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#84

Kushal Desai and Family

Apar Industries

Net Worth (INR)

₹22,921 Cr

Net Worth (USD)

$2,452 Mn

Location

Vadodara

Industry

Electronic Equipment Instruments & Components

Industry

Electronic Equipment Instruments & Components

APAR Industries is the world's largest manufacturer of specialised aluminium conductors. Most people have never heard of the company, but its products carry electricity across continents.

APAR Industries was founded by Dharmsinh Desai and has been developed by Kushal Desai and Chaitanya Desai, the third generation, into a global manufacturer of conductors, specialty oils, cables, polymers and lubricants. The company is the world's largest manufacturer of specialised aluminium conductors for power transmission, a technically demanding product category where quality tolerances determine the efficiency and longevity of electricity transmission infrastructure. That global leadership position in a specific product creates a more defensible competitive position than general-purpose manufacturing, because the specifications required and the relationships with large power utilities built over decades create barriers that newer entrants cannot quickly replicate.

The company has expanded into renewable energy conductors and cables specifically designed for solar and wind installation applications, positioning it inside the supply chain for the global clean energy build-out. The next generation, including Rishabh, Devharsh, Nitika, Gaurangi and Jinisha Desai, are active across different parts of the business. Dharmsinh Desai University and the DDMM Heart Hospital, founded by the family in Nadiad, Gujarat, are institutions that have outlasted the founding generation.

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