Financial Performance - Q1 FY27 vs Q1 FY26

  • Revenue from operations reached ₹2,870 million in Q1 FY27, representing 83% growth compared to ₹1,567 million in Q1 FY26
  • EBITDA stood at ₹254.3 million, growing 85.6% year-over-year from ₹137.0 million in Q1 FY26
  • EBITDA margin improved to 8.88% from 8.76% in Q1 FY26, showing a 408 basis point improvement over Q4 FY26
  • Profit Before Tax (PBT) was ₹105.2 million, increasing 135.1% from ₹44.8 million in Q1 FY26
  • Profit After Tax (PAT) reached ₹75.9 million, up 146.2% from ₹30.8 million in Q1 FY26
  • Earnings Per Share (EPS) for the quarter was ₹8.79 compared to ₹3.57 in Q1 FY26

Segment Performance

Revenue contribution by segment for Q1 FY27:

  • EPC segment: 50% of revenue, grew 80% year-over-year
  • Railways segment: 19% of revenue, grew 15% year-over-year
  • Telecom segment: 9% of revenue
  • Other segments: 21% of revenue

Order Book Position

As of June 30, 2026, the total order book stands at ₹4,182 million, which represents approximately 1.5 times Q1 FY27 revenue. The order book composition:

  • EPC orders: ₹3,697 million (88% of total order book)
  • Railway orders: ₹250 million (6% of total order book)
  • Telecom orders: ₹235 million (6% of total order book)

Working Capital Efficiency

  • Working capital days improved to 74 days in FY26 from 218 days in FY22 and 138 days in FY24
  • Cash conversion cycle improved to 51 days in FY26 from 214 days in FY22 and 112 days in FY24
  • The company aims to maintain working capital cycle of less than 75-80 days
  • Inventory rationalization achieved by reducing SKUs and focusing on product range that maximizes value

Balance Sheet Highlights (as of June 30, 2026)

  • Inventories: ₹1,157.0 million
  • Trade Receivables: ₹957.6 million
  • Cash & Cash Equivalents: ₹84.8 million
  • Total Current Assets: ₹2,326.2 million
  • Total Assets: ₹2,672.4 million
  • Share Capital: ₹86.4 million
  • Total Equity: ₹713.4 million
  • Borrowings: ₹1,131.4 million
  • Current Liabilities: ₹814.4 million

Company Overview

Delton Cables is a 75-year-old cables and wires company specializing in low-voltage cables. The company has transformed into a customized branded supplier for high-growth sectors including railways, EPC, telecom, and smart metering. The company has manufacturing facilities with capacity of 1500 CR under various segments.

Board Composition

The board includes:

  • Vijender Kumar Gupta - Chairman & Whole-time Director (60+ years industry experience)
  • Vivek Gupta - Managing Director (30+ years industry experience)
  • Shalini Gupta - Non-executive Director (10 years on board, focused on CSR and ESG)
  • Ankit Arora - Whole-time Director (15+ years with company in Marketing & Operations)
  • Four independent directors: Amit Ramani, Atul Aggarwal, Abhishek Poddar, and Gagan Sinha

Market Context

The company operates in a market expected to grow from USD 23.1 billion in 2026 to USD 35.6 billion in 2031, representing approximately 9% CAGR. Key growth drivers include power T&D and renewables (500 GW non-fossil capacity target by 2030), railway electrification, telecom and data centers (5G fiberization), and market formalization through mandatory BIS certification.