Dynamic Cables Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 15 Jul 2026 | Industrial Products | Market Cap: ₹2.2K Cr
Dynamic Cables targets a medium to long-term revenue growth of 18% to 20% per year consistently. The company targets a long-term growth rate of 18% to 20% in revenue and earnings.
From Dynamic Cables's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹459
Market Cap
₹2.2K Cr
P/E Ratio
23.9
How does Dynamic Cables rank in Industrial Products?
Compare Dynamic Cables against every Industrial Products company this quarter on revenue, margins and earnings-call signals.
Dynamic Cables — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹355 Cr, net profit ₹24 Cr.
Full financials →📊 Revenue & Sales Performance
- →Dynamic Cables targets a medium to long-term revenue growth of 18% to 20% per year consistently.
- →The company expects to maintain roughly 1.5x industry growth rate in FY27.
- →Volume growth for core products was around 17%-18% in FY26, and management expects this to continue.
- →They plan to ramp up new greenfield capacity starting September 2026, supporting growth especially in H2 FY27.
- →Capacity utilization currently around 85%-90%, necessitating ongoing capex to sustain growth.
- →Export share aims to increase from current levels (~7%) to 10-15% medium term.
- →Growth in the first half of FY27 will be managed with existing capacity; the new plant will boost growth in the second half.
- →Commodity price volatility makes short-term forecasts uncertain, but long-term asset turnover expected around 6x.
📈 Profitability & Margins
- →The company targets a long-term growth rate of 18% to 20% in revenue and earnings.
- →Operating profit margins have historically ranged between 10.5% to 11%, reflecting disciplined execution and operational efficiency.
- →FY27 growth is expected to be supported by a new plant commencing operations from September 2026, aiding second-half growth.
- →The company does not give short-term quarterly or yearly earnings guidance but emphasizes medium to long-term steady growth.
- →Operating leverage and a better product mix have supported past profit growth, with operating profit increasing 23% in FY26.
- →Profit after tax grew by 30% in FY26, reflecting strong business momentum and prudent financial management.
- →Asset turns average around 6x, expected to continue supporting future ROCE and earnings growth.
- →Commodity price volatility is managed via price variation clauses and hedging, minimizing margin impact.
🏗️ Capital Expenditure Plans
- →Dynamic Cables undertook a greenfield capex of approximately INR 40 crores, with an expectation of 6x asset turnover.
- →The new plant is expected to go live by September 2026 (second half of FY '27), aiming for rapid ramp-up.
- →Future capex is planned but details on scale and timing remain undecided; incremental capex will support growth momentum.
- →Brownfield expansions typically require less capex compared to greenfield projects.
- →Management indicates that to sustain 18%-20% long-term growth, continuing capital expenditure yearly is necessary.
- →There might be slight additional capex related to the TS Conductor partnership, but no major investment needed as existing facilities suffice.
- →Capacity is fungible; expansions aim to meet demand, particularly in renewable and solar cables.
- →Capex intensity spiked in FY'26 due to greenfield project; FY'27 capex expected to be lower but consistent with growth needs.
💰 Fundraising & Capital Structure
- →There is no specific mention of any current or planned new fundraising through debt or equity in the transcript.
- →Management noted increased net debt is mainly due to working capital borrowings related to seasonality, not new long-term debt.
- →No clarity or definite timeline provided on capacity expansion go-live date, but capex is expected to continue year-on-year to support growth.
- →The company indicated that future capital expenditure will be moderate compared to FY26 but necessary to maintain growth.
- →No explicit statement about raising funds via equity or fresh debt issuances was made during the discussion.
- →The focus appears to be on operational ramp-up and leveraging existing financial arrangements rather than new fundraising.
📋 Order Book & Pipeline
- →As of March 31, 2026, Dynamic Cables Limited's order book stands at INR 808 crores, providing strong revenue visibility.
- →Beginning of Q4 FY26, the starting order book was around INR 790 crores.
- →Order book growth has slowed down to about 11% quarter-on-quarter.
- →The company anticipates some deferment in order booking due to sudden raw material price spikes in March 2026.
- →Market acceptance of higher raw material prices is gradually improving, leading to a pickup in order flow.
- →The company expects marginal incremental share in order book from 18% to about 20-23% in the coming periods.
- →The management does not link order book growth directly with capacity expansion delays but attributes slower order growth largely to pricing volatility and customer deferments.
Key Metrics
Continue your research
What Dynamic Cables's management said in earlier quarters
Others in Industrial Products this season
- Dhabriya Poly. (Q4 FY26)
Plan to improve capacity utilization from 50-60% to over 66% and further to 85% to reach INR450 crores revenue in profile extrusion by FY28 (Page 6, 15). Key…
- SKF India (Industrial) Ltd (Q4 FY26)
SKF India plans to invest around INR 800 crores over the next 4-5 years, mainly to set up a new Pune manufacturing plant, expanding capacity especially for…
- Vibhor Steel (Q4 FY26)
1,700 crore by FY28. Key concall takeaways from Vibhor Steel's Q4 FY26 earnings call — and how it ranks against sector peers.
- Subros Ltd (Q4 FY26)
Potential of INR 250 crores annual revenue from e-compressor at peak. Key concall takeaways from Subros's Q4 FY26 earnings call — and how it ranks against…
Frequently Asked Questions
What were Dynamic Cables Q4 FY26 results?
Dynamic Cables targets a medium to long-term revenue growth of 18% to 20% per year consistently. The company targets a long-term growth rate of 18% to 20% in revenue and earnings.
What is Dynamic Cables share price analysis?
Dynamic Cables currently shows a neutral. The stock trades at a P/E of 23.9 with a market cap of ₹2,182 Cr. Investors should review the full earnings analysis for detailed insights.
Is Dynamic Cables planning capital expenditure?
Dynamic Cables undertook a greenfield capex of approximately INR 40 crores, with an expectation of 6x asset turnover.
Keep Dynamic Cables on your radar — track it to get its next earnings analysis in your feed.
This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.