Delton Cables Rises After Securing ₹178 Crore Supply Order

Delton Cables' stock rose by 2.58% to ₹410.20 after the company announced receiving a ₹177.83 crore order from top EPC companies under the Revamped Distribution Sector Scheme (RDSS) for the supply of power cables. This domestic contract is set to be executed over a two-year period.

The contract's value is approximately 50.2% of Delton's current market capitalization, which stands at ₹354.24 crore. Delton Cables manufactures a range of products, including wires and cables, power cables, radio high-frequency cables, PVC compounds, and switch gears, selling them under its brand name 'DELTON.'

In the quarter ending March 2024, Delton Cables reported a net profit of ₹6.31 crore, a significant turnaround from the net loss of ₹4.33 crore in the same quarter of the previous year. Sales surged by 63.70% to ₹131.78 crore in Q4 FY24 compared to Q4 FY23.

BS