Dynamic Cables Limited stands as a prominent manufacturer of power infrastructure cables in India, serving diverse sectors including government utilities, private distribution companies, and industrial clients. The company specializes in manufacturing power infra cables that include LT, HT, EHVC, Power control & instrumentation cables, flexible & industrial cables, solar cables, and railway signaling cables. It supplies cables to Government Discoms, Private Distribution companies, Private EPC contractors, industrial, and Export clients.
The company's leadership is managed by Rahul Mangal as Chairman and Ashish Mangal as Managing Director.
Dynamic Cables Limited was formerly known as Dynamic Engineers. The company was founded in 1986 and is based in Jaipur, India. The company has undergone significant transformations since its inception, originally being formed and registered as a partnership firm in the name and style of "M/s. Ashish Fluxes and Chemicals", pursuant to a deed of partnership entered between Late Mr. K.M. Mangal and Late Mr. Anil Mangal in 1984.
The firm was converted from a partnership to a Private Limited Company in the name of "Dynamic Cables Private Limited" on April 03, 2007. Subsequently, the Company was converted into a public limited company, and the name was changed to "Dynamic Cables Limited" on August 22, 2017. The Company came out with a Public Issue of 58,44,000 Equity shares on December 06, 2017, raising capital aggregating to ₹23.37 Crore.
Dynamic Cables operates through a comprehensive manufacturing network with three manufacturing plants situated at Jaipur and Reengus. Business operations are managed through a corporate office in Jaipur and five regional sales offices across India.
The company's extensive product portfolio includes the manufacturing of LV, MV, and HV Power Cables, Aerial Bunched Cables, All Aluminium conductors, All Aluminium Alloy Conductor, Railway signaling cables, and various specialized cables for different applications.
The Company's products include:
* Bare conductors
* Insulated conductors
* 66 kilovolts (KV) power cables
* Medium voltage (MV) aerial bunched cables
* MV power cables (copper and aluminum)
* Low voltage (LV) aerial bunched cables
* LV power cables (copper and aluminum)
* LV control cables
* LV concentric cables
* Railway signaling cables
* Galvanized stay wire/earth wire
Its products are used for projects in power generation, electricity transmission and distribution, airports, railways, and residential projects.
The company has established strong relationships with major clients across various sectors. It is also approved with BHEL, Larson & Toubro Ltd, TATA Projects Ltd, North Western Railways, Public Works Department, Maharashtra, along with all major state electricity boards in India.
The Company's products are widely used amongst various Indian private clients which include: Gammon India, Jaguar Overseas, Mohan Energy, L&T, TATA, Bajaj, Voltas, etc.
Dynamic Cables has demonstrated robust financial performance in recent years. The company has a market cap of ₹2,352 Crore as of July 11, 2025, representing a 68.2% increase over the past year.
For the full financial year 2025, net profit rose 71.62% to ₹64.82 Crore compared to ₹37.77 Crore in the previous year, while sales rose 33.51% to ₹1,025.37 Crore compared to ₹768.00 Crore in the previous year.
The company's quarterly performance has been particularly strong:
* Q4 FY25: Net profit rose 71.10% to ₹23.56 Crore compared to ₹13.77 Crore in the previous year same quarter. Sales rose 37.47% to ₹331.18 Crore compared to ₹240.91 Crore in the previous year quarter.
* Q3 FY25: Net profit rose 110.11% to ₹15.80 Crore compared to ₹7.52 Crore in the previous year quarter. Sales rose 30.77% to ₹251.50 Crore compared to ₹192.32 Crore in the previous year quarter.
* Revenue (FY25): ₹1,025.37 Crore
* Net Profit (FY25): ₹64.82 Crore
* Market Capitalization: ₹2,352 Crore (as of July 11, 2025)
* P/E Ratio: 36.29 times (as of July 11, 2025)
* P/B Ratio: 5.91 times (as of July 11, 2025)
* Promoter Holding: 68.2% (current)
Dynamic Cables announced that the Board of Directors at its meeting held on May 13, 2025, has recommended a Final Dividend of ₹0.50 per share (i.e., 5%), subject to the approval of the shareholders.
Additionally, the company has set a record date of July 11, 2025, for 1:1 bonus shares issuance to shareholders. Shareholders also approved an increase in authorized share capital from ₹25 Crore to ₹50 Crore. This expansion in authorized capital reflects the company's growth trajectory and future expansion plans.
Dynamic Cables Limited has demonstrated robust financial performance in Q3 FY25, marked by record revenues and a significant increase in its order book, reflecting strong demand, particularly in the renewable sector. While the company faces challenges such as market volatility and supply chain disruptions, management remains optimistic about future growth, especially in emerging markets and power infrastructure investments.
Strategic capital expenditures are focused on enhancing operational efficiency, with plans for capacity expansion expected to bolster revenue potential by Q2 FY26.
The company has been expanding its manufacturing capabilities strategically over the years:
* In 2009, the Company started its second plant for manufacturing of Medium Voltage cables.
* It started production at Reengus for manufacturing cables up to 66KV in 2018.
* It commenced production of Railway, Metros, EV & Solar Cables in 2020.
* Started production of Medium Voltage Covered Conductors in 2021.
* Installed 1 electric forklift in FY 2022-23.
As per Value Research classification, Dynamic Cables is a Small Cap company. The stock has shown significant returns, with Dynamic Cables giving a return of 67.28% in the last 1 year.
However, investors should consider that promoter holding has decreased over the last 3 years by 6.17%, with current promoter holding at 68.2%.
The company's financial performance shows strong growth momentum, but investors should be aware of operational challenges. One area of concern is Operating Cash Flow, which has been falling each year in the last three years and is currently at its lowest at ₹1.26 Crore. This indicates a decline in the company's cash revenues from business operations.
Dynamic Cables Limited presents a compelling investment opportunity in the power infrastructure sector, with strong financial performance, a diversified product portfolio, and strategic positioning in India's growing power and renewable energy markets. The company's recent expansion into electric vehicle and solar cable segments positions it well for future growth opportunities in emerging technologies.
