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Universal Cables Announces Q3 FY-24 Financials: Revenue Drops 21% YoY, PAT Remains Flat

Universal Cables Unistar logo

Universal Cables Limited [NSE: UNIVCABLES, BOM: 504212] (also known as Unistar), part of the MP Birla Group, and an Indian cable manufacturer, has posted its financial results for Q3 of FY-24.

Unistar’s Q3 FY-24 Standalone Figures

Universal Cables posted a revenue of Rs. 466.54 crore from its operations during Q3 of FY-24, and a corresponding Profit After Tax (PAT) of Rs. 11.11 crore.

Earnings Per Share (EPS) of the company stood at Rs. 3.20 for Q3 of FY-24.

Universal Cables’ Q3 FY-24 Consolidated Financials

Universal Cables’ Revenue Comparison: Q3 FY23 vs. Q3 FY24 vs. Q2 FY24

YoY Analysis of Unistar’s Q3 Numbers: Q3 FY-24 vs. Q3 FY-23

Year-over-Year (YoY) analysis of Unistar’s Q3 revenue exhibits a 21.06% decrease, to Rs. 466.54 crore in FY-24 from Rs. 590.99 crore logged during FY-23.

PAT remained almost flat YoY, dropping slightly by 1.84% to Rs. 23.96 crore in Q3 of FY-24 from Rs. 24.41 crore clocked during Q3 of FY-23.

Universal Cables’ PAT Comparison: Q3 FY23 vs. Q3 FY24 vs. Q2 FY24

EPS also decreased slightly to Rs. 6.90 in Q3 of FY-24 from Rs. 7.04 during Q3 of FY-23.

QoQ Comparison of Universal Cables’ Financial Results: Q3 FY-24 vs. Q2 FY-24

On a Quarter-over-Quarter (QoQ) basis, Unistar’s revenue fell by 5.63% from Rs. 494.39 crore which had been reported for Q2 of FY-24.

PAT of the company, however, showed a contrasting QoQ trend, as Unistar’s Q3 FY-24 PAT was 2.06 times of its Q2 FY-24 PAT of Rs. 11.65 crore.

Unistar’s Revenue Shrinking YoY Since Q4 FY-23

Upon analysing the company’s revenue over the past few quarters, it is evident that Unistar’s top line has been shrinking on a YoY basis since Q4 of FY-23. This decrease had been confined to single-digit figures up till Q3 of FY-24, before it breached the 20% mark.

About Universal Cables Limited: Established in 1962, Universal Cables Limited is a major Indian manufacturer of Electrical Cables. These include Low Voltage, Medium Voltage, and Extra High Voltage XLPE Power Cables up to 500 KV grade, PVC and Rubber Insulated Power Cables upto 11 KV grade, Control and Instrumentation Cables, and more. The company also deals in the manufacturing of Power Capacitors in Low Tension / Low Voltage and high Tension / High Voltage ranges. The company also has an EPC division to execute turnkey contracts.