Uncable manufactures power cables across LV, MV, HV and EHV

Strengths Strong positioning in EHV, HV and MV power cables, where technical approvals and execution capabilities create entry barriers. Q1 FY27 revenue rose 57.5% YoY to ₹945.06 Cr. Standalone EBITDA increased to ₹94.57 Cr, with margin at approximately 10.01%. Export revenue jumped approximately 187% YoY to ₹120.01 Cr, contributing 12.7% of revenue. Strong order visibility: pending order book was approximately ₹2,860 Cr as of July 1, 2026, including ₹485 Cr of export orders. Weaknesses Cable manufacturing is sensitive to copper, aluminium and other raw-material prices. Working-capital requirements can be high because of large project orders. Finance costs increased materially in Q1 FY27, reflecting higher funding requirements. Opportunities India's expanding power transmission & distribution infrastructure. Renewable-energy integration and grid modernisation should increase demand for HV/EHV cables. Rising electricity consumption from data centres, EV charging, metro rail and industrial projects. Export expansion provides an additional growth avenue. Higher EHV capacity can improve product mix and margins. Company is increasing its capacity-expansion programme from ₹550 Cr to approximately ₹617 Cr. The company is also modernising its Satna EHV facility with planned investment of approximately ₹74 Cr. Threats Competition from Polycab, KEI, RR Kabel, Finolex and other cable manufacturers. Raw-material price volatility can pressure margins if pass-through is delayed. Infrastructure/project execution delays. Commodity-price and currency volatility in export markets. Higher competitive intensity following new capacity additions in the cable industry; recent industry reporting notes Universal's EHV focus as a relative differentiator. Large capex programmes create execution and return-on-capital risks. Q1 FY27 Financial Snapshot