DCG Cables & WiresShare price, financial results, shareholding and management

NSE Emerge · DCGCopper conductorsListed 16 April 2024IPO ₹100
dcgcableswiresltd.com ↗Live price on NSE ↗ISIN INE0S8401018 · Lot 1,200 shares · ₹84,000
₹70.00
+0.10% on the day
Close · 6 Nov 2026
Valuation
Market cap
₹127 cr
Stock P/E
14.7peers 8.3
Book value
₹48.4
Price to book
1.45
EV / operating profit
7.4
Market cap to sales
0.78
Returns and growth
ROCE · FY26
13.4%
ROE · FY26
10.4%
ROE, 3-year average
24.1%
Operating margin · FY26
15.0%peers 7.6%
Sales growth, 3 years
43.7%
Profit growth, 3 years
62.9%
Safety
Debt to equity
0.71peers 0.43
Borrowings
₹62.5 cr
Interest cover
3.2×
Cash from business / op. profit
22%
Debtor days
36
Pledged
0.00%
Ownership and share
Promoter holding
72.45%
Change in promoter holding
0.00 pts
Shareholders
1,955
52-week high / low
₹94 / ₹47
Dividend yield
0.00%
Face value
₹10

Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.

DCG Cables & Wires share price chart

₹70.00+12.36% 1 year

Close on 6 Nov 2026 · +0.14% on the day · Vol 32,400

Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.

Share price returns

To the close of 6 Nov 2026

1 month
-6.4%
3 months
+25.8%
6 months
-2.7%
1 year
+12.4%
Since IPO
-30.0%
Traded a day, 20 days
₹0.09 cr
Taken for delivery
94%

Business growth

Sales and net profit, from the reported results

SalesProfit
FY26 on FY25+28%+7%
3 years, a year+44%+63%
Latest half, H2 FY26+33%-15%

About DCG Cables & Wires: business, products and customers

DCG Cables & Wires turns copper into the strips, wires and paper-wrapped conductors that go inside electrical transformers, and supplies them to transformer makers across India. Its shares trade on NSE Emerge.

DCG Cables & Wires, set up in Ahmedabad in 2017 as DCG Copper Industries, draws, rolls and covers copper into bare strips and wires, conductors wrapped in kraft, crepe, Nomex or mica paper, fibre glass covered strips, copper tapes, rods and flats, and wires for submersible pumps. Its main buyers are transformer manufacturers, which need conductors cut to exact sizes and lengths for each winding design. It has two plants, at Odhav and Bavla near Ahmedabad, and holds ISO 9001:2015 certification.

Copper is by far the largest cost, so revenue rises and falls with the copper price as well as with tonnes sold, and the company keeps only the spread left after the metal. A sharp move in the London copper price or the rupee changes what each sale fetches, what its stock of copper is worth and how much money it needs to carry that stock. The business borrows to hold copper and wait for payment, so interest and, after the recent expansion, depreciation take a growing share of that spread.

Read more about the business

The documents name no competitors. The annual report calls the copper conductor business highly competitive, with established players, new entrants and large integrated manufacturers, and the rating agency describes the transformer and conductor market as crowded, with price cuts by a few players able to dent margins.

What is new: added capacity at Odhav and Bavla, commissioned under an expansion whose cost was raised to ₹41.54 cr from ₹36.77 cr; a new independent director, Aditya Vikrambhai Patel, from May 2026 after Utkarsh Shah resigned in March 2026; a fine of ₹1.71 lakh from the exchange in June 2026 over a wrongly uploaded auditor's report; and a proposal to raise the Managing Director's pay limit to ₹12.5 lakh a month.

From the offer document (prospectus, 2024), the annual report 2025-26, the Infomerics rating notes of March 2025 and April 2026, and the company's filings of March and July 2026.

Read the deeper study ↓

In its favour

  • Sales have grown fast: 44% a year over three years.
  • The promoters own a large part of the company: 72.45%.

To watch

  • Use of the capacity added under the ₹41.54 cr expansion, which the annual report says has been commissioned at Odhav and Bavla (Annual report 2025-26, p.27; Infomerics rating note, April 2026, p.4).
  • Drawdown of the ₹12.87 cr SIDBI term loan, of which ₹3.92 cr was drawn by February 2026 (Infomerics rating note, April 2026, p.4).
  • The shareholder vote on raising the Managing Director's pay limit to ₹12.5 lakh a month, put to the AGM of 30 September 2026 (Annual report 2025-26, p.10).
  • Copper prices and the stock the company holds, which the annual report names as the main risk to realisation and working capital (Annual report 2025-26, p.68).
  • Its borrowings rose a lot last year: ₹62.5 cr, from ₹35.6 cr.

From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.

DCG Cables & Wires revenue and profit growth

Half-yearly results · Profit and loss

Sales have grown fast. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.

Sales and net profit, every year, ₹ crore
SalesNet profit
050100150200Sales, FY20: 4 ₹ cr4Net profit, FY20: 0 ₹ cr0FY20Sales, FY21: 15 ₹ cr15Net profit, FY21: 0 ₹ cr0FY21Sales, FY22: 28 ₹ cr28Net profit, FY22: 0 ₹ cr0FY22Sales, FY23: 55 ₹ cr55Net profit, FY23: 2 ₹ cr2FY23Sales, FY24: 101 ₹ cr101Net profit, FY24: 9 ₹ cr9FY24Sales, FY25: 128 ₹ cr128Net profit, FY25: 8.1 ₹ cr8.1FY25Sales, FY26: 163 ₹ cr163Net profit, FY26: 8.7 ₹ cr8.7FY26
The latest halves, ₹ crore
SalesNet profit
0255075100Sales, H2FY23: 36 ₹ cr36Net profit, H2FY23: 1 ₹ cr1H2FY23Sales, H1FY24: 53 ₹ cr53Net profit, H1FY24: 5 ₹ cr5H1FY24Sales, H2FY24: 48 ₹ cr48Net profit, H2FY24: 4 ₹ cr4H2FY24Sales, H1FY25: 60 ₹ cr60Net profit, H1FY25: 5 ₹ cr5H1FY25Sales, H2FY25: 68 ₹ cr68Net profit, H2FY25: 3.3 ₹ cr3.3H2FY25Sales, H1FY26: 72.4 ₹ cr72.4Net profit, H1FY26: 5.9 ₹ cr5.9H1FY26Sales, H2FY26: 90.7 ₹ cr90.7Net profit, H2FY26: 2.8 ₹ cr2.8H2FY26

SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.

DCG Cables & Wires half-yearly results

SME companies report every six months · ₹ crore

₹ crore · growth on the same half a year before
H2FY23H1FY24H2FY24H1FY25H2FY25H1FY26H2FY26
Sales3653486067.9872.4490.66
Expenses3445405160.0459.0879.57
Operating profit18887.9413.3611.09
OPM3.9%15.0%17.0%14.0%11.7%18.4%12.2%
Interest01211.812.502.98
Depreciation00111.973.154.13
Profit before tax16665.027.834.44
Net profit15453.315.852.80

DCG Cables & Wires profit and loss

Full years to March, FY20 to FY26 · ₹ crore, consolidated where reported

₹ crore
FY20FY21FY22FY23FY24FY25FY26
Sales4152855101127.56163.10
Expenses414275185111.52138.65
Operating profit00141616.0424.44
OPM1.1%1.0%3.3%6.0%16.0%12.6%15.0%
Other income000001.120.59
Interest000133.105.48
Depreciation000012.677.29
Exceptional and other items··-1-1···
Profit before tax00021211.3912.26
Tax rate33.0%29.0%27.0%0.0%25.0%28.9%29.4%
Net profit000298.108.65
EPS ₹201000.941.286.734.474.77
Dividend payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%

The years to FY24 come rounded to the nearest crore in the source.

Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.

Earnings per share before FY22 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.

DCG Cables & Wires profitability

Margins and returns on capital

Last year the company kept more from each rupee of sales than the year before. It earns a moderate return on the money it uses.

Operating margin, every year

Per cent of sales kept before interest, depreciation and tax

0%5%10%15%20%FY20: 1.1%1.1%FY20FY21: 1.0%1.0%FY21FY22: 3.3%3.3%FY22FY23: 6.0%6.0%FY23FY24: 16.0%16.0%FY24FY25: 12.6%12.6%FY25FY26: 15.0%15.0%FY26
Per cent
FY20FY21FY22FY23FY24FY25FY26
Operating margin1.1%1.0%3.3%6.0%16.0%12.6%15.0%
Tax rate33.0%29.0%27.0%0.0%25.0%28.9%29.4%
ROCE·0.0%0.0%13.3%35.7%17.6%13.4%
ROE·0.0%0.0%20.0%46.2%15.7%10.4%
Dividend payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%

DCG Cables & Wires debt and cash flow

Balance sheet · Cash flow · Working capital

The company's own money, its net worth, has grown. It borrowed much more last year. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers pay faster than they did in FY24, which frees up the company's money.

Its own money and its borrowings, ₹ crore
Net worthBorrowings
0255075100Net worth, FY20: 0 ₹ cr0Borrowings, FY20: 0 ₹ cr0FY20Net worth, FY21: 0 ₹ cr0Borrowings, FY21: 0 ₹ cr0FY21Net worth, FY22: 5 ₹ cr5Borrowings, FY22: 6 ₹ cr6FY22Net worth, FY23: 15 ₹ cr15Borrowings, FY23: 19 ₹ cr19FY23Net worth, FY24: 24 ₹ cr24Borrowings, FY24: 26 ₹ cr26FY24Net worth, FY25: 79.2 ₹ cr79.2Borrowings, FY25: 35.6 ₹ cr35.6FY25Net worth, FY26: 87.8 ₹ cr87.8Borrowings, FY26: 62.5 ₹ cr62.5FY26
Cash from the business against net profit, ₹ crore
Cash from the businessNet profit
-30-20-10010Net profit, FY20: 0 ₹ cr0FY20Cash from the business, FY21: 0 ₹ cr0Net profit, FY21: 0 ₹ cr0FY21Cash from the business, FY22: -9 ₹ cr-9Net profit, FY22: 0 ₹ cr0FY22Cash from the business, FY23: -15 ₹ cr-15Net profit, FY23: 2 ₹ cr2FY23Cash from the business, FY24: 4 ₹ cr4Net profit, FY24: 9 ₹ cr9FY24Cash from the business, FY25: -23.1 ₹ cr-23.1Net profit, FY25: 8.1 ₹ cr8.1FY25Cash from the business, FY26: 5.3 ₹ cr5.3Net profit, FY26: 8.7 ₹ cr8.7FY26

Bars below the line are cash going out.

DCG Cables & Wires balance sheet

At each 31 March · ₹ crore

₹ crore
FY20FY21FY22FY23FY24FY25FY26
Equity capital0.010.014131318.1518.15
Reserves0012116169.65
Net worth0.010.015152479.1587.80
Borrowings006192635.6462.46
Other liabilities0.991.9922356.1512.05
Total liabilities12133685120.94162.31
Fixed assets0016941.8348.05
Capital work in progress0000304
Investments0000002.75
Other assets1212307379.11107.51
Receivables·····13.5215.99
Inventory·····36.4858.09
Cash·····2.589.41
Trade payables·····1.106.36

DCG Cables & Wires cash flow

₹ crore

₹ crore
FY20FY21FY22FY23FY24FY25FY26
Cash from operations·0-9-154-23.095.28
Cash from investing·0-1-5-7-32.99-19.78
Cash from financing·01119456.4621.33
Net cash flow·01-110.386.83
Capital spending·····32.9917.17

Working capital

Days

Days
FY20FY21FY22FY23FY24FY25FY26
Debtor days812671921773936
Inventory days97604879126165
Days payable832675133418
Cash conversion cycle77124135124160183
Working capital days8462805710851

DCG Cables & Wires peers and competitors

Listed SME companies in the same industry

By sales, DCG Cables & Wires is number 58 of the 156 listed SME companies in industrial products.

Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.

CompanyMarket cap ₹ crP/ESales ₹ crProfit ₹ crOp. marginDebt/equity
Munish Forge20520.318310.111.7%0.44
De Neers Tools1887.417825.321.8%0.77
Sampat Aluminium254.217865.0%0.36
D.K. Enterprises Global529.21695.75.5%0.62
DCG Cables & Wires12714.71638.715.0%0.71
Malpani Pipes And Fittings687.5163910.0%0.39
Swashthik Plascon364.6153816.0%0.95
AVSL Industries6430.11502.16.4%1.01
Shree Marutinandan Tubes153.615044.3%0.14
Mittal Sections3210.814935.0%0.43
RFBL Flexi Pack23528.51488.38.8%0.38
Median of the 10 others588.415877.6%0.43

DCG Cables & Wires shareholding pattern

Promoters, FIIs, DIIs, HNIs and small holders

The promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders has come down.

Promoters
72.45%
0.00 pts since Apr 24
Foreign investors (FIIs)
0.00%
at Mar 25; not in the latest pattern
Indian institutions (DIIs)
0.00%
at Mar 25; not in the latest pattern
HNIs (over ₹2 lakh each)
6.11%
+4.89 pts since Apr 24
Small holders (up to ₹2 lakh)
18.04%
-4.45 pts since Apr 24
Companies and others
3.40%
-0.18 pts since Apr 24
Number of shareholders
1,955
3,564 in Apr 24

DCG Cables & Wires shareholding pattern

Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.

Apr 24Sep 24Mar 25Sep 25Mar 26
Promoters72.45%72.45%72.45%72.45%72.45%
Foreign investors (FIIs)0.26%0.00%0.00%--
Indian institutions (DIIs)0.00%0.00%0.00%--
HNIs (over ₹2 lakh each)1.22%4.42%3.58%4.66%6.11%
Small holders (up to ₹2 lakh)22.49%20.25%20.82%19.61%18.04%
Companies and others3.58%2.88%3.15%3.28%3.40%
Number of shareholders3,5642,4012,3742,1601,955

The named holders are at 31 March 2026, beside 30 Sept 2025, each under the group the pattern files them in.

DCG Cables & Wires study: the business from its own documents

Read from 6 of the company's own documents

DCG Cables & Wires so far

From the company's own record

  1. 16 April 2024Listed on NSE Emerge at ₹100
  2. 3 Sept 2026An order announced
  3. 23 Sept 2026An order announced
  4. 31 March 2026Promoters at 72.45%
  5. 5 July 2024Highest close since listing, ₹162.23

DCG Cables & Wires key facts from the filings

Each figure with the document it comes from

Revenue
₹163.1 cr
Revenue from operations in FY26, up 27.86% from ₹127.6 cr, while profit after tax rose only 6.80% to ₹8.7 cr.Annual report 2025-26, p.68 and p.69
Copper cost
About 79%
Share of FY26 revenue spent on materials after the build-up of stock, which leaves a thin spread for every other cost.Annual report 2025-26, p.68; reported results, our arithmetic
Depreciation
₹7.3 cr
FY26 depreciation, up from ₹2.7 cr after new plant and machinery was added, the main reason profit lagged sales.Annual report 2025-26, p.69
Finance cost
₹5.5 cr
FY26 interest cost, up from ₹3.1 cr, on more working capital and term loans.Annual report 2025-26, p.68 and p.69
Top ten buyers
75.79%
Share of sales to the ten largest customers from April 2023 to February 2024, with no written supply agreements.Offer document, p.24
Show 5 more facts
Top ten suppliers
98.81%
Share of purchases from the ten largest suppliers in the same period; the annual report lists reliance on few copper suppliers as a weakness.Offer document, p.24; Annual report 2025-26, p.67
Expansion cost
₹41.54 cr
Revised cost of the capacity project, up from ₹36.77 cr; ₹32.59 cr was spent by February 2026 with completion due by 30 April 2026.Infomerics rating note, April 2026, p.4
Operating cycle
128 days
Days of money tied up in stock and receivables in FY25, as stock holding rose to 89 days from 52.Infomerics rating note, April 2026, p.4
Managing Director pay
Up to ₹12.5 lakh a month
Limit proposed from April 2026 to September 2028, against ₹12.6 lakh drawn in all of FY26 and ₹55 lakh in FY25.Annual report 2025-26, p.10 and p.27
Employees
153
Permanent employees at March 2026 across the two plants.Annual report 2025-26, p.69

Is it a good business? Six questions

Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.

The company earns a small conversion margin on copper it shapes for transformer makers, so its sales follow the copper price and the transformer building cycle.

Its weak spots are a few large buyers with no contracts, a crowded market, heavy money tied up in copper, and profit that has lagged sales since the expansion.

WatchCan it set its own prices?Copper costs are passed on, but the margin on top is set by a market where some players cut prices.
The evidence. The rating agency says price cuts by a few players are a serious concern that can dent margins, and that profitability is exposed to raw material price swings.Infomerics rating note, April 2026, p.4
WatchHow strong is it against rivals?It competes on customised sizes, delivery and price, not on a brand or technology the documents describe as unique.
The evidence. The annual report calls the business highly competitive, with established players, new entrants and large integrated manufacturers, and lists a narrow product range as a weakness.Annual report 2025-26, p.67 and p.68
WatchWho are its customers?Mostly transformer makers, with a few large buyers taking most of the sales and no written agreements.
The evidence. The top ten buyers took 75.79% of sales from April 2023 to February 2024 and 81.92% in FY23; the company has no written agreements with them.Offer document, p.24
WatchDoes it need a lot of money?Yes: holding copper and waiting for payment needs working capital loans, and the expansion added term debt.
The evidence. The operating cycle was 128 days in FY25. The expansion cost ₹41.54 cr, with a SIDBI term loan of ₹12.87 cr sanctioned, and finance cost rose to ₹5.5 cr in FY26.Infomerics rating note, April 2026, p.4; Annual report 2025-26, p.68
AverageCan it keep finding new work?Demand from transformer makers is strong on grid and renewable spending, and the promoter's long ties bring repeat orders, but nothing is contracted.
The evidence. The annual report says transformer makers have recorded strong order inflows and are adding capacity, and that the promoter's customer relationships since 2008 drove growth.Annual report 2025-26, p.66 and p.67
WatchDo good and bad years swing a lot?Copper price moves change sales, stock values and cash needs, so profit margins can move sharply from year to year.
The evidence. The annual report says a sharp move in the London copper price or the exchange rate affects realisation, inventory value and working capital. Profit margin fell in FY25 on higher raw material costs.Annual report 2025-26, p.68; Infomerics rating note, April 2026, p.2 and p.3

Who runs DCG Cables & Wires?

Promoters, directors and officers; tap a name for the background

DHDevangbhai Harshadbhai PatelPromoter and Managing Director · holds 68.29%

Passed the HSC examination in 2005 and has worked in the copper, cable and wire industry since 2008, according to the annual report; a first-generation entrepreneur in charge of finance, overall management and strategy. Managing Director until September 2028.

Offer document, p.108 and p.109; Annual report 2025-26, p.27 and p.67
HBHarshadbhai Bhogilal PatelPromoter and Non-Executive Director

Holds a diploma in automobile engineering (1973) and has more than two decades in the copper industry; also a director of Continuously Transposed Conductors Limited, Corex Metals and Green Rod (India).

Offer document, p.109; Annual report 2025-26, p.30
UHUshaben Harshadbhai PatelPromoter and Non-Executive Director · holds 4.15%

Passed the SSC examination in 1975; reviews the management team's performance against goals and the plans of the executive team. The annual report states that Devangbhai Harshadbhai Patel is the son of Harshadbhai Bhogilal Patel and Ushaben Harshadbhai Patel.

Offer document, p.109; Annual report 2025-26, p.27
AJAkshay JainChief Financial Officer

Named as Chief Financial Officer in the annual report 2025-26.

Annual report 2025-26, p.5
DRDhruvi Rameshbhai PatelIndependent Director

A commerce graduate of Gujarat University and associate member of the Institute of Company Secretaries of India since 2015, with experience in corporate law, listing compliance and due diligence.

Offer document, p.109; Annual report 2025-26, p.5
AVAditya Vikrambhai PatelIndependent Director

Appointed in May 2026 and chairs the audit committee; an independent director of several other listed companies, including Sigma Solve and Palsun Maritime (India).

Annual report 2025-26, p.5 and p.30

DCG Cables & Wires latest news and announcements

Announcements · Documents · Corporate actions

What changed recently

Each half-year is set against the same half a year earlier

  • H2 FY26: sales ₹90.7 cr (+33%), net profit ₹2.8 cr (-15%) on H2 FY25.
  • Shareholding, 31 March 2026: promoters unchanged at 72.45%.
  • 23 Sept 2026: an order announced.
  • 3 Sept 2026: an order announced.

DCG Cables & Wires annual reports, earnings calls and documents

Every document links to its source; “read” marks those this page is built from

DCG Cables & Wires share split, bonus and dividends

From the corporate actions the company announces on the exchange

No share split, bonus issue or dividend is on record since listing.

Checks we ran on DCG Cables & Wires' data · 9

Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.

  • ✓Balance sheet totals add up for FY25 and FY26.
  • ✓Market cap uses the share count in the latest shareholding pattern (1,81,49,600 shares).
  • ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
  • ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
  • ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
  • ✓The two half-years of FY26 add up to the full-year sales.
  • ✓Earnings per share moves in line with profit across the years shown.
  • ✓Revenue and profit are reported for every year shown, FY20 to FY26.
  • iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.

Questions people ask about DCG Cables & Wires

What does DCG Cables & Wires do?

DCG Cables & Wires turns copper into the strips, wires and paper-wrapped conductors that go inside electrical transformers, and supplies them to transformer makers across India. Its shares trade on NSE Emerge.

What is the share price of DCG Cables & Wires?

₹70 at the close on 6 Nov 2026, from the exchange's daily figures.

What is the market cap of DCG Cables & Wires?

₹127 cr at the close on 6 Nov 2026, on 1,81,49,600 shares.

What is the P/E of DCG Cables & Wires?

14.7 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).

What are DCG Cables & Wires' revenue and profit?

Revenue ₹163 cr and profit after tax ₹9 cr in FY26.

Who are the promoters of DCG Cables & Wires?

Devangbhai Harshadbhai Patel, Harshadbhai Bhogilal Patel, Ushaben Harshadbhai Patel; promoters held 72.45% at 31 March 2026.

What was the IPO price of DCG Cables & Wires?

₹100 a share; it listed on 16 April 2024.

What is DCG Cables & Wires' website?

www.dcgcableswiresltd.com

More SME companies like DCG Cables & Wires

Other listed SME companies in industrial products, the closest in size first, each read from its own documents.

Every listed SME company in Industrial Products → · SME companies listed in 2024 →

Built from 2 annual reports, 2 credit rating notes, 1 offer document, 1 result filing, 39 exchange announcements, 5 shareholding patterns and 7 years of reported results. Every figure carries its source; where the documents are silent, the page says so.