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Cords Cable’s FY-24 Top-Line Grows 19% to Cross 600 Cr., Profits Soar by 39% YoY

Cords Cable logo

Cords Cable Industries Ltd. [NSE: CORDSCABLE, BOM: 532941], a Delhi-headquareterd manufacturer of power, instrumentation and control cables, has posted its financials for Q4 of FY-24 and for the entire FY-24.

Cords Cable’s Stock Gains 6% Post Announcement of FY-24 Results

Cords’ share price was up by 6.07% after the company announced its financial results for Q4 of FY-24 and for the entire FY-24. On the day of announcement of results, the company’s shares were trading at Rs. 207.50 apiece against Rs. 220.10 apiece on the next trading day.

Cords Cables’ Standalone Financial Figures for Q4 of FY-24 & FY-24

YoY Comparison of Cords’ Financials: Q4 FY-24 vs. Q4 FY-23 & FY-23 vs. FY-24

Comparison of Cords’ Revenue: Q4 FY23 vs. Q4 FY24 vs. Q3 FY24 & FY23 vs. FY24

For Q4 of FY-24, Cords Cable Industries reported a revenue of Rs. 179.22 crore, which reflects an Year-over-Year (YoY) increase of 26.23% from the company’s Q4 FY-23 revenue of Rs. 141.98 crore. Profit After Tax (PAT) of the company was reported as Rs. 3.23 crore for Q4 of FY-24, which is YoY 52.36% higher than its profit of Rs. 2.12 crore for Q4 of FY-23.

Considering the entire year, Cords’ top line for FY-24 stood at Rs. 627.74 crore. This figure represents a remarkable growth of 19.28% from the Rs. 526.26 crore revenue that the company earned during FY-23. Profit of the company also echoed the same upward trend, growing by 39.47% to Rs. 10.07 crore in FY-24 from Rs. 7.22 crore in FY-23.

Earnings Per Share of the company swelled to Rs. 2.51 in Q4 of FY-24 from Rs. 1.58 in Q4 of FY-23. For the year ended 31st March 2024, the company’s EPS stood at Rs. 7.76, reflecting a significant increase from its Rs. 5.52 EPS during the 2022-23 fiscal.

It is interesting to note that Cords Cable Industries had entered the prestigious ‘500 Cr. Club’ in terms of turnover in FY-23. Cords’ impressive growth during FY-24 has established its position more firmly in the club, and has strengthened its credentials among the company’s shareholders.

Comparison of Cords’ PAT: Q4 FY23 vs. Q4 FY24 vs. Q3 FY24 & FY23 vs. FY24

QoQ Comparison of Cords’ Financials: Q4 FY-24 vs. Q3 FY-24

On a Quarter-over-Quarter basis, Cords’ top-line grew by 6.72% from Rs. 167.93 crore which was reported for Q3 of FY-24. PAT of the company also exhibited an upward trajectory, increasing by 9.49% from Rs. 2.95 crore which was clocked during Q3 of FY-24

Board of Directors Recommends FY-24 Dividend to Shareholders

Cords’ Board of Directors has recommended paying a 10% final dividend (for FY 2023-24) to the company’s shareholders. This translates to Re. 1 per equity share of the company. If announced at the upcoming Annual General Meeting (AGM), this dividend will be paid out to the shareholders within a period of 30 days from the conclusion of the AGM.

“FY-24 was a Very Good Year, Expect Good Demand in FY-25” – Cords MD

Naveen Sawhney CMD Cords Cable Industries Ltd
Cords’ CMD, Mr. Naveen Sawhney

While speaking to about the company’s FY-24 performance, Mr. Naveen Sawhney, Managing Director of Cords Cable Industries Ltd., said, “FY2023-24 again was a very good year for Cords Cable Industries. We achieved a top-line of approximately Rs. 630 crore which is about 19% higher than the previous financial year. Profit After Tax was higher by about 40% compared to previous year”.

Mr. Sawhney added that for the financial year 2024-25, the company expects a good demand for its complete range of products from domestic as well as overseas customers. “We expect a decent growth in exports from Middle East and Africa”, said Mr. Sawhney.

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.