DCG Cables & Wires Ltd.

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dcgcableswiresltd.comBSE: -NSE: DCG

Market Cap₹ 135 Cr.

Current Price

High / Low₹ 77 / 47

Stock P/E15.7

Book Value₹ 44

Price to Book1.34

Dividend Yield0.00 %

ROCE17.7 %

ROE15.7 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

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PROS

Company has a good return on equity (ROE) track record: 3 Years ROE 26.0%
Company has a healthy return on capital (ROCE) of 22.9%
Operating margins have improved to 12.6% from 3.3%
Company maintains a comfortable, low leverage position

CONS

Operating cash flow has been negative in recent years
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.84x)
Equity base is being diluted - shares outstanding up 359.5%
Working capital days have increased from 65 to 116 days
Free cash flow has been persistently negative
Total debt has risen sharply - up 37.6% year on year

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsElectricalsCable

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	POLYCAB	8800.15	46.30	132610.86	0.53	796.65	32.84	8209.73	39.01	34.93	13.84
2.	KEI	5170.00	49.58	49425.51	0.09	274.14	40.05	3185.34	22.97	21.47	12.43
3.	DHOOTTRANS	1521.15	78.44	31114.83	0.00	—	—	—	—	24.14	—
4.	RRKABEL	2631.35	48.98	29762.02	0.36	205.20	128.59	3168.20	53.90	28.43	9.01
5.	FINCABLES	1192.15	22.79	18232.66	0.75	249.04	53.14	2013.15	44.26	17.70	14.16
6.	PRECWIRE	481.90	519.95	8809.44	0.26	46.45	71.48	1779.24	61.20	33.09	4.76
7.	UNIVCABLES	1628.50	28.20	5650.14	0.28	70.14	-78.69	945.06	57.46	11.69	13.80
8.	LASERPOWER	303.75	28.13	4263.69	0.00	207.32	—	5215.47	—	24.84	12.62
9.	DYCL	535.40	28.45	2594.48	0.09	249.53	1270.52	3491.01	1232.27	26.80	10.89
10.	ADVAIT	2140.50	39.91	2342.35	0.09	14.80	65.77	179.27	51.37	27.90	13.36
11.	PARACABLES	64.15	34.44	2099.24	0.00	19.70	6.49	529.40	17.35	16.62	6.56
12.	DCG	74.65	15.65	135.49	0.00	3.31	—	39.42	—	17.60	12.94

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2023	Sep 2024
	28	39
	25	34
Operating Profit	3	5
OPM %	11.16%	12.94%
Other Income	0	0
Interest	1	1
Depreciation	0	0
	2	4
Tax %	25.11%	24.49%
Net Profit	2	3
	1	2
Equity Capital	13	18
Reserves	0	0
Promoter Pledge %	0.00%	0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	15	28	55	101	128
	14	27	51	85	111
Operating Profit	0	1	4	16	17
OPM %	1	3	7	16	13
Other Income	0	0	0	0	1
Interest	0	0	1	3	3
Depreciation	0	0	0	1	3
	0	0	2	12	11
Tax %	25	25	25	27	29
Net Profit	0	0	2	9	8
EPS	102	2	4	7	4
Dividend Payout %	0	0	0	0	0
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	102	1	1	7	4

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 66%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 179%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -4%

RETURN ON EQUITY

10 Years:: —
5 Years:: 35%
3 Years:: 26%
Last Year:: 16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-
Equity Capital	0	4	13	13	18
	0	0	2	11	61
	0	5	15	18	30
Trade Payables	1	0	0	30	1
	0	3	4	13	10
Total Liabilities	2	13	35	84	120
ASSETS	-	-	-	-	-
	0	1	3	5	39
Capital Work in Progress	0	0	0	3	0
	0	0	3	3	3
	0	4	6	18	36
	0	0	0	49	13
Cash & Bank	0	2	1	2	3
	1	6	23	4	26
Total Assets	2	13	35	84	120
Total Debt	0	6	18	25	35
Net Working Capital	0	6	13	18	40
Contingent Liabilities	0	0	0	0	0
Book Value per Share	129.20	11.22	11.66	18.25	43.58
Face Value	10.00	10.00	10.00	10.00	10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	0	-9	-15	4	-23
Cash from Investing	-0	-1	-5	-7	-33
Cash from Financing	-0	11	19	4	56
	0	2	-1	2	0
Free Cash Flow	0	-9	-18	-3	-56
OCF / Net Profit	0.98	-22.91	-8.98	0.48	-2.85
Cumulative 5-Year FCF	0	0	0	0	0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	101.80	0.94	1.31	6.73	4.47
Book Value (₹)	129.20	11.22	11.66	18.25	43.58
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	113.80	1.16	1.52	7.52	5.94
PROFITABILITY
Operating Margin %	1.08%	3.32%	6.53%	15.91%	12.60%
Net Margin %	0.70%	1.34%	3.16%	8.76%	6.35%
ROE %	78.79%	16.28%	17.41%	45.01%	15.72%
ROCE %	34.32%	13.65%	14.53%	36.47%	17.74%
	6.28%	5.10%	7.21%	14.85%	7.93%
EFFICIENCY
Debtor Days	26	42	63	113	89
Inventory Days	7	30	36	44	78
Payable Days	27	11	3	67	53
	7	61	96	90	114
FINANCIAL HEALTH
Debt to Equity (x)	2.31x	1.43x	1.18x	1.06x	0.44x
Interest Coverage (x)	13.83x	2.47x	3.33x	5.16x	4.65x
	1.33x	2.09x	1.76x	1.33x	2.05x
GROWTH
Revenue Growth %	0.00%	89.40%	96.90%	85.43%	26.17%
Operating Profit Growth %	0.00%	479.57%	287.47%	353.72%	6.33%
Net Profit Growth %	0.00%	264.73%	363.53%	414.30%	-8.45%
	0.00%	0.00%	0.00%	414.29%	-33.66%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	13.06x
P/B (x)	0.00x	0.00x	0.00x	0.00x	1.34x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	2.25x	8.05x

Shareholding Pattern

Numbers in percentages

	Sep 2024	Mar 2025	Sep 2025	Mar 2026
	72.45	72.45	72.45	72.45
FIIs	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00
	27.55	27.55	27.55	27.55

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

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