Any current/future new fundraising through debt or equity?

There is no explicit mention of any current or upcoming fundraising through debt or equity in the transcript. Management discussed existing borrowings related primarily to working capital, with all term liabilities fully paid off. CAPEX focus is on new greenfield plant and debottlenecking, funded internally with Rs.40-50 crores planned for the full year. No statements about raising external funds via debt or equity were made. Management prefers organic growth funded through operational cash flows and CAPEX rather than external fundraising at this time.

Any current/future capex/capital investment/strategic investment?

The company has completed debottlenecking CAPEX of around Rs.15 crores, mostly done last year and some in H1 FY26. (Page 8, 11) A new greenfield plant is under development with a CAPEX of about Rs.35 crores, expected to go live by end of H2 FY26 and contribute from next financial year. (Pages 8, 11, 14) Total CAPEX for FY26 is estimated around Rs.40-50 crores, with Rs.25 crores already spent in H1 and Rs.15-20 crores expected in H2. (Page 12) The new plant will have fungibility to manufacture solar DC cables and other specialty cables, aiding growth in renewable energy segments. (Pages 6, 11)

Future growth expectations in sales/revenue/volumes?

Dynamic Cables targets a long-term growth rate of around 20% CAGR, aiming to outperform industry growth by 1.5x. H2 is traditionally stronger, with expectations of a pickup in execution and order flow post extended monsoon and festival impacts. Volume growth for H1 was around 20-23%, with revenue growth aligned approximately with volume growth. Capacity expansions, including a new plant commissioning by end of FY26, are expected to support revenue increases; the new plant aims for asset turnover of ~6x investment. Solar cables and smart metering cables are key growth areas expected to

Future growth expectations in earnings/operating earnings/profits/EPS?

Dynamic Cables Limited targets a long-term CAGR growth of around 20%, aiming to outpace industry growth by 1.5x. The company expects growth driven by private sector demand, renewable energy (especially solar cables), and smart metering segments. Capacity expansion with a new plant commissioning by H2 FY26 is expected to drive incremental revenues of Rs.200-250 crores. Operating margins are stable around 10%, with management focusing on cost management and operational excellence. EBITDA margin typically remains around 10%, with limited quarter-to-quarter variation. Volume growth in recent quart

Current/ Expected Orderbook/ Pending Orders?

As of September 30, 2025, Dynamic Cables Limited's order book stands at INR 721 crores, providing strong revenue visibility. The order book has remained relatively flat around Rs. 720-730 crores over the past three quarters, indicating no significant growth. The flat order book growth is attributed to execution delays by EPC players caused by an extraordinary monsoon period, affecting project progress and new order placements. Demand inflow has remained consistent in the current quarter across key segments like power distribution, smart metering, renewable energy, and specialty cables. There i

Dynamic Cables LtdQ2 FY26Industrial Products

Dynamic Cables Ltd Q2 FY26 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹409P/E: 21.7Market Cap: ₹2.0K CrSector: Industrial Products

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

N/A

Order

Capex

Yes

1 of 4 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

Dynamic Cables targets a long-term growth rate of around 20% CAGR, aiming to outperform industry growth by 1.5x.
H2 is traditionally stronger, with expectations of a pickup in execution and order flow post extended monsoon and festival impacts.
Volume growth for H1 was around 20-23%, with revenue growth aligned approximately with volume growth.
Capacity expansions, including a new plant commissioning by end of FY26, are expected to support revenue increases; the new plant aims for asset turnover of ~6x investment.
Solar cables and smart metering cables are key growth areas expected to contribute more, with potential solar cable mix rising from ~12% toward 20%.
Focus on increasing private sector and export contributions while reducing government business share.
Order book stands at Rs.721 crores as of September 2025, providing strong revenue visibility.

Margin guidance

Category 3

Dynamic Cables Limited targets a long-term CAGR growth of around 20%, aiming to outpace industry growth by 1.5x.
The company expects growth driven by private sector demand, renewable energy (especially solar cables), and smart metering segments.
Capacity expansion with a new plant commissioning by H2 FY26 is expected to drive incremental revenues of Rs.200-250 crores.
Operating margins are stable around 10%, with management focusing on cost management and operational excellence.
EBITDA margin typically remains around 10%, with limited quarter-to-quarter variation.
Volume growth in recent quarters has been around 20-23%, with revenue expected to align closely with volume growth.
Execution pick-up post-monsoon and festival season anticipated to accelerate order flow and growth in H2 FY26.
Overall, management optimistic about strong numbers and sustained profit growth in coming quarters.

See what Dynamic Cables Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

There is no explicit mention of any current or upcoming fundraising through debt or equity in the transcript.
Management discussed existing borrowings related primarily to working capital, with all term liabilities fully paid off.
CAPEX focus is on new greenfield plant and debottlenecking, funded internally with Rs.40-50 crores planned for the full year.
No statements about raising external funds via debt or equity were made.
Management prefers organic growth funded through operational cash flows and CAPEX rather than external fundraising at this time.

Order book

As of September 30, 2025, Dynamic Cables Limited's order book stands at INR 721 crores, providing strong revenue visibility.
The order book has remained relatively flat around Rs. 720-730 crores over the past three quarters, indicating no significant growth.
The flat order book growth is attributed to execution delays by EPC players caused by an extraordinary monsoon period, affecting project progress and new order placements.
Demand inflow has remained consistent in the current quarter across key segments like power distribution, smart metering, renewable energy, and specialty cables.
There is a healthy order book in smart metering and renewable energy segments expected to support future growth.
The company anticipates order inflow and project execution to pick up strongly in the third and fourth quarters post-monsoon and festival season.

See what Dynamic Cables Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

The company has completed debottlenecking CAPEX of around Rs.15 crores, mostly done last year and some in H1 FY26. (Page 8, 11)
A new greenfield plant is under development with a CAPEX of about Rs.35 crores, expected to go live by end of H2 FY26 and contribute from next financial year. (Pages 8, 11, 14)
Total CAPEX for FY26 is estimated around Rs.40-50 crores, with Rs.25 crores already spent in H1 and Rs.15-20 crores expected in H2. (Page 12)
The new plant will have fungibility to manufacture solar DC cables and other specialty cables, aiding growth in renewable energy segments. (Pages 6, 11)
No further CAPEX allocated for debottlenecking as it is completed. (Page 10)
Potential for Brownfield expansion exists since only 50% of land acquired is currently used. (Page 9)
Long-term focus includes expanding specialty cable segments and potential future entry into EHV cables, although not immediate. (Pages 6, 9)

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Dynamic Cables Ltd Q2 FY26 Earnings Call Analysis

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What Dynamic Cables Ltd's management said in earlier quarters

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