Dynamic Cables Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Dynamic Cables Ltd filed with BSE on 18 May 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 revenue growth of 17% for FY26 with operating profit up 23% to Rs 130 crore and PAT up 30% to Rs 84 crore, while Q4 revenue growth slowed due to a high base, discontinuation of low-margin conductor and railway cable products, and order deferrals linked to a sharp rise in aluminium and PVC prices in March. Management said the new greenfield capacity, delayed by regulatory approvals, import machinery disruptions linked to the Iran war, and AERB compliance requirements, is now expected to begin trial production in a few months and go live by September 2026. The company also disclosed a technology tie-up with TS Conductor Corp to enter the high voltage conductor market and discussed renewed US export plans following a reduction in tariffs.
Numbers mentioned
Revenue growth: 17% (FY26)
p. 4
“Revenue grew by 17% Y-o-Y, while operating profit increased by 23% to INR130 crores, supported by improved operating leverage and a better product mix.”
Murari Lal Poddar, page 4 of the filed PDF · View the filing
Operating profit: INR130 crores (FY26)
p. 4
“Revenue grew by 17% Y-o-Y, while operating profit increased by 23% to INR130 crores, supported by improved operating leverage and a better product mix.”
Murari Lal Poddar, page 4 of the filed PDF · View the filing
Operating margin: 10.8% (FY26)
p. 4
“Operating margin improved to 10.8%, reflecting enhanced operational efficiency.”
Murari Lal Poddar, page 4 of the filed PDF · View the filing
Profit after tax: INR84 crores (FY26)
p. 4
“Profit after tax rose by 30% to INR84 crores, driven by disciplined execution, strong business momentum, and prudent financial management.”
Murari Lal Poddar, page 4 of the filed PDF · View the filing
Order book: INR808 crores (as of 31st March 2026)
p. 4
“As of 31st March 2026, our order book stands at INR808 crores, providing strong revenue visibility.”
Murari Lal Poddar, page 4 of the filed PDF · View the filing
Government sales contribution: 13% (FY26)
p. 4
“Customer-wise contribution in FY '26 was around: Government sales 13%, Private sales 80%, Export 7%.”
Murari Lal Poddar, page 4 of the filed PDF · View the filing
HV cable contribution: 64% (FY26)
p. 4
“Product-wise contribution in FY '26 was: HV cable 64%, LV cable 30%, Conductor 6%.”
Murari Lal Poddar, page 4 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 said core product growth was 20% in Q4, with 12% attributable to realization and 8% to volume, and clarified the discontinued conductor and railway cable products explained the gap to reported 7% overall growth.
Answered by Management
Asked by Piyush Sevaldasani: How much of Q4 growth was volume versus realization?
p. 4
“So, if we adjust these two items and our core products, which are our power cables, renewable cables, LV/HV cables which and our niche conductors which we manufacture, niche products.”
Management, page 4 of the filed PDF · View the filing
Management attributed slower order booking to deferment caused by a sudden spike in aluminium and PVC prices in March.
Answered by Management
Asked by Piyush Sevaldasani: Why did order book growth appear weak at 18%?
p. 6
“there has been a deferment of order booking from March, in the month of March because of the sudden spike in the prices of aluminium and PVC, which are our key raw materials.”
Management, page 6 of the filed PDF · View the filing
Management cited regulatory approval delays, import machinery delays from Iran war-related freight disruptions, and AERB compliance requirements.
Answered by Management
Asked by Yash: What caused the 15-month delay in the new plant versus original guidance?
p. 7
“there were some import machineries which were got delayed because of this freight-related issues of late after this Iran war.”
Management, page 7 of the filed PDF · View the filing
Management said the debt increase was seasonal working capital borrowing and did not expect a jump in finance costs.
Answered by Management
Asked by Nitin Jain: Will finance costs rise given increased net debt?
p. 8
“Sir, the entire borrowing which you look at is our working capital borrowings. So it all depends on the seasonality.”
Management, page 8 of the filed PDF · View the filing
Management described it as an early step to enter the high voltage conductor market with no fixed timeline for revenue, pending product approvals and type testing.
Answered by Management
Asked by Pranav Jain: What are the details and revenue potential of the TS Conductor Corp tie-up?
p. 11
“There is no hard timeline that what when this would materialize into revenue and sales.”
Management, page 11 of the filed PDF · View the filing
Management said export share declined slightly in FY26 due to tariff-related delays in US plans but expects a long-term rise to 10%-15% of revenue.
Answered by Management
Asked by Khadija Mantri: What is the outlook for export share and the US market?
p. 15
“there was some tariff problem which kind of delayed our US plans, US entry plans, which we are now re-establishing again and that should have a critical that should give a critical boost to our export program.”
Management, page 15 of the filed PDF · View the filing
Management acknowledged the number could change with commodity prices but said the last formal assessment gave Rs 135 crore per month.
Answered by Management
Asked by Jay Mehta: Does the guided Rs 135 crore monthly capacity turnover still hold given commodity price increases?
p. 18
“it would have increased that number might have increased marginally now, but at the time of last assessment which we did, it was INR135 crores.”
Management, page 18 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.