Dynamic Cables Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Dynamic Cables Ltd filed with BSE on 23 Jul 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Dynamic Cables reported its highest-ever first quarter revenue in Q1 FY27, with revenue growing 33% year-on-year and EBITDA rising 41% to Rs 38 crore. Management attributed much of the growth to higher aluminium prices rather than volume, with volume growth of only 5-6% during the quarter. The company also announced its first entry into the US export market and reported an order book of Rs 811 crore as of June 30, 2026.
Numbers mentioned
Revenue growth: 33% year-on-year (Q1 FY27)
p. 3
“company delivered a healthy financial performance with revenue growing by 33% year-on-year to its highest ever first quarter level”
Murari Lal Poddar, page 3 of the filed PDF · View the filing
EBITDA: INR38 crores (Q1 FY27)
p. 3
“EBITDA increased by 41% to INR38 crores supported by improved operating leverage, a favourable product mix, and continued cost discipline”
Murari Lal Poddar, page 3 of the filed PDF · View the filing
EBITDA margin: 10.9% (Q1 FY27)
p. 3
“EBITDA margin improved to 10.9% reflecting enhanced operational efficiency, while profit after tax grew by 37% to INR25 crores”
Murari Lal Poddar, page 3 of the filed PDF · View the filing
Profit after tax: INR25 crores (Q1 FY27)
p. 3
“while profit after tax grew by 37% to INR25 crores”
Murari Lal Poddar, page 3 of the filed PDF · View the filing
Order book: INR811 crores (As of 30th June 2026)
p. 4
“As of 30th June 2026, our order book stands at INR811 crores providing strong revenue visibility”
Murari Lal Poddar, page 4 of the filed PDF · View the filing
Customer-wise contribution - government sales: 16% (Q1 FY27)
p. 3
“Customer-wise contribution in Q1 FY27 was around government sales 16%, private sales 71%, export 13%”
Murari Lal Poddar, page 3 of the filed PDF · View the filing
Product-wise contribution - HV cables: 68% (Q1 FY27)
p. 3
“Product-wise contribution in Q1 FY27 was HV cables 68%, LV cables 30%, conductor 2%”
Murari Lal Poddar, page 3 of the filed PDF · View the filing
Solar cable revenue contribution: 20% (Q1 FY27)
p. 7
“Our solar cable revenue has been around 20% in Q1 and on the full year basis also I think it should remain in the similar range”
Management, page 7 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
New plant commissioning — commissioning to commence · September 2026
stated firmly by Ashish Mangal
p. 3
“Our ongoing capacity expansion project is progressing as planned and we expect commissioning to commence from September '26.”
Ashish Mangal, page 3 of the filed PDF · View the filing
New plant capacity ramp-up timeline — next 12 to 18 months
stated as an aspiration by Management
p. 12
“I think we should be able to ramp up our capacity in next 12 to 18 months before we get into some brownfield or some internal expansions into that plant”
Management, page 12 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management explained that fixed price contracts have raw material booked at order time, while variable price contracts pass on cost changes to customers.
Answered by Management
Asked by Sucrit D. Patil: How does the company manage margin pressure from volatile copper and aluminium input costs?
p. 4
“in variable price contract, we have a clause built in for price variation. So, whatever is the increase or decrease in input cost for the cable, we pass it on to our customers and customers bear that volatility”
Management, page 4 of the filed PDF · View the filing
Management said they optimize receivable days, negotiate favourable trade terms, and improve credit ratings to reduce borrowing costs, citing a working capital turnover ratio above 4x historically.
Answered by Management
Asked by Sucrit D. Patil: How does the company manage working capital and borrowing costs amid growth?
p. 4
“working capital turnover ratio is more than 4x compared to us, in our past track record if you look at it”
Management, page 4 of the filed PDF · View the filing
Management attributed the slowdown to a high base effect from last year and order postponements due to sudden raw material price increases, expecting improvement going forward.
Answered by Management
Asked by Piyush Sevaldasani: Why was volume growth weaker in Q1 and what is the outlook?
p. 5
“last Q1 our volume growth was around 25%, 26%. So, the base effect was quite high in this quarter”
Management, page 5 of the filed PDF · View the filing
Management said the company started its first supply to the US market this quarter after a 15-18 month effort, and expects reordering if initial trials go well.
Answered by Management
Asked by Piyush Sevaldasani: Can you explain the export breakthrough into the US market?
p. 6
“this quarter we finally entered into the US market. We started our first supply to the US market and it's a large, large market”
Management, page 6 of the filed PDF · View the filing
Management said there were no one-offs and that the strong results were driven by price increases, reiterating a long-term growth target rather than annual guidance.
Answered by Management
Asked by Ravi: Were there any one-offs behind the strong Q1 results, and what is the full-year guidance?
p. 7
“there was no one-off, Ravi. It was I mean as we discussed that I mean the price increase was quite substantial and that led to this high growth rates”
Management, page 7 of the filed PDF · View the filing
Management clarified it is a temporary pause due to weak margins and competition, not a shutdown, with capacity redeployed to other segments.
Answered by Management
Asked by Disha Chhabria: Is the railway signalling and low voltage cable exit permanent, and is further rationalization planned?
p. 10
“we have temporarily held back that segment once the competition becomes healthy or the market becomes healthy for us and we are waiting for the right time to come into that business”
Management, page 10 of the filed PDF · View the filing
Management attributed the debt increase mainly to higher inventory carrying value from rising raw material prices, not volume increases.
Answered by Management
Asked by Sonal Minhas: Why has debt risen despite similar revenue between March and June?
p. 14
“the major contributor for the debt to grow up is the higher value of the inventory -- the inventory carrying value has gone up because of the increasing raw material prices”
Management, page 14 of the filed PDF · View the filing
Management said Birla appears focused on house wire and Adani's plans are unclear, and that approval processes create barriers for new entrants.
Answered by Management
Asked by Gaurav Gandhi: Do Adani and Birla Group's captive cable manufacturing plans pose a risk to Dynamic Cables' orders from these groups?
p. 14
“Birla Group is more focused on the house wire segment rather than this power cable segment which we are into”
Management, page 14 of the filed PDF · View the filing
Management said customers are unwilling to lock in orders at elevated prices for projects executed months later, only booking near-term orders.
Answered by Management
Asked by Nitin Jain: Why hasn't PGCIL approval and an extended summer helped order booking given high aluminium prices?
p. 16
“nobody is willing to book material at such high prices for project executions in Q3. Nobody wants to do it. They're still waiting for prices to correct”
Management, page 16 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.