Dynamic Cables Ltd. (DYCL) AI Stock Analysis

• Market Cap: ₹14.06B
• Dividend Yield: 0.07%
• Average Volume (3M): 11.46K
• Price to Earnings (P/E): 16.8
• Beta (1Y): 2.01
• Revenue Growth: 28.58%
• EPS Growth: 54.67%
• Country: IN
• Employees: 840
• Sector: Services
• Sector Strength: N/A
• Industry: Electrical Equipment & Parts
• EPS (TTM): 4.63
• Shares Outstanding: 48,458,637
• 10 Day Avg. Volume: 5,591
• 30 Day Avg. Volume: 11,457
• PEG Ratio: 0.18
• Price to Book (P/B): 1.81
• Price to Sales (P/S): 0.66
• P/FCF Ratio: 21.29
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: ₹309.00 ▼(-6.97% Downside)

Dynamic Cables Ltd. has a strong financial foundation with robust revenue and profit growth, improved margins, and effective cash management. However, the technical analysis indicates bearish momentum, which is a significant concern. The valuation is reasonable, with a moderate P/E ratio and attractive dividend yield. The overall score reflects the strong financial performance tempered by negative technical indicators.

Positive Factors

Revenue Growth and Scale

Sustained double‑digit top‑line growth demonstrates successful market penetration and demand for core products. This scale expansion improves fixed‑cost absorption, supports reinvestment, and creates a foundation for multi‑period earnings growth if the company sustains product competitiveness and distribution execution.

Improving Profitability and Operational Efficiency

Margin expansion reflects durable operational improvements and better cost management, strengthening cash generation potential. Higher gross and operating margins increase resilience to commodity swings and fund organic investment, making profitability gains more likely to persist with disciplined cost control and scale benefits.

Stronger Balance Sheet and Lower Leverage

Marked deleveraging and a larger equity base reduce financial risk and increase strategic flexibility. Low leverage supports capacity to fund capex, weather downturns, and pursue M&A or working capital needs without stressing liquidity, which is a lasting improvement in the company's financial resiliency profile.

Negative Factors

Modest Net Profit Margin

Even after improvement, net margins remain modest, exposing earnings to input‑cost or pricing pressure. Low absolute profitability limits retained earnings for reinvestment and makes returns sensitive to small adverse swings in commodity costs or selling price, challenging long‑term margin durability.

Dependence on Sustaining High Growth

The company’s outlook hinges on continuing rapid revenue expansion. If demand, market share gains, or execution slow, earnings and cash conversion could deteriorate materially. This structural dependence increases execution risk and makes medium‑term value creation contingent on consistent top‑line momentum.

Higher Business Sensitivity to Market Moves

A high beta indicates the company’s earnings and share performance are more cyclical and exposed to macro swings. Structurally, this raises volatility in cash flows and capital planning, increasing the probability of funding stress or deferred investments during economic downturns and complicating long‑term forecasting.

Dynamic Cables Ltd. Business Overview & Revenue Model

Company Description

Dynamic Cables Limited engages in manufacture and supply of cables and conductors for private and government clients in India and internationally. The company offers aluminum alloy, aluminum conductor steel reinforced, AA conductors, and bare copper conductors; high voltage power cables, medium voltage (MV) covered conductors, MV and KV HV power cables, and MV and LV aerial bunched cables; copper and aluminum power cables, control cables, and concentric cables; railway signaling cables; and galvanized stay wires/earth wires. Its products are used in power generation, and electricity transmission and distribution, as well as airports, railways, and residential projects. The company was incorporated in 2007 and is based in Jaipur, India.

How the Company Makes Money

Dynamic Cables Ltd. generates revenue primarily through the sale of its electrical cables and related products to various industries. Key revenue streams include direct sales to construction firms, telecommunications companies, and energy providers, along with bulk orders from distributors. The company also benefits from long-term contracts with major clients, ensuring a steady stream of income. Additionally, DYCL may engage in partnerships with technology firms to develop innovative products, which can lead to new revenue opportunities. Factors contributing to its earnings include market demand for renewable energy solutions, advancements in cable technology, and a strong reputation for quality and reliability in the industry.

Dynamic Cables Ltd. Financial Statement Overview

Summary

Dynamic Cables Ltd. exhibits strong financial performance with impressive revenue and profit growth, improved margins, and effective cost management. The balance sheet shows reduced leverage and increased equity, supporting financial stability. Cash flows have turned positive, demonstrating effective cash management. The company is well-positioned, but sustaining growth and maintaining financial health will be key to future success.

Income Statement

Dynamic Cables Ltd. has demonstrated robust growth in revenue, with a notable increase from ₹7,678 million in 2024 to ₹10,253 million in 2025, reflecting a revenue growth rate of 33.52%. The gross profit margin improved to 18.79% in 2025, indicating effective cost management. The net profit margin also increased to 6.32% in 2025, up from 4.92% in 2024, showcasing enhanced profitability. EBIT and EBITDA margins have shown significant improvement, highlighting operational efficiency. Overall, the company exhibits strong growth and profitability, although maintaining this trajectory will be crucial.

Balance Sheet

The balance sheet of Dynamic Cables Ltd. shows a solid equity position with stockholders' equity increasing to ₹3,739 million in 2025. The debt-to-equity ratio significantly improved to 0.16 from 0.56 in 2024, indicating reduced leverage and financial risk. The return on equity (ROE) rose to 17.34%, reflecting effective use of equity to generate profits. The equity ratio increased to 63.45%, further reinforcing financial stability. Despite the improvements, monitoring debt levels and maintaining equity growth are essential for sustained financial health.

Cash Flow

Cash flow analysis indicates strong performance with free cash flow turning positive at ₹316 million in 2025, a significant improvement from negative levels in 2024. Operating cash flow to net income ratio of 0.87 in 2025 shows effective conversion of income into cash. The free cash flow to net income ratio also reflects solid cash generation. The company has considerably improved its cash flow management, but continued focus on sustainable cash generation will be important.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	10.79B	10.25B	7.68B	6.69B	5.64B	3.42B
Gross Profit	2.15B	1.93B	1.07B	1.15B	992.31M	574.18M
EBITDA	1.17B	1.05B	767.88M	626.20M	599.64M	336.43M
Net Income	714.28M	648.21M	377.71M	310.13M	309.00M	98.45M
Balance Sheet
Total Assets	0.00	5.89B	4.99B	4.03B	3.50B	2.97B
Cash, Cash Equivalents and Short-Term Investments	443.10M	760.36M	12.58M	1.25M	798.00K	880.00K
Total Debt	0.00	588.67M	1.19B	823.83M	767.68M	1.18B
Total Liabilities	-3.74B	2.15B	2.85B	2.26B	2.02B	1.80B
Stockholders Equity	3.74B	3.74B	2.14B	1.77B	1.48B	1.17B
Cash Flow
Free Cash Flow	0.00	316.99M	-199.02M	139.87M	578.49M	191.25M
Operating Cash Flow	0.00	563.20M	12.64M	274.37M	639.84M	260.45M
Investing Cash Flow	0.00	-757.30M	-164.38M	-158.80M	-92.04M	-57.45M
Financing Cash Flow	0.00	193.29M	152.77M	-115.12M	-547.88M	-202.71M

Dynamic Cables Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 332.15
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DYCL, the sentiment is Neutral. The current price of 332.15 is above the 20-day moving average (MA) of 302.85, above the 50-day MA of 322.91, and below the 200-day MA of 386.98, indicating a neutral trend. The MACD of -9.97 indicates Negative momentum. The RSI at 47.55 is Neutral, neither overbought nor oversold. The STOCH value of 34.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:DYCL.

Dynamic Cables Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CORDSCABLE	76 Outperform	₹2.11B	12.69	―	0.52%	26.59%	42.18%
PARACABLES	62 Neutral	₹9.91B	16.26	―	―	38.39%	-27.69%
UNIVCABLES	62 Neutral	₹24.28B	16.62	―	0.45%	24.03%	51.58%
DYCL	61 Neutral	₹14.06B	16.77	―	0.07%	28.58%	54.67%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%

Dynamic Cables Ltd. Corporate Events

Dynamic Cables Posts Strong Q3 and Nine-Month FY26 Growth, Order Book Climbs to ₹787 Crore

Dynamic Cables Limited reported strong unaudited financial results for the quarter and nine months ended December 31, 2025, posting a 21% year-on-year revenue increase to ₹842 crore and a 46% rise in profit after tax to ₹60 crore for the nine-month period, with operating margins improving to 10.9% and PAT margins rising to 7.5%. The company highlighted disciplined execution, lower finance costs, and a growing order book of ₹787 crore as key drivers of performance, while confirming that a new manufacturing plant, a central element of its long-term growth strategy, remains on track for completion by the end of FY 2026 alongside encouraging progress in HTLS conductors, signaling continued operational momentum and an enhanced competitive position for stakeholders.

Dynamic Cables’ Reengus Quality Lab Secures NABL Accreditation

Dynamic Cables Limited has received accreditation from the National Accreditation Board for Testing and Calibration Laboratories (NABL) for its Quality Control Laboratory at the Reengus unit in Jaipur, certifying compliance with ISO/IEC 17025:2017 standards. The certification, valid until January 11, 2030, underscores the company’s competence, accuracy and reliability in testing, bolstering its quality assurance framework and aligning its testing infrastructure with globally benchmarked practices, which is expected to strengthen engineering capabilities and reinforce adherence to high industry and regulatory standards for its products.

Dynamic Cables Secures UL Certification to Boost International Market Reach

Dynamic Cables Limited has received UL Certification for its cables under the UL 854 standard from UL Solutions. This certification will allow the company to supply its products in the United States and other UL-regulated international markets, thereby strengthening its export capabilities and enhancing its acceptance in global markets.