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Consolidated Standalone

Finolex Cables

₹1200.9 -65 | 5.1%

Market Cap ₹18366 Cr.

Stock P/E 28.2

P/B 3.5

Current Price ₹1200.9

Book Value ₹ 339.5

Face Value 2

52W High ₹1700

Dividend Yield 0.67%

52W Low ₹ 833

Edit Ratio

Finolex Cables Research see more...

Overview Inc. Year: 1967Industry: Cable

Finolex Cables Ltd is an India-based manufacturer of electrical and communication cables. The Company offers a number of electrical and communication cables. The Company's wire and cable products are utilized in programs, along with car, lights, cable television (TV), telephone and computers to business packages. Its range of merchandise consists of Electrical Switches, LED based lamps, fans, low voltage miniature circuit breakers (MCBs) and water warmers. The Company operates via four segments: Electrical Cables, Communication Cables, Copper Rods, and Others - Trading of Electrical and other goods. Electrical Cables segment manufactures electric cables and electricity, and control cables. The communication segment is engaged in production today's, new technology communique cables and conventional smartphone cables.

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Finolex Cables Share Price

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Peer Comparison

Finolex Cables Quarterly Results

#(Fig in Cr.) Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Net Sales 1016 1091 1150 1224 1204 1187 1222 1401 1230 1312
Other Income 17 26 33 42 39 42 45 50 46 52
Total Income 1033 1117 1183 1266 1243 1229 1267 1451 1277 1363
Total Expenditure 897 992 1004 1079 1058 1041 1088 1239 1104 1206
Operating Profit 136 124 179 188 185 188 179 212 173 157
Interest 0 0 0 1 0 0 0 1 0 0
Depreciation 9 11 11 15 11 11 11 12 11 12
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 127 114 168 172 175 177 167 199 162 145
Provision for Tax 34 24 35 53 50 52 47 63 74 33
Profit After Tax 93 90 133 119 125 124 121 136 88 113
Adjustments 27 -34 21 56 35 30 30 51 156 5
Profit After Adjustments 120 55 154 175 160 154 151 186 244 118
Adjusted Earnings Per Share 7.8 3.6 10.1 11.4 10.5 10.1 9.9 12.2 15.9 7.7

Finolex Cables Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Net Sales 2360 2445 2815 3078 2877 2768 3768 4481 5014 5165
Other Income 56 59 87 105 92 77 75 118 175 193
Total Income 2416 2504 2902 3182 2969 2845 3843 4599 5190 5358
Total Expenditure 2002 2049 2380 2631 2494 2398 3343 3972 4426 4637
Operating Profit 414 455 522 551 475 447 500 627 764 721
Interest 9 4 1 1 2 1 2 1 2 1
Depreciation 58 48 44 41 39 39 39 46 44 46
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 416 504 549 610 512 631 787 649 864 673
Provision for Tax 88 103 219 203 121 169 187 145 212 217
Profit After Tax 329 400 330 407 391 461 599 504 652 458
Adjustments 0 0 0 0 0 0 0 0 0 242
Profit After Adjustments 329 400 330 407 391 461 599 504 652 699
Adjusted Earnings Per Share 21.5 26.2 21.6 26.6 25.6 30.2 39.2 33 42.6 45.7

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 12% 22% 10% 0%
Operating Profit CAGR 22% 20% 7% 0%
PAT CAGR 29% 12% 10% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 13% 32% 27% 17%
ROE Average 14% 14% 14% 17%
ROCE Average 19% 19% 19% 22%

Finolex Cables Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Shareholder's Funds 1776 2141 2429 2737 3004 3415 3922 4370 4946
Minority's Interest 0 0 0 0 0 0 0 0 0
Borrowings 26 1 1 0 0 0 0 0 1
Other Non-Current Liabilities 30 24 115 155 164 220 278 943 926
Total Current Liabilities 267 273 240 261 239 251 294 936 1090
Total Liabilities 2099 2440 2784 3154 3407 3886 4494 6250 6963
Fixed Assets 432 415 409 404 387 394 380 435 445
Other Non-Current Assets 484 769 865 1058 951 1148 1317 1988 2216
Total Current Assets 1183 1255 1510 1692 2069 2343 2797 3828 4302
Total Assets 2099 2440 2784 3154 3407 3886 4494 6250 6963

Finolex Cables Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Opening Cash & Cash Equivalents 138 21 32 77 46 856 25 32 67
Cash Flow from Operating Activities 339 213 236 154 309 114 473 356 577
Cash Flow from Investing Activities -195 -126 -134 -110 587 -859 -378 -225 -440
Cash Flow from Financing Activities -64 -75 -57 -75 -86 -86 -87 -97 -112
Net Cash Inflow / Outflow 81 11 44 -30 810 -831 8 35 26
Closing Cash & Cash Equivalent 219 32 77 46 856 25 32 67 93

Finolex Cables Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Earnings Per Share (Rs) 21.49 26.17 21.58 26.64 25.56 30.17 39.17 32.97 42.61
CEPS(Rs) 25.28 29.31 24.45 29.29 28.11 32.72 41.71 36 45.48
DPS(Rs) 2.5 3 4 4.5 5.5 5.5 6 7 8
Book NAV/Share(Rs) 116.11 139.97 158.81 178.95 196.39 223.24 256.43 285.74 323.36
Core EBITDA Margin(%) 13.92 14.82 15.09 14.52 13.33 13.37 11.28 11.36 11.73
EBIT Margin(%) 16.51 19.02 19.09 19.86 17.85 22.82 20.92 14.52 17.27
Pre Tax Margin(%) 16.17 18.86 19.04 19.83 17.8 22.79 20.88 14.49 17.23
PAT Margin (%) 12.77 14.99 11.45 13.24 13.59 16.67 15.9 11.25 13
Cash Profit Margin (%) 15.02 16.78 12.96 14.56 14.94 18.08 16.93 12.29 13.87
ROA(%) 20.58 17.64 12.64 13.72 11.92 12.66 14.3 9.39 9.86
ROE(%) 27.96 20.44 14.45 15.77 13.62 14.38 16.33 12.16 13.99
ROCE(%) 32.78 25.6 24.09 23.65 17.89 19.68 21.48 15.69 18.59
Receivable days 13.97 17.1 18.94 22.88 25.24 23.97 17.13 16.08 14.38
Inventory Days 35.24 54.07 60.81 64.41 74.86 88.9 68.22 54.07 45.53
Payable days 13.78 29.4 32.81 31.08 32.14 29.78 22.52 20.53 20.47
PER(x) 13.05 19.74 31.01 17.92 7.95 12.62 9.64 24.62 23.49
Price/Book(x) 2.41 3.69 4.21 2.67 1.04 1.71 1.47 2.84 3.1
Dividend Yield(%) 0.89 0.58 0.6 0.94 2.7 1.44 1.59 0.86 0.8
EV/Net Sales(x) 1.75 3.16 3.6 2.36 0.76 2.09 1.52 2.75 3.03
EV/Core EBITDA(x) 9.94 16.97 19.41 13.16 4.58 12.91 11.48 19.68 19.92
Net Sales Growth(%) 258.58 3.58 15.15 9.33 -6.51 -3.79 36.13 18.92 11.9
EBIT Growth(%) 724.48 19.48 8.39 11 -15.96 22.98 24.78 -17.44 33.06
PAT Growth(%) 974.5 21.77 -17.52 23.43 -4.04 18.02 29.84 -15.83 29.23
EPS Growth(%) 432.89 21.77 -17.52 23.43 -4.04 18.02 29.84 -15.83 29.23
Debt/Equity(x) 0.03 0 0 0 0 0 0 0 0
Current Ratio(x) 4.42 4.59 6.3 6.48 8.66 9.35 9.53 4.09 3.95
Quick Ratio(x) 3.19 2.9 4.22 4.23 6.18 6.33 7.3 3.37 3.42
Interest Cover(x) 47.51 118.41 382.35 664.28 331.35 831.09 518.52 524.75 426.51
Total Debt/Mcap(x) 0.01 0 0 0 0 0 0 0 0

Finolex Cables Shareholding Pattern

# Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Promoter 35.86 35.86 35.86 35.86 35.86 35.86 35.86 35.86 35.86 35.86
FII 9.23 7.83 8.3 8.87 11.24 11.75 11.05 11.56 11.65 11.32
DII 15.25 20.18 19.96 18.89 15.53 15.56 15.9 15.85 16.84 16.73
Public 39.49 35.97 35.72 36.22 37.21 36.68 37.03 36.58 35.66 36.09
Others 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Debtor days have improved from 20.53 to 20.47days.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 35.86%.
  • Company has a low return on equity of 14% over the last 3 years.
  • Stock is trading at 3.5 times its book value.
  • The company has delivered a poor profit growth of 9% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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