Prime Cable Industries has received an order worth Rs 8.967256594 crore from a joint venture of Tata Power and Government of Odisha. The scope covers supply of LT cables, with the contract running for 2 years and ending on August 25, 2028.

This order was disclosed to the exchange on August 31, 2026, and is classified as a significant order. It is not a related-party transaction and carries no promoter interest. The order value is stated as inclusive of tax treatment.

Order in Financial Context

The Rs 8.967256594 crore order represents a significant incremental booking for the company. Its size relative to average quarterly revenue cannot be calculated as the Trailing Twelve Month (TTM) revenue stands at Rs 0.0 crore. Consequently, the book-to-bill ratio is not computable on a standard revenue basis.

Prime Cable Industries has now disclosed orders from multiple domestic entity types, including a reputed state discom, a reputed EPC contractor, and a joint venture between a private power company and a state government.

Company Order Track Record

Order inflow has been recorded across Q1FY27 and Q2FY27, with the Q2FY27 quarter reflecting two separate disclosures on August 31, 2026.

Detailed Order History

Execution and Revenue Quality

The company's consolidated financials show zero revenue and zero net profit for the trailing twelve months, resulting in a 0.0% Operating Profit Margin (OPM). This lack of recent revenue data makes it difficult to assess whether existing backlogs are converting into revenue.

Working Capital and Execution Capacity

With no operating cashflow or free cashflow data available for the latest period, the company's ability to fund working capital requirements for these orders remains unquantified from public filings. The 2-year execution window on the Tata Power joint venture order provides a longer horizon compared to the previously disclosed contracts.

Key Observations

• Zero revenue base: TTM revenue is Rs 0.0 crore, rendering traditional valuation multiples less relevant for immediate comparison. The market cap of Rs 358.24 crore (as of 31 Aug 2026) reflects forward-looking expectations rather than current earnings.
• High ROCE vs Zero Earnings: Despite reporting zero profit in the TTM period, the company maintains a Return on Capital Employed (ROCE) of 47.12% based on FY25 audited financials.
• Small Cap Scale: With a market cap of Rs 358.24 crore (as of 31 Aug 2026), the company falls into the small-cap category.
• Multiple entity types: Orders have now been received from a state discom, an EPC contractor, and a joint venture of a private power company and a state government, indicating engagement across different domestic buyer categories.

Purshotam Singla, a promoter of prime cable industries , has confirmed that no shares held by him or persons acting in concert were encumbered or pledged during the financial year ended March 31, 2026. This declaration provides assurance to the market regarding the stability of the promoter's holding structure during FY26.

The disclosure was submitted to the National Stock Exchange of India Limited (NSE) Emerge on April 7, 2026. The filing was made in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which mandates such annual declarations from promoters.

Key Details of the Disclosure

The declaration covers the promoter and persons acting in concert (PACs). The table below summarizes the key information from the filing:

The confirmation of zero encumbrance indicates that the promoter's shareholding remains free from liens or pledges, which is a positive indicator for corporate governance. The document was also copied to the Audit Committee and the Company Secretary of Prime Cable Industries Limited.