Dynamic Cables LimitedQ1 FY27 Results & Financial Update
Dynamic Cables Limited: Q1 FY27 standalone results and company financials – revenue ₹349.10 Cr, PAT ₹24.95 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore Dynamic Cables Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Profit before tax was ₹33.46 Cr for the reported quarter. EPS was ₹5.15 for the reported quarter.
Dynamic Cables delivered its highest-ever first-quarter revenue performance for the period ended June 30, 2026, supported by robust execution, an improving product mix, and sustained underlying demand across both government and private sector projects.
Standalone revenue from operations reached INR 349.10 crore for Q1 FY27, while total income stood at INR 350.28 crore. Management noted that key growth avenues during the quarter centered around renewable energy, private utilities, and international demand.
Profitability expanded concurrently, with profit before tax (PBT) registering at INR 33.46 crore and profit after tax (PAT) closing at INR 24.95 crore, resulting in a reported PAT margin of approximately 7.15%. Basic and diluted earnings per share (EPS) for the quarter stood at INR 5.15.
Operating performance benefited from an improved realization mix and stringent financial discipline, helping operating margins rise to 10.9% compared to 10.3% in the corresponding period of the previous year.
Total expenses for the quarter were reported at INR 316.82 crore, dominated by material consumption costs of INR 313.4451 crore and inventory changes. Employee benefit expenses stood at INR 13.78 crore, finance costs at INR 2.86 crore, and depreciation and amortization charges at INR 2.86 crore.
A notable strategic highlight during the quarter was the company's successful commercial entry into the United States market, marking a significant milestone in widening its international presence. Exports accounted for 13% of total revenue from operations.
01 · Historical context
What shaped the business before this quarter
The company raised INR 9,658.79 lakhs through a preferential equity issue in June 2024, of which INR 9,151.03 lakhs had been utilized toward issue objectives by June 30, 2026, leaving INR 507.76 lakhs invested in mutual funds.
On December 11, 2025, the Nomination and Remuneration Committee granted 200,000 stock options under DCL-ESOP 2024 at an exercise price of INR 324 per option, which subsequently adjusted to 190,508 options due to employee headcount changes.
02 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹349.10 Cr |
| Total income | ₹350.28 Cr |
| Profit before tax | ₹33.46 Cr |
| Profit after tax | ₹24.95 Cr |
| EPS | ₹5.15 |
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Demand was propelled by robust offtake from renewable energy installations, private distribution utilities, and industrial infrastructure projects.
Steady order inflows from both government Discoms and private EPC contractors sustained steady billing velocity throughout the quarter.
What drove margins
An improved high-value product mix contributed to an expansion in operating margins to 10.9% from 10.3% in the same quarter last year.
Cost of materials consumed represented the largest operational outflow at INR 313.44 crore, managed alongside inventory changes of negative INR 32.05 crore.
Financial discipline helped stabilize finance costs at INR 2.86 crore and depreciation at INR 2.86 crore despite capacity expansion activities.
04 · Demand, customers & order book
Where demand is coming from
The company's confirmed order book stood at approximately INR 811 crore as of June 30, 2026, supporting medium-term revenue visibility.
Supplies spanned government Discoms, private distribution companies, private EPC contractors, and industrial clients.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company's business activities fall within a single primary business segment focused on the manufacture and sale of electrical cables.
Geography and market mix
Achieved a strategic operational breakthrough by entering the United States market, expanding the geographic revenue base alongside domestic discom and industrial supply regions.
06 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Production is maintained across four manufacturing plants located in Jaipur and Reengus, Rajasthan.
Projects, capex and execution
Management reported that ongoing capacity expansion plans remain on track to support future volume growth.
07 · Strategy & new businesses
How the company is trying to change its growth mix
Pursuing international market penetration, exemplified by the successful entry into the US market to create alternative long-term growth avenues.
08 · Reported developments
What changed operationally
Delivered the highest-ever first-quarter revenue and healthy improvements in operating profits and PAT.
Successfully established an operational footprint in the United States, driving export growth to 13% of total operating revenue.
09 · Pressure points & risks
What is not going smoothly
Working capital loans rose to INR 64.4 crore as of June 30, 2026, up from INR 35.6 crore as of March 31, 2026, pushing net debt to INR 88.8 crore.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Receivable days, calculated on trailing six-month gross sales, stood at approximately 69 days in Q1 FY27.
Unutilized preferential issue proceeds of INR 507.76 lakhs remained invested in mutual funds as of June 30, 2026.
Capital allocation & funding
Total borrowings as of June 30, 2026, stood at INR 135.8 crore, comprising INR 2.5 crore in term loans from banks/FIs, INR 4.3 crore in other loans, INR 64.4 crore in working capital loans, and INR 64.6 crore in off-balance-sheet LC creditors.
With cash and cash equivalents standing at INR 47.0 crore, net debt was reported at INR 88.8 crore as of June 30, 2026, compared to INR 58.2 crore as of March 31, 2026.
11 · Management guidance & targets
What management is targeting from here
Management expressed confidence in sustaining the company's long-term growth trajectory, supported by a healthy order pipeline, ongoing infrastructure investments, and momentum across core businesses.
12 · Beyond the numbers
What changed beyond the numbers
Reported update
Labour code regulatory assessment
The company assessed the notified four labour codes and draft central rules, concluding there is no material financial impact based on current guidance from ICAI.
13 · Previous-quarter changes
What changed since the previous quarter
Operating revenue moved from INR 355.5 crore in Q4 FY26 to INR 349.1 crore in Q1 FY27, while PAT adjusted from INR 24.2 crore to INR 25.0 crore over the same period.
14 · Key Q&A
The quarter, answered directly
What is the clearest takeaway from Q1 FY27?
Profit before tax was ₹33.46 Cr for the reported quarter. EPS was ₹5.15 for the reported quarter.
What drove revenue or demand?
Demand was propelled by robust offtake from renewable energy installations, private distribution utilities, and industrial infrastructure projects.
What mattered most for margins or profitability?
An improved high-value product mix contributed to an expansion in operating margins to 10.9% from 10.3% in the same quarter last year.
What changed operationally beyond the headline numbers?
Production is maintained across four manufacturing plants located in Jaipur and Reengus, Rajasthan.
What is management guiding or targeting from here?
Management expressed confidence in sustaining the company's long-term growth trajectory, supported by a healthy order pipeline, ongoing infrastructure investments, and momentum across core businesses.
What are the main pressure points disclosed for the quarter?
Working capital loans rose to INR 64.4 crore as of June 30, 2026, up from INR 35.6 crore as of March 31, 2026, pushing net debt to INR 88.8 crore.
15 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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16 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Capacity expansion execution: Monitor the physical commissioning and operationalization milestones of ongoing capacity expansion plans at Jaipur and Reengus.
- 02
Export revenue scaling: Track the pace of order fulfillment and repeat business from the newly entered US market and broader export channels.
- 03
Working capital trajectory: Observe working capital utilization levels, receivable days, and net debt movements across upcoming quarters.
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