Universal Cables Ltd
Universal Cables Ltd
IndustrialsKey Fundamentals
MicrocapCables - ElectricalsIndustrial ProductsInsights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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29 extracted metrics + investor summaries across FY17–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
2- Company is expected to give good quarter
- Company's working capital requirements have reduced from 69.1 days to 48.2 days
Weaknesses
4- Stock is trading at 3.16 times its book value
- Company has a low return on equity of 6.87% over last 3 years.
- Earnings include an other income of Rs.132 Cr.
- Dividend payout has been low at 11.6% of profits over last 3 years
Growth Rate
AI Analysis — Bull vs Bear
Universal Cables Ltd trades at a market cap of ₹3,746 Cr with a P/E of 24.9x and P/B of 2.15x. The company has delivered strong TTM sales growth of 26% and TTM profit growth of 82%, though its 3-year average ROE remains modest at approximately 7%. The stock has appreciated 49% over the past year, significantly outpacing its fundamental earnings growth over the longer term.
- TTM revenue growth of 26% indicates strong demand momentum in the cables/wires segment
- TTM profit growth of 82% shows significant operating leverage and margin expansion
- Working capital days improved from 69.1 days to 48.2 days, freeing up cash and improving capital efficiency
- 5-year compounded sales CAGR of 19% demonstrates sustained top-line expansion over a longer period
- Last year ROE improved to 9% from a 3-year average of 7%, suggesting improving return profile
- P/B ratio of 2.15x is relatively moderate for an industrials company showing accelerating growth
- 5-year compounded profit CAGR of 19% aligns with sales growth, showing consistent conversion of revenue to earnings
- 3-year average ROE of only 6.88% is below cost of equity for most investors, indicating poor capital allocation historically
- Earnings quality concern: other income of ₹111 Cr forms a material portion of profits, inflating reported earnings
- Dividend payout of only 11.6% over last 3 years offers minimal shareholder returns despite low reinvestment efficiency
- Stock CAGR of 49% (1-year) and 45% (3-year) significantly exceeds fundamental profit growth of 11% (3-year CAGR), suggesting stretched valuations
- P/E of 24.9x is elevated for a company with a 3-year profit CAGR of only 11%, implying a PEG ratio above 2x
- Dividend yield of just 0.34% provides negligible income cushion in a downturn
- 10-year ROE average of 8% suggests the business has structurally modest return characteristics despite cyclical upswings
This is AI-generated analysis, not financial advice. Do your own due diligence.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 479 | 494 | 467 | 580 | 489 | 638 | 608 | 674 | 600 | 814 | 768 | 840 | 945 |
| Expenses | 443 | 471 | 426 | 519 | 457 | 591 | 569 | 612 | 542 | 741 | 708 | 771 | 854 |
| Operating Profit | 37 | 23 | 41 | 61 | 32 | 47 | 39 | 62 | 58 | 74 | 60 | 69 | 91 |
| OPM % | 8% | 4.7% | 9% | 11% | 6% | 7% | 6% | 9% | 10% | 9% | 8% | 8% | 10% |
| Other Income | 22 | 18 | 23 | 34 | 9 | 9 | 16 | 35 | 21 | 24 | 15 | 51 | 42 |
| Interest | 21 | 22 | 24 | 24 | 26 | 26 | 27 | 25 | 24 | 27 | 31 | 32 | 36 |
| Depreciation | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 7 | 9 | 9 | 10 | 11 | 12 |
| PBT | 32 | 14 | 33 | 65 | 8 | 23 | 21 | 65 | 46 | 62 | 34 | 76 | 85 |
| Tax % | 25% | 17% | 28% | 25% | 33% | 21% | 25% | 23% | 28% | 23% | 19% | 28% | 17% |
| Net Profit | 24 | 12 | 24 | 49 | 6 | 18 | 16 | 50 | 34 | 48 | 27 | 55 | 70 |
| EPS in Rs | 6.93 | 3.36 | 6.91 | 14 | 1.61 | 5.27 | 4.56 | 14.32 | 9.68 | 13.74 | 7.84 | 15.86 | 20.22 |
Profit & Loss
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 817 | 1,180 | 1,415 | 1,568 | 1,280 | 1,813 | 2,202 | 2,020 | 2,407 | 3,022 | 3,368 |
| Expenses | 742 | 1,073 | 1,240 | 1,402 | 1,189 | 1,690 | 2,016 | 1,859 | 2,233 | 2,762 | 3,073 |
| Operating Profit | 75 | 107 | 175 | 166 | 91 | 123 | 185 | 162 | 174 | 260 | 294 |
| OPM % | 9% | 9% | 12% | 11% | 7% | 7% | 8% | 8% | 7% | 9% | 9% |
| Other Income | 52 | 52 | 79 | 81 | 88 | 78 | 86 | 98 | 75 | 111 | 132 |
| Interest | 44 | 53 | 62 | 77 | 63 | 78 | 97 | 91 | 104 | 115 | 127 |
| Depreciation | 19 | 21 | 21 | 23 | 26 | 24 | 22 | 24 | 27 | 39 | 43 |
| PBT | 65 | 84 | 170 | 147 | 90 | 99 | 152 | 144 | 117 | 217 | 256 |
| Tax % | -9% | 2% | 20% | 39% | 25% | 24% | 22% | 25% | 24% | 25% | — |
| Net Profit | 70 | 83 | 136 | 90 | 67 | 75 | 118 | 108 | 89 | 163 | 200 |
| EPS in Rs | 20.32 | 23.84 | 39.16 | 25.96 | 19.38 | 21.6 | 34.05 | 31.19 | 25.76 | 47.01 | 57.66 |
| Div. Payout % | 0% | 6% | 5% | 8% | 5% | 7% | 9% | 10% | 16% | 10% | — |
Balance Sheet
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 35 | 35 | 35 | 35 | 35 | 35 | 35 | 35 | 35 | 35 |
| Reserves | 647 | 800 | 964 | 955 | 1,101 | 1,260 | 1,462 | 1,740 | 1,737 | 1,856 |
| Borrowings | 288 | 394 | 541 | 621 | 609 | 694 | 657 | 771 | 849 | 1,177 |
| Other Liabilities | 175 | 299 | 310 | 571 | 606 | 770 | 657 | 774 | 799 | 1,255 |
| Total Liabilities | 1,144 | 1,527 | 1,851 | 2,183 | 2,351 | 2,758 | 2,810 | 3,320 | 3,419 | 4,323 |
| Fixed Assets | 134 | 122 | 155 | 172 | 187 | 167 | 161 | 200 | 255 | 417 |
| CWIP | 0 | 17 | 2 | 17 | 0 | 2 | 11 | 0 | 35 | 137 |
| Investments | 518 | 634 | 740 | 847 | 1,025 | 1,190 | 1,359 | 1,652 | 1,618 | 1,654 |
| Other Assets | 492 | 756 | 954 | 1,146 | 1,138 | 1,400 | 1,280 | 1,467 | 1,511 | 2,115 |
| Total Assets | 1,144 | 1,527 | 1,851 | 2,183 | 2,351 | 2,758 | 2,810 | 3,320 | 3,419 | 4,323 |
Cash Flow
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 70 | -42 | -59 | 38 | 90 | -12 | 143 | 33 | 176 | 63 |
| Investing | -13 | -18 | -27 | -42 | -16 | -7 | -15 | -50 | -141 | -257 |
| Financing | -61 | 62 | 84 | 4 | -72 | 16 | -127 | 18 | -31 | 192 |
| Net Cash Flow | -3 | 2 | -1 | 0 | 2 | -3 | 0 | 1 | 4 | -2 |
| Free Cash Flow | 52 | -65 | -97 | -16 | 65 | -33 | 115 | -27 | 13 | -206 |
| CFO/OP | 89 | -36 | -22 | 36 | 104 | 1 | 88 | 27 | 113 | 36 |
Ratios
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 139 | 159 | 157 | 187 | 229 | 195 | 148 | 195 | 138 | 138 |
| Inventory Days | 89 | 71 | 101 | 89 | 101 | 79 | 61 | 70 | 79 | 98 |
| Days Payable | 95 | 114 | 96 | 106 | 124 | 118 | 63 | 82 | 64 | 121 |
| Cash Conversion Cycle | 133 | 116 | 162 | 169 | 206 | 155 | 146 | 183 | 153 | 115 |
| Working Capital Days | 67 | 53 | 68 | 58 | 66 | 79 | 79 | 80 | 79 | 48 |
| ROCE % | — | 12% | 17% | 14% | 9% | 9% | 12% | 10% | 9% | 12% |
Documents
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Company Information
Universal Cables Ltd is predominantly engaged in the business of manufacturing a large range of power cables from 1.1kV to 400kV & capacitors, Turnkey Projects relating thereto and other types of wires and cables, conductors, etc. [1]