Manufactures electrical cables across three product lines — high-voltage (HV) cables, low-voltage (LV) cables and conductors. In Q1 FY27, HV cables made up 68% of sales, LV 30% and conductors 2%. Solar and renewable-energy cables account for roughly 20% of revenue, with management guiding 25–30% growth in this line over the next 3–4 years. Sells primarily to private-sector customers (71% of Q1 FY27 sales), with government customers at 16% and exports at 13%. The export share got a lift in Q1 FY27 from the first shipments to the US, entered via a distribution-led model after 15–18 months of licensing work. FY26 revenue was ₹1,197.82 crore with EBITDA margin of 11.38%. Materials (largely aluminium and copper) are by far the biggest cost at 83.3% of revenue, leaving employee costs at 3.9% and other operating expenses at 4.8%. The aluminium-cost link is also the main reason Q1 FY27 revenue growth of 33% was largely price-led, with volumes up only 5–6% year-on-year. A greenfield ₹45 crore plant is on track for September 2026 commissioning, with management targeting 80–85% utilisation by end-FY28. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. HV (high-voltage) cables (68%), LV (low-voltage) cables (30%), Conductors (2%). Capital-intensive cable manufacturer exposed to aluminium and copper prices
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 564 | 669 | 768 | 1,025 | 1,198 |
| EBITDA (ex other income) | 60 | 63 | 77 | 105 | 130 |
| margin % | 10.6 | 9.4 | 10.1 | 10.3 | 10.8 |
| Owners' profit | 31 | 31 | 38 | 65 | 84 |
| EPS, as reported (₹) | 14.04 | 14.09 | 17.16 | 27.31 | 17.42 |
| ROE % · ROCE % | 20.9 · 31.4 | 17.5 · 30.4 | 17.7 · 32.3 | 17.3 · 26.5 | 18.5 · 26.7 |
| Debt / equity (x) | 0.52 | 0.46 | 0.56 | 0.15 | 0.09 |
| Cash from operations | 64 | 27 | 1 | 56 | 62 |
| Capex | (6) | (13) | (21) | (25) | (57) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 234 | 252 | 331 | 262 | 282 | 299 | 355 | 349 |
| Profit before tax | 18 | 21 | 31 | 24 | 26 | 30 | 32 | 33 |
| Net profit | 14 | 16 | 24 | 18 | 20 | 22 | 24 | 25 |
| EPS (₹) | 5.72 | 6.52 | 9.73 | 3.76 | 4.05 | 4.63 | 4.99 | 5.15 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| POLYCAB INDIA LIMITED | 1,24,138 | 43.1 | 10.24 | 29.2 | 22.3 | 28.9 | 26.5 | 15.1 |
| KEI INDUSTRIES LTD. | 43,766 | 43.9 | 6.57 | 30.6 | 13.8 | 17.9 | 22.9 | 13.0 |
| R R KABEL LIMITED | 27,478 | 45.2 | 10.67 | 33.6 | 19.1 | 23.9 | — | 10.4 |
| FINOLEX CABLES LTD | 21,918 | 27.4 | 3.60 | 22.0 | 11.7 | 14.1 | 18.0 | 16.7 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · DGM Quality at Dynamic Cables resigns for personal reasons | compliance | low | — | — |
| 3 Sept 2026 · Dynamic Cables responds to exchange query on price movement | regulatory legal | medium | — | — |
| 2 Sept 2026 · BSE seeks clarification from Dynamic Cables on price movement | regulatory legal | medium | — | — |
| 23 Jul 2026 · Q1 FY27 transcript: record Q1 revenue up 33% YoY, US entry begins, new plant in September | investor communications | medium | — | — |
| 23 Jul 2026 · Dynamic Cables Q1 FY27: revenue up 33%, EBITDA margin 10.9%, US entry | investor communications | medium | — | — |
| 23 Jul 2026 · Dynamic Cables AGM 2026 voting results: all 7 resolutions passed | compliance | minimal | — | — |
| 23 Jul 2026 · Dynamic Cables 19th AGM: all 7 resolutions passed, Rs 0.50 dividend declared | board shareholder meetings | low | — | — |
| 21 Jul 2026 · 19th AGM held via VC; final dividend of Rs 0.50 per share approved | board shareholder meetings | low | — | — |
| 21 Jul 2026 · Dynamic Cables 19th AGM proceedings: Rs 0.50 dividend, director appointments | board shareholder meetings | medium | — | — |
| 21 Jul 2026 · Newspaper ad of Q1 FY26-27 unaudited results filed | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| UNIVERSAL CABLES LTD | 5,187 | 25.9 | 2.74 | 22.0 | 8.6 | 5.0 | 18.7 | 10.0 |
| DYNAMIC CABLES LIMITED ◆ | 2,221 | 24.4 | 4.86 | — | 18.5 | 24.2 | — | 11.2 |
| PARAMOUNT COMM LTD | 1,974 | 32.5 | 2.54 | 17.8 | 7.7 | 10.2 | 29.8 | 7.1 |
| QUADRANT FUTURE TEK LTD | 1,926 | — | 7.47 | — | (16.6) | (19.8) | — | (7.1) |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 24.4 | 25.9 | 5 of 11 | 60% |
| P/B | 4.9 | 4.2 | 6 of 10 | 44% |
| ROCE | 24.2 | 13.5 | 3 of 13 | 83% |
| ROE | 18.5 | 8.6 | 3 of 11 | 80% |
| Debt / Equity | 0.1 | 0.1 | 5 of 11 | 60% |
| EBITDA margin | 11.2 | 10.2 | 4 of 10 | 67% |
| Revenue growth | 33.2 | 36.1 | 6 of 10 | 44% |
| Profit growth | 37.0 | 35.0 | 5 of 10 | 56% |
| Market cap | 2221 | 2097 | 6 of 12 | 55% |
| 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 |
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.
