New Delhi, Dec. 30 -- The stock of Apar Industries Ltd, a global manufacturer of aluminium and alloy conductors, is down 19% over the past year amid concerns over a loss of growth momentum driven by tariff-led trade protectionism and slower export order finalizations.

In a recent interaction with PL Capital, the management indicated a soft December quarter (Q3FY26). While orders have not been cancelled, finalizations-particularly in export markets-have been delayed, weighing on near-term execution visibility.

Conductors account for over half of Apar's revenue, with around 45% of segment sales coming from exports, including the US. Tariff uncertainty and elevated aluminium and copper prices have lengthened contracting cycles in these mar...