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Swing Capital

Universal Cables Ltd

NSE: UNIVCABLES BSE: 504212Energy

Universal Cables Ltd is predominantly engaged in the business of manufacturing a large range of power cables from 1.1kV to 400kV & capacitors, Turnkey Projects relating thereto and other types of wires and cables, conductors, etc. [1]

₹971
52W: ₹540 — ₹1234
PE 33.1 · Book ₹261 · +272% vs book
Market Cap₹3,369 Cr
Stock P/E33.1Price to Earnings
ROCE10.5%Return on Capital
ROE6.74%Return on Equity
Div. Yield0.41%Face Value ₹10

Strengths

  • +Company has been maintaining a healthy dividend payout of 20.0%

Weaknesses

  • −Stock is trading at 3.69 times its book value
  • −The company has delivered a poor sales growth of 8.95% over past five years.
  • −Company has a low return on equity of 7.68% over last 3 years.

Shareholding Pattern

Promoters61.89%
FIIs0.68%
DIIs4.54%
Public32.89%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters61.89%61.89%61.89%61.89%61.89%61.89%61.89%61.89%
FIIs0.37%0.18%▼0.20.24%▲0.10.18%▼0.10.18%0.41%▲0.20.81%▲0.40.68%▼0.1
DIIs5.24%6.63%▲1.46.58%▼0.06.62%▲0.06.66%▲0.06.1%▼0.64.51%▼1.64.54%▲0.0
Public32.49%31.28%▼1.231.28%31.31%▲0.031.28%▼0.031.61%▲0.332.78%▲1.232.89%▲0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales494467580489638608674600814768
Expenses471426519457591569612542741708
Operating Profit23416132473962587460
OPM %5%9%11%6%7%6%9%10%9%8%
Net Profit811262191027203719
EPS ₹2.33.27.50.485.452.87.785.6210.535.4

AI Insights

Revenue Trend

TTM revenue at ₹2,856Cr, up 18.7% YoY. OPM at 9%.

Debt Position

Borrowings at ₹1,014Cr. Debt-to-equity ratio: 1.16x. High leverage — monitor closely.

Capex Cycle

CWIP at ₹58Cr (18% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 4.54% (+2.06pp change). FIIs: 0.68% (+0.33pp change). Promoters hold 61.89%.

Margin & Efficiency

ROCE improving from -3% (Mar 2014) to 11% (Mar 2025). Working capital days: 79.

Valuation

PE 33.1x with 10.5% ROCE. Price is 272% above book value of ₹261. Dividend yield: 0.41%.

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