Finolex Cables Ltd.

•

finolex.comBSE: 500144NSE: FINCABLES

Market Cap₹ 21,767 Cr.

Current Price

High / Low₹ 1,498 / 701

Stock P/E27.2

Book Value₹ 412

Price to Book1.95

Dividend Yield0.63 %

ROCE16.1 %

ROE12.3 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Electrical Cables: 65.4% • Copper Rod: 25.5% • Communication Cables: 6.0%

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Company is almost debt free
Company has consistently been profitable over the last 5 years
Latest quarter profit grew 53.1% YoY, showing strong momentum
Company has delivered good sales growth of 18.0% CAGR over last 5 years
Company comfortably covers its interest (531.6x coverage)
Working capital cycle has improved - days down from 235 to 180

CONS

Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.40x)
Operating margins have contracted to 9.8% from 14.0%
Company has delivered a poor profit growth of 9.1% over past five years
Expensive relative to growth - PEG of 2.2

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsElectricalsCable

Part ofNIFTY500MOMENTM50 NIFTY TOTAL MKT NIFTY SML250 Q50 NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	POLYCAB	8250.00	43.40	124320.56	0.57	796.65	32.84	8209.73	39.01	34.93	13.84
2.	KEI	4570.00	43.83	43689.47	0.10	274.14	40.05	3185.34	22.97	20.23	12.43
3.	DHOOTTRANS	1727.35	89.08	35332.61	0.00	1326.70	—	14464.15	—	24.14	15.10
4.	RRKABEL	2424.55	45.13	27423.00	0.39	205.20	128.59	3168.20	53.90	28.43	9.01
5.	FINCABLES	1423.25	27.20	21767.09	0.63	249.04	53.14	2013.15	44.26	16.06	14.16
6.	PRECWIRE	463.20	499.77	8467.59	0.27	46.45	71.48	1779.24	61.20	33.09	4.76
7.	UNIVCABLES	1492.85	25.85	5179.50	0.30	70.14	-78.69	945.06	57.46	11.69	13.80
8.	LASERPOWER	290.15	26.87	4072.79	0.00	207.32	—	5215.47	—	24.84	12.62
9.	ADVAIT	2061.30	38.43	2255.68	0.10	14.80	65.77	179.27	51.37	28.24	13.36
10.	DYCL	455.40	24.20	2206.81	0.11	249.53	1270.52	3491.01	1232.27	26.80	10.89
11.	PARACABLES	64.84	34.81	2121.82	0.00	19.70	6.49	529.40	17.35	16.62	6.56
12.	QUADFUTURE	479.35	0.00	1917.40	0.00	-9.13	32.36	40.59	41.27	-7.01	-8.25

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	1,204	1,187	1,222	1,401	1,230	1,312	1,182	1,595	1,396	1,376	1,599	1,951	2,013
	1,058	1,041	1,088	1,239	1,104	1,206	1,044	1,424	1,259	1,231	1,441	1,771	1,791
Operating Profit	146	146	134	162	127	106	138	171	136	145	158	180	222
OPM %	12.17%	12.30%	10.94%	11.56%	10.31%	8.07%	11.65%	10.71%	9.77%	10.55%	9.86%	9.25%	11.04%
	39	42	45	50	46	52	45	55	54	37	41	33	51
Interest	0	0	0	1	0	0	0	0	0	0	0	0	0
Depreciation	10	11	11	12	11	12	12	12	14	14	15	17	22
Profit before Tax	175	177	167	199	162	145	170	213	176	168	184	196	314
Tax %	28.41%	29.60%	27.94%	31.88%	45.56%	22.56%	26.60%	32.80%	22.64%	25.91%	28.53%	40.28%	20.80%
Net Profit	0	0	0	0	2,439	118	147	192	163	163	164	2,244	249
	10.49	10.08	9.87	12.17	15.95	7.71	9.63	12.53	10.63	10.63	10.73	14.67	16.28

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	2,445	2,815	3,078	2,877	2,768	3,768	4,481	5,014	5,319	6,321	6,939
	2,049	2,380	2,631	2,494	2,398	3,343	3,972	4,426	4,798	5,702	6,233
Operating Profit	396	435	447	383	370	425	509	588	521	619	705
OPM %	16.19%	15.46%	14.52%	13.33%	13.37%	11.28%	11.36%	11.73%	9.80%	9.80%	10.16%
	59	87	105	92	77	75	118	175	218	166	163
Interest	4	1	1	2	1	2	1	2	2	2	2
Depreciation	48	44	41	39	39	39	46	44	47	59	67
Profit before Tax	504	549	610	512	631	787	649	864	922	929	862
Tax %	20.54%	39.89%	33.23%	23.64%	26.85%	23.83%	22.35%	24.55%	24.03%	23.13%	27.87%
Net Profit	400	330	407	391	461	599	504	652	701	714	622
EPS	26.20	21.58	26.64	25.57	30.17	39.18	32.97	42.61	45.82	46.66	—
Dividend Payout %	11.46%	18.53%	16.89%	21.51%	18.23%	15.32%	21.23%	18.78%	17.46%	19.29%	—

COMPOUNDED SALES GROWTH

10 Years:: 10%
5 Years:: 18%
3 Years:: 12%

COMPOUNDED PROFIT GROWTH

10 Years:: 8%
5 Years:: 9%
3 Years:: 12%

STOCK PRICE CAGR

10 Years:: 13%
5 Years:: 24%
3 Years:: 10%
1 Year:: 69%

RETURN ON EQUITY

10 Years:: 15%
5 Years:: 14%
3 Years:: 13%
Last Year:: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	31	31	31	31	31	31	31	31	31	31
	2,110	2,398	2,706	2,973	3,384	3,891	4,340	4,915	5,465	6,055
	1	1	0	6	4	7	10	15	15	14
Trade Payables	188	177	208	159	176	190	209	234	242	222
	109	177	208	239	291	375	1,661	1,768	1,999	2,281
Total Liabilities	2,440	2,784	3,154	3,407	3,886	4,494	6,250	6,963	7,751	8,603
	415	409	404	387	394	380	435	444	583	848
Capital Work in Progress	8	5	10	27	26	87	21	168	210	105
	1,159	1,523	1,767	1,121	1,571	2,014	2,610	3,584	3,986	4,195
	462	499	587	593	755	653	675	576	717	1,023
	0	0	0	0	0	0	0	177	243	370
Cash & Bank	176	104	49	934	54	38	73	98	145	168
	219	244	337	345	1,085	1,322	2,436	1,915	1,867	1,893
Total Assets	2,440	2,784	3,154	3,407	3,886	4,494	6,250	6,963	7,751	8,603

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	341	370	316	419	231	605	488	577	207	49
Cash from Investing	-126	-134	-110	587	-859	-378	-225	-440	-82	153
Cash from Financing	-75	-57	-75	-86	-86	-87	-97	-112	-128	-129
	11	44	-30	810	-831	8	35	26	-3	73

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	35.86	35.86	35.86	35.86	35.86	35.86	35.86	35.86	35.86
	11.64	11.32	10.99	10.57	10.67	9.90	9.42	9.62	9.65
	16.83	16.73	16.24	16.06	15.56	15.87	15.76	16.43	16.70
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	35.66	36.09	36.91	37.51	37.91	38.37	38.96	38.10	37.79

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-05

Shareholders meeting

2026-09-05 - Finolex Cables Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 28, 2026

2026-09-04

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-04 - Finolex Cables Limited has informed the Exchange about Schedule of meet

2026-08-29

General Updates

2026-08-29 - Finolex Cables Limited has informed the Exchange about General Updates

2026-08-29

Record Date

2026-08-29 - Finolex Cables Limited has informed the Exchange that Record date for the purpose of Dividend is 04-Sep-2026.

2026-08-29

Record Date

2026-08-29 - Finolex Cables Limited has informed the Exchange that Record date for the purpose of Dividend is 04-Sep-2026.

2026-08-27

General Updates

2026-08-27 - Finolex Cables Limited has informed the Exchange about General Updates

2026-08-21

Updates

2026-08-21 - Finolex Cables Limited has informed the Exchange regarding 'Machine Readable Form copy of Financial Results for June 26'.

2026-08-18

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-18 - Finolex Cables Limited has informed the Exchange about Transcript

2026-08-13

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-13 - Finolex Cables Limited has informed the Exchange about Link of Recording

News

Recent coverage and analyst commentary for FINCABLES

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