A Step Ahead

KUSHAL N. DESAI SEES OPPORTUNITIES IN CHALLENGES AS HE LOOKS TO CONTINUE THE STRONG RUN RATE OF APAR INDUSTRIES.

- BY ASHUTOSH KUMAR

OPPORTUNITY ONLY knocks once, but when it does, one needs to be prepared, says Kushal N. Desai, CMD of APAR Industries. His own company, founded in 1958 as Power Cables by his father, the late Dharamsinh D. Desai, abides by this philosophy. More than six decades later, the small conductors' company has grown into the largest aluminium and alloy conductor manufacturer in the world. It is also the third-largest transformer oil manufacturer globally. The diversified manufacturer and supplier of conductors, cables, speciality oils, polymers, and lubricants now has businesses spanning 140 countries.

Desai has been spearheading APAR's growth ever since he joined the family business in 1989. Under his leadership, the Mumbai-based company has grown leaps and bounds, especially over the past couple of years, as it cashed in on domestic as well as global energy transition themes of solar and wind power, and electric mobility. According to database provider Capitaline, APAR registered a 25.7% CAGR in net sales over the past three financial years. Its net profit hit a 47.3% CAGR during the same period. High-margin products, such as high-temperature low-sag (HTLS) conductors, E-beam wires with superior durability, and speciality lubricants, also contributed to the exuberant growth rate. However, Desai says the company has been preparing for this outcome since long.

“Opportunity needs preparedness. APAR's vision statement, almost 12 years back, focussed on the basic building blocks: energy efficiency, reducing the cost of ownership for consumers, environmental compliance, and products with higher safety. We have several products that go right through this value chain,” Desai tells Fortune India.