
Apar Industries is experiencing pressure on its shares due to slower export order finalizations, impacting near-term earnings visibility. While margins are protected by cost pass-through clauses, tariff uncertainty and elevated commodity prices have lengthened contracting cycles, particularly for conductors which constitute over half of the company's revenue. Management anticipates a soft December quarter but expects execution to normalize, with guided volume growth and EBITDA per tonne levels for the fiscal year.