# Dynamic Cables share price today (Dynamic Cables Ltd, NSE: DYCL)

> Dynamic Cables share price today: ₹351.75 at the NSE close on 4 November 2026, down 4.0% in a year. Dynamic Cables (NSE: DYCL) is worth ₹1,706 crore, trades at a P/E of 18.3 and has closed between ₹252.05 and ₹487.85 over the past 52 weeks. > Dynamic Cables Ltd's earnings have grown faster than its share price. Earnings per share grew +30.5% in a year while the price moved −4.0%. DYCL · Cables - Power · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/dynamic-cables-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹351.75 (−4.0% in a year)
- P/E: 18.3× (higher than 63% of the last 8.9 years)
- Revenue (Sep 2026): ₹363 Cr (+28.7% on a year ago)
- Profit (Sep 2026): ₹22.0 Cr (+10.0% on a year ago)
- Operating margin: 10.0% (−1.0 points on a year ago)
- ROCE: 26%, FY26
- ROIC: 20.6%, against a 12.0% cost of capital: +8.6 points

The main question: yearly earnings per share moved +30.5% while the share price moved −4.0%. ## What is the Dynamic Cables share price today? Dynamic Cables Ltd's share price was ₹351.75 at the close on 4 November 2026. It has been rising for 15 weeks. That is 8.9% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹252 and ₹488, and at that close it sat 42% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 3 weeks running. Over the last 8.9 years the share price moved +1,121% while the NIFTY 500 moved +134%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 16 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Dynamic Cables this quarter? Two changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare) and highest quarterly revenue in 16 quarters. 1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare) In the September 2026 quarter revenue was ₹363 crore, +28.7% on a year earlier. Why: Revenue rose mostly because prices were higher. Sales volume grew about 6%, and price made up the rest. Next results: check the new plant's first contribution in the coming half. From the earnings call on 27 Oct 2026. 2. Highest quarterly revenue in 16 quarters Revenue of ₹363 crore in the September 2026 quarter is the highest of the last 16 quarters. Why: The quarter was the highest because prices were higher. Sales volume grew about 6%, and price made up the rest. From the earnings call on 27 Oct 2026. ## What are Dynamic Cables' latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Dynamic Cables reported revenue of ₹363 crore, up 28.7% from ₹282 crore a year earlier, and a profit of ₹22.0 crore, up 10.0% from ₹20.0 crore. ### Dynamic Cables results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹363 crore | ₹282 crore | +28.7% |
| Profit | ₹22.0 crore | ₹20.0 crore | +10.0% |
| Earnings per share | ₹4.57 | ₹4.05 | +12.8% |
| Operating margin | 10.0% | 11.0% | −1.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Dynamic Cables' management discussed these results on a call held on 27 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Dynamic Cables share price history? Dynamic Cables closed at ₹351.75 on 4 November 2026, down 4.0% from ₹366.25 a year earlier (7 November 2025) and up 933.0% over five years. Its highest weekly close since December 2017 was ₹520.10 on 3 January 2025. ### Dynamic Cables share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹317.90 | +10.6% |
| 1 month ago · 1 Oct 2026 | ₹428.00 | −17.8% |
| 6 months ago · 8 May 2026 | ₹421.20 | −16.5% |
| 1 year ago · 7 Nov 2025 | ₹366.25 | −4.0% |
| 3 years ago · 3 Nov 2023 | ₹225.60 | +55.9% |
| 5 years ago · 4 Nov 2021 | ₹34.05 | +933.0% |
| Earliest weekly close in our records · 15 Dec 2017 | ₹28.80 | +1,121.4% |
| Highest weekly close since December 2017 · 3 Jan 2025 | ₹520.10 | −32.4% |
| Lowest weekly close since December 2017 · 23 Apr 2020 | ₹9.68 | +3,533.8% |
| 52-week high (weekly close) · 4 Sep 2026 | ₹487.85 | −27.9% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹252.05 | +39.6% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (466 weekly closes from 15 December 2017 to 4 November 2026.)

## What is the latest news on Dynamic Cables? 4 Nov 2026: Dynamic Cables closed at ₹351.75, up 10.6% on the week and down 17.8% on the month. 27 Oct 2026: Dynamic Cables held its results call for July to September 2026. Management guided: Long-term value growth around 20% yearly growth. ### Earlier

- Results for July to September 2026: Revenue up 28.7% and profit up 10.0% on a year earlier. - 10 Jul 2026: ex-date for a dividend of ₹0.50 a share. - 11 Jul 2025: Bonus issue: 1 new share for every 1 held (ex-date). ## What dividend does Dynamic Cables pay? Dynamic Cables paid ₹0.50 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.14% at the ₹351.75 close on 4 November 2026. The last was a dividend of ₹0.50 a share, ex-date 10 July 2026. ### Dynamic Cables dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 10 Jul 2026 | ₹0.50 | Dividend |
| 23 Jun 2025 | ₹0.50 | Dividend |
| 24 Jul 2024 | ₹0.50 | Dividend |
| 2 Aug 2023 | ₹0.50 | Dividend |
| 12 Aug 2022 | ₹0.50 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 4 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Dynamic Cables Ltd paid out 3% of its profit as dividends in FY26, and it paid a dividend in 9 of its last 13 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## What did Dynamic Cables management say on the latest results call? On the call for July to September 2026, held on 27 October 2026, Dynamic Cables' management guided: Long-term value growth around 20% yearly growth. > “Just to clarify, as a matter of fact and as a matter of corporate discipline, it should not increase to more than 15% of EBITDA. That is the philosophy of managing the finance cost.”
> Ashish Mangal, on the call for July to September 2026

### What management guided

- Operating margin 10-11% maintainable. - Finance cost below 15% of operating profit with current half well within limit. - New-plant revenue potential ₹240 crore to ₹250 crore on ₹40 crore to ₹45 crore block at 6-7x turn. - New-plant ramp to optimum over next 3-4 quarters. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/31744/Conference Call/CC-Oct26.pdf). (From the call for July to September 2026, 27 October 2026.)

## What is Dynamic Cables' order book? Order Book at June 30, 2026 Stood at ₹811 Cr. ✓ fact

(Our read after the latest results, written 22 August 2026.)

## What could change the Dynamic Cables story? What are the risks? A failure of the greenfield plant to commence commercial dispatches by October to December 2026 accompanied by quarterly volume growth remaining below 5%, or operating margins dropping below 9.5% indicating loss of pricing power. ### Each change stops working if

- : Trial production faces further equipment delivery delays or utilization fails to ramp above 60% by FY28. - : Solar park capital spending decelerates or competitive pricing pressure erodes DC cable realization. - : US import tariffs are reinstated above 30% or distributor reorders fail to materialize after trial batches. - : Working capital cycle elongates beyond 110 days requiring fresh debt for inventory financing. ### The main risks

- : Further delays beyond September 2026 would constrain volume growth given current 85% plant utilization. ⚠ estimate
- : Elevated aluminum and PVC prices cause EPC customers to defer long-term contract bookings. ⚠ estimate
- : Cash conversion cycle expanded to 93 days in FY26 as payable days contracted from 96 to 60 days. ⚠ estimate
- : Industry-wide capital spending across the power cable sector could create localized pricing pressure in standard HT cables. ⚠ estimate

(Our read after the latest results, written 22 August 2026.)

## What to watch in Dynamic Cables' next results? When Dynamic Cables reports October to December 2026, these are the 3 checks that show whether the story is still on course. First: New-plant production commencement and initial contribution in coming half - per flagged start and ramp path. - What to check (from the call)
- New-plant production commencement and initial contribution in coming half - per flagged start and ramp path. - Order-book build as new-plant booking commences toward optimum utilization - per flagged expansion over coming quarters. - US and export shipment revival on sea-freight and insurance normalization - per flagged transient drag. ## Which stock lists is Dynamic Cables on? Dynamic Cables is on one of our India lists: Power & green energy stocks. - [Power & green energy stocks Group on the list: Power equipment, transformers and cables](https://www.sectoralpha.in/sectors/power-stocks-india)

## Is Dynamic Cables profitable? Dynamic Cables Ltd earned ₹22.0 Cr of net profit in the Sep 2026 quarter, +10.0% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY26 profit was ₹84.0 Cr. Over 10 years profit has grown 28.2% a year on average. That is 6.1% of the quarter's revenue. The same quarter a year earlier earned ₹20.0 Cr. For the full year, FY26 profit was ₹84.0 Cr (+29.2% on the year before). Why profit moved: revenue changed +28.7% on a year earlier and the margin moved −1.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +21.6% and revenue +22.0%. Profit and revenue are moving at about the same pace. FY27-Q1. revenue ₹349 Cr and profit ₹25 Cr as reported. FY27-Q2. revenue ₹363 Cr and profit ₹22 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## How much revenue does Dynamic Cables make, and is it growing? Dynamic Cables Ltd reported ₹363 Cr of revenue in the Sep 2026 quarter, +28.7% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 16.2% a year on average. The last full year, FY26, came in at ₹1,198 Cr. The last four reported quarters add to ₹1,366 Cr. FY26 revenue was ₹1,198 Cr, +16.9% on the year before. Recent pace: the last four quarters grew +22.0% on average, against 16.2% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +21.2%, against +24.9% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +19.2%, against +39.2% a year (rolling over). FY27-Q1. revenue ₹349 Cr and profit ₹25 Cr as reported. FY27-Q2. revenue ₹363 Cr and profit ₹22 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does Dynamic Cables keep? Dynamic Cables Ltd's operating margin was 10.0% in the Sep 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 3.6% and 11.0%. The latest quarter is within that range. Why this happened. The company has discontinued low-margin railway signaling cables (previously 4% of revenue) and compressed low-voltage conductors (<5% of revenue). Machine capacity has been reallocated to solar renewable cables (expanding from 10% in FY25 to 20% in Q1 FY27) and high-voltage power distribution cables (68% of sales). Solar cable industry demand is projected to grow at 25-30% over the next 3-4 years, supporting durable 10.8-11.0% operating margins. Why the margin moved: operating margin changed −0.9 percentage points on the year while gross margin changed −4.0 points. So the drop came mostly from the gross margin, which means input costs and prices charged. When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold. FY27-Q1. revenue ₹349 Cr and profit ₹25 Cr as reported. FY27-Q2. revenue ₹363 Cr and profit ₹22 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## Is Dynamic Cables' profit turning into cash? Over the last 3 years, 64% of Dynamic Cables Ltd's reported profit came in as cash from its operations, so most of the profit is real cash. In FY26 it brought in ₹62.0 Cr of operating cash against ₹84.0 Cr of profit. After ₹58.0 Cr of spending on assets, ₹4.0 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 64% of profit came in as cash: the cash cycle got 86 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: the bigger use of cash is spending on new assets, at 3.2× depreciation over three years. The next section checks what that spending is building. ## Where does Dynamic Cables' cash go? Dynamic Cables Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 93 days in FY26, down from 179 days in FY21. It spent ₹103 Cr on assets over the last 3 years. Customers take 88 days to pay, and stock sits for 65 days on average. Why this happened. Dynamic Cables is executing a ₹45 Cr greenfield capex that introduces an electron-beam curing facility. Operating at historical asset turnover levels of 6.0-7.0x, this installation will expand peak annual revenue capacity by ₹270-315 Cr. With existing facilities currently operating at ~85% utilization, the new plant provides the physical capacity required to sustain the management framework of 18-20% medium-term growth. Commercial contribution begins in Q4 FY27 and reaches 80-85% optimal utilization within 12-18 months. At FY26 sales of ₹1,198 Cr, each day of that cycle ties up about ₹3.3 Cr, so roughly ₹305 Cr is tied up in the business at any time. FY26: customers took 88 days to pay and stock sat for 65 days, about 2.1 months of sales sitting as stock, for a full cycle of 93 days, shorter than FY21's 179. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 65 days. Customers pay about 88 days after that. Suppliers are paid at 60 days. Together that makes the 93-day cycle. Spending on assets: ₹103 Cr over the last 3 years, against ₹32.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹33.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Dynamic Cables' P/E ratio, and how does it compare with its own history? Dynamic Cables Ltd's P/E is 18.3×, in the middle of its own history: higher than 63% of past readings. Its usual P/E (the middle reading) is 13.3×, over 8.9 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +30.5% while the price moved −4.0%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +59.5% a year; about +54.2% a year came from earnings growth and about +5.3 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Dynamic Cables share price assume? Worked out from its price on 26 August 2026, Dynamic Cables Ltd's share price assumed profit growth of about 13.9% a year. Over the past 10 years its profit actually grew 28.2% a year. Today its P/E is 18.3×, higher than 63% of its own last 8.9 years. This is a one-day reading, taken on 26 August 2026. Every other number on this page, the multiple included, uses the latest price as of 4 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Dynamic Cables business getting better or worse? Dynamic Cables Ltd's business is giving mixed signals. Growth is slowing from a very fast pace: profit growth has eased from +73.7% at its peak to +19.2%, but the business is still expanding, with ROCE steady at 29.6%. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## What is the Dynamic Cables story, and has it been checked? Dynamic Cables Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: MID EXPANSION. Our read, 22 August 2026. From the numbers. Dynamic Cables is situated in the mid-expansion phase of its operating cycle. From the price. Price stage 2, week 15, below its 200-day line, relative strength falling. From the research. Where they disagree. Dynamic Cables is situated in the mid-expansion phase of its operating cycle. What is proven. What is not proven yet. A failure of the greenfield plant to commence commercial dispatches by Q3 FY27 accompanied by quarterly volume growth remaining below 5%, or operating margins dropping below 9.5% indicating loss of pricing power. What would change our mind. A failure of the greenfield plant to commence commercial dispatches by Q3 FY27 accompanied by quarterly volume growth remaining below 5%, or operating margins dropping below 9.5% indicating loss of pricing power. The test written in advance. A failure of the greenfield plant to commence commercial dispatches by Q3 FY27 accompanied by quarterly volume growth remaining below 5%, or operating margins dropping below 9.5% indicating loss of pricing power. Measured by: the thesis as written as stated by the next result. The test written in advance. The test written in advance. Greenfield Commissioning and Ramp-Up Friction. Measured by: Greenfield Commissioning and Ramp-Up Friction Failure to announce commercial production commencement in the Q2 FY27 concall. by the next result. What the company does. Strategic mix shift toward solar cables (20% of revenue) and high-voltage power cables has stabilized operating margins at 10.8-10.9% with 100% metal pass-through contracts. A ₹45 Cr greenfield capex commissioning in September 2026 unlocks ₹270-315 Cr incremental revenue capacity at 6-7x asset turns to support 18-20% annual compounding. What the surface reading misses. The surface reading is: PAT growth of 38.9% indicates accelerating earnings expansion. The research reads it further: Operating profit expanded 40.7% from ₹27 Cr to ₹38 Cr on 33.2% revenue growth, while interest expense stayed flat at ₹3 Cr and tax rate remained constant at 25%, confirming operational flow-through without one-off other income distortion. What the surface reading misses. The surface reading is: Operating margin of 10.9% sits near the 75th percentile of historical range (2.6% to 14.1%), indicating elevated profitability that could be vulnerable to mean-reversion. The research reads it further: The margin expansion from 9-10% historical levels is driven by structural product mix shifts (exiting low-margin railway signaling and low-voltage conductors, while expanding 20% solar cables and 68% HT power cables) rather than cyclical over-earning, supported by 100% commodity pass-through contracts. Sources: our stock research file (22 August 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Dynamic Cables management deliver what it promised? What Dynamic Cables Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Financial Period and Chronology Mismatch · 27 October 2026. The transcript labeled Oct 2026 identifies the call as Q2 FY25/H1 FY25 and reports balances as of September 30, 2024, while the immediately preceding Jul 2026 call is Q1 FY27 and the May 2026 call is Q4 FY26. US route-to-market model is inconsistent · 29 September 2026. The latest call did not carve out the US business or explain whether this is a distinction between an owned network and third-party distribution, which is material to export execution and margin assumptions. Raw-material protection for fixed-price orders changed · 29 September 2026. The latest response did not distinguish formula-based variable-price orders from the fixed-price contracts described previously, creating a material inconsistency in the commodity and margin-risk framework. Profit-margin guidance was widened and lowered · 29 September 2026. May 2026 described the standing operating-profit guidance as 10.5% to 11%, but Sep 2026 described an 8-10% to 11% margin corridor and a 10% EBITDA structure. Every quote above is taken word for word from the company’s own earnings calls. ## What is Dynamic Cables management's track record? Management preserved the guided margin through the operating cycle and reduced debt, but execution timing has not been perfect. ### Regulatory and governance record

The annual-report excerpt says no SEBI, exchange or capital-market statutory penalty was imposed in the last three years. 0% Promoter shares pledged

Sources:

- [dynamiccables.co.in](https://www.dynamiccables.co.in/transcriptconcallQ1FY26.pdf)
- [bseindia.com](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2c274df6-9e68-4184-8091-a5822370b725.pdf)
- [scanx.trade](https://scanx.trade/stock-market-news/companies/dynamic-cables-limited-re-appoints-internal-auditor-and-cost-auditor-for-fy-2026-27/40189540)

(Checked 30 August 2026.)

## How much does Dynamic Cables earn on its capital? Dynamic Cables Ltd earned a ROCE of 26% in FY26. That is up from a low of 11% in FY21. Its return on capital used (ROIC) is 8.6 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 7.0% net margin and 1.75× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 7.0% net margin × 1.75× asset turnover × 1.49× leverage (assets divided by equity) ≈ 18.3% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 20.6% − 12.0% = +8.6 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. ## Does Dynamic Cables have too much debt? Dynamic Cables Ltd has total debt of ₹41.0 Cr against shareholder equity of ₹502 Cr as of Sep 2026, so its debt is 0.08× its equity, which is very little. Year by year, that ratio went from 0.52 in FY22 to 0.09 in FY26. So the returns on this page come from the business, not from borrowed money. Why this happened. Dynamic Cables reduced on-balance-sheet borrowings from ₹119 Cr in FY24 to ₹43 Cr in FY26. Operating cash flows totaled ₹118 Cr across FY25-FY26 (₹56 Cr in FY25, ₹62 Cr in FY26), fully financing ₹83 Cr of capital expenditure and reducing finance costs to ₹3 Cr per quarter. This disciplined capital structure sustains a 26.2% ROCE and ensures expansion is executed without dilutive equity issuance. ## What is the Dynamic Cables shareholding pattern? Domestic institutions cut their stake in Dynamic Cables Ltd by 1.3 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 0.8% of the company. Foreign institutions moved +0.6 points over the same period, to 0.9%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: −1.3 points over 8 quarters, to 0.8%; Foreign institutions: +0.6 points over 8 quarters, to 0.9%; Promoters: +0.0 points over 8 quarters, to 68.2%. Why the owners changed: domestic institutions drove it (−1.3 points), with the other side taken by foreign institutions (+0.6 points). They reduced their stake. ## How far is Dynamic Cables from balance-sheet trouble? For Dynamic Cables Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Dynamic Cables rank in its industry? 45.2 out of 100, rank 8 of 11 in Cables - Power, with 100% of the evidence available. Dynamic Cables Ltd scores 45.2 out of 100 against the 11 companies it is compared with in Cables - Power, ranking 8. The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. The four parts add up to the total exactly: 12.7 + 14.3 + 14.2 + 4 = 45.2. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Dynamic Cables compared with? Dynamic Cables ranks 8 of 11 Cables - Power companies on the 4-Factor Sector Score, with 45.2 out of 100. 1. [V-Marc India Ltd](https://www.sectoralpha.in/stocks/v-marc-india-ltd) VMARCIND · leader · Most evidence points up · 63% evidence 67.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.0/35 · Revenue 48.9% · Profit 90.5% · Operating margin change 0 points · 59% evidence Capital efficiency 19.5/25 · ROCE 41.3% · Operating margin 11% · 76% evidence Valuation 9.1/20 · P/E 38.4× · PEG n/a · 15% evidence Relative strength 14.5/20 · Lead over its industry 29.9% · Lead over NIFTY 500 57.9% · 1 year 225.2% · 100% evidence · 11 of 12 weeks ahead Exact sum: 24 + 19.5 + 9.1 + 14.5 = 67.1 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Diamond Power Infrastructure Ltd](https://www.sectoralpha.in/stocks/diamond-power-infrastructure-ltd) DIACABS · leader · Evidence leans up · 79% evidence 64.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.5/35 · Revenue 92.6% · Profit 100% · Operating margin change 1 points · 88% evidence Capital efficiency 8.9/25 · ROCE 11.8% · Operating margin 11% · 100% evidence Valuation 8.5/20 · P/E 105× · PEG n/a · 15% evidence Relative strength 18.9/20 · Lead over its industry 36.7% · Lead over NIFTY 500 69.7% · 1 year 125.7% · 100% evidence · 12 of 12 weeks ahead Exact sum: 28.5 + 8.9 + 8.5 + 18.9 = 64.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [R R Kabel Ltd](https://www.sectoralpha.in/stocks/r-r-kabel-ltd) RRKABEL · losing its lead · Evidence leans up · 100% evidence 55.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.4/35 · Revenue 45.4% · Profit 66.3% · Operating margin change 1 points · 100% evidence Capital efficiency 14.4/25 · ROCE 28.1% · Operating margin 9% · 100% evidence Valuation 8.8/20 · P/E 34.4× · PEG 2.45 · 100% evidence Relative strength 5.3/20 · Lead over its industry -12.6% · Lead over NIFTY 500 12.8% · 1 year 45.6% · 100% evidence · 10 of 12 weeks ahead Exact sum: 27.4 + 14.4 + 8.8 + 5.3 = 55.9 · What this means: Earnings are strong; relative strength in its sector is -12.6% and the one-year return is 45.6%. 4. [Apar Industries Ltd](https://www.sectoralpha.in/stocks/apar-industries-ltd) APARINDS · leader · Evidence leans up · 100% evidence 55.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.9/35 · Revenue 23.4% · Profit 46.4% · Operating margin change 2 points · 100% evidence Capital efficiency 15.9/25 · ROCE 31.8% · Operating margin 10% · 100% evidence Valuation 4.6/20 · P/E 46.9× · PEG 1.57 · 100% evidence Relative strength 16.2/20 · Lead over its industry 1.7% · Lead over NIFTY 500 30.9% · 1 year 80.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 18.9 + 15.9 + 4.6 + 16.2 = 55.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Polycab India Ltd](https://www.sectoralpha.in/stocks/polycab-india-ltd) POLYCAB · quiet · Evidence leans up · 100% evidence 55.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.5/35 · Revenue 40.7% · Profit 28.6% · Operating margin change -2 points · 100% evidence Capital efficiency 20.8/25 · ROCE 33.2% · Operating margin 14% · 100% evidence Valuation 11.2/20 · P/E 37.2× · PEG 1.48 · 100% evidence Relative strength 6.6/20 · Lead over its industry -26.8% · Lead over NIFTY 500 -0.7% · 1 year 1.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 16.5 + 20.8 + 11.2 + 6.6 = 55.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Universal Cables Ltd](https://www.sectoralpha.in/stocks/universal-cables-ltd) UNIVCABLES · losing its lead · Evidence leans down · 96% evidence 49.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.5/35 · Revenue 33.6% · Profit 69.5% · Operating margin change 0 points · 88% evidence Capital efficiency 5.6/25 · ROCE 11.7% · Operating margin 10% · 100% evidence Valuation 13.5/20 · P/E 20.9× · PEG 0.32 · 100% evidence Relative strength 7.1/20 · Lead over its industry -7.3% · Lead over NIFTY 500 18.9% · 1 year 63.2% · 100% evidence · 11 of 12 weeks ahead Exact sum: 23.5 + 5.6 + 13.5 + 7.1 = 49.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Delton Cables Ltd](https://www.sectoralpha.in/stocks/delton-cables-ltd) Evidence leans down · 61% evidence 47.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.1/35 · Revenue 54.6% · Profit -6.5% · Operating margin change 0.1 points · 83% evidence Capital efficiency 10.9/25 · ROCE 16.6% · Operating margin 8.7% · 95% evidence Valuation 10.3/20 · P/E 31.5× · PEG n/a · 15% evidence Relative strength 11.8/20 · Lead over its industry n/a · Lead over NIFTY 500 36.2% · 1 year n/a · 25% evidence Exact sum: 14.1 + 10.9 + 10.3 + 11.8 = 47.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. Dynamic Cables Ltd this page DYCL · quiet · Evidence leans down · 100% evidence 45.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.7/35 · Revenue 21.2% · Profit 19.2% · Operating margin change -1 points · 100% evidence Capital efficiency 14.3/25 · ROCE 26.2% · Operating margin 10% · 100% evidence Valuation 14.2/20 · P/E 16.5× · PEG 0.84 · 100% evidence Relative strength 4.0/20 · Lead over its industry -29.6% · Lead over NIFTY 500 -5.9% · 1 year -20.9% · 100% evidence · 10 of 12 weeks ahead Exact sum: 12.7 + 14.3 + 14.2 + 4 = 45.2 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 9. [KEI Industries Ltd](https://www.sectoralpha.in/stocks/kei-industries-ltd) KEI · quiet · Evidence leans down · 100% evidence 44.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.5/35 · Revenue 25.1% · Profit 33.2% · Operating margin change 0 points · 100% evidence Capital efficiency 11.6/25 · ROCE 20% · Operating margin 10% · 100% evidence Valuation 11.4/20 · P/E 34.2× · PEG 1.37 · 100% evidence Relative strength 1.1/20 · Lead over its industry -37.9% · Lead over NIFTY 500 -15.5% · 1 year -6.5% · 100% evidence · 1 of 12 weeks ahead Exact sum: 20.5 + 11.6 + 11.4 + 1.1 = 44.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [JD Cables Ltd](https://www.sectoralpha.in/stocks/jd-cables-ltd) Too little evidence to rank firmly · 26% evidence 55.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.9/43.75 · Revenue n/a · Profit n/a · Operating margin change -1 points · 15% evidence Capital efficiency 21.3/31.25 · ROCE 33.6% · Operating margin 12% · 71% evidence Valuation 14.4/25 · P/E 14.8× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 19.9 + 21.3 + 14.4 = 55.6 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 11. [Systematic Industries Ltd](https://www.sectoralpha.in/stocks/systematic-industries-ltd) breaking out · Too little evidence to rank firmly · 43% evidence 46.7 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Cables - Power](https://www.sectoralpha.in/sectors/cables-power), all 11 compared on one page. ## Which companies are close to Dynamic Cables in size? Dynamic Cables is the 8th largest of 11 Cables - Power companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Diamond Power Infrastructure, V-Marc India and Universal Cables. Just below it: Delton Cables, Systematic Industries and JD Cables. ### Cables - Power companies close in size

1. [Diamond Power Infrastructure Ltd](https://www.sectoralpha.in/stocks/diamond-power-infrastructure-ltd) ₹20,598 crore
2. [V-Marc India Ltd](https://www.sectoralpha.in/stocks/v-marc-india-ltd) ₹4,470 crore
3. [Universal Cables Ltd](https://www.sectoralpha.in/stocks/universal-cables-ltd) ₹4,176 crore
4. Dynamic Cables Ltd ₹1,542 crore
5. [Delton Cables Ltd](https://www.sectoralpha.in/stocks/delton-cables-ltd) ₹603 crore
6. [Systematic Industries Ltd](https://www.sectoralpha.in/stocks/systematic-industries-ltd) ₹547 crore
7. [JD Cables Ltd](https://www.sectoralpha.in/stocks/jd-cables-ltd) ₹470 crore

[All 11 Cables - Power companies, largest first](https://www.sectoralpha.in/sectors/cables-power#all-companies)

### Companies close in size in other industries

1. [Tarsons Products Ltd](https://www.sectoralpha.in/stocks/tarsons-products-ltd) ₹1,548 crore · Medical Equipment
2. [NELCO Ltd](https://www.sectoralpha.in/stocks/nelco-ltd) ₹1,543 crore · Telecom Services
3. Dynamic Cables Ltd ₹1,542 crore
4. [Quadrant Future Tek Ltd](https://www.sectoralpha.in/stocks/quadrant-future-tek-ltd) ₹1,541 crore · Railways - Kavach/Springs
5. [JOJO Ltd](https://www.sectoralpha.in/stocks/jojo-ltd) ₹1,539 crore · Pharma - Others

## What else do people ask about Dynamic Cables? ### What is Dynamic Cables's share price today? Dynamic Cables Ltd's share price is ₹351.75, −4.0% over the past year. The whole company is worth ₹1,706 Cr on the market. In the last 52 weeks it traded between ₹252 to ₹488; today it is 42% of the way up from the low, 8.9% below its 200-day average (as of 4 November 2026). ### What were Dynamic Cables's latest quarterly results? Dynamic Cables Ltd reported revenue of ₹363 Cr and net profit of ₹22.0 Cr for the Sep 2026 quarter. Revenue rose 28.7% and profit rose 10.0% compared with a year earlier. Earnings per share were ₹4.57. The operating margin was 10.0%, 1.0 percentage points lower than a year earlier (as of 4 November 2026). ### What is Dynamic Cables's market cap? Dynamic Cables Ltd's market capitalisation is ₹1,706 Cr at a share price of ₹351.75. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Dynamic Cables performing? Dynamic Cables Ltd's share price has been rising for 15 weeks. In its latest quarter, revenue rose 28.7% and profit rose 10.0% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 3 weeks running (as of 4 November 2026). ### Will Dynamic Cables's share price go up? This page does not forecast Dynamic Cables Ltd's share price. What it shows instead: the share price is ₹351.75, and it has been rising for 15 weeks. Its P/E of 18.3× is higher than 63% of its own last 9 years (as of 4 November 2026). ### Who owns Dynamic Cables? Promoters own 68.2% of Dynamic Cables Ltd, foreign institutions 0.9%, domestic institutions 0.8% and the public 30.2% (latest quarter). The biggest change over the last two years: Domestic institutions cut their stake by 1.3 percentage points over 8 quarters (as of 4 November 2026). ### Does Dynamic Cables have too much debt? No, Dynamic Cables Ltd has little debt: its debt is 0.09× its equity, and its operating profit is 12 times its interest bill. FY26 borrowings were ₹43.0 Cr against equity of ₹457 Cr. So the returns on this page come from the business, not borrowed money (as of 4 November 2026). ### Where is Dynamic Cables in its business cycle? Dynamic Cables Ltd's FY26 operating margin was 11.0%, against a 13-year range of 3.6% to 11.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 10.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Dynamic Cables story? The main question: yearly earnings per share moved +30.5% while the share price moved −4.0%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Dynamic Cables a stock worth studying right now? What the numbers show: Dynamic Cables Ltd's earnings have grown faster than its share price. Earnings per share grew +30.5% in a year while the price moved −4.0%. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Dynamic Cables share price forecast for 2026? What management itself guided: Long-term value growth around 20% yearly growth. What would change the story: A failure of the greenfield plant to commence commercial dispatches by October to December 2026 accompanied by quarterly volume growth remaining below 5%, or operating margins dropping below 9.5% indicating loss of pricing power. ### Where does this page get Dynamic Cables' management information? From Dynamic Cables' results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Power & green energy stocks: https://www.sectoralpha.in/sectors/power-stocks-india

This is research, not advice. We’re not SEBI-registered.