Dynamic Cables Limited reported a profit of Rs 173.4 crore, with a healthy rise of 30% yoy . Company made a significant leap in its MVCC product and upgradation in the RDSO market segment .
Dynamic Cables Limited (DCL), a Jaipur based power cable manufacturer, announced its results for Q2FY23 on November 14 (PNN).The company reported a profit of Rs 173.4 crore, with a healthy rise of 30% yoy.Company made a significant leap in its MVCC product and upgradation in the RDSO market segment in the third quarter, which will play a crucial role in driving company's expansion.Despite a turbulent environment characterized by high volatility in key raw material prices and significant investment in product development, the company's profits stayed stagnant at Rs.7.2 crs.
Mr. Bharat Moossaddee, an industry veteran, has been appointed as an Independent Director of the corporation.He is a Chartered Accountant with an MBA from IIM Ahmedabad, and he has completed the Thunderbird University, USA Leadership Program.He has extensive experience of 35+ years in Business Strategy, Consulting, Corporate Law, Finance, General Management, Investment Banking, Legal, Management, Taxation, and Venture Capital.He worked with Mahindra group for 9 years until 2021, serving as CFO and CIODigital position, as well as running many Mahindra group start-ups from incubation, fund raising, and moving them to stable state operation. During his illustrious career, he served on the board of 25+ companies and held positions in Audit, CSR, and NRC committees of various firms.Dynamic Cables Ltd.'s Managing Director Ashish Mangal said, We are delighted to welcome Mr. Bharat Moossaddee, a veteran engineer on our board as an Independent Director, and I am confident that his breadth, technical expertise, and technical expertise will be an invaluable asset to the company as it embarks on the next phase of stable profitable growth.It provides cables to Government Discoms, Private Distribution firms, Private EPC contractors, and industrial and export clients.3 production plants are located at Jaipur and Reengus, respectively. The site has been prepared by PNN and is not responsible in any way for the content in this article.dout