Universal Cables Q4 profit rises 11%; approves Rs 73 crore EHV upgrade
Universal Cables Ltd reported an 11.33% year-on-year (YoY) increase in consolidated net profit for the fourth quarter of FY26, while its board approved a Rs 73 crore modernisation plan for its extra high voltage (EHV) cable facility and a Rs 200 crore debt issuance programme.
Consolidated net profit for Q4 FY26 stood at Rs 55.32 crore, compared to Rs 49.69 crore in the corresponding quarter last year. Sequentially, profit rose 103.46% from Rs 27.19 crore reported in Q3 FY26.
Revenue from operations increased 24.66% YoY to Rs 840.27 crore from Rs 674.06 crore a year earlier. On a quarter-on-quarter (QoQ) basis, revenue grew 9.42% from Rs 767.92 crore.
Profit before tax for the quarter stood at Rs 76.6 crore, registering growth of 17.94% YoY and 128.25% QoQ.
Cost trends
Raw material expenses increased 63.19% YoY to Rs 686.59 crore during Q4 FY26. Employee benefit expenses rose 12.64% YoY to Rs 32.17 crore, while interest costs increased 31.38% YoY to Rs 32.49 crore. Depreciation expenses climbed 54.87% YoY to Rs 10.98 crore.
FY26 performance
For the financial year ended March 31, 2026, consolidated net profit rose 171.58% YoY to Rs 107.79 crore from Rs 39.70 crore in FY25.
Revenue from operations for FY26 increased 25.83% YoY to Rs 2,182.40 crore, compared to Rs 1,734.48 crore in the previous fiscal year. Profit before tax stood at Rs 140.8 crore, up 168.14% YoY.
Net cash flow from operating activities declined to Rs 63.48 crore in FY26 from Rs 175.62 crore in FY25.
Order book
The company’s pending order book stood at around Rs 3,025 crore as of March 31, 2026, including export orders worth approximately Rs 495 crore.
The company added that export orders worth around Rs 300 crore are currently under pipeline.
EHV upgrade
The board approved an investment of Rs 73 crore for modernisation and technological upgradation of the company’s EHV cable plant at Satna, Madhya Pradesh.
According to the company, the modernisation programme will not increase physical production capacity but will allow the facility to manufacture products meeting a wider range of domestic and international standards. The company said the upgrade is intended to improve capacity utilisation and align operations with evolving quality, safety, and environmental requirements.
Debt raising
The board also approved raising up to Rs 200 crore through issuance of non-convertible debentures (NCDs) or other debt securities on a private placement basis.
Expansion update
The company’s ongoing expansion project at Satna, involving an investment of around Rs 550 crore for medium voltage (MV) and high voltage (HV) cable capacity enhancement, has experienced a slight delay.
Out of four planned continuous catenary vulcanisation (CCV) lines, two lines along with associated machinery were commissioned by September 2025 and achieved near-maximum utilisation during Q3 FY26.
The remaining two CCV lines are now expected to be commissioned by the end of August 2026 and September 2026, respectively.
During FY26, the company also commissioned new low voltage (LV) cable facilities at Satna and completed expansion of the wires and flexible cable facility at its Goa plant. The company said these facilities are expected to support growth in the LV and wire and flexible cable segments.
Dividend
The board recommended a dividend of Rs 4.50 per equity share of face value Rs 10 each for FY26, subject to shareholder approval at the upcoming annual general meeting.
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