Cords Cable Industries Limited (CORDSCABLE)
₹304.00 -1.03% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Cords Cable's revenue was ₹247 Cr (+9.5% year on year, -7.4% on the previous quarter), and net profit ₹7.8 Cr (+101.7% year on year); the operating margin was 6.1%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹247 | +9.5% | -7.4% |
| Operating profit | ₹15.1 | +10.6% | -6.4% |
| Net profit | ₹7.8 | +101.7% | -5.8% |
| EPS (₹) | 6.01 | +102.4% | -6.1% |
| Operating margin | 6.1% | — | — |
CORDSCABLE exchange data
NSE end-of-day data for
It closed at a price band (circuit) on 9 sessions in about the last 20.
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
CARE Ratings has upgraded Cords Cable Industries Limited's credit ratings across both long-term and short-term bank facilities. Long-term bank facilities have been upgraded to 'CARE BBB+; Stable' from 'CARE BBB; Stable', indicating a moderate degree of safety and lower credit risk. Short-term facilities have been upgraded to 'CARE A3+' from 'CARE A3'. This reflects an improved credit profile, supporting the company's borrowing capability against its existing debt of Rs 103 Cr.
- Long-term bank facilities upgraded from CARE BBB; Stable to CARE BBB+; Stable
- Short-term bank facilities upgraded from CARE A3 to CARE A3+
- Outlook on long-term rating remains Stable
- Company holds debt of Rs 103 Cr with a D/E ratio of 0.51 as per context
Cords Cable Industries Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was provided by the company's Registrar and Share Transfer Agent, MUFG Intime India Private Limited. It confirms that share certificates received for dematerialisation during the period were processed and listed appropriately. This is a periodic, standard administrative filing with no financial impact.
- Compliance certificate submitted under Regulation 74(5) of SEBI Regulations, 2018
- Pertains to the quarter ended September 30, 2026
- Issued by RTA MUFG Intime India Private Limited (formerly Link Intime India Private Limited)
Cords Cable Industries Limited released the minutes of its 35th Annual General Meeting held on September 28, 2026. Shareholders approved a final dividend of 12% (Rs 1.20 per equity share) totaling Rs 1.55 crore for FY26 alongside adopting audited financial statements. However, two resolutions (Item Nos. 8 and 9) were not passed, including a related-party remuneration proposal for Dearness Allowance to VP Gaurav Sawhney which saw 58.19% votes polled against it after promoters were abstained.
- Declared final dividend of Rs 1.20 per share (12%) aggregating to Rs 1.55 crore on 1,29,27,780 equity shares
- Resolutions 1 to 10 passed with requisite majority, except Resolution No. 8 and Resolution No. 9 which failed
- Resolution No. 9 on related-party Dearness Allowance for VP Mr. Gaurav Sawhney rejected with 58.19% votes cast against (promoters abstained)
- Total attendance stood at 170 members (5 promoter group, 165 public) out of 20,875 total members as of record date September 21, 2026
Cords Cable Industries has submitted the Scrutinizer's Report for its 35th Annual General Meeting held on September 28, 2026. Shareholders approved an ordinary resolution declaring a 12% final dividend of Rs 1.20 per equity share (face value Rs 10) with 100% of votes cast in favor. However, two ordinary resolutions regarding Dearness Allowance (DA) payments to related parties Mr. Varun Sawhney and Mr. Gaurav Sawhney failed, receiving 58.19% votes against (1,66,456 votes against vs 1,19,620 votes in favor) with promoter entities abstaining.
- Final dividend of 12% (Rs 1.20 per equity share of face value Rs 10) approved unanimously (100% votes in favor across 70,66,218 total votes cast)
- Appointment of M/s GVKN & Associates as Statutory Auditors approved with 100% favoring votes
- DA payment proposals for Mr. Varun Sawhney and Mr. Gaurav Sawhney were defeated, garnering 58.19% against votes (1,66,456 votes against vs 1,19,620 votes in favor)
- Promoter and Promoter Group abstained from voting on the two related-party DA resolutions, leading to 67,80,148 invalid/abstained votes
Cords Cable Industries Limited has notified stock exchanges of the closure of its trading window starting October 1, 2026. The restriction applies to directors, designated employees, insiders, and their immediate relatives pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015. The trading window will reopen 48 hours after the declaration and publication of the un-audited financial results for the second quarter and half-year ending September 30, 2026.
- Trading window closure begins on Thursday, October 1, 2026
- Pertains to un-audited financial results for the 2nd quarter and 6 months ended September 30, 2026
- Trading window reopens 48 hours after financial results are made public
Cords Cable Industries Limited submitted a formal clarification to the National Stock Exchange regarding recent significant movement in its share price. The company confirmed that it is fully compliant with SEBI (LODR) Regulations, 2015 and has reported all material events. It explicitly stated that there is no unpublished price-sensitive information or impending corporate actions driving the scrip's price/volume activity, attributing the movement entirely to market dynamics.
- Responded to NSE surveillance letter ref no. NSE/CM/Surveillance/17465 dated September 02, 2026
- Confirmed on September 03, 2026 that no undisclosed price-sensitive information or material events exist
- Clarified that recent price and volume movements are driven by general market dynamics beyond company control
Cords Cable Industries has published its Annual Report and notice for the 35th Annual General Meeting (AGM) scheduled for September 28, 2026. The cut-off date for e-voting entitlement is September 21, 2026, with the electronic voting window open from September 25 to September 27, 2026. The full-year FY26 financial statements within the report show a net profit of ₹20.64 crore compared to ₹14.67 crore in FY25, yielding a basic EPS of ₹15.88 versus ₹11.25 in the previous year.
- 35th AGM convened on Monday, September 28, 2026, at ISKCON, New Delhi.
- Record date / cut-off date for e-voting set for September 21, 2026.
- Remote e-voting window spans from September 25, 2026 (09:30 AM) to September 27, 2026 (5:00 PM) for 9 agenda resolutions.
- FY26 profit after tax reported at ₹2,064.33 lakhs (₹20.64 Cr) vs ₹1,466.99 lakhs in FY25.
- FY26 basic and diluted EPS stood at ₹15.88 per share compared to ₹11.25 per share in FY25.
Cords Cable Industries reported a strong start to FY27, with Q1 revenue growing 20.5% YoY to ₹271.99 Cr. Net profit more than doubled to ₹7.80 Cr from ₹3.87 Cr in the year-ago period, reflecting improved operational efficiency. The company also announced a dividend with a record date of September 21, 2026, and recommended the appointment of M/s GVKN & Associates as statutory auditors for a five-year term. The results show a significant jump in EPS to ₹6.01 from ₹2.97 YoY.
- Revenue from operations increased 20.5% YoY to ₹271.99 Cr for the quarter ended June 30, 2026.
- Net profit surged 101.5% YoY to ₹7.80 Cr, up from ₹3.87 Cr in Q1 FY26.
- Basic and Diluted EPS rose to ₹6.01 compared to ₹2.97 in the corresponding previous quarter.
- Board recommended M/s GVKN & Associates as new Statutory Auditors for a 5-year term (35th to 40th AGM).
- Dividend record date fixed for September 21, 2026, with payment to be completed by October 27, 2026.
Cords Cable Industries reported a strong start to FY27, with Q1 revenue growing 20.5% YoY to ₹271.99 Cr. Net profit surged 101.5% to ₹7.80 Cr, compared to ₹3.87 Cr in the same quarter last year, reflecting significant margin expansion. The company also announced a change in statutory auditors to M/s GVKN & Associates for a five-year term and set September 21, 2026, as the record date for a proposed dividend.
- Revenue from operations grew to ₹271.99 Cr in Q1 FY27 from ₹225.70 Cr in Q1 FY26.
- Net profit for the quarter increased by 101.5% YoY to ₹7.80 Cr.
- Earnings Per Share (EPS) rose to ₹6.01 from ₹2.97 in the year-ago period.
- New statutory auditors, M/s GVKN & Associates, appointed for a 5-year term starting from the 35th AGM.
- Record date for dividend payment fixed as September 21, 2026, with payment by October 27, 2026.
Cords Cable Industries reported a strong performance for Q1 FY27, with revenue from operations growing 20.5% YoY to ₹271.99 cr. Net profit more than doubled to ₹7.80 cr compared to ₹3.87 cr in the same quarter last year, reflecting significant margin improvement. The company has scheduled its 35th AGM for September 28, 2026, and fixed September 21, 2026, as the record date for dividend payments. Additionally, the board recommended appointing M/s GVKN & Associates as statutory auditors for a five-year term.
- Revenue from operations increased 20.5% YoY to ₹271.99 cr from ₹225.70 cr.
- Net profit surged 101.5% YoY to ₹7.80 cr for the quarter ended June 30, 2026.
- Earnings Per Share (EPS) improved to ₹6.01 from ₹2.97 in the year-ago period.
- Total expenses for the quarter were ₹260.73 cr, with raw material consumption at ₹251.99 cr before inventory adjustments.
- Record date for dividend and AGM voting eligibility set for September 21, 2026.
Cords Cable Industries reported a strong performance for Q1 FY27, with revenue growing 20.5% YoY to ₹271.99 Cr. Net profit more than doubled to ₹7.80 Cr from ₹3.87 Cr in the same quarter last year, reflecting significant margin improvement. The company has fixed September 21, 2026, as the record date for its dividend. Additionally, a new statutory auditor has been appointed for a five-year term, and the AGM is scheduled for September 28, 2026.
- Revenue from operations increased 20.5% YoY to ₹271.99 Cr in Q1 FY27 compared to ₹225.70 Cr in Q1 FY26.
- Net profit (PAT) surged 101.5% YoY to ₹7.80 Cr for the quarter ended June 30, 2026.
- Record date for the purpose of dividend and AGM participation is fixed as September 21, 2026.
- Total expenses rose by 17.9% to ₹260.73 Cr, growing slower than revenue, aiding profit margins.
- Order book of approximately ₹260 Cr is targeted for execution within FY26.
Cords Cable Industries reported a strong start to FY27, with Q1 revenue growing 20.5% YoY to ₹271.99 Cr. Net profit more than doubled to ₹7.80 Cr from ₹3.87 Cr in the year-ago period, reflecting significant margin improvement. The company also announced a dividend (subject to AGM approval) with a record date of September 21, 2026. Additionally, the board has recommended the appointment of M/s GVKN & Associates as new statutory auditors for a five-year term.
- Revenue from operations increased 20.5% YoY to ₹271.99 Cr from ₹225.70 Cr.
- Net profit surged 101.5% YoY to ₹7.80 Cr compared to ₹3.87 Cr in Q1 FY26.
- Earnings Per Share (EPS) rose to ₹6.01 from ₹2.97 in the corresponding previous quarter.
- Record date for dividend and AGM participation set for September 21, 2026.
- New statutory auditor M/s GVKN & Associates appointed for a 5-year term starting from the 35th AGM.
Cords Cable Industries Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended June 30, 2026. The document, issued by Registrar and Share Transfer Agent (RTA) MUFG Intime India Private Limited, confirms that share certificates received for dematerialization were processed and the underlying securities were listed on the stock exchanges. This is a standard procedural filing required by all listed companies in India to ensure the integrity of the dematerialization process. There are no financial implications or operational updates contained in this announcement.
- Compliance certificate issued for the quarter ended June 30, 2026
- Confirmation provided by RTA MUFG Intime India Private Limited (formerly Link Intime)
- Confirms that securities received for dematerialization were listed on the NSE and BSE
- Filing completed on July 6, 2026, in accordance with SEBI timelines
Cords Cable Industries has recommended a dividend of Rs 1.20 per equity share (12% of face value) for the financial year ended March 31, 2026. The company has outlined Tax Deduction at Source (TDS) procedures, requiring shareholders to submit necessary tax exemption forms or DTAA documents by August 31, 2026. Resident individuals with a valid PAN will face a 10% TDS if their total dividend exceeds Rs 10,000, while those without a valid PAN will be taxed at 20%. This follows the board's recommendation on May 28, 2026, and remains subject to shareholder approval at the upcoming AGM.
- Recommended dividend of Rs 1.20 per equity share, representing 12% of the Rs 10 face value
- TDS exemption threshold of Rs 10,000 for resident individual shareholders with valid PAN
- Deadline of August 31, 2026, for submitting tax-related declarations (Form 121/15G/15H)
- Standard TDS rate of 10% for residents with PAN and 20% for non-residents (plus surcharge/cess)
- Improved inventory turnover ratio of 11.22x in FY25 vs 9.53x in FY24 noted in company context
Cords Cable Industries Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015. This closure is a standard procedure preceding the declaration of un-audited financial results for the quarter ending June 30, 2026. The restriction applies to directors, designated employees, and their immediate relatives, and will remain in effect until 48 hours after the results are made public.
- Trading window closure begins on July 1, 2026
- Pertains to the un-audited financial results for the quarter ending June 30, 2026
- Window remains closed until 48 hours after the results are officially declared
- Company targets an order book of ~INR 260.00 Cr for execution in FY26
Financial Performance
Revenue Growth by Segment
Total Operating Income (TOI) grew by 26.5% YoY to reach INR 794.56 Cr in FY25, up from INR 627.99 Cr in FY24. The growth is driven by a 3-year CAGR of ~23%. Segmental contribution consists of Solar Cables (35%), Low Tension (LT) Power Cables (35%), and Instrumentation & Control Cables (30%).
Geographic Revenue Split
Not specifically disclosed by percentage, but the company is expanding into new domestic markets and segments, with a focus on Indian PSUs in the oil and hydrocarbon sectors.
Profitability Margins
Net Profit Margin improved to 1.85% in FY25 from 1.60% in FY24. However, PBILDT margins declined to 6.22% in FY25 from 6.62% in FY24 due to a shift in product mix toward lower-margin Power Cables, which now account for ~50% of revenue over the last three years.
EBITDA Margin
PBILDT margin stood at 6.22% in FY25, a decrease of 40 basis points from 6.62% in FY24. This compression is attributed to limited bargaining power with large clients and competitive pricing strategies to gain market share.
Capital Expenditure
The company has no significant capital expenditure plans envisaged for the near term as of late 2024; however, it maintains a gearing headroom with a current ratio of 1.53x to support future debt-funded expansion if required.
Credit Rating & Borrowing
Long-term bank facilities are rated CARE BBB; Stable and short-term facilities at CARE A3 (reaffirmed Oct 2025). Interest coverage ratio stood at 1.96x in FY25, improving from 1.69x in FY24.
Operational Drivers
Raw Materials
Primary raw materials include copper, aluminum, and various polymers/PVC (implied by cable manufacturing). Specific percentage of total cost for each is not disclosed, but they are subject to high price volatility.
Key Suppliers
Not specifically named, though the company is an approved vendor for major clients like IOCL, HPCL, and BPCL who influence the supply chain ecosystem.
Capacity Expansion
Current installed capacity is approximately 65,000 core-cable-kilometres annually across manufacturing facilities in Chopanki and Kaharani, Rajasthan.
Raw Material Costs
Raw material costs are a significant portion of the cost structure; volatility in these prices directly strains the PBILDT margin, which fell to 6.22% in FY25 due to rising input costs and competitive pricing.
Manufacturing Efficiency
Inventory turnover ratio improved by 17.73% to 11.22x in FY25 from 9.53x in FY24, indicating better asset utilization and operational efficiency.
Strategic Growth
Expected Growth Rate
23%
Growth Strategy
Growth is targeted through an order book of ~INR 260.00 Cr to be executed in FY26. Strategy involves increasing revenue from LT cables, expanding the customer base in the renewable energy and solar sectors, and leveraging long-standing relationships with PSUs and large private players like L&T and TATA Projects.
Products & Services
Control cables, Instrumentation cables, Low Tension (LT) Power cables, and Solar cables.
Brand Portfolio
CORDS®
New Products/Services
Increased focus on 1.9/3.3 kV Power Cables following the grant of BIS license and NABL accreditation for its test laboratory to serve the solar and hydrocarbon industries.
Market Expansion
Targeting new markets in the renewable energy, solar power, and hydrocarbon refinery segments to scale operations.
External Factors
Industry Trends
The cable industry is shifting from unorganized to organized sectors but remains highly fragmented. Demand is growing in the renewable and infrastructure segments, where CORDSCABLE is positioning itself with specialized products.
Competitive Landscape
Highly competitive and fragmented with many small and medium enterprises and several large players, restricting pricing flexibility.
Competitive Moat
Moat is built on a 50-year track record of the promoter, established relationships with PSUs, and specialized certifications (BIS, NABL) which act as entry barriers for high-spec industrial contracts.
Macro Economic Sensitivity
Highly sensitive to government policies and economic conditions affecting infrastructure and power sectors.
Consumer Behavior
Shift toward renewable energy and solar power is driving demand for specialized solar and LT power cables.
Geopolitical Risks
Volatility in global raw material costs and supply chain disruptions are noted as key external threats.
Regulatory & Governance
Industry Regulations
Operations must comply with BIS standards for power cables and NABL accreditation for testing laboratories. Changes in environmental or safety standards pose regulatory risks.
Taxation Policy Impact
The company is subject to standard Indian corporate tax laws; however, it recently faced a GST dispute regarding input tax credit.
Legal Contingencies
Received a GST 'Order in Original' (No. 36/GST/BHD-TIJARA/25-26) on November 28, 2025, disallowing input tax credit for FY 2018-19 and 2019-20. Management states there is no material impact on financial or operational activities.
Risk Analysis
Key Uncertainties
Volatility in raw material prices and intense industry competition are the primary uncertainties, potentially impacting margins by more than 0.5% as seen in the FY24-FY25 transition.
Geographic Concentration Risk
Manufacturing is concentrated in Rajasthan (Chopanki and Kaharani), making it sensitive to regional industrial policies.
Third Party Dependencies
High dependency on large PSU clients for repeat orders; however, the client base is diversified across oil, power, and infrastructure sectors.
Technology Obsolescence Risk
The company mitigates technology risks by equipping facilities with modern technology and maintaining stringent quality processes.
Credit & Counterparty Risk
Receivables management is critical; debtor turnover was 5.01x in FY25. The company deals with reputed PSUs and large corporates, which generally mitigates credit risk.
