Apar Industries Share Price: 39.9% CAGR in 3 Years as the Conductor Maker Outpaces Polycab and RR Kabel
- November 10, 2026
- Posted by: Kunal Singla
- Category: Best Stocks
Apar Industries Share Price: 39.9% CAGR in 3 Years as the Conductor Maker Outpaces Polycab and RR Kabel
Apar Industries previous close Rs 14,205. 3-year CAGR 39.9%. Up 2.7x since 9 Nov 2023. ROE 16.16%. Market cap Rs 59,484 crore.
Quick Answer
The Apar Industries share price closed at Rs 14,205 on 9 November 2026, a compounded annual return of 39.9% over three years. That compares with Polycab India at 15.1%, Finolex Cables at 9.4% and RR Kabel at 6.8%. The company has a market cap of Rs 59,484 crore and a P/E of 43.19 against an industry P/E of 42.52.
The Apar Industries share price has been one of the standout stories in Indian wires and cables. Apar Industries, the Mumbai-based maker of conductors, power cables and specialty oils, has nearly tripled investor money over three years and compounded faster than every cable peer in this comparison.
We compare that record with Polycab India, Finolex Cables and RR Kabel. The article calculates three-year CAGR for all four and sets the results beside market cap, valuation, return on equity and debt, using prices adjusted for corporate actions.
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How Much Has the Apar Industries Share Price Returned in 3 Years?
The Apar Industries stock closed at Rs 5,185.40 on 9 November 2023 and at Rs 14,205.00 on 9 November 2026. Rs 1 lakh invested three years ago would have grown to about Rs 2.74 lakh, which is a CAGR of 39.9%. This is a price return and leaves out dividends.
CAGR condenses a bumpy three-year ride into one yearly number, which is why it is the fairest way to compare companies of different sizes. A stock such as Apar Industries can look spectacular on a chart and still have earned a modest yearly return, so the compounded figure keeps the comparison honest.
The Apar Industries share price has also followed the investment in power transmission and distribution, where grid upgrades and renewable energy projects have raised demand for conductors and cables.
Apar Industries vs Polycab India, Finolex Cables and RR Kabel: 3-Year CAGR Compared
The table ranks the companies by three-year CAGR. Prices on 9 November 2023 are adjusted for splits and bonuses, and the latest figures are the previous close on 9 November 2026.
| Company | Close on 9 Nov 2023 | Previous close (9 Nov 2026) | Price multiple | 3-year CAGR |
|---|---|---|---|---|
| Apar Industries | Rs 5,185.40 | Rs 14,205.00 | 2.7x | 39.9% |
| Polycab India | Rs 5,133.30 | Rs 7,832.50 | 1.5x | 15.1% |
| Finolex Cables | Rs 940.10 | Rs 1,232.40 | 1.3x | 9.4% |
| RR Kabel | Rs 1,616.60 | Rs 1,969.40 | 1.2x | 6.8% |
The Apar Industries stock leads the group at 39.9%, followed by Polycab India at 15.1%, Finolex Cables at 9.4% and RR Kabel at 6.8%. Apar Industries leads the group by a wide margin, followed by Polycab, Finolex Cables and RR Kabel. Polycab is the largest of the four by market cap, so its return came on a bigger base.
Look at the Apar Industries share price alongside the peers as a snapshot of the last three years. It describes what happened, and valuation and earnings will decide what happens next.
Valuation and Quality Compared
| Company | Market cap | P/E | Industry P/E | ROE | Debt to equity |
|---|---|---|---|---|---|
| Polycab India | Rs 1,17,853 crore | 36.80 | 37.13 | 24.10% | 0.02 |
| Apar Industries | Rs 59,484 crore | 43.19 | 42.52 | 16.16% | 0.12 |
| RR Kabel | Rs 22,277 crore | 33.15 | 37.13 | 22.12% | 0.19 |
| Finolex Cables | Rs 18,836 crore | 20.69 | 37.13 | 11.73% | 0.00 |
By market cap, Polycab India is the largest of the group at Rs 1,17,853 crore, while the Apar Industries stock stands at Rs 59,484 crore, about 50% of that size. On earnings, Apar Industries shares trade at a P/E of 43.19 against an industry P/E of 42.52, a premium of about 2%, which signals that the market expects faster earnings growth. Peer multiples are Polycab India at 36.80, Finolex Cables at 20.69 and RR Kabel at 33.15.
Return on equity is 16.16% for the Apar Industries stock, which ranks third among the four, and debt to equity stands at 0.12. Trailing EPS is Rs 328.87. Cable makers are valued on volume growth and margins, so the P/E should be read together with return on equity and working capital needs.
What Is Driving the Apar Industries Stock?
Apar Industries makes aluminium and alloy conductors for power transmission, along with power and specialty cables and specialty oils. A large share of its sales goes to export markets.
Transmission and distribution spending by utilities supports demand for conductors, while the cable and oil businesses diversify the revenue mix. A broad mix can reduce dependence on one product line.
Followers of the Apar Industries share price usually track the order book for conductors, export demand, raw material costs and margins in the cable business.
How the Established Players Stack Up
Polycab India is the largest wires and cables maker in India by market cap and also sells fans, lighting and switchgear. It compounded at 15.1% a year, on a market cap of Rs 1,17,853 crore and an ROE of 24.10%.
Finolex Cables is a Pune-based maker of electrical and communication cables with a strong dealer network. It compounded at 9.4% a year, on a market cap of Rs 18,836 crore and an ROE of 11.73%.
RR Kabel is a Gujarat-based maker of wires, cables and fast moving electrical goods. It compounded at 6.8% a year, on a market cap of Rs 22,277 crore and an ROE of 22.12%.
What Should Investors Track Next?
Three things are worth watching on the Apar Industries share price. First, the order book for conductors and transmission products. Second, export demand and currency movement. Third, raw material costs, which affect margins in cables.
At a P/E of 43, expectations are meaningful. Cable demand depends on construction and power spending, so size any position with that in mind.
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How to Compare Cables Stocks Yourself
You can repeat this exercise for any pair of stocks, including the Apar Industries stock against its peers. Note the adjusted closing price on the base date, take the latest close, divide one by the other, raise the result to the power of one third and subtract one. Then place the CAGR next to market cap, P/E against the industry P/E, ROE and debt to equity. Benchmark the result against the Nifty 50 as well, so you know whether the stock beat the broader market.
A stock that scores well on growth but weakly on quality, or the reverse, deserves closer study before it enters a portfolio. When tracking the Apar Industries share price, the same four checks give a more complete picture than price alone.
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A Conductor Specialist Compounding Ahead of Its Peers
The Apar Industries share price compounded at 39.9% a year over three years, ahead of Polycab at 15.1%, Finolex at 9.4% and RR Kabel at 6.8%. Its ROE of 16.16% and a debt to equity of 0.12 sit in a healthy range.
Polycab brings scale and a higher ROE, Finolex trades at the lowest multiple, and RR Kabel brings a strong ROE with a smaller base. The choice depends on whether you prefer a faster record or scale.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What is the Apar Industries share price today?
Ans. Apar Industries closed at Rs 14,205 on 9 November 2026, according to NSE data. It has a market cap of Rs 59,484 crore and a P/E of 43.19. Check live quotes before acting, as prices change every trading day.
What is the 3-year CAGR of the Apar Industries stock?
Ans. Apar Industries delivered a price CAGR of 39.9% over three years, moving from Rs 5,185.40 on 9 November 2023 to Rs 14,205.00 on 9 November 2026. The figure excludes dividends and uses adjusted closing prices.
Is Apar Industries better than Polycab?
Ans. The Apar Industries stock delivered a higher three-year CAGR at 39.9% than Polycab at 15.1%. Polycab is larger by market cap at Rs 1,17,853 crore and has the higher ROE at 24.10% against 16.16%, while Polycab trades at a lower P/E of 36.80 than Apar at 43.19.
What does Apar Industries do?
Ans. Apar Industries is a Mumbai-based maker of aluminium and alloy conductors, power and specialty cables, and specialty oils, with a large share of sales going to exports.
Is the Apar Industries stock debt free?
Ans. The debt to equity ratio of the Apar Industries stock is 0.12 and its return on equity is 16.16%. Always check the latest balance sheet for current figures, as debt levels change with expansion plans.
Is Apar Industries expensive compared with the industry?
Ans. Apar Industries trades at a P/E of 43.19 against an industry P/E of 42.52. A higher multiple reflects expectations of faster growth, which the company must deliver through earnings.
Which cables stock gave the highest return in 3 years?
Ans. Among the companies compared here, Apar Industries delivered the highest three-year CAGR at 39.9%, followed by Polycab India at 15.1%. Past returns do not guarantee future performance.
How do I calculate CAGR for a stock?
Ans. Divide the latest price by the starting price, raise the result to the power of one divided by the number of years, and subtract one. Multiply by 100 for a percentage. Use split and bonus adjusted prices for accurate results.
