Pursuant to Regulation 30 and Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, we wish to inform you that: 1. The Board of Directors ....
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The board of JD Cables Limited approved the unaudited financial results for the half-year ended September 30, 2025, along with a clean Limited Review Report from statutory auditor Vinod Singhal & Co. LLP (no qualifications or emphasis of matter noted). Revenue from operations grew roughly 12.8% year-on-year to Rs. 12,125.53 lakhs in H1 FY26, with profit after tax at Rs. 1,192.60 lakhs (up about 15.6% YoY), giving a basic EPS of Rs. 5.29. A key concern was operating cash flow, which was sharply negative at Rs. (1,821.26) lakhs, driven mainly by a build-up in trade receivables and inventories to fund working capital expansion. The board also approved the Monitoring Agency report on IPO proceeds; the company had recently listed on the BSE SME platform on September 25, 2025 after raising Rs. 8,441.47 lakhs through a fresh issue of 55.53 lakh equity shares at Rs. 152 each. IPO funds are earmarked for working capital (Rs. 4,500 lakhs), debt repayment (Rs. 2,600 lakhs), general corporate purposes (Rs. 754 lakhs) and issue expenses, with about Rs. 7,700 lakhs parked in the monitoring account as of September 30, 2025 awaiting deployment.
Top-line and profit growth are healthy post-listing, but the steep negative operating cash flow is a red flag largely linked to working capital expansion funded by IPO money — investors should watch whether the cash conversion improves in coming quarters. With strong cash on the balance sheet from the recent IPO, the company has near-term flexibility, though sustained shareholder value will depend on turning receivables and inventory into actual cash inflows.