The agreement is aimed at strengthening the downstream industrial ecosystem and enhancing local content. Under the arrangement, APAR will be supplied base oils within the LubeHub Value Park in Yanbu, Saudi Arabia.

The agreement will enable APAR to produce its flagship transformer oils, along with a wide range of specialty oils. The company said the signing supports downstream growth and development within the LubeHub ecosystem.

APAR Industries is a leading manufacturer of conductors, transformer and specialty oils, and power and telecom cables, with a strong global presence across more than 140 countries. The company operates manufacturing facilities in India and the UAE and caters to the power transmission, distribution, and telecom sectors. Over the years, APAR Industries has evolved from a power conductor manufacturer into a diversified electrical and energy solutions company with three key business segments: Conductors, Transformer and Specialty Oils (TSO), and Power/Telecom Cables.

APAR Industries reported a 1.4% rise in consolidated net profit to Rs 253.44 crore on a 26.7% increase in revenue from operations to Rs 6,602.81 crore in Q4 FY26 over Q4 FY25.