Company Disclosure

Key Financial Performance - Q1 FY27

Revenue Performance

  • Revenue: ₹2,013 Cr, representing 44.3% YoY growth and 3.2% QoQ growth
  • Growth drivers: Pass-through of higher copper prices and volume growth

Profitability Metrics

  • Gross Profit: ₹391 Cr (47.4% YoY growth)
  • Gross Profit Margin: 19.4% (40 bps YoY improvement, 197 bps QoQ improvement)
  • EBITDA: ₹248 Cr (89.6% YoY growth, 21.9% QoQ growth)
  • EBITDA Margin: 12.3% (294 bps YoY improvement, 189 bps QoQ improvement)
  • PAT: ₹221 Cr (59.4% YoY growth, 37.3% QoQ growth)
  • PAT Margin: 11.0% (104 bps YoY improvement, 273 bps QoQ improvement)
  • EPS: ₹14.47 (59.4% YoY growth)

Expense Breakdown

  • Employee Cost: ₹55 Cr (14.6% YoY growth)
  • Other Operating Expenses: ₹88 Cr (1.9% YoY growth)
  • Finance Cost: ₹0.45 Cr (7.1% YoY growth)
  • Tax: ₹56 Cr (75.6% YoY growth)

Business Segment Performance

Electrical Cables

  • Increased raw material prices passed through to customers
  • Significant volume growth in Auto, Industrial, Agriculture and Solar applications

Communication Cables

  • Optic Fiber Cables: Significantly higher volumes than previous year with higher realizations and margins
  • Volume impact across board due to disturbances in West Asia causing supply chain disruptions and lower fuel availability
  • Lighting segment affected by price erosion, resulting in marginal degrowth

Strategic Initiatives & Business Updates

Pillar I: Electrical Cables Expansion

  • Increasing power cable exposure to utility-side projects with active tender participation
  • E-Beam curing technology offering 40-50-year life cycles for high-rise buildings
  • Solar cables expected to be major revenue stream with capacity planning underway
  • Auto cables segment showing strong growth pipeline
  • Industrial cables growing at healthy rate via multiple SKUs

Pillar II: Communication Cables Backward Integration

  • Preform plant commissioned, making company only the second Indian producer
  • Eliminates 5% import duty on non-Japan imports and supply chain dependency
  • Fiber draw capacity expansion from 4 to 8 Mn Km on track
  • Phase 1 equipment (4-6 mn km) at site pending cleanroom completion
  • Phase 2 equipment (6-8 mn km) expected by March 2026
  • Full 8 mn km capacity operationalization expected by end of Q2 FY27

Pillar III: FMEG Business Scaling

  • Focus on growing Fast-Moving Electrical Goods segment
  • New models under design across all categories
  • Fans and water heaters expected within 6 months
  • Switch/switchgear variants require 6-8 month certification timelines
  • New launches guided for near-term quarters

Pillar IV: Channel & Retail Expansion

  • Pan-India network comprising over 800 distributors, 5,000 channel partners, and 215,000 retailers
  • Aiming to extend retail reach to 250,000 retailers
  • Focus on Tier 2 & 3 cities and rural areas
  • Strengthening partnerships with real estate developers

Manufacturing Capabilities

Five manufacturing facilities located at:

  • Pimpri, Pune, Maharashtra: Speaker cables and winding wire for pump-set industry
  • Ponda, Goa: Copper rods
  • Roorkee, Uttarakhand: Electrical wires for construction, automobiles, switches, switchgear, agricultural application
  • Verna, Goa: Electrical wires, optic fibre cables, co-axial cables, jelly-filled telephone, conduits with accessories
  • Urse, Pune, Maharashtra: All electrical wires, optic fibre cables, wires for automobile, solar, industrial & agricultural applications, all communication and LT & HT power cables

Corporate Overview

  • Established: 1958
  • Listed: October 1983
  • Market share: 23.9% in organized wire industry
  • Employee strength: 1,606
  • Distribution: 28 States, 8 Union Territories, 26 depots
  • Rating: CRISIL AA+/Stable (reaffirmed)
  • Distribution network: ~800 distributors, ~5,000 channel partners, ~215,000 retailers

Historical Financial Performance (Consolidated)

FY21-FY26 Revenue Trend

  • FY21: ₹2,768 Cr
  • FY22: ₹3,768 Cr
  • FY23: ₹4,481 Cr
  • FY24: ₹5,014 Cr
  • FY25: ₹5,319 Cr
  • FY26: ₹6,321 Cr (18.8% YoY growth)

FY26 Full Year Performance

  • Revenue: ₹6,321 Cr
  • PAT: ₹623 Cr
  • EPS: ₹40.73
  • EBITDA: ₹630 Cr (10.0% margin)

Balance Sheet Highlights (FY26)

  • Total Assets: ₹5,652.11 Cr
  • Total Equity: ₹6,085.88 Cr
  • Non-current Assets: ₹2,120.14 Cr
  • Current Assets: ₹3,531.97 Cr
  • Inventories: ₹1,023.17 Cr
  • Investments: ₹1,875.27 Cr
  • Cash and Cash Equivalents: ₹163.13 Cr
  • Trade Receivables: ₹370.08 Cr

Cash Flow Statement (FY26)

  • Net Cash Flow from Operating Activities: ₹49.08 Cr
  • Net cash flow from Investing activities: ₹152.83 Cr
  • Net cash flow from Financing activities: ₹-128.91 Cr
  • Net Increase in cash and cash equivalents: ₹73.00 Cr

Forward-Looking Statements

The presentation contains forward-looking statements based on management's current expectations, estimates and assumptions. Actual results may differ materially due to various risks including changes in economic conditions, industry demand, competitive intensity, commodity prices, foreign exchange rates, regulatory developments, supply chain disruptions, project execution and other factors beyond the Company's control.

Investor Relations Contact

Dentsu One – Investor Relations team comprising Pratik Patil, Pranay Premkumar, and Rajvi Shah with provided contact details.