Dynamic Cables reports highest ever revenue in 9 months of FY23
Dynamic Cables has reported sales of Rs 158.8 crore in the third quarter and Rs 490.2 crore in the first 9 months of FY23, with a growth of 11 per cent and 25.4 per cent YoY, respectively.
Small-cap firm Dynamic Cables has reported the highest ever revenue in the first 9 months of any fiscal. According to an exchange filing, the company has reported sales of Rs 158.8 crore in the third quarter and Rs 490.2 crore in the first 9 months of FY23, with a growth of 11 per cent and 25.4 per cent YoY, respectively.
Jaipur-based Dynamic Cables is a leading power cable manufacturer. The company's 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 geo political tensions is behind.
"The margins are returning to normalcy and with satisfactory progress towards development of new products, there will be further improvement in the margins," the management said in a statement.
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Ashish Mangal, MD, Dynamic Cables, said that the company has delivered the highest ever revenue in nine months. "The growth was backed by strong execution capabilities and healthy demand scenario in the domestic market," he said.
Going forward, he said that the company is hopeful that the government's continuous thrust towards infrastructure development and uptick in private capex will provide a mid to long term growth pathway.
Dynamic Cables is manufacturer of power infra cables, flexible and industrial cables, solar cables and railway signaling cables. It supplies cables to government discoms, private distribution companies and others. The company has 3 manufacturing plants in Jaipur and Reengus (Sikar).
Dynamic Cables shares have yielded a positive return of 30 per cent in the last 1 year. It has a market cap of Rs 390.20 crore.
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