The shares of global leader in supply of cables and conductors gained 12 percent to reach all time of Rs 544.15 apiece on Wednesday trade following the company’s strong June quarter financial results.
Dynamic Cables Ltd shares were trading at Rs 528.50 a share on the National stock exchange at 1:15 p.m., up Rs 42.55 or 8.76 percent.Also company has a market capitalization of Rs 1,161 crore.
As per exchange filing, Company reported a 14.74 percent growth in sales to Rs 181.27 crore in Q1FY24 compared to Rs 157.98 crore in the corresponding quarter of the previous year(Q1FY23).Furthermore, its net profit climbed by 58 percent to Rs 11.38 crore in Q1FY24 from Rs 7.17 crore in Q1FY23.
In comparison to the previous quarter (Q4 FY 22-23), operational revenue grew from 178 crore in Q4FY23 to 181 crore in Q1FY24, while net profit improved from 9 crore to 11 crore.
The company’s stock has gained 151 percent return in six months and 222 percent over a year. A shareholder’s investment of Rs. 1 lakh in the business would be worth Rs. 3.22 lakhs after a year and Rs. 2.51 lakhs after a half-year.
Dynamic Cables profitability ratios are robust, with a return on equity at 17.47 percent and a return on capital employed at 30.42 percent, and a debt-to-equity ratio of 0.46.
As per the current shareholding pattern, the promoters hold 74.44 percent of the company, while retail investors own 25.2 percent stake.
Dynamic Cables Ltd manufacturer’s power infra cables that includes flexible & industrial cables, solar cables and railway signalling cables. The company supplies cables to Government and Private Distribution companies.
Written by Omkar Chitnis
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