As utilities and the government resume capex, Fast Cables rebounds

After a bruising fiscal year in which revenues and earnings slid, Fast Cables Ltd has opened FY26 on a firmer footing. The Lahore‑based wire, cable and conductors manufacturer reported a strong first‑quarter bounce in sales and profits, a print management links to early signs of revived procurement by utilities and the government, and to a pipeline of private‑sector projects long delayed by high inflation and tight budgets.

The company’s analyst briefing in early November offered a striking contrast: a difficult FY25 now in the rear‑view mirror and a first quarter that suggests demand is finally moving again. The tone was cautiously optimistic – emphasis on “cautiously” – but with a clear message that capital expenditure across the public and private sectors is the key variable for the rest of the year.

Fast Cables’ 1QFY26 numbers point to a turn in operating momentum. Net sales rose to Rs8.6 billion, up 20% year‑on‑year from Rs7.2 billion in 1QFY25. Gross margin improved to 17% from 15%, lifting gross profit by 39% to Rs1.5 billion. Operating profit surged 70% to Rs1.0 billion, and profit after tax climbed 87% to Rs388 m. Quarterly earnings per share were Rs0.6, versus Rs0.3 a year earlier. Finance costs eased 26%, helping the bottom line even as the company stepped up activity.