Mumbai, Sept. 10 -- The agency has affirmed the company's short-term rating at 'CARE A1+'.

CARE Ratings stated that the rating upgrade factors in APAR's strengthening of business profile, reflected in sustained growth in scale of operations and improving profitability across its conductors, cables and speciality oils businesses. The company reported healthy growth in operating income, which increased by 23.2% to Rs 22,902 crore in FY26 and by 29.1% year-on-year to Rs 6,591 crore in Q1 FY27.

Profit before interest, lease rentals, depreciation and taxation (PBILDT) increased by 21.1% to Rs 1,922 crore in FY26, while operating margins improved to 11.50% in Q1 FY27 from 8.86% in Q1FY26, supported by increasing contribution from premium prod...