Cords Cable’s FY23 Results: Revenue Reaches 526 Cr, Up 20.15%
Cords Cable Industries Ltd. [NSE: CORDSCABLE, BOM: 532941], an Indian cable manufacturer, has announced its financials for the quarter and year ended 31st March 2023.
Cords Cable’s Standalone Financial Performance
YoY Comparison of Cords’ Financials: Q4 FY-23 vs. Q4 FY-22 & FY-23 vs. FY-22
During the quarter ended 31st March 2023, Cords Cable Industries clocked a revenue of Rs. 141.98 crore from operations. Compared to its Rs. 133 crore revenue reported for Q4 of FY-22, this reflects a growth of 6.75% Year-over-Year (YoY).
Profit After Tax (PAT) of the company for Q4 FY23 stood at Rs. 2.12 crore, which is 13.98% higher than its Rs. 1.86 crore profit for Q4 of FY-22.
Considering the entire financial year FY23, Cords reported a revenue of Rs. 526.26 crore. When compared to the company’s top-line of Rs. 437.99 crore earned during 2021-22, a remarkable growth of 20.15% is evident.
PAT also rose by 13.34% to Rs. 7.22 crore in FY-23 from Rs. 6.37 crore reported for FY-22.
Earnings Per Equity Share (EPS) of the company grew substantially by 13.67% to Rs. 1.58 during Q4 of FY-23 from Rs. 1.39 reported for Q4 of FY-22.
Comparing the EPS for FY-23 against that for FY-22, we see a jump of 12.42% to Rs. 5.52 from Rs. 4.91.
QoQ Comparison of Cords’ Financial Figures: Q4 FY-23 vs Q3 FY-23
On a Quarter-over-Quarter (QoQ) basis, the company’s revenue exhibited a healthy growth of 9.76% from its Rs. 129.36 crore top line for the quarter ended 31st December 2022.
PAT of the company too followed an upward trajectory, exhibiting an impressive growth of 29.27% from Rs. 1.64 crore bottom-line for Q3 of the 2022-23 fiscal.
Insights of the Company on its Financial Performance
Commenting on the company’s financial performance, Mr Sandeep Kumar, CFO of Cords Cable Industries, said, “In spite of Global headwinds, high volatility in commodities prices and high-interest rate scenario, the company performance has been encouraging. The company has achieved 20% growth in its turnover and with this joined the club of prestigious companies of having Rs. 500 cr plus turnover.”
He further added that the company has consolidated its marketing strength by adding some reputed business groups to its customer list. The company has also strengthened its manufacturing capability by adding new machineries having latest technology and also expanding its products profile in order to enter new segments.
About Cords Cable Industries Ltd.: 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.