Birla Cable Ltd (BIRLACABLE)
🎯 Key Takeaways
- Birla Cable Ltd is in a strategic transition phase, marked by regulatory progress on a merger with Vindhya Telelinks and leadership succession with the appointment of Somesh Laddha as new Manager. The company maintains strong profitability metrics (ROE 16.
- Revenue grew 24.5% QoQ to ₹267 in Q1FY27.
- ⚠️ Merger execution risk remains elevated due to dependence on NCLT approval and ongoing compliance requirements; any delays or conditions could impact s
- Market Cap
- ₹1,054
- P/E Ratio
- 22.8
- P/B Ratio
- 3.75
- ROE
- 16.5%
- ROCE
- 17.7%
- Debt/Equity
- 0.47
- Div Yield
- 0.36%
- Promoter
- 66.3%
📖 The Story
Birla Cable Ltd is in a strategic transition phase, marked by regulatory progress on a merger with Vindhya Telelinks and leadership succession with the appointment of Somesh Laddha as new Manager. The company maintains strong profitability metrics (ROE 16.5%, ROCE 17.7%) and improving operational performance, but faces execution risks tied to the merger's NCLT approval and ongoing compliance obligations.
📰 What's Happening
The company received NSE and BSE observation letters confirming no objections to its proposed merger with Vindhya Telelinks, a key step toward regulatory clearance. Shareholders approved all AGM resolutions, including the adoption of FY2026 financial statements, declaration of dividend, re-appointment of Director Dhan Raj Bansal, and appointment of Somesh Laddha as Manager for a three-year term starting May 22, 2026. The merger scheme must be filed with the NCLT within six months, with compliance reports required and no modifications permitted without SEBI consent.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Revenue | 176 | 205 | 214 | 267 |
| Operating Profit | 3 | 7 | 17 | 43 |
| OPM % | 1.8% | 3.4% | 7.7% | 15.9% |
| Net Profit | 1 | 4 | 11 | 31 |
| EPS | ₹0.24 | ₹1.34 | ₹3.60 | ₹10.23 |
Operational performance shows clear improvement, with revenue rising from ₹176 crore (Sep 2025) to ₹267 crore (Jun 2026), and operating profit expanding from ₹3 crore to ₹43 crore over the same period. Operating margin improved significantly from 1.8% to 15.9%, driven by higher scale and efficiency. Net profit surged from ₹1 crore to ₹31 crore, reflecting better cost control and top-line growth. This upward trajectory aligns with management's focus on operational strengthening ahead of the merger integration.
🔮 Management Outlook & What's Next
Management has not provided explicit forward guidance on revenue or margins in the filings, but emphasized that the merger with Vindhya Telelinks is central to future growth, contingent on NCLT approval and ongoing compliance. The new Manager, Somesh Laddha, brings 20+ years of finance and compliance experience to ensure regulatory and operational continuity. The company highlighted the importance of maintaining SEBI consent for any scheme modifications, indicating a disciplined, compliance-first approach to execution.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 30 | 30 | 30 | 30 |
| Reserves | 223 | 232 | 251 | 240 |
| Borrowings | 111 | 148 | 131 | 112 |
| Total Liabilities | 416 | 472 | 464 | 431 |
| Fixed Assets | 128 | 112 | 110 | 120 |
| Investments | 41 | 55 | 51 | 57 |
| Total Assets | 416 | 472 | 464 | 431 |
The balance sheet shows stable equity at ₹30 crore but rising reserves from ₹223 crore (Mar 2025) to ₹251 crore (Mar 2026), indicating retained earnings are being built. Borrowings increased slightly from ₹111 crore to ₹131 crore, while total assets grew from ₹416 crore to ₹464 crore, reflecting asset base expansion. This suggests capital investment is underway, likely tied to merger-related integration or capacity expansion, with a conservative leverage ratio (D/E 0.47) supporting financial flexibility.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2026 |
|---|---|
| Operating | -21 |
| Investing | +12 |
| Financing | +9 |
| Net Cash Flow | -0 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 66.3% | 66.3% | 66.3% | 66.3% |
| FII | 0.0% | 0.0% | 0.0% | 0.0% |
| DII | 0.0% | 0.0% | 0.0% | 0.0% |
| Public | 27.6% | 27.6% | 27.7% | 27.4% |
| # Shareholders | 49,374 | 48,327 | 47,691 | 48,220 |
Promoter holding remains steady at 66.35% across all quarters, signaling confidence and no dilution. Institutional interest is minimal, with FII and DII holdings at 0.02% and 0.01% respectively, showing limited market participation. The number of shareholders has slightly declined from 49,374 (Q2FY26) to 47,691 (Q4FY26), but the company remains widely held among retail investors. No significant selling by promoters or institutions is evident.
⚖️ Peer Comparison — Cables
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| POLYCAB | 1.23 L Cr | 42.9 | 34.1% | — | 0.01 |
| KEI | 43,196 | 43.3 | 23.6% | — | 0.03 |
| STLTECH | 42,368 | 165.9 | 14.6% | — | 0.85 |
| RRKABEL | 27,832 | 45.8 | 32.1% | — | 0.09 |
| FINCABLES | 21,545 | 26.9 | 19.0% | — | 0.00 |
| DIACABS | 17,854 | 90.8 | -58.8% | — | -0.52 |
| UNIVCABLES | 4,950 | 24.8 | 12.5% | — | 0.62 |
| LASERPOWER | 3,684 | — | — | — | 1.14 |
| QUADFUTURE | 2,134 | — | -12.3% | — | 0.29 |
| DYCL | 2,109 | 23.1 | 26.9% | — | 0.09 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Merger execution risk remains elevated due to dependence on NCLT approval and ongoing compliance requirements; any delays or conditions could impact strategic benefits. 2. Low institutional ownership may limit liquidity and investor interest, potentially leading to higher volatility. 3. The company's financial performance is heavily reliant on operational improvements in a capital-intensive sector, making it vulnerable to input cost pressures or demand slowdowns in infrastructure-linked industries.
📋 Recent Filings
- Announcement2026-09-24Birla Cable Ltd announced that its designated persons and immediate relatives are barred from trading company shares from October 1, 2026 until 48 hou…
- Announcement2026-09-07Birla Cable clarified that recent price swings in its shares are purely market-driven and unrelated to undisclosed company actions, confirming all req…
- 🟡 Board Meeting2026-08-14Birla Cable announced receipt of NSE and BSE observation letters with no objection and no adverse observations regarding its proposed merger with Vind…
- 🟡 Board Meeting2026-08-04Birla Cable Limited held its 34th Annual General Meeting on August 3, 2026 at Udyog Vihar, Rewa, Madhya Pradesh. Shareholders approved all six resolut…
- 🟡 Board Meeting2026-08-04Birla Cable Limited announced the appointment of Shri Somesh Laddha as its new Manager for a three-year term starting May 22, 2026 to May 21, 2029, fo…
- 🟡 Board Meeting2026-08-04Birla Cable Limited announced the appointment of Shri Somesh Laddha as its new Manager for a three-year term from May 22, 2026 to May 21, 2029, approv…
- 🟡 Board Meeting2026-08-03Birla Cable Limited held its 34th Annual General Meeting on August 3, 2026 at Udyog Vihar, Rewa. Chairman Harsh V. Lodha presided; directors present i…
- 🟡 Board Meeting2026-08-02The board approved unaudited standalone and consolidated financial results for Q1 June 2026, showing revenue of **₹26,724 crores**, net profit of **₹3…
- 🔴 Corporate Action2026-07-10Birla Cable Limited announced that Friday, July 27, 2026 will be the record date for its 34th Annual General Meeting and for determining eligibility t…
- 🔴 annual report2026-07-10Birla Cable Limited announced that its 2025-26 Annual Report, including the Notice of the 34th Annual General Meeting scheduled for August 3, 2026 at …
🧠 Analyst's Read
Birla Cable is transitioning from a stable but modest growth profile to a potentially higher-growth phase, underpinned by a merger and leadership upgrade. The next critical milestone is NCLT approval of the Vindhya Telelinks scheme, which will determine whether the company can fully capitalize on scale and synergy opportunities. Investors should monitor regulatory progress and management's ability to integrate operations while sustaining margin expansion.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-29.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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