Dynamic Cables LimitedH1 revenue +31%, new plant in H2, margin band held

Dynamic Cables' Q2 FY27 call, held on 27 October 2026, reported first-half revenue of ₹712 crore, up 31%, operating profit of ₹74.3 crore, up 29%, at a 10.44% margin, and profit after tax of ₹47.1 crore, up 24%.

Management gave no standalone Q2 figures; analysts cited quarterly volume growth of about 6% and a fall in gross margin from above 20% to 16% to 17%, which management attributed to product mix and a minor commodity effect, since 80% to 90% of contracts carry price variation clauses. The order book was about ₹829 crore and receivable days were a record low of under 60. The new manufacturing facility has its machinery installed, is due to contribute in the second half and could add ₹240 crore to ₹250 crore of revenue over three to four quarters on an investment of ₹40 crore to ₹45 crore.

Finance cost is expected to stay below 15% of EBITDA with no term debt. Management maintained its 10% to 11% EBITDA band and 20% long-term growth guidance, avoided quantitative targets, and said exports are held back by freight, insurance and tariff concerns.