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DYCL - Dynamic Cables

📊 NSE: DYCL 🏢 Cables - Power 📅 Last Updated: 12/13/2025 21:42

📢 Recent Corporate Announcements

Dynamic Cables Promoters Confirm No New Share Encumbrances for FY 2025-26

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 29 Apr 2026, 05:33 PM

Dynamic Cables Limited has submitted a regulatory disclosure from its promoters under SEBI (SAST) Regulations. The promoter group, including Mr. Ashish Mangal and 11 other entities, confirmed that no new encumbrances or pledges were created on their shareholding during the financial year ended March 31, 2026. This is a mandatory annual declaration to ensure transparency regarding the status of promoter-held shares. The filing indicates that the promoter group has maintained its existing pledge status without adding new liabilities against their equity.

Promoters confirmed no new encumbrances on shares for the financial year ending March 31, 2026.
Declaration covers 12 promoter and promoter group entities including Ashish Mangal and Shiv Kripa Pipes LLP.
Disclosure made in compliance with Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
The filing confirms that no indirect or direct pledges were created other than those already disclosed.

💡 This is a routine annual compliance filing and does not impact the company's fundamentals. Investors should view this as a positive sign of transparency regarding promoter shareholding stability.

Dynamic Cables Promoters Confirm No New Share Encumbrances for FY 2025-26

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 29 Apr 2026, 05:31 PM

Dynamic Cables Limited (DYCL) has filed a disclosure under Regulation 31(4) of the SEBI (SAST) Regulations for the financial year ended March 31, 2026. The promoter group, led by Mr. Ashish Mangal, confirmed that no new encumbrances, direct or indirect, were made on their shares during the year. This annual declaration covers 12 promoter and promoter group entities, including Shiv Kripa Pipes LLP. The filing serves as a routine compliance measure to ensure transparency regarding the pledge status of promoter holdings.

Promoters confirmed zero new share encumbrances for the financial year ending March 31, 2026.
Compliance filed under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations.
The disclosure involves 12 entities within the promoter and promoter group.
Confirmation provided to both BSE and NSE as part of annual regulatory requirements.

💡 This is a routine regulatory filing that confirms no change in the pledge status of promoter shares. Investors should view this as a standard transparency measure with no immediate impact on stock valuation.

Dynamic Cables Partners with TS Conductor Corp (USA) for Advanced HTLS Conductor Manufacturing

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 23 Apr 2026, 01:26 PM

Dynamic Cables Limited (DYCL) has entered into a strategic manufacturing agreement with US-based TS Conductor Corp to produce High Temperature Low Sag (HTLS) Carbon Core Conductors in India. This patented technology utilizes an Aluminum Encapsulated Carbon Core that can reduce power line losses by up to 50% and significantly increase grid capacity without new infrastructure. The agreement allows DYCL to manufacture and market products under the globally established TS® Conductor brand, targeting high-growth sectors like Power Grid, Railways, and renewable energy. The initial 12-month agreement includes provisions for automatic renewal for two successive 12-month terms.

Strategic alliance with TS Conductor Corp (USA) to manufacture patented HTLS Carbon Core Conductors in India.
Technology offers a high strength-to-weight ratio and reduces electrical line losses by up to 50%.
DYCL will procure specialized composite cores on an arm's length basis to manufacture under the TS® Conductor brand.
Targeting major infrastructure entities including Power Grid, State Transcos, and renewable energy developers.
Agreement is valid for 12 months with automatic renewal options for up to two additional years.

💡 This partnership moves DYCL into a high-margin, technology-driven segment of the power transmission market. Investors should watch for upcoming contract wins from major utilities like Power Grid as a sign of successful commercialization.

Dynamic Cables Receives Favourable IT Order; Tax Demands of ₹4.90 Crore Quashed

🟢 POSITIVE ⭐ 6/10

LEGAL 📅 31 Mar 2026, 05:12 PM

Dynamic Cables Limited has successfully contested tax demands totaling approximately ₹4.90 crore before the Commissioner of Income-tax (Appeals). The favourable order pertains to Assessment Years 2017-18 and 2019-20, where the authority has deleted previous disallowances of expenses and additions to income. Specifically, the company was facing demands of ₹3.26 crore and ₹1.64 crore for the respective years. This resolution effectively removes a significant contingent liability from the company's books, ensuring no adverse financial impact on its operations.

Favourable order received under Section 250 of the Income-tax Act, 1961.
Total tax demand of ₹4,89,80,316 (approx. ₹4.90 Cr) has been successfully deleted.
The dispute involved Assessment Year 2017-18 (₹3.26 Cr) and Assessment Year 2019-20 (₹1.64 Cr).
The Commissioner of Income-tax (Appeals) allowed the company's appeal in full.
Management confirms no adverse financial or operational impact following this ruling.

💡 Investors should view this as a positive development that eliminates a potential cash outflow and legal risk. The focus should now remain on the company's core business execution and upcoming quarterly results.

Dynamic Cables to Close Trading Window from April 1, 2026 for Q4 and FY26 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 27 Mar 2026, 03:57 PM

Dynamic Cables Limited has announced the closure of its trading window for designated persons starting April 1, 2026. This move is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the company's Q4 and full-year financial results for the period ending March 31, 2026. The window will remain closed until 48 hours after the audited financial results are declared to the stock exchanges. The specific date for the board meeting to approve these results will be notified separately.

Trading window closure effective from April 1, 2026
Closure pertains to the Audited Financial Results for Q4 and FY ended March 31, 2026
Window to remain closed until 48 hours post-result declaration
Mandatory compliance under SEBI (Prohibition of Insider Trading) Regulations, 2015

💡 This is a routine regulatory announcement with no impact on company fundamentals. Investors should look forward to the upcoming Q4 and FY26 earnings release to evaluate performance.

Dynamic Cables Reaffirms CRISIL A/Stable Rating; Bank Facilities Enhanced to Rs 350 Cr

🟢 POSITIVE ⭐ 6/10

REGULATORY 📅 21 Mar 2026, 12:11 PM

CRISIL Ratings has reaffirmed Dynamic Cables Limited's credit ratings for its banking facilities, maintaining a 'CRISIL A/Stable' for long-term and 'CRISIL A1' for short-term instruments. The total bank facilities covered under these ratings have been increased to Rs 350 crore from the previous Rs 295.55 crore. This reaffirmation indicates a stable financial outlook and consistent operational performance. The enhancement in facility limits suggests that the company is securing additional headroom for working capital or expansion needs.

CRISIL reaffirmed the long-term rating at 'CRISIL A' with a 'Stable' outlook.
Short-term rating reaffirmed at 'CRISIL A1', indicating strong liquidity and safety.
Total rated bank facilities enhanced by approximately 18.4% to Rs 350 crore.
The rating action covers an additional Rs 54.45 crore in banking limits compared to the previous assessment.

💡 Investors should take this as a sign of financial stability and strong creditworthiness, which may lead to competitive borrowing costs. Monitor the utilization of the enhanced credit limits for signs of accelerated business growth.

Dynamic Cables to Participate in Arihant Capital's Rising Stars 2026 Conference on March 9

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 03 Mar 2026, 02:26 PM

Dynamic Cables Limited has announced its participation in the 'Bharat Connect Conference: Rising Stars 2026' organized by Arihant Capital. The virtual group meeting is scheduled for March 9, 2026, between 12:00 PM and 01:00 PM. The company has explicitly stated that no unpublished price sensitive information (UPSI) will be shared during the session. This interaction is part of the company's regular engagement with the institutional investor community.

Participation in Arihant Capital - Bharat Connect Conference: Rising Stars 2026
Meeting scheduled for March 9, 2026, from 12:00 PM to 01:00 PM
The interaction will be held in a virtual group meeting format
Company confirms no Unpublished Price Sensitive Information (UPSI) will be disclosed

💡 Investors should monitor the company's website for any post-meet presentations or transcripts to gain insights into management's outlook. No immediate action is required as this is a routine investor interaction.

Dynamic Cables Enters Copper Building Wires Segment with B2B Focus

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 12 Feb 2026, 07:18 PM

Dynamic Cables has announced its strategic entry into the copper building wires segment with the launch of premium FR-LSH and HR-FRLSH green wires. The company is adopting a strictly B2B approach, targeting large-scale infrastructure, industrial, and residential projects rather than the retail market. This initial rollout is a pilot phase using existing manufacturing facilities to test market demand and margin profiles. Management will monitor performance over the next 3-4 quarters before deciding on any significant capital expenditure for capacity expansion.

Launched PVC Insulated FR-LSH and HR-FRLSH Green Building Wires compliant with BIS IS 694 standards.
Exclusively targeting the B2B 'Projects' market segment including large residential, commercial, and industrial buyers.
Utilizing existing manufacturing plants for a controlled pilot rollout to gain market insights without immediate heavy CapEx.
Performance and sustainable demand to be evaluated over the next 3-4 quarters before considering capacity augmentation.
Products are eco-friendly, manufactured using lead-free compounds and compliant with RoHS and REACH regulations.

💡 Investors should monitor the company's ability to secure large B2B contracts in this new segment over the next year. Success in this pilot phase could lead to a significant new revenue stream and improved margin profile for the company.

Dynamic Cables Enters Copper Building Wire Segment with New FR-LSH Product Launch

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 12 Feb 2026, 07:16 PM

Dynamic Cables Limited (DYCL) has announced its strategic entry into the copper building wires segment with the launch of FR-LSH and HR-FRLSH Green Building Wires. The company is specifically targeting the domestic B2B 'Projects' market, including large-scale residential, commercial, and infrastructure developments. This launch is being treated as a strategic pilot using existing manufacturing facilities to test market demand and margin profiles. Management plans to monitor performance benchmarks for the next 3-4 quarters before deciding on any significant capital expenditure or capacity expansion for this new product line.

Launched premium FR-LSH and HR-FRLSH Green Building Wires compliant with BIS 'IS 694' standards.
Strategic focus remains exclusively on the B2B market segment with no current plans to enter the retail space.
Products are manufactured using lead-free compounds, ensuring compliance with RoHS and REACH environmental regulations.
Initial production will utilize existing manufacturing plants in Jaipur to pilot the business model.
Company will evaluate performance and sustainable demand over the next 3-4 quarters before committing to capacity augmentation.

💡 Investors should monitor the company's order book for B2B infrastructure projects over the next year to gauge the success of this segment entry. The calibrated approach suggests a focus on maintaining margins over aggressive volume growth in the new category.

Dynamic Cables Reports 46% PAT Growth in 9MFY26; Order Book Reaches ₹787 Crores

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 02 Feb 2026, 06:57 PM

Dynamic Cables reported a strong performance for the first nine months of FY26, with revenue increasing 21% YoY and PAT surging 46% to ₹60 crores. The company's order book stands at a healthy ₹787 crores, providing strong revenue visibility, while operating margins improved to 10.9% due to better product mix. Management highlighted progress on its new E-Beam facility, which has received AERB approval and is slated for commissioning by the end of FY26. Despite a temporary slowdown in Q3 volume growth to 2-3%, the company maintains an 18-20% long-term growth guidance driven by renewable energy and power infrastructure.

9M FY26 PAT grew by 46% YoY to ₹60 crores, while operating profit rose 29% to ₹92 crores.
Order book remains robust at ₹787 crores as of December 31, 2025, with 78% of sales coming from the private sector.
Received AERB approval for the new E-Beam facility, expected to be operational by the end of FY26.
Solar cable contribution has increased to 15-20% of total sales, up from 10-15% in the previous year.
9M volume growth stood at 17%, although Q3 saw a temporary moderation to 2-3% due to B2B customization cycles.

💡 Investors should monitor the timely commissioning of the E-Beam facility and the ramp-up in high-margin solar and HTLS conductor segments. The strong private sector mix and healthy order book suggest continued growth momentum despite short-term volume fluctuations.

Dynamic Cables Secures UL Certification for US Market and New BIS License for Reengus Plant

🟢 POSITIVE ⭐ 7/10

REGULATORY 📅 28 Jan 2026, 06:14 PM

Dynamic Cables Limited (DYCL) has achieved a significant regulatory milestone by receiving UL Certification for its PV Solar Cables, enabling entry into the United States and other UL-regulated international markets. The certification covers cables rated up to 2000V under the UL 4703 standard. Additionally, the company has been granted a BIS license for its Reengus Plant to manufacture PVC insulated flexible cables up to 1100V. The BIS license is valid until January 23, 2027, while the UL certification provides a long-term platform for export growth.

Received UL Certification for PV Solar Cables (UL 4703) covering ratings of 600V and 1000/2000V.
UL approval opens the United States market and other global UL-regulated regions for solar cable exports.
Granted BIS License (IS 694:2010) for the Reengus Plant for PVC insulated flexible cables up to 1100V.
The BIS license (Registration No. CM/L 8400327314) is valid until January 23, 2027.

💡 Investors should monitor the company's export revenue growth in the coming quarters as it begins leveraging the UL certification for the US market. This development strengthens the company's position in the high-growth renewable energy infrastructure segment.

Dynamic Cables Releases Q3 FY26 Earnings Conference Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 27 Jan 2026, 04:42 PM

Dynamic Cables Limited has officially released the audio recording of its earnings conference call held on January 27, 2026. The call discussed the company's un-audited financial results for the third quarter and the nine-month period ending December 31, 2025. This disclosure is part of the mandatory compliance under Regulation 30 of SEBI (LODR) Regulations. The recording provides a platform for investors to hear management's perspective on the company's operational performance and future strategy.

Audio recording of the Q3 FY26 earnings call is now available via the company's website.
The call followed the announcement of un-audited financial results for the period ended December 31, 2025.
Compliance maintained under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Investors can access the full recording at https://www.dynamiccables.co.in/audio/q3fy26resultsd.mp3.

💡 Investors should listen to the recording to understand management's commentary on margin trends and order book execution. This is a routine but essential step for fundamental analysis of the company's quarterly performance.

Dynamic Cables Q3 PAT Surges 42% YoY to ₹22.4 Cr; Order Book Hits ₹787 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 27 Jan 2026, 02:03 PM

Dynamic Cables reported a strong Q3FY26 with revenue growing 19% YoY to ₹298.8 crore and PAT increasing 42% to ₹22.4 crore. The company's operating margins improved significantly to 11.5% from 10.2% in the previous year, driven by disciplined execution and better product mix. The order book remains robust at ₹787 crore, providing strong revenue visibility for upcoming quarters. Additionally, the company is on track to commission its new plant by the end of FY26 and has received key UL certifications for the US market.

Q3FY26 Revenue grew 19% YoY to ₹298.8 Cr, while 9M Revenue rose 21% to ₹842.4 Cr
Net Profit (PAT) for Q3 jumped 42% YoY to ₹22.4 Cr with an improved EPS of ₹4.6
Order book increased to ₹787 Cr as of Dec 2025, up from ₹721 Cr in Sep 2025
Operating margins expanded to 11.5% in Q3FY26 compared to 10.2% in Q3FY25
New manufacturing plant and E-beam facility remain on track for commissioning by FY2026 end

💡 Investors should note the significant margin expansion and growing order book as indicators of strong operational efficiency. The upcoming capacity expansion and new US market certifications provide a positive outlook for long-term growth.

Dynamic Cables Q3 FY26 Net Profit Jumps 41.9% YoY to ₹22.42 Crore

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 27 Jan 2026, 12:24 PM

Dynamic Cables Limited (DYCL) reported a robust performance for the quarter ended December 31, 2025, with revenue from operations growing 18.8% YoY to ₹298.77 crore. Net profit for the quarter surged by 41.9% YoY to ₹22.42 crore, up from ₹15.80 crore in the same period last year. For the nine-month period (9M FY26), the company's net profit reached ₹60.27 crore, representing a significant 46% growth compared to 9M FY25. The company has also successfully utilized ₹84.88 crore from its preferential issue proceeds for business objectives.

Revenue from operations increased 18.8% YoY to ₹29,876.77 Lakhs in Q3 FY26.
Net Profit for the quarter rose 41.9% YoY to ₹2,242.27 Lakhs.
9M FY26 Net Profit grew by 46% YoY to ₹6,026.53 Lakhs compared to ₹4,125.59 Lakhs in 9M FY25.
Basic and Diluted EPS for the quarter improved to ₹4.63 from ₹3.26 YoY (adjusted for 1:1 bonus issue).
Company utilized ₹84.88 Crore of the ₹96.59 Crore raised via preferential issue for growth objectives.

💡 The strong double-digit growth in both revenue and profitability indicates healthy demand and operational efficiency. Investors should maintain a positive outlook while monitoring the company's ability to maintain these margins in a competitive cable industry.

Dynamic Cables to Host Q3FY26 Earnings Conference Call on January 27, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 20 Jan 2026, 05:21 PM

Dynamic Cables Limited (DYCL) has scheduled a conference call for investors and analysts on Tuesday, January 27, 2026, at 02:00 PM IST. The call will focus on the company's un-audited financial results for the third quarter and nine months ended December 31, 2025. Key management personnel, including Managing Director Ashish Mangal and CFO Murari Lal Poddar, will be in attendance to discuss performance. The session is being hosted by PhillipCapital (India) Private Limited and will be recorded as per regulatory guidelines.

Earnings call scheduled for January 27, 2026, at 2:00 PM IST to discuss Q3FY26 results.
Management representation includes MD Ashish Mangal and CFO Murari Lal Poddar.
The call is hosted by PhillipCapital and includes international dial-in options for USA, UK, Singapore, and Hong Kong.
Focus will be on the un-audited financial performance for the quarter and nine-month period ending December 31, 2025.

💡 Investors should attend the call or review the subsequent transcript to understand management's outlook on raw material costs and order book execution. This is a routine but important event for assessing the company's growth trajectory in the cable sector.

View All DYCL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Revenue grew 33.5% YoY to INR 1,025.4 Cr in FY25. For 1HFY26, revenue reached INR 543.6 Cr, a 23% YoY increase. Segmental contribution in 1HFY26 was led by High Voltage (HV) cables at 55%, Low Voltage (LV) cables at 37%, and Conductors at 8%. The growth is primarily driven by a ramp-up in LT and HT wire capacities which constitute 88% of total revenue.

Geographic Revenue Split

Domestic sales dominated with 91% contribution in FY25 (up from 88% in FY24), while export share declined to 9% from 12% in the previous year. In 1HFY26, the split was 90% domestic and 10% exports. The shift reflects robust domestic demand from the power and infrastructure sectors.

Profitability Margins

Net Profit Margin improved to 6.32% in FY25 from 4.92% in FY24. PAT for FY25 was INR 65 Cr, representing a 72% YoY increase. 1HFY26 PAT rose 49% YoY to INR 38 Cr. Operating Profit Margin stood at 10.28% in FY25 and improved to 10.63% in 1HFY26 due to effective cost management and higher realization from a diversified product mix.

EBITDA Margin

EBITDA margin was 10.28% in FY25, a slight increase from 10.06% in FY24. In 1HFY26, it further improved to 10.63% (INR 57.8 Cr). The margin resilience is attributed to back-to-back raw material procurement which hedges against price volatility.

Capital Expenditure

Planned capex for FY26 is between INR 40 Cr and INR 50 Cr, with INR 25 Cr already deployed in 1HFY26. This includes the completion of a new solar cable facility at Reengus, Rajasthan, scheduled for commissioning in H2FY26 to drive FY27 growth.

Credit Rating & Borrowing

Credit rating was upgraded to CRISIL A (Stable) from CRISIL A-. Interest coverage ratio significantly improved to 6.90x in FY25 (from 3.73x in FY24) and reached 10.46x in 1HFY26. Borrowing costs are reduced following a debt reduction of INR 96.58 Cr via preferential allotment in June 2024.

⚙️ Operational Drivers

Raw Materials

Aluminum and Copper are the primary raw materials, accounting for 80% to 85% of the total product value. Fluctuations in these commodities directly impact the cost of goods sold.

Import Sources

Not specifically disclosed in available documents, though the company manages volatility through prudent inventory policies and cost-plus pricing on an order-to-order basis.

Capacity Expansion

Current expansion is focused on the Reengus plant for solar cables, expected to be completed by March 2026. This will allow for a gradual ramp-up in production volumes starting FY27.

Raw Material Costs

Raw material costs represent approximately 80-85% of revenue. The company mitigates price risk by placing procurement orders only after receiving firm client orders, ensuring margins remain stable despite commodity price swings.

Manufacturing Efficiency

Return on Capital Employed (ROCE) improved to 24.6% in FY25 from 22.9% in FY24. Capacity utilization is expected to improve further post-debottlenecking and commissioning of the Reengus facility.

📈 Strategic Growth

Expected Growth Rate

20%

Growth Strategy

The company aims to grow at 1.5x the industry rate by expanding its product portfolio into high-margin segments like solar cables and data center cables. Growth is supported by a robust order book of INR 721 Cr as of September 2025 and the commissioning of new capacities in H2FY26.

Products & Services

Low Voltage (LV) cables, Medium Voltage (MV) cables, High Voltage (HV) cables, Extra High Voltage (EHV) cables, solar cables, data center cables, and railway signaling cables.

Brand Portfolio

Dynamic Cables.

New Products/Services

Recently added solar cables and data center cables with advanced technology. These are expected to contribute to a gradual margin expansion post-FY26 ramp-up.

Market Expansion

Targeting the renewable energy sector and private infrastructure projects. The share of private sector orders increased to 73% in FY25 from 64% in FY24.

🌍 External Factors

Industry Trends

The industry is shifting toward renewable energy (solar) and specialized cables for data centers. The cables and wires sector is expected to grow at 12-13% annually, driven by rural electrification and real estate expansion.

Competitive Landscape

Highly fragmented and competitive industry with presence of large branded players who restrict the pricing power of smaller entities.

Competitive Moat

Moat is built on a diversified product mix, long-standing promoter experience, and a shift toward private sector clients which improves liquidity. Sustainability is supported by a low gearing ratio of 0.16x and strong interest coverage.

Macro Economic Sensitivity

Highly sensitive to infrastructure and power sector spending. Growth is linked to India's GDP, urbanization, and the establishment of smart cities.

Consumer Behavior

Increasing preference for branded and high-quality specialized cables in the private infrastructure and renewable sectors.

Geopolitical Risks

Exposure to global commodity price cycles for aluminum and copper, which are influenced by international trade and geopolitical stability.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with Indian Accounting Standards (Ind AS) and Section 133 of the Companies Act. Revenue recognition is monitored as a key audit matter to ensure control transfer compliance.

Environmental Compliance

The company spent the entire required amount as per Section 135 of the Companies Act, 2013, for CSR and statutory requirements.

Legal Contingencies

Auditors reported an unmodified opinion on internal financial controls. No whistle-blower complaints were received during the year. Specific pending court case values were not disclosed.

⚠️ Risk Analysis

Key Uncertainties

Volatility in raw material prices (80-85% of value) and the inherent cyclicality of the power and infrastructure industries pose risks to sustained revenue growth.

Geographic Concentration Risk

91% of revenue is concentrated in the domestic Indian market, making the company vulnerable to local economic downturns.

Third Party Dependencies

High dependency on aluminum and copper suppliers; however, the company uses multiple vendors to mitigate supply chain disruptions.

Technology Obsolescence Risk

The company is addressing technology risks by investing in new product lines like data center and solar cables to stay relevant in a shifting energy landscape.

Credit & Counterparty Risk

Receivables quality has improved, with debtor days falling to 84 days. The shift to 78% private sector clients reduces the risk of long payment cycles associated with government contracts.