Dynamic Cables Q3 FY22 Results, Net Sales Increase 62% YoY
Dynamic Cables Ltd. [BOM: 540795], manufacturer of power cables, control and other cables has announced its standalone financial results of the company for the period ended December 31, 2021.
Dynamic Cables Q3 FY22 Financials
Dynamic Cables Financial Figures Q3 FY22 V/S Q3 FY21 and Q3 FY22 V/S Q2 FY22
Dynamic cables net sales touched Rs. 143.10 crore in quarter ending December 2021, which was up by 62.02% from Rs. 88.32 crore in quarter ending December 2020. In comparison to 2nd quarter of FY22 net sales increased by 7% from Rs. 133.33 crore in Q2FY22.
Quarterly net profit reached Rs. 9.09 crore in December 2021, which is a huge increase of 4535.17% from Rs. 0.20 crore in December 2020. Whereas net profit of Dynamic cables increased 16% from Rs. 7.85 crore in 2nd quarter of FY22.
Financial Performance of Dynamic Cables of Q3 FY22
Commenting on the overall results, Mr. Ashish Mangal, Managing Director of Dynamic Cables Limited said “This quarter witnessed a comeback of growth in the institutional segment backed by recovery of industrial capex in private sector and Government spending in public sector”.
He also mentioned “As we continuously pass on the price hikes, we were not hit by input cost volatility. Overall inflation in the raw material basket was close to mid-single digits while our blended price hikes were slightly higher than that. We will continue to take pricing action to offset the increase in input cost in the quarters to come”.
Other Financial Metrics of Dynamic Cables
Debtor days of Dynamic cables have increased by 6.25 % to 136 days in March 2021 from 128 of March 2020. Debtor days are the average number of days required for a company to receive payments from its customers.
Inventory days have also increased to 110 days in March 2021 from 58 days of March 2020. Inventory days indicates the average time in days that a company takes to turn its inventory.
Days Payable of Dynamic cables have decreased by 1.4%, touching 67 days in March 2021 from 68 days in March 2020. They indicate the average time (in days) that a company takes to pay its bills and invoices.
About Dynamic Cables Dynamic Cables was incorporated in the year 2007 and is headquartered in Jaipur, Rajasthan. Dynamic Cables was listed on Stock Exchange in December 2017. Dynamic Cables Ltd. is a manufacturer of power infra cables that includes LT, HT, EHV, Power control & instrumentation cables, flexible & industrial cables, solar cables and railway signaling cables. Company has 3 manufacturing plants situated at Jaipur and Reengus. Business operations are managed through corporate office in Jaipur and 5 regional sales offices across India.