Cords Cable Industries Ltd. [NSE: CORDSCABLE, BOM: 532941], one of the leading manufacturers of Instrumentation, Signaling, Control, and LV Power cables in India has announced its financial results for second quarter for FY’ 22.
Cords Cable’s 2nd Quarter Financial Comparison
Financial Figures of Q2 FY22 v/s Q2 FY21
Total income of Cords Cable Industries has increased sharply by 27% reaching ₹ 106.29 Crore in Q2 FY22, increasing from ₹ 83.71 Crore in Q2 FY21.
Net profit of Cords Cable rose drastically by 52% to ₹ 1.52 crore in the quarter ended September 2021 as against ₹ 1 Crore during same quarter last year.
Financial Performance of Q2 FY22 v/s Q1 FY22
The consolidated revenues in second quarter of FY22 is up by 20% in comparison to ₹ 88.67 crore revenues reported in Q1 of FY22.
Net Profit of the company in Q2 FY22 has gone up by 5 % at ₹ 1.52 Crore as compared to ₹ 1.45 Crore in Q1 FY22.
Cords Cable’s Financial Performance and Demand Scenario
Expressing views on results and future prospects in an interaction with CableCommunity.com, Mr. Naveen Sawhney, Chairman & MD, Cords Cable Industries Ltd. said “Our second quarter performance was definitely much better than the performance of the corresponding quarter of the last financial year. We have come out from the effect of Covid and going forward we are seeing a healthy growth. Overall we our full confident that we shall be in a position to do slightly better than the pre-Covid level“.
Mr. Sawhney further added “As far as demand is concerned from all the sectors per-dominantly hydrocarbons, steel, cement, metro, rather every sector we are seeing a pent-up demand, and going forward another four-five years we are hopeful that healthy demand is going to be there. So, we can expect a double digit growth from next financial year onwards”.
Expressing views on results in an interaction with CableCommunity.com, Mr. Sandeep Kumar, CFO, Cords Cable Industries Ltd. said “Post Q1FY22, the recovery has been much stronger with healthy addition in company’s order book on the back of new capex announcement by private as well as public enterprises expecting a steady demand going ahead”.
He also said, “Looking at the half yearly performance and orders in hand, we are foreseeing that, we would cross pre-Covid level”.
About Cords Cable Industries Limited: Cords was established in 1987, headquartered in New Delhi (India). Cords Cable manufactures Instrumentation cables, Control cables, Thermocouple cables, Power cables besides all other Special Tailor-made cables to provide solutions for various connectivity requirements, mainly for the industrial segments. Cords is listed on BSE and NSE stock exchanges. Cords has two manufacturing units based at Chopanki and Kahrani, near Delhi.