Dynamic Cables reports solid performance in FY22, PAT zooms 3x

NEW DELHI, June 6, 2022 /PRNewswire/ -- Jaipur-based cables and wire manufacturer, Dynamic Cables Limited surpassed all the previous milestones in FY22. Net profit of the company grew 3x to Rs. 30.9 cr from Rs. 9.8 cr in the preceding year.

Company also registered 65 per cent growth in sales to Rs. 563.6 crore as against Rs. 342.6 crore in the previous year. Operating EBITDA increased 134 per cent to Rs. 59.8 crore from Rs. 25.6 crore during the period under review.

For the quarter ended March 31, 2022, the company reported 60 per cent rise in the net profit to. Rs. 8.5 crore as against Rs. 5.3 crore in the same quarter previous year. Sales of the company increased 24 per cent to Rs. 172.7 crore in the quarter from Rs. 139.2 crore in Q4 FY21. On a sequential basis, revenue grew 21 per cent. Operational EBITDA increased 34 per cent to Rs. 15.5 crore during the quarter compared to Rs. 11.6 crore in the corresponding quarter of the previous fiscal.

With a cash flow of Rs. 64 crore from operating activities, the company was able to substantially reduce its debt and fund capex. The company had a healthy order book of Rs. 242.68 crore at the end of the fiscal. Management remains focused on increasing profitability through efficient operations, robust cash flows and optimal capital allocations.

Commenting on the results, Mr. Ashish Mangal, Managing Director of Dynamic Cables Limited said, "We remained focused to create value for our shareholders by improving profitability coupled with business growth and low leverage." He further commented, "Our performance is driven by operational improvement as a result of lean manufacturing practices, selecting the right set of business, cost optimisation and increase in productivity. We look forward to further consolidate our position amongst the mid-tier cables suppliers."

Sharing his outlook, he said, "Amid the looming inflationary worries, we remain agile through our business portfolio and business strategies. We believe that it is the beginning of a new growth era for institutional cable demand backed by robust capex cycle, high government revenues and normalization of business activities post pandemic."

About Dynamic Cables:

Dynamic Cables is inspired by the spirit of its organization and is strengthened by the philosophy of Product excellence, customer satisfaction and technological advancement. For over 30 years we have catered to India's & overseas energy & power sector.

Dynamic Cables is continuously expanding its footprints in all sectors like - INDUSTRIAL, EXPORTS, TURNKEY PROJECTS, POWER DISTRIBUTION COMPANIES, INFRASTRUCTURE WORKS etc. Dynamic Cables has a presence across India & many overseas countries, Our brand enjoys a high recall value due to its trust inspiring quality. Our Success is based on clear focus on Product, Process, quality and performance. Modernization and compliance with the ever changing requirement in the industry are mandatory to operate. Keeping that in view the company has 'Three' state of the art & modern manufacturing & testing facilities, located in Rajasthan.