Orient Cables (India) Limited – Investor Presentation Summary
Key Operational Highlights
- Volume growth for H1 FY27 stood ~60% YoY
- Exports grew approximately 32% QoQ and 82% YoY in Q2 FY27
- Exports grew 57% in H1 FY27 compared to H1 FY26
- Installed cable capacity of 9,63,096 km as of September 30, 2026 across three manufacturing units
- Average relationship tenure of over 9 years with Top 10 customers
- Serves 3 of India's Top 4 telecom companies by revenue as of March 2026
Key drivers of operational performance: Strong business momentum, diversified product mix, increasing contribution from Renewable segment (E-Beam), robust export performance, better capacity utilisation at Bengaluru facility
Financial Highlights
Revenue: ₹528.8 crore (Q2 FY27), ₹1,018.0 crore (H1 FY27)
EBITDA: ₹63.6 crore (Q2 FY27), ₹119.2 crore (H1 FY27)
PAT: ₹40.1 crore (Q2 FY27), ₹73.7 crore (H1 FY27)
EPS: ₹3.92 (Q2 FY27), ₹7.22 (H1 FY27)
Margins: Gross Profit Margin 20.3% (Q2 FY27), EBITDA Margin 12.0% (Q2 FY27), PAT Margin 7.6% (Q2 FY27)
YoY/QoQ comparison: Q2 FY27 Revenue grew 107% YoY and 8% QoQ; H1 FY27 Revenue grew 103% YoY; Q2 FY27 EBITDA grew 158% YoY and 14% QoQ; H1 FY27 EBITDA grew 155% YoY; Q2 FY27 PAT grew 180% YoY and 19% QoQ; H1 FY27 PAT grew 194% YoY
Drivers of financial performance: Favourable product mix, operating leverage, improved operational efficiencies, better capacity utilisation
Key Risks: Not Specified
Geographical Revenue Split
Domestic vs Export/Regional Revenue: Export performance highlighted but specific split not provided
Regional Breakdown: Not Specified
Balance Sheet Snapshot
Net Debt/Equity: Not Specified
Reserves: ₹594.0 crore (Standalone Sep-26)
Current Assets/Liabilities: ₹880.5 crore Current Assets, ₹431.0 crore Current Liabilities (Standalone Sep-26)
Working Capital/Leverage Metrics: Not Specified
Financial Health Insights: Strong capital efficiency with RoE 25.8% and RoCE 23.8% among peers in FY26
Capex & Cash Flow Health
Capital Expenditure: Setting up 11-acre manufacturing facility at Bhiwadi, Rajasthan with completion expected by H1 FY28
Free Cash Flow: Not Specified
Operating Cash Flow: ₹9.3 crore net cash from operating activities (Standalone H1 FY27)
Net Debt Movement: Not Specified
Investment Rationale: Strengthen and expand manufacturing capabilities, prepayment of borrowings to release internal accruals for strategic investments
Strategic & R&D Initiatives
Investments in Innovation: EV charging Guns and Cables, E-Beam Cables (Renewables and Railways), LAN cables, CCTV/coaxial cables, terminated assemblies, connectors
Expected impact on growth: Secured orders from leading automotive OEMs for EV charging, ramping up utilisation in Q3 FY27, targeting full capacity utilisation from Q4 FY27
Strategic Rationale: Become one-stop provider of passive networking infrastructure and allied solutions, diversifying into high-growth areas including E-Beam cables, EV charging assemblies and solar junction boxes
Industry Trends & Business Environment
Macro/Industry Trends: Broadband cables market expected to grow from ₹140.9B (FY26) to ₹317.5B (FY31) at 17.6% CAGR; Data centre power capacity expected to grow from 1.7 GW (FY26) to 10-12 GW (FY31) at 42.5-47.8% CAGR; Solar E-beam cables market expected to grow from ₹53.6B (FY26) to ₹266.7B (FY31) at 37.8% CAGR
Impact on Company: Positioned to capitalize on large and growing market opportunities in broadband, data centers, solar and networking cables
Management Commentary & Growth Outlook
Strategic Outlook: Expect H2 FY27 absolute performance to be broadly in line with H1 FY27; Q3 typically seasonally softer quarter; Momentum expected to improve in Q4 supported by healthy order projection and sustained demand across key segments
FY Guidance: Expect profitability to improve on year-on-year basis driven by favourable product mix, operating leverage and continued focus on operational efficiencies
Market Share Targets: Approximately 22.9% market share with Top 4 industry ranking in networking cables
Risks and Opportunities: Not Specified
Utilization of IPO Proceeds
- Utilized entire ₹155.5 Crores from IPO fresh issue proceeds for prepayment/repayment of outstanding borrowings
- Remaining IPO proceeds to be deployed towards investment in plant and machinery and general corporate purposes
Corporate Structure
- 50:50 JV with Aditya Infotech (CP PLUS) established to manufacture LAN cables, CCTV/coaxial cables, terminated assemblies, connectors and allied products
- OCL Greentech Private Limited, subsidiary incorporated in May 2025 with revenue contribution of approximately ₹0.04 crore for FY26