Ant group, Company

Dynamic Cables Limited (DCL), a Jaipur based power cable manufacturer announced its result for Q2FY23. Company reported a sale of Rs 173.4 crs, a healthy growth of 30% yoy. In the quarter gone by Company received major breakthrough in its MVCC product and upgradation in RDSO vendor category which will play important role in driving growth of the company. The profits of the company were flat sequentially at Rs.7.2 crs despite a challenging environment due to high volatility in key raw material prices and step-up investment in product development. The management has guided bottoming of operating margins and improvement in profitability going forward.Company also announced appointment of industry veteran Mr. Bharat Moossaddee as an Independent Director. He is Chartered Accountant, MBA from IIM Ahmedabad and has done Leadership Program from Thunderbird University, USA. He has a well-rounded experience of 35+ years in Business Strategy, Consulting, Corporate Law, Finance, General Management, Investment Banking, Legal, Management, Portfolio /Asset Management, Taxation, Venture Capital. He worked with Mahindra group for 9 years till 2021 handling CFO & CIO/Digital role and also running several start-ups of Mahindra group from incubation, fund raising and taking them up to stable state operations. Prior to that, he worked with CK Birla, General Motors, Hindustan Zinc, Shell India and Sun Gumberg at various senior positions during his career. During his illustrious career, he served on the Board of 25+ companies and also held position in Audit, CSR, NRC Committees of various companies.Ashish Mangal, Managing Director, Dynamic Cables said, "We welcome Mr. Bharat Moossaddee a seasoned professional on our board as an Independent Director and I am confident that his rich experience, knowledge and proficiency will prove to be an invaluable asset to the Company as it embarks upon the next phase of sustainable profitable growth."Dynamic Cables Ltd. is manufacturer of power infra cables that includes LT, HT, EHVC, Power control & instrumentation cables, flexible & industrial cables, solar cables and railway signaling cables. It supplies cables to Government Discoms, Private Distribution companies, Private EPC contractors, industrial and Export clients. Company has 3 manufacturing plants are situated at Jaipur and Reengus. Business operations are managed through corporate office in Jaipur and 5 regional sales offices across India.This story has been provided by PNN.will not be responsible in any way for the content in this article. (ANI/PNN)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Ant GroupFOLLOW

Ant group, Latest News

Leading steelmaker Jindal Steel & Power has been awarded with the prestigious Golden Peacock Award 2022 for its excellence in Corporate Social Responsibility activities in the Steel Sector. On behalf of the Company, JSP's President and Group Head (CS ...

Chinese magnate Jack Ma will no longer be the controlling person of Ant Group, the Wall Street Journal reported ... ...

Beijing, Jan 7 Billionaire Jack Ma has relinquished control of Ant Group in a bid to restructure China's ... ...

Refer Now & Earn Forever being its key feature Shareholders needs to be atleast 15 days old members of ... ...

India has significant penetration gap in insurance cover across all sections of society. ...

ThoughtFocus, Inc. ('ThoughtFocus' or the 'Company'), a global provider of digital services and technology enabled digital operations for the financial services, manufacturing, and higher education sectors, is pleased to announce that H.I.G. Capital ...

Mr. Bharat Moossaddee Appoints industry veteran Mr.Bharat Moossaddee as Independent Director Q2 Revenue up 30% YOY Major breakthrough in ... ...

Dynamic Cables Limited (DCL), a Jaipur based power cable manufacturer announced its result for Q2FY23. Company reported a sale of Rs 173.4 crs, a healthy growth of 30% yoy. In the quarter gone by Company received major breakthrough in its MVCC produc ...