Q4 Results: Dynamic Cables Posts 17% Growth; Shares Down 18.89%

Strong FY26 Earnings Growth Backed by Order Book Expansion

Mumbai, May 12: Dynamic Cables announced its audited financial results for the quarter and financial year ended March 31, 2026, reporting growth in revenue, operating profit and net profit, while the stock came under selling pressure during Tuesday’s trading session.

The company posted FY26 operating revenue of ₹1,197.8 crore compared with ₹1,025.4 crore in FY25, reflecting growth of nearly 17%, according to the company’s exchange disclosure filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Operating profit for FY26 stood at ₹129.6 crore against ₹105.4 crore a year earlier. Profit after tax increased to ₹84.4 crore from ₹64.8 crore in FY25, translating into growth of around 30% year-on-year.

For the quarter ended March 31, 2026, revenue rose to ₹355.5 crore from ₹331.2 crore in Q4FY25. Quarterly operating profit came in at ₹37.6 crore compared with ₹34.2 crore in the corresponding quarter last year. PAT for the quarter stood at ₹24.2 crore against ₹23.6 crore.

The company stated that its core products segment, including LV and HV power cables, renewable cables and niche products, delivered growth of 25% during FY26 and nearly 20% during Q4FY26.

Dynamic Cables also reported its highest-ever order book at approximately ₹808 crore as of March 31, 2026, versus ₹787 crore as of December 31, 2025.

Management said the company witnessed healthy order inflows during the year and continued to focus on higher value-added products, which supported profitability improvement. The company additionally highlighted lower finance costs resulting from credit rating enhancement and financial discipline.

Dynamic Cables Share Price Snapshot

Dynamic Cables share price declined sharply on May 12, 2026, after the earnings announcement and management commentary regarding implementation delays linked to statutory approvals and imported machinery deliveries.

Shares of the company traded at ₹333.20, down 18.89%, as of 1:55 PM IST on May 12, 2026. The stock had opened at ₹409 and touched an low-equivalent trading level of ₹328.65 during the session so far, according to exchange data.

The company noted that project implementation had been affected by approval-related timelines and disruptions in imported machinery deliveries arising from ongoing Iran war-related logistics conditions. However, management stated that new capacities are expected to become available ahead of the seasonally stronger second half of FY27.

Operating margin for FY26 improved to 10.8% from 10.3% in FY25. Quarterly operating margin also rose to 10.6% from 10.3% a year earlier.

The company reported cash flow from operations of ₹62 crore during the year. Receivable days on a trailing six-month gross sales basis stood at approximately 68 days in Q4FY26.

Borrowings data disclosed by the company showed total on-balance sheet debt reduced to ₹40.4 crore as of March 31, 2026, compared with ₹66.6 crore as of December 31, 2025.

Company Continued Product Expansion And Technical Partnerships

Dynamic Cables manufactures power infrastructure cables including LV, HV, MV, power control and instrumentation cables, along with signalling cables.

The company supplies products to government discoms, private distribution companies, EPC contractors, industrial customers and export clients. Manufacturing operations are located in Jaipur and Reengus.

During the year, the company launched FR-LSH and HR-FRLSH housing wires targeted at the B2B segment. It also received PGCIL approval for ACSR and AL-59 conductors.

Dynamic Cables further entered into a technical partnership with TS Conductor Corp, USA, for manufacturing and marketing HTLS carbon core conductors.

Outlook Hinges On Capacity Execution And Order Conversion

Management said the company remains confident of sustaining steady growth supported by execution capabilities and long-term opportunities in the power transmission and distribution capital expenditure cycle.

The company added that the upcoming capacity additions are expected to support growth during FY27 once implementation timelines stabilise and machinery installations are completed.

As per the regulatory filing, the company continues to prioritise product capability enhancement, customer approvals and operational execution standards amid increasing infrastructure and power sector demand.

Source:

• https://www.nseindia.com/get-quote/equity/DYCL/Dynamic-Cables-Limited
•  https://nsearchives.nseindia.com/corporate/DYNAMICCABLES_12052026131112_PRESS_RELEASE_RESULTS.pdf