Dynamic Cables Limited — Earnings Release 2024

Oct 22, 2024

Naina Digitally signed by Naina Gupta Date: 2024.10.22 Gupta 18:35:14 +05'30'

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Powering Progress

 Highest Ever Half Yearly Revenue  Robust Order Book  Product portfolio expansion

October 22[nd] , 2024, Jaipur: Dynamic Cables Limited (DCL), today announced its result for Q2 & H1 FY25

Q2 Financial Performance Snapshot (YoY)

Revenue from Operations ₹ 234.1 Crs +53%		Operating Profit ₹ 23.7 Crs +78%		Operating Margin 10.15% +143bps		Profit After Tax ₹ 13.9 Crs +172%

Financial Performance:

(Rs. Crs)

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Particulars Q2FY25 Q1FY25 Q2FY24 H1FY25 H1FY24 FY24
Operating Revenue 234.1 208.5 153.5 442.7 334.8 768.0
Operating Profit 23.7 21.9 13.4 45.6 33.8 77.3
Operating Profit % 10.15% 10.49% 8.71% 10.30% 10.11% 10.06%
Finance Cost 4.5 5.0 4.7 9.5 9.1 20.7
Depreciation 2.7 2.5 2.2 5.2 4.1 9.3
Other Income 1.8 1.2 0.8 3.0 1.6 3.5
PBT 18.3 15.6 7.2 34.0 22.2 50.8
Income Tax 4.5 4.0 2.1 8.5 5.7 13.0
PAT 13.9 11.6 5.1 25.5 16.5 37.8
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Sharing insights on the results, Mr. Ashish Mangal, Managing Director of Dynamic Cables Limited commented: “We are delighted to announce our company’s sustained growth trajectory from the previous quarters and strong business visibility indicated by our record order book. We continue our commitment towards financial discipline and operational margins in our growth journey. During the quarter we have seen a good uptick in capex spending both by government and private sector derived from increased investment to keep pace with the growing power consumption. We believe that the momentum will continue in future, providing a sound long term growth opportunity for Dynamic Cables. Our capex program is on track to make use of the market opportunity. The robust order book combined with our order fulfillment capacity provides a solid foundation for sustainable growth and strong visibility into future performance.

In view of the growing transition towards renewable energy, we are happy to announce launch of Direct Current (DC) solar cables extensively used in solar power plants. Moving forward, we will continue to prioritize process optimization, capacity enhancement, and team development to drive operational excellence and support our ongoing growth strategy.”

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Key operational highlights:

• Revenue growth was ~ 32% for H1FY25 as compared to H1FY24

• Operating margins were stable @ 10.30%. for H1FY25

• Export contributed 7.4% in total revenue from operations in H1FY25. The same is expected to improve in H2.

• Receivable days (calculated on trailing 6 months gross sales) were ~ 70 days in Q2FY25 vs 80 days in Q1FY25.

• Cash Flow from Operations increased to Rs 14.87 Crs.

• Order book stands at ~Rs 595.40 Crores.

• Borrowing:

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Particulars (Rs. In Crs) 30 [th] Sep 2024 30 [th] June 2024 31 [st] March 2024
Term Loans from Banks/FIs 6.9 8.0 10.0
Other Loans 0.9 2.0 2.9
Working Capital Loans 110.0 127.6 106.2
Total On-balance sheet Debt 117.7 137.6 119.1
LC Creditors (Off- balance sheet) 43.7 53.1 60.7
Total Borrowing 161.4 190.7 179.8
Less: Cash & equivalents 107.8 82.5 31.0
Net Debt 53.6 108.2 148.8
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*Includes FDR amount of Rs 30.7 Crs earmarked against BG & LC limits

About Dynamic Cables Ltd.:

Dynamic Cables Ltd. is manufacturer of power infra cables that includes LV, HV, MV, 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.

Disclaimer:

Certain statements in this press release may be forward-looking statements and/or based on management’s current expectations and beliefs concerning future developments and their potential effects upon Dynamic Cables. The forward-looking statements are not a guarantee of future performance and involve risks and uncertainties and there are important factors that could cause actual results to differ, possibly materially, from expectations reflected in such forward-looking statements. Dynamic Cables does not intend, and is under no obligation, to update any forwardlooking statement contained in this press release.