BSE: 544524
JD CABLES LIMITED
Manufactures electrical wires, cables, and aluminium conductors for India's power transmission and distribution (T&D) sector. Operates two manufacturing units with a combined installed capacity of about 28,000 kilometres per year — a new conductor plant in Dankuni, West Bengal commenced production in July 2026, and a 1.18 lakh sq ft facility in Jamshedpur is being commissioned for the conductor and cable divisions. The core revenue line is selling cables and conductors to state electricity boards and government power utilities, with the company approved as a vendor in more than 15 states. A second, smaller line is EPC (engineering, procurement and construction) project work, anchored by a ~₹407 crore National Highway Development Project won in FY26. Raw materials (principally aluminium and copper) account for 88.9% of revenue cost, with employees at 0.7% and other opex at 7.7%. FY26 revenue was ₹364.59 crore at a 13.17% EBITDA margin, and an order book of ~₹515 crore as of March 2026 provides multi-year visibility. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Cables, wires and conductors, EPC projects. Cyclical, asset-heavy manufacturer of electrical infrastructure products for power T&D, now diversifying into EPC
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY26 |
|---|---|
| Revenue | 365 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 14.07 |
| ROE % · ROCE % | — · 31.9 |
| Debt / equity (x) | — |
| Cash from operations | (74) |
| Capex | (18) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q2 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 121 | 243 |
| Profit before tax | 16 | 26 |
| Net profit | — | — |
| EPS (₹) | 5.29 | 8.78 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| POLYCAB INDIA LIMITED | 1,16,260 | 40.4 | 9.59 | 27.4 | 22.3 | 28.9 | 26.5 | 15.1 |
| KEI INDUSTRIES LTD. | 37,002 | 37.1 | 5.55 | 25.8 | 13.8 | 17.9 | 22.9 | 13.0 |
| R R KABEL LIMITED | 24,678 | 40.6 | 9.59 | 30.2 | 19.1 | 23.9 | — | 10.4 |
| FINOLEX CABLES LTD | 17,832 | 22.3 | 2.93 | 17.9 | 11.7 | 14.1 | 18.0 | 16.7 |
| UNIVERSAL CABLES LTD | 4,702 | 23.5 | 2.49 | 20.3 | 8.6 | 5.0 | 18.7 | 10.0 |
| PARAMOUNT COMM LTD | 2,002 | 33.0 | 2.57 | 18.0 | 7.7 | 10.2 | 29.8 | 7.1 |
| QUADRANT FUTURE TEK LTD | 1,641 | — | 6.36 | — | (16.6) | (19.8) | — | (7.1) |
| DYNAMIC CABLES LIMITED | 1,636 | 17.9 | 3.58 | — | 18.5 | 24.2 | — | 11.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 12.3 | 22.3 | 1 of 11 | 100% |
| ROCE | 28.9 | 13.5 | 1 of 13 | 100% |
| Market cap | 390 | 1822 | 10 of 12 | 18% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · Routine RTA Compliance Certificate for Quarter Ended September 2026 | compliance | minimal | — | — |
| 8 Oct 2026 · JD Cables bags about Rs 30.43 crore cable supply order | business updates | high | — | — |
| 1 Oct 2026 · JD Cables AGM: All resolutions passed with 100% approval | compliance | low | — | — |
| 30 Sept 2026 · JD Cables 11th AGM held on Sept 30 2026 via video conferencing | board shareholder meetings | low | — | — |
| 30 Sept 2026 · JD Cables 11th AGM held, key resolutions passed | board shareholder meetings | low | — | — |
| 26 Sept 2026 · JD Cables management attended Arihant Capital Markets investor meet on Sept 25 | investor communications | low | — | — |
| 15 Sept 2026 · Trading window closed from Oct 1 until Q2 results declaration | compliance | minimal | — | — |
| 15 Sept 2026 · JD Cables bags about 12 crore order for cables and conductors | business updates | medium | — | — |
| 14 Sept 2026 · JD Cables starts Cable Division production at Dankuni unit | business updates | high | — | — |
| 10 Sept 2026 · JD Cables to participate in Arihant Capital Bharat Connect Conference on 25 Sept 2026 | board shareholder meetings | low | — | — |
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.