The Wires And Cables Market is an important segment of the electrical industry. As per the GlobalNewswire report Over the next few years, the global wires and cables market is expected to grow with a CAGR of 8.2 percent, driven by increasing demand from the construction and automotive industries, as well as the growing adoption of renewable energy sources.
With solid margin expansion, substantial loan growth, and asset quality improvements, the cable stock delivered remarkable results in the June quarter of FY24.
Listed below are three Multibagger Cable stocks with Net profit growth of up to 106% YOY.
Finolex Cables Ltd
Finolex Cables is a small-cap company that was trading at Rs 1,053 per share, up 2.3 percent on Friday from the previous close price.
The company reported a 37 percent rise in net profit for the June quarter, at Rs 132 crore, compared to Rs 96 crore in the same time last year (Q1FY23). Furthermore, revenue jumped by 18 percent to Rs 1,204 crore from Rs 1,016 crore the previous year.
In the previous year, the company’s share price has risen from Rs 469.20 to current levels, giving multibagger returns of 124 percent. As a result, if an investor purchased 1 lakh shares of a company in the previous year, their holdings are now worth 2.24 lakhs!
Finolex Cables is one of the leading manufacturers in the electrical and optics cable manufacturing industry. The company produces overhead and desktop fans, room heaters, and lighting products marking the company’s entry into the FMEG (Fast Moving Electrical Goods) sector.
Paramount Communications Ltd
Paramount Communications is a small-cap company that was trading at Rs 53.45 per share, down 4.98 percent on Friday from the previous close price.
The company reported a 106 percent rise in net profit for the June quarter, at Rs 14.53 crore, compared to Rs 7.03 crore in the same time last year (Q1FY23).
Furthermore, revenue jumped by 28 percent to Rs 210 crore from Rs 163 crore the previous year.
In the previous year, the company’s share price has risen from Rs 13.60 to current levels, giving multibagger returns of 293 percent. As a result, if an investor purchased 1 lakh shares of a company in the previous year, their holdings are now worth 3.93 lakhs!
Paramount Communications Ltd is engaged in the manufacturing of Wires and Cables comprising power cables, telecom cables, railway cables, and specialised cables.
Dynamic Cables Ltd
Dynamic Cables Ltd is a small-cap company that was trading at Rs 479 per share, down 2.08 percent on Friday from the previous close price and the company has a market capitalization of Rs 1,090 crore.
The company reported a 59 percent rise in net profit for the June quarter, at Rs 11.38 crore, compared to Rs 7.17 crore in the same time last year (Q1FY23). Furthermore, revenue jumped by 15 percent to Rs 181 crore from Rs 157 crore the previous year.
In the previous year, the company’s share price has risen from Rs 147.65 to current levels, giving multibagger returns of 225 percent. As a result, if an investor purchased 1 lakh shares of a company in the previous year, their holdings are now worth 3.25 lakhs!
Dynamic Cables Ltd. is a prominent cable and wire company that serves industries such as industrial, exports, turnkey projects, power distribution businesses, and infrastructure construction.
Written By Omkar Chitnis
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
