Delton Cables Ltd

BSE: 504240

₹ 656.6-3.70%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 567 crWebsite: www.deltoncables.comUpdated: 24 Oct 2026

About

Delton Cables Ltd makes wires and cables, which it reports as a single segment, and sells them to EPC contractors, Indian Railways and telecom customers. The company has a history of over seven decades and runs its main plant at Faridabad and two more facilities at Palwal, Haryana. Revenue from operations was Rs. 98,638 Lakhs in FY26, compared with Rs. 70,926 Lakhs in FY25.^[1][2][3]

Business segments

The company reports a single segment, Wires and Cables (FY26).^[1]
Revenue mix in H1 FY26: EPC 49%, railways 33%, telecom and other 18%.^[2]
Revenue mix in Q1 FY26: EPC 51%, railways 31%, telecom and other 18%.^[4]
Revenue mix in FY25: railways 45%, EPC 43%, telecom and other 11%.^[5]
In H1 FY26, EPC revenue grew 51% and telecom revenue grew 86%. Railway revenue fell 11%, which management said was a deliberate choice because of the segment's lower margins.^[2]

Manufacturing operations

As of FY26, the main manufacturing unit is at Faridabad, with two more facilities at Palwal, Haryana. One of the Palwal facilities was commissioned during FY26 and focuses on telecom.^[1]
Plant-III is a leased site of 59,825 sq ft next to Plant II at Prithla, Haryana. It began operating on June 7, 2025 to serve demand from telecom operators.^[4][5]
The FY25 annual report says a Palwal facility commissioned that year focuses on smart metering.^[6]
The company had 345 permanent employees as of March 31, 2026.^[1]

Key operating numbers

Capacity utilisation at Plant I and Plant II was 81% in FY25, compared with 76% in FY24 and 44% in FY22.^[5][7]
Fixed asset turnover was 13x in FY25, up from 6.3x in FY22.^[2]
Working capital days were 109 in FY25, compared with 138 in FY24 and 218 in FY22. The cash conversion cycle was 87 days in FY25, compared with 112 days in FY24.^[2]
Management aims to keep the working capital cycle at 100-110 days (stated in Q2 FY26).^[2]

Order book

The order book was ₹4,250 million as of September 30, 2025. About 91% of it came from EPC and telecom orders.^[2]
The order book was ₹3,090 million as of June 30, 2025, with 81% from EPC and telecom. It was ₹3,000 million as of March 31, 2025.^[4][5]
The order book was ₹3,100 million as of December 31, 2024, made up mostly of EPC orders.^[7]

Customers and approvals

As of FY26, the company holds approvals and vendor registrations with Indian Railways, defence establishments, public sector undertakings and State utilities.^[1]
The FY26 report says the company sells to both government and private customers, has a growing presence in domestic and export markets, and does not depend on any single customer, industry or geography.^[1]
The FY25 report names import substitution and deeper penetration of rural markets as growth routes.^[6]

Raw materials and pricing

As of FY26, copper, aluminium and PVC make up most of the cost of production.^[1]
In FY26, the company said it selects orders with price variation clauses linked to published raw material price indices.^[1]
Q3 FY25 EBITDA margin was 6.24%, compared with 7.7% in Q3 FY24. The company attributed the fall to higher raw material prices.^[7]

Expansion plans

The company targets revenue of ₹2,500 crore by 2030 through a phased capex plan that it calls asset-light. Revenue was about ₹400 crore in 2024 (reaffirmed in Q2 FY26).^[2]

Recent developments

Revaluation of freehold land in FY26 added Rs. 24,002.50 Lakhs to shareholders' equity. The debt-equity ratio fell to 0.47 from 0.96.^[1]
Profit after tax for FY26 was Rs. 1,472 Lakhs, compared with Rs. 2,051 Lakhs in FY25. The company cited changes in input costs, operating expenses and the cost of capacity expansion.^[1]

Market Cap

₹567 Cr

High / Low

₹780 / 336

Stock P/E

29.5

Price / Book

1.6

Book Value

₹397

EPS

₹17.0

No. of Shares

0.86 Cr

ROCE

14.9%

ROE

6.8%

OPM

6.0%

Debt / Equity

0.47

Sales

₹986 Cr

Net Profit

₹15 Cr

Promoter holding

73.0%

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