Finolex Cables Ltd

Finolex Cables is principally engaged in the manufacturing of Electricals Cables, Communication Cables &other electrical appliances.

Pros:
Company has reduced debt.
Company is virtually debt free.
Company has been maintaining a healthy dividend payout of 17.20%
Cons:
The company has delivered a poor growth of 5.46% over past five years.

Peer Comparison Sector: Cables // Industry: Cables - Power

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
562 622 709 674 702 657 796 791 714 750 823 808
463 542 608 564 603 559 681 661 628 640 697 702
Operating Profit 100 80 101 110 99 98 115 130 86 110 126 106
OPM % 18% 13% 14% 16% 14% 15% 14% 16% 12% 15% 15% 13%
Other Income 55 17 14 31 55 18 24 20 58 19 24 22
Interest 1 1 1 0 0 0 1 0 0 0 0 0
Depreciation 12 12 13 12 11 11 10 10 11 10 10 10
Profit before tax 142 84 102 130 142 105 128 140 133 119 140 118
Tax % 26% 18% 26% 21% 30% 29% 36% 35% 30% 36% 39% 31%
Net Profit 105 68 75 102 100 75 82 90 93 76 85 82
EPS in Rs 6.90 4.50 5.00 6.66 6.52 4.90 5.37 5.91 6.07 4.97 5.55 5.33
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
1,382 1,342 1,619 2,036 2,064 2,271 2,359 2,449 2,360 2,445 2,815 3,078 3,094
1,248 1,272 1,434 1,864 1,892 2,045 2,111 2,189 2,021 2,073 2,392 2,622 2,667
Operating Profit 134 69 185 171 172 226 248 260 339 371 423 455 428
OPM % 10% 5% 11% 8% 8% 10% 11% 11% 14% 15% 15% 15% 14%
Other Income 33 -28 -40 -6 3 5 59 81 64 100 127 118 124
Interest 20 32 19 19 26 13 14 14 9 4 1 1 1
Depreciation 26 39 37 39 39 47 48 64 58 48 44 41 41
Profit before tax 120 -30 89 107 109 171 244 263 336 419 504 532 510
Tax % 26% -18% 35% 19% 10% 15% 15% 25% 26% 25% 29% 35%
Net Profit 89 -35 58 87 98 145 208 199 249 316 358 344 335
EPS in Rs 5.56 0.00 3.67 5.56 6.29 9.30 13.31 12.62 15.90 20.65 23.42 22.50 21.92
Dividend Payout % 26% -9% 16% 12% 12% 13% 12% 14% 15% 15% 17% 20%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:8.66%
5 Years:5.46%
3 Years:9.25%
TTM:5.03%
Compounded Profit Growth
10 Years:24.43%
5 Years:12.80%
3 Years:14.73%
TTM:-3.27%
Return on Equity
10 Years:16.68%
5 Years:16.28%
3 Years:16.77%
Last Year:14.97%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
31 31 31 31 31 31 31 31 31 31 31 31
Reserves 611 566 613 687 770 894 1,073 1,234 1,565 1,847 2,163 2,409
Borrowings 288 296 275 260 172 181 147 127 51 1 1 1
219 204 225 244 245 303 318 248 282 314 294 338
Total Liabilities 1,148 1,096 1,143 1,222 1,217 1,408 1,569 1,639 1,928 2,193 2,489 2,778
206 416 419 403 429 412 496 464 432 415 409 404
CWIP 173 40 29 19 12 36 11 7 3 8 5 10
Investments 317 314 280 245 237 324 403 494 700 896 1,215 1,382
453 326 415 555 539 636 659 675 793 874 860 982
Total Assets 1,148 1,096 1,143 1,222 1,217 1,408 1,569 1,639 1,928 2,193 2,489 2,778

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
97 242 99 34 206 149 224 183 276 213 236 154
-70 -93 -19 -25 -30 -32 -67 -186 -127 -126 -134 -110
49 -146 -112 -73 -166 -46 -61 -39 -68 -75 -57 -75
Net Cash Flow 76 4 -33 -65 10 71 96 -43 81 11 44 -30

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 16% 9% 19% 17% 17% 20% 20% 18% 21% 24% 25% 23%
Debtor Days 28 16 16 23 20 24 22 18 19 19 23 25
Inventory Turnover 6.45 7.07 8.88 8.11 7.35 7.44 6.92 7.30 7.29 6.18 5.86 5.67