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Delton Cables Q3 FY-24 Results: YoY Revenue up 62%, Capacity Expansion Planned

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Delhi-based cable and switchgear manufacturer, Delton Cables Limited [BOM: 504240], has announced its Q3 FY-24 financial figures. Along with this the company also announced plans to expand cable manufacturing at its Faridabad unit.

Delton to Expand Cable Manufacturing Capacity by 1.5 Times by October 2024

Delton Cables announced a significant expansion of its cable manufacturing capacity in its stock filing dated January 30, 2024.

The company plans to add production capacity of 4,500 Km per month to its current capacity of 3,000 Km per month, bringing its total output capability to 7,500 Km per month by October 2024. This ambitious expansion represents an increase by 1.5 times to the company’s existing cable manufacturing capacity. This expansion, estimated to cost around Rs. 10 crore, will be funded through a combination of loan and the company’s internal accruals.

Explaining the rationale behind this expansion, Delton Cables’ stock filing stated that the proposed expansion targets to align production at the company’s Faridabad manufacturing unit with the anticipated rise in demand.

Delton Cables’ Q3 FY-24 Financial Results

YoY Comparison of Delton Cables’ Financials: Q3 FY-24 vs. Q3 FY-23

Comparison of Delton’s Revenue: Q3 FY-23 vs. Q3 FY-24 vs. Q2 FY-24

Delton Cables recorded a revenue of Rs. 109.67 crore from operations during Q3 FY-24, which reflects a steep increase of 62.02% from Rs. 67.69 crore earned during Q3 of FY-23. Further, Profit After Tax (PAT) of the company showed a significant increase of 12.31% to Rs. 3.74 crore in Q3 of FY-24 from Rs. 3.33 crore clocked during Q3 of FY-23.

Consequently, Earnings Per Share (EPS) of the company was Rs. 4.33 in third quarter of FY-24, up from Rs. 1.82 during Q3 of FY-23.

Comparison of Delton’s PAT: Q3 FY-23 vs. Q3 FY-24 vs. Q2 FY-24

QoQ Comparison of Delton Cables’ Financials: Q3 FY-24 vs. Q2 FY-24

On a Quarter-over-Quarter (QoQ) basis, Delton’s revenue from operations jumped by 22.03% from Rs. 89.87 crore reported for Q2 of FY-24.

Delton Cables’ PAT exhibited the most remarkable growth QoQ, with Q3 profit soaring to 2.38 times of the company’s Q2 PAT in FY-24. Delton’s Q2 FY-24 PAT stood at Rs.1.57 crore.

Delton Cables Reports Strong Revenue Growth in FY-24

Delton Cables demonstrated impressive financial performance throughout FY-24, with revenue consistently increasing across each quarter. Starting at Rs. 69.53 crore in Q1 FY-24, the company’s revenue recorded a surge of 29.25% by the end of Q2 of FY-24. Further, Delton’s Q3 FY-24 revenue was 57.73% higher as compared to the company’s revenue for Q1 of FY-24, highlighting a positive growth trajectory.

About Delton Cables Ltd.: 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.