
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