How much did JD Cables' debt load change?

The debt-to-equity ratio fell from 1.53x to 0.39x, a reduction of roughly three-quarters in a single fiscal year.

What drove the second-half acceleration?

H2 revenue surged 70% to ₹243.75 crore, accounting for about two-thirds of the full-year total. The ₹515 crore order book suggests strong execution on existing contracts.

What does the order book mean for future earnings?

The ₹515 crore order book represents roughly 1.4x full-year revenue. This provides visibility on near-term earnings, though conversion rates are not disclosed.

Is the current ratio improvement meaningful?

A current ratio of 2.25x means the company has ₹2.25 in current assets for every ₹1 of short-term liabilities. This removes near-term liquidity risk for a fast-growing manufacturer.

Earnings · Wires & Cables · Micro cap

JD Cables cuts debt to 0.39x after a 46% revenue jump

Full-year profit climbed 44% to ₹31.72 crore. The balance sheet is now mostly equity-funded.

— 1 earlier story on JD Cables Ltd. →

JDL By Tipsheet Editorial 30 May 2026 · 2:36 PM IST Verify on BSE · NSE

Mkt cap₹464 cr

P/E14.63×

ROE73.45%

Debt / eq.1.53

0.39x Debt-to-equity ratio, down from 1.53x.

What's new

Full-year revenue rose 46% to ₹365.19 crore; net profit grew 44% to ₹31.72 crore.
Second-half revenue surged 70% to ₹243.75 crore, with net profit up 69%.
Order book is ₹515 crore; current ratio improved to 2.25x.

Why this matters

JD Cables nearly halved its debt-to-equity in a single year while growing profit by 44%. The combination of fast top-line growth and a clean-up of the balance sheet removes the financial friction that would otherwise cap a micro-cap's ability to chase the large infrastructure orders it now holds.

What we're watching

Whether the ₹515 crore order book sustains growth into H1 FY27.
If the company uses its new financial headroom for capacity expansion.
The sustainability of the 70% H2 revenue acceleration.

The full read

JD Cables is growing fast. Full-year revenue hit ₹365.19 crore on 46% growth, while net profit climbed 44% to ₹31.72 crore. The second half drove the acceleration: ₹243.75 crore in revenue, up 70%, with net profit up 69% to ₹19.79 crore. But the balance sheet changed more dramatically. Debt-to-equity fell from 1.53x to 0.39x, and the current ratio strengthened to 2.25x. JD Cables is now operating with minimal borrowings while sitting on a ₹515 crore order book. That's rare. The growth-and-deleveraging combination is hard to find for a micro-cap in a capital-intensive industry. It gives the company financial room to invest in capacity without issuing equity. The open question is whether it will.

Questions answered

How much did JD Cables' debt load change?: The debt-to-equity ratio fell from 1.53x to 0.39x, a reduction of roughly three-quarters in a single fiscal year.
What drove the second-half acceleration?: H2 revenue surged 70% to ₹243.75 crore, accounting for about two-thirds of the full-year total. The ₹515 crore order book suggests strong execution on existing contracts.
What does the order book mean for future earnings?: The ₹515 crore order book represents roughly 1.4x full-year revenue. This provides visibility on near-term earnings, though conversion rates are not disclosed.
Is the current ratio improvement meaningful?: A current ratio of 2.25x means the company has ₹2.25 in current assets for every ₹1 of short-term liabilities. This removes near-term liquidity risk for a fast-growing manufacturer.

Mentioned: JD Cables Ltd. · ₹515 crore order book · 0.39x debt-to-equity

Primary source BSE · NSE

An independent reading of the company's own disclosure — the primary filing above is the final word.

Story so far

All notes on JDL →

30 May 2026 · 2:36 PM IST JD Cables cuts debt to 0.39x after a 46% revenue jump
today JD Cables' H2 FY26 call transcript is a compliance step, not news.