As per the agreement, Apar Industries Middle East Ltd., KSA, will supply base oils within the LubeHub Value Park in Yanbu in support of strengthening the downstream industrial ecosystem and enhancing local content.
This enables the company to produce its flagship transformer oils, with a wide range of other specialty oils, it said in an exchange filing.
Apar Industries Management’s Strong Outlook
Earlier this month, Apar Industries chairman and managing director Kushal Desai told CNBC-TV18 that he expects the company’s profits to at least double over the next four to five years as it expands its capacity and cable business, increases its presence in the US market and benefits from rising investments in power transmission and data centre infrastructure.
The company had ended the financial year 2026 with a revenue of around ₹23,500 crore. It is targeting annual revenue additions of around ₹4,000 crore to ₹5,000 crore via a combination of organic growth and fresh capacity. Desai added that Apar Industries is aiming for at least 15% annual growth over the upcoming years.
The cable business is a key driver of this growth. The company is targeting 25% annual growth in the same over the next five years. To support this, over half of Apar Industries’ planned capital expenditure is being directed towards increasing cable manufacturing capacity.
The company invested around ₹700 crore last year and now plans to invest ₹1,500 crore over the next 18 months, taking the total investment to roughly ₹2,200 crore. Desai said this capacity expansion should help the firm build a significantly larger revenue base over time.
Shares of Apar Industries Ltd. ended the previous session 0.7% lower at ₹16,168 apiece. The stock has already risen 95% so far this year.
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