Cords Cable Industries Ltd (CORDSCABLE)
🎯 Key Takeaways
- Cords Cable Industries Ltd is in a stable growth phase, characterized by consistent profitability, healthy margins, and disciplined capital allocation. Management is focused on operational execution and shareholder returns, with no major strategic shifts or expansion announcements.
- Revenue declined 7.4% QoQ to ₹247 in Q1FY27.
- ⚠️ Revenue growth is modest and appears to be plateauing, with no new order disclosures to indicate a pickup in demand.
📖 The Story
Cords Cable Industries Ltd is in a stable growth phase, characterized by consistent profitability, healthy margins, and disciplined capital allocation. Management is focused on operational execution and shareholder returns, with no major strategic shifts or expansion announcements. The company maintains a conservative balance sheet and has consistently delivered strong ROCE, indicating efficient capital use.
📰 What's Happening
In Q1 FY2026, the company reported revenue of ₹247 lakhs, up from ₹226 lakhs in the same quarter last year, with profit before tax at ₹1,054.75 lakhs. The board approved the AGM for September 28, 2026, declared a dividend payable by October 27, 2026, and reappointed GVKN & Associates as auditors for five years. Remote e-voting will be available from September 25 to 27, 2026. This follows a pattern of quarterly dividend declarations and structured shareholder engagement, reinforcing a shareholder-friendly approach.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 226 | 226 | 236 | 267 | 247 |
| Operating Profit | 11 | 11 | 12 | 14 | 13 |
| OPM % | 4.9% | 5.0% | 5.1% | 5.2% | 5.3% |
| Net Profit | 4 | 4 | 5 | 8 | 8 |
| EPS | ₹2.97 | ₹2.74 | ₹3.78 | ₹6.39 | ₹6.01 |
Revenue has shown sequential improvement from ₹226 lakhs in Q3 FY2025 to ₹247 lakhs in Q1 FY2026, with operating profit margin stabilizing around 5.2-5.3%. Net profit remains flat at ₹8 lakhs quarter-on-quarter, but EPS has improved to ₹6.01 from ₹2.74 a year ago, reflecting consistent earnings growth. Margins are stable, indicating no significant cost pressure, and profitability is being sustained without major capital intensity.
🔮 Management Outlook & What's Next
Management has not provided forward-looking guidance beyond operational continuity and shareholder return plans. The focus remains on executing core business activities and ensuring compliance with regulatory timelines, including AGM and dividend disbursement. No new product lines, capacity expansions, or market entries were disclosed in recent filings, suggesting a conservative and steady operational approach.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 13 | 13 | 13 | 13 |
| Reserves | 162 | 170 | 177 | 189 |
| Borrowings | 76 | 103 | 101 | 103 |
| Total Liabilities | 371 | 421 | 435 | 490 |
| Fixed Assets | 89 | 102 | 102 | 102 |
| Investments | 2 | 2 | 2 | 2 |
| Total Assets | 371 | 421 | 435 | 490 |
The balance sheet shows a stable capital structure with equity held at ₹13 crores and reserves growing from ₹170 crores to ₹189 crores over two years, indicating retained earnings. Borrowings remain low and stable at around ₹100-103 crores, with total assets increasing to ₹490 crores as of March 2026. This reflects prudent leverage management and reinvestment of profits without over-reliance on debt.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | +14 |
| Investing | -16 |
| Financing | +2 |
| Net Cash Flow | +0 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 51.9% | 52.4% | 52.5% | 52.5% |
| FII | 1.3% | 1.5% | 1.4% | 1.3% |
| DII | 0.1% | 0.6% | 0.6% | 0.6% |
| Public | 41.9% | 40.7% | 40.8% | 40.5% |
| # Shareholders | 19,036 | 18,506 | 18,098 | 18,046 |
Promoter holding remains stable at 52.45% over the last four quarters, with no signs of dilution. FII and DII holdings have slightly increased, from 1.29% to 1.42% and 0.56% to 0.59% respectively, suggesting growing institutional interest. The number of public shareholders has marginally declined, but the shareholding pattern remains stable with no significant exits or accumulations.
⚖️ Peer Comparison — Cables
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| POLYCAB | 1.39 L Cr | 48.1 | 34.1% | 24.2% | 0.01 |
| KEI | 53,536 | 53.7 | 23.6% | 17.2% | 0.03 |
| STLTECH | 37,432 | 146.6 | 14.6% | 11.3% | 0.85 |
| RRKABEL | 33,146 | 54.5 | 32.1% | 23.6% | 0.09 |
| FINCABLES | 19,073 | 23.8 | 19.0% | 14.6% | 0.00 |
| DIACABS | 18,233 | 92.8 | -58.8% | -21.9% | -0.52 |
| UNIVCABLES | 5,729 | 28.6 | 12.5% | 10.6% | 0.62 |
| LASERPOWER | 4,410 | — | — | — | 1.14 |
| DYCL | 2,390 | 26.2 | 26.9% | 19.9% | 0.09 |
| ADVAIT | 2,375 | 40.4 | 42.0% | 32.8% | 0.24 |
⚠️ Risk Factors
1. Revenue growth is modest and appears to be plateauing, with no new order disclosures to indicate a pickup in demand. 2. Operating profit remains flat despite revenue growth, raising concerns about margin sustainability if input costs rise. 3. High promoter ownership may limit float liquidity and increase vulnerability to concentrated control. 4. No disclosed expansion or diversification plans could constrain long-term growth potential.
📋 Recent Filings
-
Announcement 13 August 2026Cords Cable Industries announced the appointment of M/s GVKN & Associates as its new statutory auditors for a five-year term starting after the upcomi...
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🟡 Board Meeting 13 August 2026Cords Cable Industries announced unaudited Q1 FY2026 results showing revenue of [amount not verified], up from [amount not verified] in Q1 FY2025, wit...
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🔴 Corporate Action 13 August 2026Cords Cable Industries announced its unaudited Q1 FY2026 results, approved the September 28, 2026 AGM with a record date of September 21, 2026, declar...
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Announcement 13 August 2026Cords Cable Industries announced unaudited Q1 FY2026 results showing revenue of [amount not verified], up from [amount not verified] in Q1 FY2025, wit...
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share transfer 6 July 2026Cords Cable Industries Limited received a SEBI-mandated confirmation certificate from its RTA, M/s MUFG Intime India Private Limited, confirming demat...
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🔴 Corporate Action 30 June 2026Cords Cable Industries announced a dividend of Rs 1.20 per share (12% on Rs 10 face value) for FY2026, payable after AGM approval. Shareholders must s...
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Financial Results 27 June 2026Cords Cable Industries Limited announced that its trading window will close on 1 July 2026 for insiders and designated employees until 48 hours after ...
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Announcement 16 June 2026No summary available
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🔴 Corporate Action 28 May 2026No summary available
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Announcement 8 May 2026Cords Cable Industries Limited announced it has dispatched shareholder communications regarding KYC updates, the second 100-day 'Saksham Niveshak' cam...
🧠 Analyst's Read
Cords Cable Industries demonstrates financial stability and consistent shareholder returns, but lacks visible catalysts for near-term growth. Investors should monitor upcoming AGM outcomes, dividend sustainability, and any shifts in order book or margin trends in future quarters.
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 2026-09-01.
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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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