Recent Price Movement and Market Context
On 4 December 2025, Relicab Cable Manufacturing’s share price touched Rs.39.35, the lowest level recorded in the past year. This decline follows four consecutive days of losses, during which the stock has delivered a cumulative return of approximately -13.6%. The stock’s performance today underperformed its sector by 1.62%, reflecting a broader weakness relative to peers in the Other Electrical Equipment industry.
In contrast, the Sensex index demonstrated resilience, recovering from an initial drop of 119.25 points to close 0.12% higher at 85,206.55. The benchmark index remains close to its 52-week high of 86,159.02, trading above its 50-day and 200-day moving averages, supported by gains in mega-cap stocks. This divergence underscores the challenges faced by Relicab Cable Manufacturing amid a generally positive market environment.
Technical Indicators Signal Continued Downtrend
Technical analysis reveals that Relicab Cable Manufacturing is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This positioning indicates sustained downward momentum and suggests that the stock has yet to find a stable support level. The 52-week high for the stock stands at Rs.112.75, highlighting the extent of the decline over the past year.
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Long-Term Performance and Financial Metrics
Over the past year, Relicab Cable Manufacturing has recorded a return of -58.65%, a stark contrast to the Sensex’s 5.25% gain during the same period. This underperformance extends beyond the last twelve months, with the stock also trailing the BSE500 index over one-year, three-year, and three-month horizons.
Financially, the company’s operating profits have shown a compound annual growth rate (CAGR) of 13.52% over the last five years. However, the ability to service debt remains constrained, as reflected by an average EBIT to interest ratio of 1.47. This ratio indicates limited coverage of interest expenses by earnings before interest and tax, which may contribute to investor caution.
Another notable factor is the high level of promoter share pledging, with 99.94% of promoter shares pledged. In declining markets, such a high proportion of pledged shares can exert additional downward pressure on the stock price, as forced selling or margin calls may occur.
Recent Quarterly Results and Valuation Metrics
Despite the stock’s subdued price action, Relicab Cable Manufacturing reported positive quarterly sales figures in September 2025. Net sales for the quarter stood at Rs.13.65 crore, representing a growth rate of 22.75%. This indicates some operational traction in revenue generation during the recent period.
The company’s return on capital employed (ROCE) is recorded at 14.9%, which is considered attractive within its sector. Additionally, the enterprise value to capital employed ratio is 2.1, suggesting a valuation discount relative to historical averages of peer companies. Nevertheless, profits have declined by 37.7% over the past year, reflecting pressures on the bottom line despite sales growth.
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Sector and Industry Considerations
Relicab Cable Manufacturing operates within the Other Electrical Equipment sector, a segment that has experienced mixed performance in recent months. While the broader market, including the Sensex, has shown signs of strength, the company’s stock has not mirrored this trend. This divergence may be influenced by company-specific factors such as financial leverage, share pledging, and profit contraction.
Comparatively, the stock’s valuation metrics suggest it is trading at a discount to peers, which may reflect market caution given the company’s recent returns and financial ratios. The gap between the stock’s current price and its 52-week high of Rs.112.75 further illustrates the extent of market reappraisal over the past year.
Summary of Key Data Points
To summarise, Relicab Cable Manufacturing’s stock has reached Rs.39.35, its lowest level in 52 weeks, following a four-day losing streak and a year-to-date return of -58.65%. The stock trades below all major moving averages, signalling persistent downward momentum. Despite a 22.75% growth in quarterly net sales and a ROCE of 14.9%, profits have declined by 37.7% over the last year. The company’s debt servicing capacity remains limited, with an EBIT to interest ratio of 1.47, and promoter share pledging stands at nearly 100%, factors that may weigh on market sentiment.
While the broader market and sector indices have shown resilience, Relicab Cable Manufacturing’s share price performance highlights ongoing challenges in aligning with these trends. Investors and market watchers will continue to monitor the stock’s price action and financial disclosures for further developments.
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