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Cords Cable Industries (Cords) was established in 1987 by a group of industry professionals with an objective of catering to a growing requirement for high quality customized cables. Cords has been catering to the special requirements of various industries such as Power, Oil & Gas, Refineries, Steel, Cement, Water Desalination, Metro Rail, Airports etc. Its products include wide range of LV Power, Control, Instrumentation and custom designed cables.
Quarter results
In June 2019 quarter sales grew 20% to Rs 109.97 crore. OPM fell 50 basis points to 8.9%. Thus OP grew 14% to Rs 9.77 crore.
Other income grew 22% to Rs 53 lakh and interest cost was up 3% to Rs 5.87 crore.
As depreciation grew 35% to Rs 1.85 crore, PBT grew 31% to Rs 2.58 crore.
Tax provision jumped 62% to Rs 99 lakh after which PAT grew 17% to Rs 1.60 crore.
FY 2019 results
In FY 2019 sales grew 14% to Rs 416.75 crore. OPM fell 30 basis points to 9.4%. Thus OP grew 11% to Rs 39.18 crore.
Other income stayed at Rs 1.75 crore and interest cost was up 4% to Rs 23.93 crore.
As depreciation grew 12% to Rs 5.67 crore, PBT grew 23% to Rs 11.34 crore.
Tax provision jumped 35% to Rs 3.99 crore after which PAT grew 17% to Rs 7.35 crore.
Valuation
The scrip trades at Rs 42.
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