Dynamic Cables Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,542 Cr
- P/E
- 16.90
- ROE
- 19.92%
- PEG
- 0.44
- Price to sales
- 1.20
- Debt to equity
- 0.09
- 52W high / low
- ₹544 / ₹241
- Sales growth (5Y)
- 28.44%
- EBITDA margin
- 10.94%
- Net profit margin
- 6.91%
- Promoter holding
- 68.18%
- Sales (last year)
- ₹1,285 Cr
Guidance scorecard · Q2 FY27 call
What Dynamic Cables's management guided
RevenueQ1 FY27 call
10–20%- Targeting long-term growth rate of 18%-20% annually, continuing past performance over 10-15 years.
- Volume growth for cables and conductors in Q1 was 5%-6%; expected to improve as raw material price volatility settles.
- New plant commissioning planned for September 2026, with meaningful revenue contribution expected from Q4 FY27.
- New plant utilization targeted at 80%-85% by end of FY28, contributing significantly to revenue.
- Solar cables segment currently contributes ~20% of revenue, expected to maintain or increase especially with new capacity.
- Entry into US export market seen as a major long-term growth driver, though early stage with margins similar to domestic markets.
- Expansion in high-growth segments like data center cables and HTLS conductors planned, leveraging fungible capacity without major capex.
2 more points from Dynamic Cables's call on revenue
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MarginsQ1 FY27 call
FlatSee what Dynamic Cables said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- New plant commissioning planned for September 2026 with a capex of around INR 45 crores.
- The new plant aims for 80-85% utilization by end of FY28, contributing meaningful revenue from Q4 FY27 onwards.
- Most capex for high-growth areas like HTLS conductors and data center cables is fungible, leveraging existing machinery with minor add-ons.
- Brownfield expansion opportunities exist within the new greenfield plant.
2 more points from Dynamic Cables's call on capex
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FundraisingQ1 FY27 call
See what Dynamic Cables said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Flat- As of June 30, 2026, Dynamic Cables Limited's order book stands at INR 811 crores, providing strong revenue visibility.
- The order book composition is approximately 68% HV cables, 30% LV cables, and 2% conductors.
- The order book growth year-on-year is around 10%, considered weak despite aluminum price increases.
- Customers showed reluctance to book orders at elevated aluminum prices, especially for projects scheduled 5-8 months out.
- Near-term orders (to be executed within 2-4 months) are being booked, but longer-term orders are being postponed.
2 more points from Dynamic Cables's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
This quarter's potential multibaggers
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Dynamic Cables announcements
All announcements →- Capex / expansionNotableDynamic Cables Limited installs plant and machinery at new manufacturing facility
Financials of Dynamic Cables
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Dynamic Cables
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 74.45% | 74.47% | 68.17% | 68.17% | 68.17% | 68.18% | 68.18% | 68.18% | 68.18% | 68.18% | 68.18% | 68.18% |
| FIIs + | 0.08% | 0.03% | 0.39% | 0.32% | 1.19% | 1.08% | 1.27% | 0.55% | 0.53% | 0.90% | 0.67% | 0.87% |
| DIIs + | 0.08% | 0.07% | 2.34% | 2.06% | 2.45% | 2.17% | 1.62% | 1.57% | 1.03% | 1.27% | 0.98% | 0.75% |
| Public + | 25.37% | 25.44% | 29.09% | 29.43% | 28.19% | 28.58% | 28.93% | 29.69% | 30.25% | 29.65% | 30.17% | 30.19% |
| No. of Shareholders | 37,160 | 36,635 | 38,043 | 36,551 | 43,244 | 44,900 | 45,876 | 51,549 | 52,771 | 48,957 | 51,019 | 56,798 |
Financials of Dynamic Cables
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 154 | 192 | 241 | 209 | 234 | 252 | 331 | 262 | 282 | 299 | 355 | 349 | 363 |
| Expenses + | 140 | 174 | 215 | 187 | 210 | 226 | 297 | 235 | 251 | 265 | 318 | 311 | 327 |
| Operating Profit | 13 | 18 | 25 | 22 | 24 | 26 | 34 | 27 | 31 | 34 | 38 | 38 | 36 |
| OPM % | 9% | 9% | 11% | 10% | 10% | 10% | 10% | 10% | 11% | 11% | 11% | 11% | 10% |
| Other Income + | 1 | 1 | 1 | 1 | 2 | 2 | 1 | 3 | 1 | 2 | 1 | 1 | 1 |
| Interest | 5 | 6 | 5 | 5 | 5 | 4 | 2 | 3 | 3 | 3 | 3 | 3 | 4 |
| Depreciation | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Profit before tax | 7 | 10 | 18 | 16 | 18 | 21 | 31 | 24 | 26 | 30 | 32 | 33 | 30 |
| Tax % | 30% | 27% | 25% | 26% | 24% | 25% | 23% | 25% | 25% | 25% | 25% | 25% | 25% |
| Net Profit + | 5 | 8 | 14 | 12 | 14 | 16 | 24 | 18 | 20 | 22 | 24 | 25 | 22 |
| EPS in Rs | 1.16 | 1.71 | 3.13 | 2.39 | 2.86 | 3.26 | 4.86 | 3.75 | 4.05 | 4.63 | 4.99 | 5.15 | 4.57 |
Financials of Dynamic Cables
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 260 | 268 | 300 | 357 | 527 | 429 | 343 | 564 | 669 | 768 | 1,025 | 1,198 | 1,367 |
| Expenses + | 251 | 247 | 281 | 337 | 478 | 384 | 317 | 504 | 606 | 691 | 920 | 1,068 | 1,220 |
| Operating Profit | 9 | 21 | 19 | 20 | 48 | 45 | 26 | 60 | 63 | 77 | 105 | 130 | 146 |
| OPM % | 3.6% | 8% | 6% | 5% | 9% | 11% | 7% | 11% | 9% | 10% | 10% | 11% | 11% |
| Other Income + | 2 | 2 | 5 | 3 | 6 | 3 | 8 | 3 | 3 | 3 | 6 | 7 | 5 |
| Interest | 5 | 10 | 9 | 9 | 13 | 15 | 12 | 13 | 16 | 21 | 15 | 11 | 13 |
| Depreciation | 2 | 2 | 2 | 2 | 8 | 9 | 8 | 8 | 8 | 9 | 11 | 12 | 13 |
| Profit before tax | 4 | 10 | 12 | 11 | 33 | 24 | 13 | 42 | 42 | 51 | 86 | 113 | 125 |
| Tax % | 30% | 32% | 35% | 35% | 35% | 24% | 26% | 26% | 26% | 26% | 24% | 25% | |
| Net Profit + | 3 | 7 | 8 | 7 | 21 | 18 | 10 | 31 | 31 | 38 | 65 | 84 | 94 |
| EPS in Rs | 0.85 | 2.27 | 2.47 | 1.69 | 4.82 | 4.14 | 2.24 | 7.02 | 7.05 | 8.58 | 13.36 | 17.43 | 19.34 |
| Dividend Payout % | 0% | 0% | 0% | 7% | 3% | 3% | 6% | 4% | 4% | 3% | 2% | 3% |
Financials of Dynamic Cables
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 11 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 24 | 48 | 48 |
| Reserves | 10 | 17 | 31 | 49 | 70 | 86 | 95 | 126 | 155 | 192 | 350 | 409 | 454 |
| Borrowings + | 49 | 92 | 86 | 131 | 133 | 122 | 118 | 77 | 82 | 119 | 59 | 43 | 41 |
| Other Liabilities + | 64 | 42 | 48 | 36 | 68 | 69 | 62 | 125 | 144 | 165 | 157 | 182 | 196 |
| Total Liabilities | 133 | 161 | 176 | 238 | 292 | 299 | 297 | 350 | 403 | 499 | 589 | 683 | 739 |
| Fixed Assets + | 18 | 19 | 18 | 56 | 58 | 56 | 55 | 53 | 56 | 63 | 84 | 97 | 108 |
| CWIP | 0 | 0 | 10 | 0 | 0 | 0 | 0 | 0 | 3 | 7 | 0 | 33 | 34 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 44 | 31 | 1 |
| Other Assets + | 115 | 142 | 148 | 182 | 234 | 243 | 242 | 297 | 345 | 428 | 462 | 523 | 596 |
| Total Assets | 133 | 161 | 176 | 238 | 292 | 299 | 297 | 350 | 403 | 499 | 589 | 683 | 739 |
Financials of Dynamic Cables
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 10 | -39 | 22 | -23 | 18 | 40 | 17 | 64 | 27 | 1 | 56 | 62 |
| Cash from Investing Activity + | -1 | -3 | -14 | -31 | -9 | -8 | -6 | -9 | -16 | -16 | -76 | -32 |
| Cash from Financing Activity + | 2 | 33 | -6 | 52 | -9 | -32 | -11 | -55 | -12 | 15 | 19 | -30 |
| Net Cash Flow | 11 | -9 | 2 | -2 | 0 | -0 | 0 | -0 | 0 | 0 | -0 | 0 |
| Free Cash Flow | 9 | -42 | 11 | -54 | 8 | 33 | 10 | 58 | 14 | -20 | 32 | 4 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 118% | -175% | 140% | -106% | 52% | 103% | 76% | 126% | 62% | 18% | 73% | 69% |
Financials of Dynamic Cables
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 86 | 99 | 102 | 100 | 107 | 128 | 136 | 103 | 113 | 121 | 84 | 88 |
| Inventory Days | 43 | 77 | 52 | 57 | 43 | 58 | 110 | 75 | 58 | 74 | 66 | 65 |
| Days Payable | 92 | 61 | 56 | 33 | 49 | 68 | 67 | 96 | 88 | 89 | 60 | 60 |
| Cash Conversion Cycle | 36 | 115 | 99 | 124 | 101 | 117 | 179 | 82 | 83 | 106 | 90 | 93 |
| Working Capital Days | 9 | 35 | 40 | 53 | 46 | 66 | 76 | 59 | 53 | 56 | 74 | 82 |
| ROCE % | 22% | 17% | 13% | 21% | 17% | 11% | 24% | 24% | 24% | 26% | 26% |
Guidance history
How Dynamic Cables's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | — | Flat |
| Q4 FY26 call → | 10–20% | Flat | Planned | — | Flat |
| Q3 FY26 call → | 10–20% | Flat | Planned | — | Rising |
| Q2 FY26 call → | 10–20% | Flat | Planned | — | Flat |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
16 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −21.6% | 36% |
| Last 6 months | −14.1% | 32% |
| Last 3 months | −19.5% | 23% |
The price is 41.5% below its all-time high of ₹544.3 (3 Sept 2026). Stocks more than 20% below their peak have their score halved, so 32 became 16.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Dynamic Cables: 0.4 × 36 + 0.4 × 32 + 0.2 × 23 = 32, halved to 16 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.