JD Cables Ltd (544524) — concall transcript | 31 March 2026

JD Cables reported 45.67% YoY revenue growth to INR 365 crores for FY26, with EBITDA up 40% and PAT up 44%. Management expects 70-80% utilization of new capacity in FY27, targeting 12-13% EBITDA margins and 50-60% revenue growth. Capex of INR 20-30 crores will fund expansion, while debt plans support working capital and EPC funding. Cash flow faced pressure with a INR70 crore deficit due to growth investments and longer inventory cycles. The order book stands at INR515 crores, with over INR1,000 crores in tendered work. EPC revenue is projected to surge from INR30 crores to INR200 crores by FY27, driven by infrastructure demand in West Bengal and new capacity in Dankuni.