Ultracab (India) Limited , a prominent player in the wires and cables industry, has released its unaudited standalone financial results for the first quarter of the fiscal year, ending June 30. The company has reported a mixed performance, with revenue growth but a slight dip in profitability.

Financial Highlights

• Revenue from operations increased to Rs 6,013.48 lakh, up from Rs 5,369.45 lakh in the same quarter last year, marking a growth of 12%.
• Profit for the period stood at Rs 170.27 lakh, compared to Rs 212.74 lakh in the previous year's quarter, showing a decrease of 20%.
• Earnings per share (EPS) for the quarter was Rs 0.14.

Key Financial Metrics

Board Committee Restructuring

Following the resignation of Independent Director Mr. Vipul Mansukhbhai Patel, Ultracab has announced the reconstitution of its Audit and Stakeholders Relationship Committees. The key changes include:

• Mrs. Viralben Chetankumar Dave has been appointed as Chairperson of both the Audit Committee and the Stakeholders Relationship Committee.
• The Audit Committee now comprises Mrs. Viralben Chetankumar Dave (Chairperson), Mr. Nitesh Vaghasiya (Member), and Mr. Satish Kalkani (Member).
• The Stakeholders Relationship Committee includes Mrs. Viralben Chetankumar Dave (Chairperson), Mr. Satish Kalkani (Member), and Mrs. Aarti Shingala (Member).

Tax Regime Change

Ultracab has adopted a new tax regime under section 115BAA of the Income Tax Act, with a tax rate of 25.17%. This change has been reflected in the company's financial statements for the quarter ended June 30.

Management Commentary

Pankaj Shingala, Whole-time Director of Ultracab (India) Limited, stated, "While we have seen robust top-line growth this quarter, we are actively working on improving our profitability. The restructuring of our board committees is part of our ongoing efforts to enhance corporate governance and operational efficiency."

The company's board meeting, held on August 6, commenced at 4:00 PM and concluded at 5:00 PM. Ultracab has also revised its statutory policies and codes in accordance with the Companies Act, 2013 and SEBI Listing Regulations, which will be made available on the company's website.

Investors and stakeholders can access the detailed financial results on the company's website at www.ultracabwires.com and on the BSE Limited website at www.bseindia.com .

Ultracab India Ltd , a leading manufacturer and exporter of electric wires and cables, has announced a significant business development that has caught the attention of investors and industry observers alike.

Contract Details

The company has secured an annual rate contract worth ₹9.70 crore from Adani Electricity Mumbai Limited, a subsidiary of Adani Transmission Ltd. This contract involves the supply of LT PVC Cables of various sizes, showcasing Ultracab's strong position in the electric wire and cable manufacturing sector.

Strategic Importance

This order win is particularly noteworthy as it comes from a major player in the power distribution sector. Adani Electricity Mumbai Limited is a leading power distribution utility company serving over 12 million consumers in Mumbai and its suburbs, with a distribution network spanning more than 400 sq km.

Contract Execution and Impact

According to the company's disclosure to the BSE, the supply under this contract is scheduled to be completed on or before March 2026. Ultracab India's management expressed confidence that this order will contribute positively to the company's revenue and profitability in the coming periods.

Company Background

Ultracab India Limited, with its registered office in Shapar (Veraval), Gujarat, has been operating in the wire and cable industry for over two decades. The company prides itself on using advanced machinery and the latest technology to manufacture high-quality products.

Market Implications

This contract win from a prestigious client like Adani Electricity Mumbai Limited not only adds to Ultracab's order book but also reinforces the company's reputation in the market. It demonstrates the trust that major industry players place in Ultracab's product quality and delivery capabilities.

The news of this contract is likely to be viewed positively by investors, as it indicates potential for steady revenue streams and possibly improved market share for Ultracab India in the competitive wire and cable manufacturing sector.

As Ultracab India Ltd continues to secure such significant contracts, it will be interesting to observe how this translates into the company's overall financial performance and market position in the coming quarters.