V-MARC India’s Q1 FY27 revenue more than doubled, marking its strongest quarter as demand from building wires, industrial cables, and exports surged, supported by an expanding dealer network and new product launches.
V-MARC India said its first quarter of fiscal 2027 was the strongest in its history, as higher volumes across its business lines pushed revenue and profit sharply higher. The Haridwar-based wires and cables maker reported consolidated revenue from operations of 555.5 crore rupees for the three months to 30 June, more than double the 274.4 crore rupees posted a year earlier. EBITDA rose 95.3% to 59.4 crore rupees, while profit after tax climbed 163.3% to 28.5 crore rupees, according to the company’s results announcement.
The company said building wires and industrial cables drove much of the growth, with that segment rising 256.5% to 246.6 crore rupees and accounting for 44.4% of revenue. High-tension cables grew 70.2% to 236.8 crore rupees, while low-tension cables increased 9% to 72.1 crore rupees. V-MARC also said its export business generated 62.8 crore rupees in the quarter, more than the 62.6 crore rupees it recorded for all of fiscal 2026, its first full year of exports.
According to V-MARC, growth was broad-based across channels. Dealer-led retail revenue nearly doubled, EPC and OEM sales rose 91.3%, and government and utility business also expanded, although its share of revenue fell as the mix shifted towards non-government customers. The company said its dealer network now spans more than 1,200 partners across 25 states and union territories, supported by more than 150 turnkey EPC relationships. It also said the second electron-beam line is operational and that it has launched what it describes as India’s first e-beam submersible cable for agricultural use.
Margins held up despite cost pressure. V-MARC said gross margin narrowed as it passed through input costs and reflected a different product mix, but operating leverage helped keep EBITDA margin close to last year’s level at 10.7%. Finance costs rose more slowly than revenue, and the effective tax rate eased, lifting profit growth ahead of sales growth. The company reaffirmed its full-year fiscal 2027 revenue growth target of more than 40% and its EBITDA margin goal of 11% to 12% plus, while also outlining capital spending of more than 500 crore rupees through fiscal 2030 to lift installed capacity beyond 10 lakh circuit kilometres.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
