Cords Cable Q1 FY-25 Financials: Revenue Up 28%, PAT Zooms 56% YoY

Cords Cable Industries Ltd. [NSE: CORDSCABLE, BOM: 532941], a Delhi-headquartered manufacturer of power, control and instrumentation cables, has announced its financial results for Q1 of FY-25.

Cords’ Excellent Financial Performance During Q1 of FY-25

YoY Comparison of Cords’ Q1 Figures: Q1 FY-25 vs. Q1 FY-24

For the quarter ended 30th June 2024, Cords reported a revenue of Rs. 172.96 crore. This figure shows a stellar 27.87% Year-over-Year (YoY) growth from the company’s Q1 FY-24 revenue of Rs. 135.26 crore.

Considering Profit After Tax (PAT), Cords clocked Rs. 2.88 crore as profit for Q1 of FY-25 against Rs. 1.85 crore during Q1 of FY-24. This represents a remarkable growth by 55.68% YoY.

Proportionally, Earnings Per Share (EPS) of the company rose to Rs. 2.22 during Q1 of FY-25 from Rs. 1.41 which was reported for Q1 of FY-24.

QoQ Comparison of Cords’ Financial Numbers: Q1 FY-25 vs. Q4 FY-24

On a Quarter-over-Quarter (QoQ) basis, Cords’ revenue fell slightly by 3.49% from Rs. 179.22 crore, which was logged for Q4 of FY-24.

PAT of the company showed a QoQ downward trend, shrinking by 10.84% from Rs. 3.23 crore which was reported for Q4 of the previous fiscal.

“Highly Satisfactory” Performance by Cords, Healthy Order Book across Sectors – Management

Speaking to CableCommunity about the company’s Q1 FY-25 financial performance, Mr. Sandeep Kumar, Chief Financial Officer of Cords Cable Industries, described the quarterly results as “highly satisfactory”. He explained, “The company has achieved sustainable growth in its top-line, however volatility in raw material costs is putting pressure on profit margins”. He added that despite this, the company’s bottom-line has shown improvement owing to economies of scale.

Mr. Sandeep Kumar added that Cords “…maintained a healthy order book across all industry sectors, providing a long-term view of business growth”.

In its Annual Report for FY-24, the company had mentioned oil and gas, railways and metro railways, building and factory automation, metals, airport expansions, renewable energy, and infrastructure, among others, as key areas of opportunity for the wire and cable industry.

Brief View of Cords’ Stock Market Performance During Q1 of FY-25

Cords’ stock exhibited a robust performance in Q1 of FY-25. The company’s share price had soared by 30.37% to Rs. 236.94 apiece on 28th June 2024 from Rs. 181.75 apiece on 1st April 2024. This growth represents the positive outlook of Cords’ investors towards the company. Further, it was in Q1 of FY-25 that the company’s share price hit Rs. 269.76 apiece on 24th June 2024, which is the highest-ever since Cords Cable Industries went public in February 2008.

About Cords Cable: Delhi-headquartered Cords Cable Industries was established in 1987, and has manufacturing facilities at Chopanki and Kahrani in Rajasthan. The company’s portfolio comprises Instrumentation cables, Thermocouple cables, Power cables, Control cables, and other Special cables to provide solutions for industrial connectivity requirements such as Railway Signalling, SCADA, DCS, and other plant instrumentation requirements. The company’s turnover for FY-24 stood at Rs. 627.74 crore.