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Delton Cables FY-24 Financials: Revenue Up 47.29%, PAT Grows to Over 14 Cr

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Delton Cables Limited [BOM: 504240], a Delhi-headquartered cable manufacturing company, has announced its financial results for Q4 of FY-24 and the entire FY-24.

Delton Cables’ FY-24 Financial Performance

YoY Comparison of Delton Cables’ Financial Figures: Q4 FY-24 vs. Q4 FY-23 & FY-24 vs. FY-23

Delton cables Revenue Comparison: Q4 FY-23 vs. Q4 FY-24 vs. FY-23 vs. FY24

Delton Cables reported a revenue of Rs. 131.78 crore from operations during Q4 of FY-24 against Rs. 80.50 crore which was logged as top-line for Q4 of FY-23. This represents a remarkable growth of 63.70% YoY. Further, the company recorded Profit After Tax (PAT) of Rs. 6.31 crore during Q4 of FY-24 against net loss of Rs. 4.33 crore during the last quarter of FY-23.

Delton cables Revenue Comparison: Q4 FY-23 vs. Q4 FY-24 vs. FY-23 vs. FY24

For the entire financial year 2023-24, the company’s revenue from operations grew by 47.29% to Rs. 400.86 crore from Rs. 272.15 crore during FY-23. PAT of the company during FY-24 jumped to Rs. 14.66 crore which is over 25 times (25.28x) the company’s FY-23 profit of Rs. 0.58 crore.

Earnings Per Share (EPS) of the company during Q4 of FY-24 stood at Rs. 7.31, and at Rs. 16.96 for the entire FY-24.

The company mentioned in its investor presentation for FY-24 financials, that there was a healthy demand for cables from EPC and Railways sectors during financial year 2023-24.

QoQ Analysis of Delton Financial Performance: Q3 of FY-24 vs. Q4 of FY-24

Delton cables Revenue: Q3 FY-24 vs. Q4 FY-24
Delton cables PAT: Q3 FY-24 vs. Q4 FY-24

As per Delton Cables’ press release for its Q4 FY-24 financials, the company recorded its highest-ever quarterly revenue during the quarter ended 31st March 2024.

On a Quarter-over-Quarter (QoQ) basis, Delton’s revenue from operation jumped by 20.16% from Rs. 109.67 crore during third quarter of FY-24. PAT of the company increased by 68.72% from Rs. 3.74 crore logged during Q3 of 2023-24 fiscal.

“Past Few Years have been Truly Transformative for the Company”- Delton Cables MD

Commenting on the FY24 results, Mr Vivek Gupta, Managing Director of Delton Cables, said Although Delton has a glorious history of over 75 years as a pioneer in low voltage and telecom cables, the past few years have been truly transformative for the company.

In its press release for Q4 FY-24 financials, Delton Cables mentioned that following the COVID-19 pandemic, the company has diversified its product portfolio and started catering to cable needs of EPC, Railways and IT/Telecom sectors at ‘high success rate’.

The company mentioned that during FY-24 Delton Cables generated Rs. 159 crore from the sales of project cables against Rs. 97 crore generated during FY-23. Further, the company recorded sales of Rs. 170 crore from railway cables in FY-24 as compared to Rs. 122 crore in FY-23. Telecom cables contributed Rs. 50 crore in the company’s revenue during FY-24 and Rs. 41 crore during FY-23. Further, Delton’s products other than cables contributed Rs. 22 crore in the company’s revenue in FY-24 against Rs. 12 crore during FY-23.

The company is also expanding its sales presence through additions to its dealers/distributors network.

Additionally, Delton Cables has undertaken debottlenecking at its existing manufacturing facility to enhance capacity utilization. The company mentioned that over the past two years, Delton Cables has invested about Rs. 8.5 crore in debottlenecking operations, resulting in capacity utilization of 76% in FY-24 in contrast to 58% in FY-23, and 44% in FY-22.

Mr. Gupta further mentioned, “While Delton continues to reinvent itself, the company is setting up new manufacturing facilities in coming months for EPC segment and LAN & Fibre cables.

The company has set a target of generating a revenue Rs. 2,500 crore for FY-30. The company mentioned, “Our company benefits from strong tailwinds, propelling us toward long-term growth for our investors”.

About Delton Cables Limited: Delton Cables Ltd. was founded in 1948. The company manufactures electrical cables, communication cables, and switchgear products. Delton Cables addresses cable and switchgear requirements of several sectors, including power and mining, oil and gas, defence, telecommunication, cement and steel, and infrastructure.