JD Cables Limited (BSE: 544524), a leading manufacturer of power cables, control cables, and aluminium conductors, has reported a robust financial performance for the first half of fiscal year 2026 (H1FY26). The company's strategic expansion and strong order book position it well for future growth.

Financial Highlights

For the half-year ended September 30, 2025, JD Cables demonstrated solid growth across key financial metrics:

The company's total income rose by 12.95% year-on-year to ₹121.44 crore, while EBITDA saw a significant increase of 25.44% to ₹19.24 crore. Net profit also grew by 15.67% to reach ₹11.92 crore, reflecting improved operational efficiency and market demand.

Strategic Expansion and Operational Highlights

JD Cables has made significant strides in expanding its manufacturing capabilities and market presence:

1. New Industrial Facility: The company acquired a new industrial facility at Dankuni, Hooghly, for ₹10.45 crore. This 118,288 sq. ft. facility with ready industrial sheds is expected to boost production capability and operational flexibility.

2. Capacity Enhancement: JD Cables has placed machinery orders worth ₹5.72 crore for its Conductor Division, to be installed at the new unit. This investment aims to enhance efficiency and output.

3. Strong Order Book: The company maintains an order book of ₹286.21 crore, providing revenue visibility for the coming quarters.

4. Market Expansion: JD Cables has strengthened its presence across over 10 states, with growing traction in the Northeast, Bihar, Jharkhand, and West Bengal. The company has also secured new vendor approvals from state electricity boards in Himachal Pradesh and Punjab.

5. Successful IPO: The company listed on the BSE SME platform on September 25, 2025.

Management Commentary

Mr. Piyush Garodia, Promoter & Director of JD Cables Limited, commented on the results: "We delivered a stable and consistent performance in H1 FY26, supported by healthy demand for our cables and conductors. Our strategic expansion, marked by the acquisition of the new industrial facility and additional machinery orders, significantly enhances our manufacturing capacity and positions us to meet rising market demand more efficiently."

He added, "With the successful completion of our IPO and listing on the BSE SME platform, we are entering the next phase of growth with strengthened financial flexibility. Backed by expanding capacity, widening SEB approvals, and growing geographic reach, we remain confident in accelerating scale and delivering long-term value."

Future Outlook

JD Cables Limited's financial performance, coupled with its investments in capacity expansion and market reach, positions the company for growth. The order book of ₹286.21 crore provides visibility for future revenues, while the new manufacturing facility is expected to improve delivery timelines and operational efficiency.

As the company continues to expand its presence across key regions and secure new vendor approvals, it is positioned to capitalize on the demand in India's power infrastructure sector. However, investors should monitor how effectively JD Cables utilizes its newly acquired resources and navigates potential challenges in the power sector landscape.

JD Cables Limited, a manufacturer of cables and conductors, has reported that there were no deviations or variations in the utilization of proceeds raised from its Initial Public Offering (IPO) for the half-year ended September 30, 2025. This announcement comes as part of the company's compliance with regulatory requirements and commitment to transparency.

Key Highlights

• The company's Audit Committee reviewed and provided favorable remarks on compliance with fund utilization requirements.
• The IPO funds were allocated across various purposes, including working capital, debt repayment, and general corporate purposes.

Fund Allocation Breakdown

Monitoring Agency Report

CRISIL Ratings Limited, appointed as the Monitoring Agency, has issued a report for the quarter ended September 30, 2025, stating that the funds are being utilized as per the objects stated in the offer document. The report indicates that:

1. There has been no deviation from the stated objectives of the IPO.
2. The unutilized amount of Rs. 7,854.00 lakhs has been temporarily invested in fixed deposits and maintained in bank accounts.
3. The company has not yet begun utilizing the funds for the stated purposes as of the report date.

Management Commentary

Piyush Garodia, Managing Director of JD Cables Limited, stated, "We are pleased to report that the utilization of our IPO proceeds is progressing as planned. Our focus remains on strengthening our working capital, reducing debt, and investing in the overall growth of the company. We are committed to using these funds judiciously to create long-term value for our shareholders."

Future Outlook

The company has not yet deployed the funds for their intended purposes. The management has reiterated its commitment to utilizing the IPO proceeds as outlined in the offer document.

The timely disclosure and adherence to the stated objectives demonstrate JD Cables' commitment to good corporate governance practices.