NSE: CORDSCABLE · BSE: 532941
CORDS CABLE INDUS LTD.
Manufactures cables and wires from a production base in Bhiwadi, Rajasthan, selling to downstream power, infrastructure and industrial buyers in India. In FY26, revenue from operations reached Rs 95,390 lakhs, up 20% from Rs 79,456 lakhs in FY25, while profit after tax rose 40.7% to Rs 2,064 lakhs and EPS moved to Rs 15.88. The cost structure is dominated by raw materials, which accounted for Rs 826.25 crore or 86.6% of revenue, leaving employee costs at 4.5% and other operating expenses at 7.5%. Depreciation was 1% of revenue and capex was 1.1%, indicating a relatively asset-light capital cycle within the manufacturing footprint. The Board recommended a final dividend of Rs. 1.20 per share (12% on face value of Rs. 10) for FY26, payable after AGM approval. The business carries a debt-to-equity ratio of 0.49 and an ROCE of 22.8%, with operating margins (EBITDA) of 6.6%. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Cable and wire manufacturing. Asset-light cyclical cable and wire manufacturer
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 438 | 526 | 628 | 795 | 954 |
| EBITDA (ex other income) | 38 | 40 | 41 | 49 | 58 |
| margin % | 8.7 | 7.5 | 6.6 | 6.2 | 6.1 |
| Owners' profit | 6 | 7 | 10 | 15 | 21 |
| EPS, as reported (₹) | 4.91 | 5.52 | 7.76 | 11.25 | 15.88 |
| ROE % · ROCE % | 4.2 · 18.3 | 4.5 · 17.9 | 6.0 · 19.9 | 8.0 · 20.9 | 10.2 · 22.8 |
| Debt / equity (x) | 0.55 | 0.47 | 0.46 | 0.57 | 0.49 |
| Cash from operations | 30 | 35 | 30 | 14 | 43 |
| Capex | (10) | (6) | (5) | (20) | (10) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 183 | 205 | 233 | 226 | 226 | 236 | 267 | 247 |
| Profit before tax | 4 | 6 | 6 | 5 | 5 | 7 | 11 | 11 |
| Net profit | 3 | 5 | 4 | 4 | 4 | 5 | 8 | 8 |
| EPS (₹) | 2.02 | 3.61 | 3.40 | 2.97 | 2.74 | 3.78 | 6.39 | 6.01 |
Exhibit 3: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 24 Oct 2026 · GST appeal won; challenged order set aside | regulatory legal | medium | — | — |
| 23 Oct 2026 · Newspaper notice of board meeting to approve Q2 FY26 results | compliance | minimal | — | — |
| 22 Oct 2026 · Board meeting on Nov 6 to consider Q2 FY26 results | board shareholder meetings | low | — | — |
| 9 Oct 2026 · Cords Cable gets credit rating upgrade from CARE Ratings | credit debt | medium | — | — |
| 7 Oct 2026 · RTA confirmation certificate under Regulation 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 6 Oct 2026 · 35th AGM: 12% dividend and MD pay hike cleared; 2 related-party items rejected | board shareholder meetings | low | — | — |
| 30 Sept 2026 · New statutory auditor appointed for five year term | management changes | medium | — | — |
| 29 Sept 2026 · AGM results: 12% dividend cleared, 2 DA resolutions for VPs fail | board shareholder meetings | medium | — | — |
| 28 Sept 2026 · 35th AGM held; Rs 1.20/share dividend declared; 9 resolutions passed | board shareholder meetings | medium | — | — |
| 18 Sept 2026 · Trading window closure from October 1, 2026 ahead of Q2 results | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.