Dynamic Cables Reports PAT growth of 59% on the back of Robust Performance
Jaipur (Rajasthan) [India], August 3: Dynamic Cables Limited (DCL), a Jaipur based leading power cable manufacturer reported sales of Rs 181.3 Crs for Q1 FY24, growth of 15% over Q1 FY23. Company reported an EBITDA of Rs 20.5 Crs and PAT of Rs 11.4 Crs during the quarter, up 44% and 59% on YoY basis respectively. During Q1 the EBITDA margin was at 11.3% as compared to 10.6% in previous quarter and 9.0% in the same quarter previous year. The management guided that favorable macro-economic environment along with supportive structural measures, increase in private capex, import substitution and opening up of export markets is driving the healthy demand for their product range. Witnessing an uptick in capex spends by both government and private sector, company anticipates strong growth momentum to continue in future as well. Company posted healthy order book of Rs 394 Crs as on 30th June 2023.
Commenting on the results, Mr. Ashish Mangal, Managing Director of Dynamic Cables Limited said: “We are delighted to report strong performance in the first quarter of FY 2023-24. The growth was driven by healthy demand for our products across domestic and export markets. This robust performance is a testament to the dedication and hard work of our entire team, as well as the unwavering support of our valued customers and partners. We have relentlessly focused on optimizing our resources, streamlining processes, and enhanced productivity across all levels of our organization which has resulted in a 360-degree growth for the company. Going forward we foresee a healthy business environment and long-term demand growth for power cables driven by multiple macro tailwinds.”
About Dynamic Cables Ltd.:
Dynamic Cables Ltd. is manufacturer of power infra cables that includes LV, HV, MV, EHV, Power control & instrumentation cables, and signaling cables. It supplies cables to Government Discoms, Private Distribution companies, Private EPC contractors, industrial and Export clients. Company has 3 manufacturing plants are situated at Jaipur and Reengus. Business operations are managed through corporate office in Jaipur and 5 regional sales offices across India.
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