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Electrical Products company Dynamic Cables announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Revenue growth was ~35% for Q4 as compared to same quarter previous year and ~25% on QoQ basis.
- Operating margins have expanded to 10.6% in Q4, increasing sequentially from 9.4% in Q3FY24
- PAT have grown ~ 38% to Rs 13.8 crore as compared to previous quarter.
- Receivable days (calculated on trailing 6 months gross sales) were ~ 91 days in Q4FY24.
- Order book stands at ~Rs 521 Crores as on 31st March 2024. Healthy order book indicates continuation of growth momentum.
FY24 Financial Highlights:
- Completed brownfield expansion of Reengus plant, thereby increasing manufacturing capacity by ~25% of our existing capacity.
- ROCE and ROE for the year was 21.5% and 17.7% respectively
- Export sales contributed ~12% of total sales
- Received credit rating upgrades from Crisil and India Ratings, now standing at A-, up from BBB .
- Company has recommended a final dividend of 5% of face value. i.e, Rs 0.50/- per share, subject to shareholders approval
- Inventory increased by Rs 38 crores [Rs 126.60 crore as on 31.03.2024 v/s 88.60 crore 31.03.2023], was commensurate with increase in the order book to Rs 521 crore v/s Rs 331 crore.
Sharing insights on the results, Ashish Mangal, Managing Director of Dynamic Cables Limited commented: “We are delighted to announce the conclusion of the financial year 2024 on a strong foothold, marking a robust foundation for our future endeavors. Throughout the year, we have set new benchmarks and achieved strong revenue growth, reaffirming our position in the market. Our team showcased remarkable resilience and adaptability, capitalizing on industry demand dynamics. We are increasing our focus on cost management and working capital management. During last year, our endeavors to reduce finance cost fructified with enhancement in credit rating resulting in significant reduction in our financing cost.
Moreover, we expect our solid performance to remain steadfast, supported by substantial investments in power infrastructure development by Government alongside private sector players. The upward trend observed in sectors such as infrastructure, construction, railways, electric vehicles and both renewable and non-renewable energy is fueling the demand for power and power cables. At Dynamic Cables, our wide-ranging product portfolio, nationwide presence, and global reach, coupled with approvals from various domestic and international agencies, position us favorably to make significant contributions to these national development initiatives. Furthermore, our continually expanding order book, reflects the trust our clients have in our capabilities, further strengthening our outlook for sustained growth. The resilience demonstrated by the power cables sector in recent quarters indicates strong potential for continuous growth in the foreseeable future.”
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