Finolex Cables Ltd

FINCABLES

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Market Cap

₹ 11,597 Cr

P/E

17.46

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Investment Checklist

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Performance

UNDER PERFORMER

Valuation

REASONABLE

Growth

SLUGGISH

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

LOW RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Finolex Cables Limited is India's leading manufacturer of electrical and telecommunication cables, with expanding product lines in fast-moving electrical goods (FMEG).

The company reported a growth of 5% in revenue for Q2 of FY '26 and 9% for the first half, despite modest growth compared to competitors.

Significant capacity expansion is underway with a focus on preform and fiber draw plants, indicating strategic emphasis on scaling production capabilities.

The company faces challenges in the communication cable segment due to muted BharatNet contributions and low fiber prices, impacting revenue and margins.

Finolex Cables is actively enhancing its FMEG segment with ongoing product development and branding efforts, aiming for a broader market presence.

Sector

Cables

Industry

Cables - Power - Large

Market Cap

11,597 Cr

Volatility

High Risk

P/E Ratio

17.5

Industry P/E

40.9

PEG Ratio

2.0

P/B Ratio

2.0

52W High

1,294.90

52W Low

708.00

Sales CAGR

6.07%

12.18%

13.08%

10Y

8.40%

Profit CAGR

7.53%

10.40%

6.23%

10Y

9.09%

ROE

TTM

11.65%

12.93%

12.31%

10Y

13.45%

ROCE

TTM

15.10%

16.59%

15.93%

10Y

17.75%

Technicals

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Forecasts

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Price, EPS and Revenue Projections

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
RRKABEL	1456.00	16,470 Cr	40.79	7.04	0.41	17.25	22.02	10.98
FINCABLES	758.00	11,597 Cr	17.46	2.03	1.06	11.65	15.10	9.98
DIACABS	142.10	7,470 Cr	121.15	0.00	0.00	-8.65	4.57	3.02
UNIVCABLES	891.55	3,104 Cr	21.24	1.66	0.45	7.81	10.28	3.72
DYCL	335.20	1,634 Cr	21.16	3.98	0.07	18.82	23.32	12.72
VMARCIND	668.55	1,633 Cr	45.33	8.62	0.00	27.08	25.29	7.55
PARACABLES	37.20	1,132 Cr	15.51	1.51	0.00	9.75	13.53	7.25

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	1,204	1,187	1,222	1,401	1,230	1,312	1,182	1,595	1,396	1,376
Expenses	1,058	1,041	1,088	1,239	1,104	1,206	1,044	1,424	1,259	1,231
Operating Profit	147	146	134	162	127	106	138	171	136	145
OPM %	12.17	12.30	10.94	11.56	10.31	8.07	11.65	10.71	9.77	10.55
Other Income	74	72	75	100	202	57	67	104	80	76
Interest	0.29	0.44	0.42	0.88	0.40	0.38	0.39	0.50	0.42	0.44
Depreciation	11	11	11	12	11	12	12	12	14	14
Profit Before Tax	210	206	198	250	318	151	193	261	203	206
Tax %	23.61	25.32	23.65	25.43	23.24	21.76	23.53	26.68	19.71	21.13
Net Profit	160	154	151	186	244	118	147	192	163	163
EPS in Rs	10.49	10.08	9.87	12.17	15.95	7.71	9.63	12.53	10.63	10.63

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	2,445	2,884	3,078	2,877	2,768	3,768	4,481	5,014	5,319	5,484
Expenses	2,049	2,374	2,608	2,494	2,398	3,340	3,972	4,426	4,778	4,933
Operating Profit	396	510	470	383	370	428	509	588	541	551
OPM %	16.19	17.68	15.26	13.33	13.37	11.37	11.37	11.73	10.18	10.04
Other Income	160	154	182	169	300	399	188	321	429	308
Interest	4.29	1.44	0.92	1.55	0.76	1.52	1.24	2.03	1.67	1.69
Depreciation	48	44	41	39	39	39	46	44	47	50
Profit Before Tax	504	549	610	512	631	787	649	864	922	807
Tax %	20.54	39.89	33.23	23.64	26.85	23.83	22.35	24.55	24.03	23.26
Net Profit	400	330	407	391	461	599	504	652	701	619
EPS in Rs	—	—	26.58	25.57	30.17	39.18	32.97	42.61	45.82	43.42
Dividend Payout %	11.45	18.54	16.89	21.51	18.23	15.31	21.23	18.77	17.46	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	31	31	31	31	31	31	31	31	31	31
Reserves	1,745	2,110	2,398	2,706	2,973	3,384	3,891	4,340	4,915	5,465
Borrowings	26	0.38	0.55	0.38	7.90	6.70	8.79	14	18	20
Other Liabilities	297	288	354	417	395	464	563	596	671	771
Total Liabilities	2,099	2,429	2,784	3,154	3,407	3,886	4,494	4,980	5,635	6,287
Fixed Assets	432	415	409	404	387	394	380	435	445	583
CWIP	3.14	8.15	5.20	10	27	26	87	21	168	210
Investments	881	1,159	1,523	1,767	1,121	1,571	2,014	2,610	3,584	3,986
Other Assets	783	847	847	973	1,872	1,894	2,013	1,915	1,439	1,507
Total Assets	2,099	2,429	2,784	3,154	3,407	3,886	4,494	4,980	5,635	6,287

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	339	352	236	154	309	114	473	356	577	207
Cash from Investing Activity	-195	-300	-134	-110	587	-859	-378	-225	-440	-82
Cash from Financing Activity	-64	-70	-57	-75	-86	-86	-87	-97	-112	-128
Net Cash Flow	81	-18	44	-30	810	-831	7.79	35	26	-2.95

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	35.92%	35.92%	35.92%	35.92%	35.92%	35.92%	35.86%	35.86%	35.86%	35.86%	35.86%	35.86%
FIIs	10.20%	8.89%	11.26%	11.77%	11.07%	11.58%	11.65%	11.32%	11.00%	10.57%	2.19%	9.90%
DIIs	18.11%	18.93%	15.56%	15.59%	15.93%	15.88%	16.84%	16.74%	16.24%	16.07%	24.05%	15.88%
Public	35.77%	36.27%	37.26%	36.73%	37.09%	36.63%	35.65%	36.09%	36.90%	37.50%	37.91%	38.36%
Total Shareholders	94,652	1,00,123	1,25,344	1,28,513	1,25,351	1,28,440	1,12,071	1,24,788	1,37,311	1,57,533	1,59,021	1,76,353

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Mar 04, 2023	Janak deepak chhabria	Insider - Promoters Immediate Relative	Acquisition	—	—	3,13,400	—
Mar 04, 2023	Sunita kishandas chhabria	Insider - Promoter Group	Disposal	—	—	3,13,400	0.20

Projection

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Announcements

Last 7 days

Newest

Sentiment

Analyst/Investor Meet

2 hours ago

Analyst/Investor Meeting Scheduled

Intimation regarding the schedule for an Analyst/Institutional Investors Meeting on December 19, 2025, in Pune.

Disclosure Announcement

3 days ago

Corporate Guarantee Disclosure

Finolex Cables Limited has disclosed the provision of a corporate guarantee in favor of ICICI Bank for working capital facilities to its joint venture, Finolex J Power Systems Limited.

Resignation Notification

3 days ago

Cessation of Compliance Officer Announcement

Mrs. Gayatri Kulkarni has resigned from her position as Compliance Officer of Finolex Cables, effective December 12, 2025, due to personal reasons.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q4 FY24

Investor Presentation

Q3 FY24

Investor Presentation

Q2 FY24

Investor Presentation

Q1 FY24

Showing 1 - 8 of 21

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Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
RRKABEL	1456.00	16,470 Cr	40.79	7.04	0.41	17.25	22.02	10.98
FINCABLES	758.00	11,597 Cr	17.46	2.03	1.06	11.65	15.10	9.98
DIACABS	142.10	7,470 Cr	121.15	0.00	0.00	-8.65	4.57	3.02
UNIVCABLES	891.55	3,104 Cr	21.24	1.66	0.45	7.81	10.28	3.72
DYCL	335.20	1,634 Cr	21.16	3.98	0.07	18.82	23.32	12.72
VMARCIND	668.55	1,633 Cr	45.33	8.62	0.00	27.08	25.29	7.55
PARACABLES	37.20	1,132 Cr	15.51	1.51	0.00	9.75	13.53	7.25

Overview

Detailed Summary

Finolex Cables Limited is India's leading manufacturer of electrical and telecommunication cables, with expanding product lines in fast-moving electrical goods (FMEG).

The company reported a growth of 5% in revenue for Q2 of FY '26 and 9% for the first half, despite modest growth compared to competitors.

Significant capacity expansion is underway with a focus on preform and fiber draw plants, indicating strategic emphasis on scaling production capabilities.

The company faces challenges in the communication cable segment due to muted BharatNet contributions and low fiber prices, impacting revenue and margins.

Finolex Cables is actively enhancing its FMEG segment with ongoing product development and branding efforts, aiming for a broader market presence.

Sector

Cables

Industry

Cables - Power - Large

Market Cap

11,597 Cr

Volatility

High Risk

P/E Ratio

17.5

Industry P/E

40.9

PEG Ratio

2.0

P/B Ratio

2.0

52W High

1,294.90

52W Low

708.00

Sales CAGR

6.07%

12.18%

13.08%

10Y

8.40%

Profit CAGR

7.53%

10.40%

6.23%

10Y

9.09%

ROE

TTM

11.65%

12.93%

12.31%

10Y

13.45%

ROCE

TTM

15.10%

16.59%

15.93%

10Y

17.75%