Enclosed herewith Audited Financial Results (Standalone and Consolidated) for the half year and financial year ended March 31, 2026.
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Jigar Cables reported consolidated revenue of Rs 5,795.18 lakhs for FY26, down 45% from Rs 10,510.81 lakhs in FY25. Profit after tax remained relatively flat at Rs 179.98 lakhs (vs Rs 182.18 lakhs), with EPS declining from Rs 2.59 to Rs 2.20. Standalone revenue fell to Rs 5,666.29 lakhs from Rs 10,314.70 lakhs, while PAT was Rs 174.52 lakhs (vs Rs 175.09 lakhs). The company reported negative operating cash flow of Rs 199.61 lakhs (vs positive Rs 659.18 lakhs in FY25). Significant capital expenditure of Rs 1,473.95 lakhs was incurred on property, plant and equipment. Long-term borrowings increased sharply to Rs 609.44 lakhs from Rs 49.98 lakhs. Share capital increased to Rs 901.20 lakhs due to conversion of share warrants. Auditors issued an unmodified opinion with no qualifications.
The steep revenue decline of 45% YoY is a major concern despite flat PAT, indicating cost management masked the sales drop. Negative operating cash flow and sharply increased debt levels raise liquidity concerns. Share warrant conversion and capex suggest expansion, but near-term financial stress is evident.