Universal Cables Q2 FY2026 Results: Record Revenue and Profit Growth, PAT Up 161% YoY; Strong Export Orders and Capacity Expansion Drive Performance

Universal Cables Q2 FY2026 Financial Results

Universal Cables Limited (NSE: UNIVCABLES), part of the MP Birla Group, reported a stellar performance for the quarter ended September 30, 2025 (Q2 FY26), posting its highest-ever quarterly revenue and profit driven by strong demand, export growth, and improved operational efficiency. The company’s stock closed up 7.8% on November 13, reflecting market optimism over the record results and positive growth outlook.

Stock Performance & Key Metrics

As of November 13, 2025:

• Current Price: ₹782
• Market Cap: ₹2,712 Crores
• Stock P/E: 18.5
• Book Value: ₹539 per share
• Dividend Yield: 0.52%
• ROCE: 8.58%
• ROE: 5.06%
• Debt to Equity: 0.54
• Debt: ₹1,014 Crores
• Face Value: ₹10
• EPS (Q2 FY26): ₹13.74

Q2 FY2026 Financial Highlights

Result Summary

• Revenue surged 28% YoY to ₹814 Cr — the company’s highest-ever quarterly turnover — led by favorable product mix and strong exports.
• EBITDA rose 57% YoY, driven by cost control and improved efficiency, expanding margins by 152 basis points to 10.28%.
• Net Profit (PAT) more than doubled (+161% YoY) to ₹47.7 Cr, supported by broad-based performance in cables and capacitors.
• Sequentially (QoQ), profit rose 45% from ₹32.9 Cr in Q1 FY26, marking the fourth consecutive quarter of growth.
• H1 FY26 standalone PAT stood at ₹56.04 Cr, up 170% YoY from ₹20.57 Cr in H1 FY25.

Key Business and Strategic Highlights

Universal Cables achieved robust performance across both domestic and export markets during the quarter.

Export & Order Momentum

• Recorded export orders worth USD 38 million for 400kV EHV Cables from the Middle East — a first for any Indian cable manufacturer.
• Adjudged as lowest bidder for USD 25 million turnkey EHV cable project in Latin America, expected to materialize shortly.
• Order book as of September 30, 2025, stood at ₹2,945 Crores, including large projects for Andhra Pradesh’s new capital region (Amravati).
• Strong traction from Europe, Australia, and Africa continues to drive export revenue momentum.

Capacity Expansion & CAPEX

• Ongoing ₹525 Cr capacity expansion project progressing as scheduled.
• Two of four CCV (Continuous Catenary Vulcanization) lines already commissioned; remaining lines to be operational by FY26-end and Q1 FY27.
• New Low Voltage (LV) Cable Plant at Satna to be commissioned by Dec 2025.
• Goa Plant for building wires and LT cables now fully operational and scaling utilization.
• Expansion will boost capacity for Medium Voltage (MV) and High Voltage (HV) cables, enabling further volume growth.

Management Commentary

> “Being a pioneer in the power cable industry, we have ample opportunity to grow both domestically and internationally, backed by our strong credentials and world-class facilities,” said Y.S. Lodha, Managing Director and CEO of Universal Cables. > “Our focus remains on rapidly scaling up capacity and executing high-value EHV cable projects to sustain this growth momentum.”

Industry Context and Outlook

India’s power infrastructure and electrification drive is fueling demand for cables and capacitors, supported by:

• Expansion in transmission and distribution (T&D) networks,
• Record renewable capacity additions,
• Growth in metro rail, data centers, and EV infrastructure, and
• Strong export opportunities amid global supply realignment.

Universal Cables expects the outlook to remain steady and buoyant for FY26, with growth driven by:

• Healthy domestic project pipeline,
• New overseas market penetration,
• Rising EHV and MV cable demand, and
• Continuous product and process innovation.

The company’s joint venture Birla Furukawa Fibre Optics Pvt. Ltd. also reported strong profitability in Q2, aided by rising global fiber optic demand, particularly from data centers and telecom expansion.

About the Company

Universal Cables Limited, part of the MP Birla Group, is a pioneer in India’s power cable industry, established in 1962 by Late Shri Madhav Prasadji Birla. The company manufactures a broad range of power cables (1.1kV to 400kV), capacitors, conductors, and turnkey electrical project solutions.

Product Portfolio:

• Cables: LV, MV, HV, and EHV power cables including HVDC solutions.
• Capacitors & Systems: Power factor correction capacitors, harmonic filters, capacitor banks.
• Projects: Turnkey EPC for cables, conductors, and capacitor systems.

Manufacturing facilities are located at Satna (Madhya Pradesh) and Verna (Goa), equipped with world-class VCV and CCV technology for high-end cable production.

*For full financial results, refer to the official media release PDF*

*Data as of November 13, 2025 | Results approved by Board of Directors on November 12, 2025*