Universal Cables Q2 FY27 results: net profit up 33.9% to ₹63.85 crore, revenue up 25.1%

How did Universal Cables perform in Q2 FY27?

Universal Cables reported consolidated revenue of ₹1,019 crore in Q2 FY27, up 25.1% from ₹814.29 crore in Q2 FY26. Total income rose to ₹1,031.35 crore from ₹824.27 crore, and EBITDA was ₹81.54 crore, up 10.6%. The EBITDA margin narrowed 1.1 percentage points to 8.0%, while profit after tax rose 33.9% to ₹63.85 crore and basic EPS was ₹18.4.

Against Q1 FY27, revenue rose 7.8% to ₹1,019 crore from ₹945.06 crore and total income was ₹1,031.35 crore. EBITDA fell 10.8% to ₹81.54 crore from ₹91.46 crore, with the margin down 1.7 percentage points to 8.0%. Profit after tax fell 9.0% to ₹63.85 crore from ₹70.14 crore, and basic EPS was ₹18.4 against ₹20.22.

On a standalone basis, Q2 FY27 revenue was ₹1,018.57 crore, up 25.1%, and profit after tax was ₹33.12 crore. Standalone profit before tax was ₹36.55 crore. The board approved both the standalone and consolidated unaudited results for the quarter and half year ended 30 September 2026.

What changed in Universal Cables' costs and profit?

Total expenses rose 27.5% to ₹990.62 crore in Q2 FY27 from ₹776.75 crore in Q2 FY26, outpacing the rise in revenue. Cost of materials was the largest increase, up 40.5% to ₹799.11 crore from ₹568.89 crore. Finance costs rose 50.5% to ₹40.71 crore from ₹27.05 crore, depreciation rose 40.8% to ₹12.88 crore from ₹9.15 crore, and employee cost rose 19.1% to ₹38.83 crore from ₹32.61 crore.

Other expenses were ₹90.81 crore in Q2 FY27 against ₹88.97 crore a year earlier, and there was no exceptional item in either quarter. Other income rose 28.1% to ₹12.78 crore from ₹9.98 crore. Profit before tax fell 14.3% to ₹40.73 crore from ₹47.51 crore, while tax was lower at ₹13.22 crore against ₹14.12 crore.

Sequentially, other income rose to ₹12.78 crore from ₹3.12 crore in Q1 FY27, while finance costs rose to ₹40.71 crore from ₹36.49 crore and cost of materials to ₹799.11 crore from ₹730.08 crore. Profit before tax fell 11.3% to ₹40.73 crore from ₹45.90 crore, and tax fell to ₹13.22 crore from ₹14.70 crore. The filing does not state reasons for these changes.

How did the first half of FY27 go?

For the first half of FY27, consolidated revenue was ₹1,963.63 crore, up 38.8% from ₹1,414.48 crore in H1 FY26. Total income rose 38.7% to ₹1,979.52 crore from ₹1,426.85 crore, and profit before tax was ₹86.63 crore, up 15.5% from ₹75.03 crore.

Net profit for H1 FY27 was ₹133.99 crore, up 66.3% from ₹80.59 crore in H1 FY26, and EPS was ₹38.62 against ₹23.23. The board's filing described the first-half profit growth as 63.7%.

What do the balance sheet and cash flow show?

Total assets stood at ₹5,074.41 crore as on 30 September 2026, against ₹4,323.09 crore as on 31 March 2026. Total equity rose to ₹2,175.64 crore from ₹1,891.01 crore, while borrowings were higher at ₹1,471.57 crore against ₹1,175.65 crore. Cash and cash equivalents were ₹6.73 crore, compared with ₹5.2 crore.

Inventories were ₹742.44 crore against ₹607.52 crore at the previous balance sheet date, and trade receivables were ₹1,369.17 crore against ₹1,144.41 crore. Trade payables were ₹603.41 crore, lower than ₹752.36 crore as on 31 March 2026. In H1 FY27, operating cash flow was negative ₹87.67 crore against negative ₹3.7 crore in H1 FY26, and investing cash flow was negative ₹112.77 crore against negative ₹92.31 crore.

Financing cash flow for H1 FY27 was ₹201.97 crore, against ₹94.66 crore in H1 FY26, and capital expenditure was ₹131.9 crore compared with ₹101.85 crore in the earlier period.

How has Universal Cables done over the last 8 quarters?

Revenue has risen year on year in each of the last eight quarters, from ₹607.54 crore in Q3 FY25 to ₹1,018.57 crore in Q2 FY27. Profit after tax rose year on year in each of the last seven quarters, and reached ₹70.14 crore in Q1 FY27 before falling to ₹63.85 crore in the September 2026 quarter.

The EBITDA margin was 9.7% in Q1 FY27 and 8.0% in Q2 FY27, against 9.1% in Q2 FY26. Revenue peaked at ₹1,018.57 crore in the latest quarter, while the profit peak of ₹70.14 crore and margin peak of 9.7% were both in the preceding quarter. The margin bottom of the series was 5.7% in Q3 FY25, when revenue was ₹607.54 crore and profit after tax was ₹15.83 crore.

What else did the company announce?

The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026, along with the limited review reports of the statutory auditors. The meeting on 4 November 2026 began at 11:45 A.M. and concluded at 7:36 P.M. after a brief adjournment.

The company also reported changes at board level. The tenure of Kishore Kumar Mehrotra as a non-executive independent director ends with effect from the close of business hours on 10 November 2026, following completion of his approved five-year term. The board appointed Sutirtha Bhattacharya as an additional director in the capacity of non-executive independent director, not liable to retire by rotation, for a first term of five consecutive years from 4 November 2026 to 3 November 2031, subject to shareholder approval. The same-day filings did not announce a dividend or a fund raise.

How did Universal Cables shares react?

The filing appeared after market hours, from a base price of ₹1,235.0 against the previous close of ₹1,301.7. Within the first 5 minutes the stock was down 1.4%, and after 15 minutes it was down 4.1%. At 30 minutes the move was down 2.5%. Data for the reaction day and the following one and five sessions is not available, as are industry and market comparisons.

How did other Cables - Electricals companies do?

Seven other companies in the Cables - Electricals industry filed for this quarter, and their median revenue growth was 38.5%. Six peers grew faster than Universal Cables and one grew slower, while five of the six peers with comparable profit data reported higher profit. These peer figures are stated as on 5 November 2026.