Delton Cables Reports Strong FY26 Growth and Land Revaluation

Delton Cables Limited announced its financial results for the fiscal year ended March 31, 2026. The company posted total revenue of ₹986.38 crore for FY26, a substantial 39.07% increase from ₹709.26 crore in the previous fiscal year. EBITDA grew by 37.14% to ₹66.38 crore in FY26, up from ₹48.40 crore in FY25. Adjusted Profit After Tax (PAT) rose by 21.49% to ₹14.54 crore in FY26, compared to ₹11.97 crore in FY25.

Key Financial Highlights

Delton Cables reported robust revenue growth for fiscal year 2026 (FY26), with a year-on-year increase of 39.07% to ₹986.38 crore. The company's operational earnings, measured by EBITDA, also showed a strong upward trend, increasing by 37.14% to ₹66.38 crore. The adjusted profit after tax saw a 21.49% growth, reaching ₹14.54 crore.

A significant non-operational event was the revaluation of the company's land holdings, which substantially increased its book value. The board has proposed a final dividend of ₹2.00 per equity share, reflecting confidence in the company's financial health.

Financial Performance and Strategic Shifts

The impressive revenue growth highlights increased market demand and Delton Cables' enhanced ability to secure new business. This is particularly evident in its Engineering, Procurement, and Construction (EPC) segment, which experienced an 87% surge and now represents 52% of the total revenue. The company consciously reduced its focus on the Railways segment, which accounted for 28% of revenue and saw a 21% de-growth.

Exports also saw a significant boost, climbing to ₹14.60 crore in FY26 from a mere ₹0.70 crore in FY25.

Balance Sheet Impact and Shareholder Value

Delton Cables' book value per share experienced a dramatic increase, rising from ₹105 in FY25 to ₹397 in FY26. This jump is primarily attributed to the revaluation of land assets, which grew from a book value of ₹0.08 crore to ₹240.13 crore. As of March 31, 2026, the company's order book stood at ₹513.00 crore.

Areas of Concern

Despite strong revenue figures, a slight contraction in the EBITDA margin was observed, falling from 6.82% in FY25 to 6.73% in FY26. This pressure is attributed to rising raw material costs and ongoing supply chain issues. While adjusted PAT shows growth, the reported Profit Before Tax (PBT) and PAT figures saw declines. Investors will be monitoring the company's ability to navigate these margin pressures and successfully transition to its higher-margin EPC projects.

Comparative Performance

Delton Cables' 39% revenue growth for FY26 appears to exceed general industry trends for cable manufacturers, although direct peer comparisons for the full fiscal year are not yet available. The company's strategic pivot towards the EPC sector may offer a competitive advantage over peers focused mainly on traditional cable manufacturing.

Key Metrics and Future Outlook

Investors will closely track Delton Cables' performance in FY27. Key areas of focus will include the company's ability to improve EBITDA margins, especially as raw material prices are anticipated to stabilize. The successful execution of its strategy to prioritize the EPC business and manage the reduced focus on the Railways segment will be critical for sustained profitability and growth.