Home / Companies / Company Results /  High promoter holding stock records highest ever nine months revenue in FY23

Small-cap firm Dynamic Cables Ltd operates in the industrial sector and has a market valuation of 443.80 Cr. Dynamic Cables is present throughout India and many other countries. has a broad range of products that serve the infrastructure, industrial, export, and energy industries. Today, the company released strong Q3 earnings.

In Q3FY23, the company reported revenue from operations of 158.80 Cr compared to 143.09 Cr in Q3FY22, representing a YoY growth of 10.97%, whereas Jaipur-based leading power cable manufacturer posted sales of 490.2 Crs for 9MFY23 which is the highest ever nine months revenue up by 25.4% YoY. The company's net expenses stood at 150.11 Cr in the quarter ended December 2022 compared to 132.09 Cr in the year-ago quarter whereas its profit before tax (PBT) reached 9.15 Cr in Q3FY23 compared to 11.95 Cr in Q3FY22, representing a fall of 23.43% YoY. The net profit of Dynamic Cables stood at 6.63 Cr in Q3FY23 compared to 9.09 Cr in Q3FY22, representing a fall of 27.06% YoY. The EPS of Dynamic Cables stood at 3.02 in Q3FY23 against 4.13 in Q3FY22.

In the Sept. - Oct. 2022 edition of Wire & Cable India Magazine, Dynamic Cables was featured and it was also awarded the Pride of India Brands Award on January 19, 2023, which was conducted by the exchange 4 media agency. The firm received the title for its leadership, tactical success, creativity, and ongoing innovation in its products, processes, and marketing strategies as well as for its contribution to the New Bharat economy upon being awarded Pride of India Brands-The Best of North.

Dynamic cables said in a BSE filing that its management has guided that the growth momentum will continue on the back of healthy demand scenario and the headwind of raw material price volatility due to increasing geopolitical tensions is behind us as such the margins are returning to normalcy and with satisfactory progress towards development of new products, there will be further improvement in the margins.

Commenting on the development, Mr. Ashish Mangal, Managing Director of Dynamic Cables Limited said: “We are delighted to report that we have sustained our growth and were able to deliver highest ever nine months revenue in company’s history. The growth was backed by our strong execution capabilities and healthy demand scenario in the domestic market. Going forward we believe government continuous thrust towards infrastructure development and uptick in private capex will provide a mid to long term growth pathway for us. Also, it is a great honor to receive Pride of India Award, 2023. This award is a testimony of our hard work and commitment towards building our brand."

The shares of Dynamic Cables Ltd closed today at 201.60 apiece level on the BSE, down by 0.93% from the previous close of 203.50. The stock touched a 52-week-high of 225.55 on (04/01/2023) and a 52-week-low of 93.00 on (23/06/2022). For the quarter ended December or Q3FY23, the company posted a promoter shareholding of 74.41%, FIIs stake of 0.28%, and public stake of 25.30%. The promoter stake of Dynamic Cables at the current level is much higher than its peers such as Polycab India, KEI Industries, Finolex Cables, Universal Cables, and Paramount Communications.

Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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