Annual report
Shareholders meeting 7 Sep - Submitted FY2025-26 annual report and notice for 18th AGM.
Source: Nse
Prime Cable Industries Ltd. (PRIMECAB)
SME CapIndustrials stocks · SME cap · NSE
Prime Cable Industries Ltd. is an integrated cables and wires manufacturer catering to India's infrastructure and industrial ecosystem. It serves institutional clients like electricity boards, EPC players, and PSUs with a diversified portfolio including power, control, and aerial bunch cables. The company operates two units with a third planned, emphasizing quality and compliance.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result22 May, 06:51 pm IST
Score20 Oct, 05:22 pm IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
60BullishSMA20 +2.2% / mo · MACD +
Stock trend: 67
Sector RS: 50
Sector 3M: -6.3% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
PRIMECABD candles · FIT view+82.8%Latest close ₹192.35 on 2026-10-19
Bar
-0.0%
RSI
49
MACD hist
0.06
52W pos
80%
2026-10-19O ₹192.40H ₹192.50L ₹192.35C ₹192.35Vol 12,800 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
PRIMECABNifty India ManufacturingNifty 500
- PRIMECAB
- +12.6%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- +18.1 pp
Chart stats
19 Oct 2026- From 52W high
- -13.4%
- 52W range position
- 80%
- ATR (14)
- 5.0%
- Volume vs 20D
- 0.26x
- Avg traded value
- ₹0.9 Cr
- 20D price channel
- ₹165.4 - ₹217
₹222
₹70.4 - ₹222
₹9.6
Latest completed session
20-session average
52.2% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE58
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Pending data—
Revenue NDF · PAT NDF YoY
Technical
Bullish60
Price trend and sector-relative-strength timing.
Valuation
Legacy model+26.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence69
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Pending dataYoY comparison unavailable - result verdict pending data
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹144 Cr | NDF | +58.2% |
| EBITDA | ₹14 Cr | NDF | +40.0% |
| Operating margin | 10.0% | NDF | -100 bps |
| PAT | ₹7 Cr | NDF | +40.0% |
| PAT margin | 4.9% | NDF | -63 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 24.80
- P/B
- 5.78
- EV/EBITDA
- 16.16
- Market Cap
- 352.00Cr
Profitability
- ROE
- 37.80%
- ROCE
- 28.00%
- ROA
- 7.27%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 57.00%
- EPS 5Y
- 121.00%
- Revenue 3Y
- 47.00%
- EPS 3Y
- 302.50%
Balance Sheet
- Debt/Equity
- 0.85
- Interest Coverage
- 4.80×
- Altman Z
- 4.51
- Book Value
- 33.20
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- -13.00 Cr
- EPS TTM
- 6.68
Shareholding
- Promoter Hold
- 68.53%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 80%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 144+58.2% vs prev
Net Profit
₹ CrLatest: 7.0+40.0% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 49. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~2.1% over last month) — short-term momentum positive.
- RSI(14) at 49 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 13% off 52W high · 173% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
95
RS percentile
Stage 2 UptrendEstablished S2
1M return
+17.4%
3M return
+12.6%
6M return
+91.4%
1Y return
+104.5%
RS 1D
0
RS 20D
0
Sector rank
#2
Industry rank
#8
Stage evidence
- Price is 33.5% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +12.1%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 observed by
25 May 2026
S2 age
104 trading sessions
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 253.43-4.00%
RS vs Nifty 500253
Valuation & peers
U-Score 58 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 58 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · FAIR VALUEValuation6/30
Growth25/25
Quality20/20
Balance Sheet7/15
Cash Flow0/10
Piotroski
6/9 (+3)
Penalties
-3
Raw sum
58
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
58/100 · legacy band FAIR VALUE
Positive drivers
- Fair-value margin of safety is positive at 26.7%.
- Growth contributes 25/25 to the score.
- Quality contributes 20/20 to the score.
Main drags
- Penalty bucket subtracts 3 points.
- Cash flow is weaker at 0/10; verify the latest quarterly trend.
- Valuation is weaker at 6/30; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
24.8
PB
5.8
EV/EBITDA
16.2
ROE
37.8%
ROCE
28.0%
FCF Yield
—
Debt/Equity
0.8
MoS
+26.7%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
58
Previous: 58
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+26.7%
Previous: +26.7%
Score history
12 stored score snapshots. Latest stored move: +1 points.
20 Oct 2026
v4.3-runtime-valuation
55
55
55
55
55
55
55
55
55
55
57
58
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹70.64
-172.3% MoS
Growth-justified P/E
39.3
Growth-justified Value
₹262.52
+26.7% MoS
PEG
0.13
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
DCG
SME
DCG Cables & Wires Ltd.
Electrical Equipment
match 83
51
15.5
10.4%
+62%
FAIR VALUE
REXPIPES
SME
Rex Pipes and Cables Industries Ltd.
Electrical Equipment
match 82
27
35.7
10.9%
+17%
OVERVALUED
MARCO
SME
Marco Cables & Conductors Ltd.
Electrical Equipment
match 80
38
15.2
12.2%
+61%
WATCHLIST
JAINIK
SME
Jainik Power Cables Ltd.
Electrical Equipment
match 73
58
17.5
25.6%
+30%
FAIR VALUE
VMARCIND
SME
V Marc India Ltd.
Electrical Equipment
match 72
56
40.5
41.2%
-12%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-08-21T08:15:16.518Z
Management commentary snapshot
FY26 revenue grew 67% YoY to INR 234.9 Cr, with EBITDA up 61% to INR 23.5 Cr. PAT increased 67% to INR 12.3 Cr. Unexecuted order book stands at INR 191.0 Cr (as of May 15), to be executed in 4-6 months. Debtor days increased to 85 days, and CCC to 81 days.
While revenue and profit growth are strong, the significant deterioration in debtor days and cash conversion cycle raises concerns about working capital management and the quality of growth. The large order book provides near-term visibility, but execution and cash generation from these orders need close monitoring.
Current business mix
Revenue split by products - FY26
Latest issuer-disclosed distribution across 4 reported categories.
Control cables38.9%
Power cables28.7%
Aerial bunch cables26.6%
Others5.8%
Growth engines
Geographic Expansion
Current revenues concentrated in 5–6 key states; significant headroom to expand into underpenetrated and new states across India.
Product Portfolio Diversification
Planned expansion into medium voltage (MV) cables (1.1 kV - 33 kV) to participate in higher-value power transmission projects.
Capacity Expansion
Increased capacity from 15,000 KMs (FY22) to 34,000 KMs (FY26), with new unit adding 5,000 kms/annum by H1 FY27.
Deepening Institutional Client Relationships
Leverage long-standing relationships with electricity boards, EPC players, and PSUs to increase wallet share and cross-sell.
Capacity and execution
New Ghiloth Facility (Unit 3)
New Ghiloth facility (Unit 3) on track for commissioning by end of H1 FY27.
MV Cable Capacity Addition
Installed capacity: 5,000 kms per annum by the end of H1 FY27 and 8000+ kms per annum by Q1 FY28 at the new unit.
Targeted Utilization Ramp-up
Targeted Capacity Utilization for new unit: 28% in FY27, 45% in FY28, and 85% at peak.
Tailwinds
Power Infrastructure Transformation
Ongoing grid modernization, smart metering, and loss reduction initiatives are driving demand for cables.
Renewable Energy and Grid Integration
Large-scale solar and wind capacity additions and dedicated transmission infrastructure are increasing cable demand.
Infrastructure and Real Estate Expansion
Continued build-out across roads, railways, ports, and urban infrastructure, alongside strong growth in residential and commercial real estate.
Industrialization and Automation
Growth in manufacturing and industrial capex, with rising adoption of automation systems requiring precision cabling.
Risk radar
Working Capital Management
Significant increase in debtor days (85 days) and cash conversion cycle (81 days) in FY26, indicating potential strain on liquidity.
Execution Risk for New Capacity
Ramp-up of new Ghiloth facility (Unit 3) to 85% peak utilization by FY28 is ambitious, requiring sustained demand and efficient project execution.
Competition in Fragmented Market
Indian cables and wires market is highly fragmented with 100+ manufacturers, posing competitive pressures despite B2B focus.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The presentation primarily provides annual (FY24, FY25, FY26) and half-yearly (H2 FY25, H2 FY26) comparisons, with a clear emphasis on year-over-year growth rates for key financial metrics. This indicates that annual performance trends are more relevant for assessing the company's trajectory.
Sector KPIs management disclosed
Unexecuted Order Book
Unexecuted order book as of 15 May: 191.0 crores, to be executed over the next 4-6 months.
Revenue Cover
Unexecuted order book of INR 191.0 Cr to be executed over the next 4-6 months, providing short-term revenue visibility.
Capacity Utilization
Narela (Unit 1) and Ghiloth (Unit 2) facilities almost achieved peak utilization in Mar ’26. FY26 annualized capacity utilization was 55%.
EBITDA Margin
FY26 EBITDA margin was 10.0%, a 38 bps decline YoY from 10.4% in FY25.
Management forward view
Revenue Growth Outlook
Revenue expected to grow at 45% CAGR over next 2 years, driven by strong demand tailwinds, peak utilization, and new capacity ramp-up.
Strategic Product Shift
Transitioning towards higher-margin products, with planned entry into the medium voltage (MV) segment.
Explore Export Opportunities
Strategic focus on expanding into select international markets to leverage product quality and certifications.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Debtor Days | 85 days (FY26) | Stabilization or reduction in debtor days to improve cash flow and working capital efficiency. |
| Cash Conversion Cycle (CCC) | 81 days (FY26) | Improvement in CCC, indicating better working capital management and liquidity. |
| New Unit Utilization (Ghiloth Unit 3) | 28% (FY27 target) | Track ramp-up of Ghiloth Unit 3 utilization against targeted 45% in FY28 and 85% at peak. |
| Order Book Execution | INR 191.0 Cr (as of May 15) | Timely execution of the unexecuted order book within the stated 4-6 month timeframe. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
69Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 59th percentile of the scored universe and 56th percentile within Industrials. Main check: cash conversion is weak at 28/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
5 docs text-extracted · 2 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
59th percentile
overall median 67 · Industrials: 56th pctile, median 68 · SME: 77th pctile, median 64
Evidence depth
Financial-only
5 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
81
strong · leverage and solvency
Discipline
98
strong · capital discipline
Results
63
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 68.5%.
- ▸Promoter pledge is zero.
- ▸ROCE is 27.8%.
- ▸OPM spread across recent quarters is 1%.
Trust risks
- ▸Operating cash flow is negative at ₹-13 Cr.
- ▸Only 0 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Prime Cable Industries Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Concall transcriptMay 2026
May 2026 · Transcript
Source: Nse
Investor presentationMay 2026
May 2026 · PPT
Source: Nse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
Investor presentationMar 2026
Mar 2026 · PPT
Source: Nse
Annual reportMar 2026
Sep 2026 · Copy of Newspaper Publication 8 Sep - Prime Cable Industries dispatched AGM notice and FY2025-26 annual report; AGM scheduled for 30 September 2026 at 2:00 PM via VC/OAVM.
Source: Nse
Concall transcriptNov 2025
Nov 2025 · Transcript
Source: Nse
Investor presentationNov 2025
Nov 2025 · PPT
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.