This Wires and Cables Stock Rises 381% in 1 Year: Can Growth Keep Pace?
- September 11, 2026
- Posted by: Harsh Piplani
- Category: Best Stocks
V-Marc India: 1Y return approx 381% (bonus-adjusted). Close Rs 349.10 (10 Sep 2026). Mcap approx Rs 5,115 Cr. FY26 revenue approx Rs 1,797 Cr, PAT up 177%.
Quick Answer
V-Marc India Ltd has returned approximately 381% in one year on a bonus-adjusted basis, rising from about Rs 72.53 on 10 September 2025 to Rs 349.10 on 10 September 2026. The rise came as FY26 revenue doubled to about Rs 1,797 crore and profit rose about 177%, followed by a 102% revenue jump in Q1 FY27. A 5:1 bonus issue, a Rs 500 crore capacity plan and planned main board migration added momentum, while a high promoter pledge and thin liquidity remain key risks.
This wires and cables stock has risen approximately 381% in one year, turning a Rs 1 lakh investment into close to Rs 4.8 lakh. It was among the top 31 performers on a screen of 195 NSE small-cap stocks dated 11 September 2026, and the rally has come with a doubling of revenue and a near tripling of profit.
The company is V-Marc India Ltd (NSE: VMARCIND), a Haridwar-based maker of power cables, building wires and industrial cables. The V-Marc India share price closed at Rs 349.10 on 10 September 2026, giving the company a market value of approximately Rs 5,115 crore. The stock still trades on the NSE SME platform, and its board approved a move to the main boards of NSE and BSE on 26 August 2026, subject to shareholder and exchange approvals.
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How Much Has This Wires and Cables Stock Returned in 1 Year?
The wires and cables stock has returned approximately 381.30% over one year, based on the bonus-adjusted close of about Rs 72.53 on 10 September 2025 and Rs 349.10 on 10 September 2026. Few small caps have matched that pace.
| Metric | Value |
|---|---|
| 1-Year Return | 381.30% |
| Close on 10 Sep 2025 (bonus-adjusted) | Rs 72.53 |
| Close on 10 Sep 2026 | Rs 349.10 |
| 52-Week Low (bonus-adjusted) | Rs 70 |
| 52-Week High (24 Aug 2026) | Rs 406 |
| Market Cap | Approximately Rs 5,115 crore |
The company issued five new shares for every share held, with a record date of 7 July 2026, taking the share count from about 2.44 crore to about 14.65 crore. For this wires and cables stock, the pre-bonus price of around Rs 1,182 in May 2026 works out to roughly Rs 197 on today’s share base.
The 381% figure and the 52-week range are bonus-adjusted, so the gain reflects real price movement rather than the change in share count. On 11 September, the V-Marc India share price traded around Rs 352 in early afternoon, up nearly 1% on the day and about 13% below its 52-week high.
Why Did This Wires and Cables Stock Rise So Sharply?
This wires and cables stock rose because revenue doubled in FY26 and again in Q1 FY27, profit grew even faster, and the company set out a plan to expand capacity roughly five times by FY30. The bonus issue, fresh government orders and the planned main board listing added to the momentum.
1. Revenue Doubled in FY26
Revenue for FY26 came in at approximately Rs 1,797 crore, up about 99% from around Rs 905 crore in FY25. EBITDA more than doubled to about Rs 201 crore, and net profit rose about 177% to around Rs 100 crore. For a wires and cables stock of this size, that pace of growth is rare.
The second half of FY26 did most of the work. Revenue for October to March was about Rs 1,106 crore, up roughly 98% year on year, and the March 2026 quarter alone brought in approximately Rs 667 crore.
2. Q1 FY27 Kept the Momentum Going
Revenue rose about 102% to approximately Rs 556 crore, EBITDA rose about 95% and profit after tax climbed about 163% to around Rs 28.5 crore. Management of the wires and cables stock kept its FY27 guidance of more than 40% revenue growth with an EBITDA margin of 11% to 12%.
3. Building Wires and Exports Are Growing Fast
The mix at this wires and cables stock is shifting toward products sold to builders, dealers and industry. Building wires and industrial cables brought in approximately Rs 247 crore in Q1 FY27, up about 256%, and made up around 44% of revenue. High tension cables grew about 70% to around Rs 237 crore, while low tension cables grew a slower 9%.
Exports at the wires and cables stock reached approximately Rs 63 crore in the quarter, about 11% of revenue and already equal to the whole of FY26. The company plans to attend 6 to 10 overseas trade shows in FY27, targeting Europe, the US and the Middle East.
4. A Plan to Expand Capacity Five Times
Installed capacity is about 2.13 lakh circuit kilometres. The company plans to invest approximately Rs 500 crore between FY27 and FY30 to take this above 10 lakh circuit kilometres, funded mainly from internal cash flow. Investors in this wires and cables stock have treated the capex plan as a sign of confidence in future demand.
5. Bonus Issue, Orders and Main Board Plans
The bonus announcement on 11 May 2026 lifted the wires and cables stock about 11% in a single session, alongside the FY26 results. In August 2026, the company received three letters of intent worth approximately Rs 100.74 crore from a state power distribution company in Uttar Pradesh for HT XLPE cables, due for delivery by January 2027.
The board then approved migration from the SME platform to the main board of NSE and a direct listing on BSE. A move to the main board could widen the investor base for this wires and cables stock, though it is not yet complete. The annual general meeting is scheduled for 25 September 2026.
6. Power and Housing Demand Supports the Sector
Spending on power distribution, renewable energy, data centres and housing has lifted demand for cables across India. Government utilities made up about 34% of Q1 FY27 revenue, EPC and OEM buyers about 41% and dealer retail about 14%. Each wires and cables stock in the listed space has benefited from these trends, but few have grown sales as quickly.
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V-Marc India Financials: Is Profit Keeping Pace With Sales?
Yes. Profit at this wires and cables stock has grown faster than revenue, although margins at the operating level have eased slightly.
| Quarter | Revenue (Rs Cr) | EBITDA (Rs Cr) | Net Profit (Rs Cr) | Operating Margin |
|---|---|---|---|---|
| Jun 2025 (Q1 FY26) | 274.85 | 30.86 | 10.83 | 11.24% |
| Mar 2026 (Q4 FY26) | 667.37 | 79.92 | 43.51 | 11.98% |
| Jun 2026 (Q1 FY27) | 556.63 | 60.56 | 28.52 | 10.90% |
Net profit margin improved to about 5.1% in Q1 FY27 from about 3.9% a year earlier, as employee and other costs grew at half the pace of sales. Gross margin, however, slipped about 350 basis points to roughly 19.6% because of higher raw material costs, and finance costs rose about 55% to around Rs 15.9 crore.
| Year | Revenue (Rs Cr) | Net Profit (Rs Cr) |
|---|---|---|
| FY24 | Approximately 560 | Approximately 27 |
| FY25 | Approximately 905 | Approximately 36 |
| FY26 | Approximately 1,797 | Approximately 100 |
Revenue at the wires and cables stock has grown more than three times in two years. Operating cash flow improved to about Rs 116 crore in FY26 from about Rs 23 crore in FY25, which matters for a wires and cables stock that ties up cash in copper, aluminium and receivables. Debtor days stood at about 85 in FY26.
Valuation and Shareholding of This Wires and Cables Stock
After the rally, this wires and cables stock trades at a trailing PE of approximately 43.4, below the industry PE of around 50.4. Its price-to-book ratio of about 17.7 is high, reflecting a return on equity of around 34%.
| Metric | V-Marc India | Comment |
|---|---|---|
| PE (TTM) | 43.42 | Industry PE approximately 50.36 |
| Price to Book | 17.67 | Book value approximately Rs 19.76 per share |
| ROE | 34.13% | FY26 ROCE approximately 35% |
| Debt to Equity | 0.74 | Borrowing limit proposed at Rs 800 crore |
| Promoter Holding | 64.87% | About 43% of it pledged (Jun 2026) |
| FII Holding | 0.25% | Mutual funds hold nil |
| Public Holding | 34.86% | Around 3,400 shareholders |
In this wires and cables stock, promoters Vikas Garg and Meenakshi Garg together hold about 64.87%, a level that has stayed steady. Institutional ownership is very thin, with FIIs at about 0.25% and no mutual fund holding, while a well-known individual investor holds about 2.7%. Main board migration could open the door for more institutional buyers of this wires and cables stock, but that is not certain.
Key Risks for This Wires and Cables Stock
The biggest risks for this wires and cables stock are low liquidity, a large promoter pledge and a valuation that already assumes fast growth continues. Small caps can fall sharply on small amounts of selling, and this wires and cables stock is no exception.
Liquidity and Volatility Risk
This wires and cables stock trades on the SME platform, where trading happens in fixed lots and daily volumes are thin, with around 1.6 lakh shares changing hands by midday on 11 September. Wide swings are common; the V-Marc India share price has ranged from Rs 70 to Rs 406 in a year. Exiting a large position quickly may be difficult.
Promoter Pledge
About 43% of promoter shares were pledged as of June 2026. If the price of the wires and cables stock falls sharply, lenders could sell pledged shares, adding to the downside.
Working Capital and Debt
Debt to equity is about 0.74 and finance costs are rising. The board has sought to raise borrowing limits from Rs 600 crore to Rs 800 crore. For a wires and cables stock, heavy capex plus long receivable cycles from government utilities could stretch the balance sheet if growth slows.
Raw Material and Margin Pressure
Copper and aluminium prices drive cable costs. Gross margin already fell in Q1 FY27, and a wires and cables stock with thinner margins than its large peers has less room to absorb price swings.
Execution and Migration Risk
Growth for this wires and cables stock depends on new capacity coming online on time and on orders converting into revenue. The recent Rs 100.74 crore award is a letter of intent, not a final work order. Main board migration still needs shareholder and exchange approval, and a delay could weigh on sentiment.
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V-Marc India Share: Analyst View
There is no broad research coverage of this wires and cables stock, which is common for companies on the SME platform. The positive case rests on doubling revenue, a return on equity above 30%, a PE below the industry average and a clear five-year capacity plan. The cautious case points to the pledge, thin institutional holding and the risk that any slowdown hits a stock that has already risen nearly 4.8 times.
For the V-Marc India share price, a sustained move above the 52-week high of Rs 406 would signal renewed momentum, while a break below the Rs 300 level would suggest the wires and cables stock is cooling. The next major trigger is the 25 September AGM and progress on migration.
V-Marc India Share Price Target
No verified brokerage V-Marc India share price target is available as of 11 September 2026. Without a published V-Marc India share price target, investors are relying on management guidance of 40% plus revenue growth and 11% to 12% EBITDA margins for FY27.
If the company delivers on that guidance, earnings could support the current V-Marc India share price. If growth or margins fall short, the wires and cables stock could see a sharp correction from today’s levels.
Other Stocks to Track From the Same Return Screen
Beyond this wires and cables stock, a screen of 195 small-cap NSE stocks dated 11 September 2026 also includes related names such as Raghav Productivity with a 1-year return of 159.08%, Precision Wires at 158.99% and Diamond Power at 137.76%.
Among the names covered from that screen, MTAR Technologies returned 396.53% over one year. Readers can compare this wires and cables stock with the Nifty 50 benchmark and track each of these names on Univest before making any decision.
Conclusion
This wires and cables stock has delivered one of the strongest 1-year returns among small caps, backed by doubled revenue, tripled profit and a large expansion plan. The V-Marc India share price now reflects much of that progress.
For the wires and cables stock, the key things to watch are Q2 FY27 results, completion of main board migration, the promoter pledge and cash flow as capex rises. Anyone considering this wires and cables stock should size positions carefully given the liquidity and volatility risks, and consult a SEBI-registered advisor.
Disclaimer: Data and figures in this article are sourced from publicly available information and may or may not be accurate. Please verify all data independently before making any investment decision. Past returns do not guarantee future returns. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
Which wires and cables stock rose 381% in 1 year?
Ans. V-Marc India Ltd (NSE: VMARCIND) is the wires and cables stock that returned approximately 381.30% between 10 September 2025 and 10 September 2026, on a bonus-adjusted basis. It was among the top 31 performers on a screen of 195 NSE small-cap stocks dated 11 September 2026.
Why did V-Marc India shares rise so much?
Ans. The V-Marc India share price rose because revenue roughly doubled in FY26 and again in Q1 FY27 while profit grew even faster. A 5:1 bonus issue, new government orders, a Rs 500 crore capex plan and planned main board migration added momentum.
Is the 381% return adjusted for the bonus issue?
Ans. Yes. The company issued five bonus shares for every share held with a record date of 7 July 2026, and the 1-year return and the 52-week range of Rs 70 to Rs 406 are bonus-adjusted.
Has V-Marc India migrated to the main board?
Ans. Not yet. The board approved migration from the NSE SME platform to the NSE main board and a direct listing on BSE on 26 August 2026, and the move still needs shareholder and exchange approvals.
What were V-Marc India Q1 FY27 results?
Ans. Revenue rose about 102% to approximately Rs 556 crore and net profit rose about 163% to around Rs 28.5 crore. The EBITDA margin was about 10.7%, slightly lower than a year earlier.
What is the V-Marc India share price target?
Ans. No verified brokerage V-Marc India share price target is available. Investors are tracking FY27 guidance of more than 40% revenue growth and 11% to 12% EBITDA margins instead.
What are the main risks in V-Marc India shares?
Ans. Key risks for this wires and cables stock are thin liquidity on the SME platform, about 43% of promoter shares being pledged, rising debt and finance costs, and raw material price swings. The stock is also highly volatile.
Is V-Marc India overvalued after the rally?
Ans. The trailing PE of approximately 43 is below the industry PE of about 50, but the price-to-book ratio of about 17.7 is high. The valuation assumes fast growth continues, so any slowdown could hurt the share price.
