Universal Cables Limited stands as one of India's prominent manufacturers of electrical cables, capacitors, and related products, serving diverse industries across the country and internationally. Incorporated as Universal Cables Limited (formerly known as Hindustan Woollen Mills Limited) and promoted by M P Birla in 1945, the Company was renamed Universal Cables Limited (UCL) in 1961. Listed on both NSE and BSE, the company has established itself as a significant player in the power transmission and distribution sector.
Universal Cables Ltd is predominantly engaged in the business of manufacturing a large range of power cables from 1.1kV to 400kV & capacitors, Turnkey Projects relating thereto and other types of wires and cables, conductors, etc. The company operates under the UNISTAR brand name and caters to various sectors including power transmission, railways, fertilizers, petrochemical plants, steel plants, and mining operations.
The company's comprehensive product range includes Low Voltage, Medium Voltage and Extra High Voltage XLPE Power Cables up to 500 kV grade, PVC and Rubber Insulated Power Cables up to 11 kV grade, Control and Instrumentation Cables up to 1.1 kV. This diverse portfolio enables Universal Cables to serve multiple market segments and maintain a steady revenue stream across different industrial applications.
Universal Cables has consistently invested in modernizing its manufacturing facilities and upgrading technology to meet evolving market demands. During FY 2006-07, a Technological Upgradation-cum-Expansion Project using State-of-the-art Vertical Continuous Vulcanization (VCV) technology for the manufacture of XLPE Power Cables had commenced production. The company has also expanded its operations through strategic acquisitions, with Optic Fibre Goa Limited (OFGL) being merged with the Company through the Scheme of Amalgamation, which became effective from 29th August 2006.
In recent years, Universal Cables has achieved significant milestones in high-voltage cable manufacturing. In FY 2020-21, the Company completed long duration Pre-Qualification (PQ) test of 400 KV system at KEMA Netherland; it commenced manufacturing of 400kV EHV cables which is the highest voltage segment for underground cables in India. This capability enhancement has positioned the company to capture higher-value projects in the Extra High Voltage segment.
Universal Cables has demonstrated resilience in its financial performance despite market challenges. With a Market Cap of ₹2,701 Cr. as of the latest available data, the company reflects a substantial market presence. The company has maintained profitability over the years, with FY 2024 recording a total revenue of approximately ₹2,020.67 Cr, marking a significant milestone in the company's financial performance.
The company's financial metrics show mixed performance indicators. It has delivered a poor sales growth of 8.97% over the past five years. However, the company has maintained reasonable profitability margins and continues to generate positive cash flows from operations.
• Revenue (FY 2024): ₹2,020.67 Cr
• Net Profit (FY 2024): ₹108.22 Cr
• Market Capitalization: ₹2,701 Cr (as of July 2025)
• Return on Equity (3-year average): 6.56%
• Return on Capital Employed: 8.57%
• Debt-to-Equity Ratio: 0.89
• Sales Growth (5-year average): 8.97%
• Promoter Holding: 61.89% (as of Mar 2025)
Universal Cables has been actively pursuing growth opportunities in specialized cable segments. In 2023, the Company completed 400 kV cable supplies for a Government utility and received another turnkey order from the same utility which upon successful execution will help in adding strong credential in this niche voltage grade of EHV Cables. This success in the Extra High Voltage segment demonstrates the company's technical capabilities and opens doors for future high-value projects.
The company has also been focusing on export markets, particularly in optical fiber cables. Recent regulatory developments have impacted this segment, with the EU imposing 5.4% CVD and reducing anti-dumping duty to 2.9% on optical fibre cable exports from 12 June 2025. These changes in trade policies may affect the company's export strategies and profitability in international markets.
Universal Cables maintains strong corporate governance standards with transparent reporting and compliance practices. Promoter holding in Universal Cables Ltd has remained stable at 61.89 per cent as of Mar 2025 (from 61.89 per cent as of Jun 2024). The stable promoter holding indicates confidence in the company's long-term prospects and commitment to maintaining control over strategic decisions.
The company regularly submits compliance reports and maintains transparency in its operations. Universal Cables submits its Annual Secretarial Compliance Report confirming regulatory adherence for FY 2024-25. This demonstrates the company's commitment to regulatory compliance and good governance practices.
Universal Cables operates in the highly competitive electrical cables industry, which is driven by infrastructure development, industrial growth, and government initiatives in power transmission. The company has carved out a niche in specialized cable segments, particularly in Extra High Voltage cables, which require significant technical expertise and capital investment.
The company's ability to manufacture cables up to 400kV grade places it among the select few manufacturers in India capable of handling such high-voltage applications. This technical capability serves as a competitive moat and enables the company to command premium pricing for specialized products.
Universal Cables continues to focus on expanding its market presence while maintaining operational efficiency and product quality. The company's established brand recognition, technical expertise, and comprehensive product portfolio position it well to capitalize on India's growing infrastructure and industrial development needs.
