Finolex Cables Ltd

Finolex Cables Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Finolex Cables Ltd

₹ 1,078 -2.05%
04 Oct - close price
finolex.com BSE: 500144 NSE : FINCABLES
About

Finolex Cables Limited is a leading manufacturer of electrical and telecommunication cables in India. Operating for more than 50 years, Finolex has been able to maintain its leadership position as one of the most diversified wires and cables companies in the country.

Besides manufacturing a wide variety of wires and cables, Finolex has also forayed into the manufacturing of Fast-Moving Electrical Goods (FMEG) and home appliances. Over the years, the Company has established itself as a preferred electrical solutions provider for retail and institutional markets in India and created a strong brand name. [1]

Key Points

5 Manufacturing plants
The Company owns and operates 5 manufacturing sites and 28 depots to maintain a smooth supply chain and optimum product inventory. It also manufactures its key raw materials – PVC compound and copper rods, optic fiber, and FRP rods – as part of its backward integration strategy. [1]

Website BSE NSE
  • Market Cap ₹ 16,475 Cr.
  • Current Price ₹ 1,078
  • High / Low ₹ 1,219 / 446
  • Stock P/E 30.6
  • Book Value ₹ 243
  • Dividend Yield 0.65 %
  • ROCE 18.5 %
  • ROE 14.4 %
  • Face Value ₹ 2.00
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 24.6%
  • Company's working capital requirements have reduced from 160 days to 120 days

Cons

  • Company has a low return on equity of 12.6% over last 3 years.
  • Earnings include an other income of Rs.220 Cr.

* 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.

Peer comparison

Sector: Cables Industry: Cables - Power

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023
377 639 830 921 675 933 973 1,187 1,016 1,091 1,150 1,224 1,204
343 557 724 790 605 813 864 1,070 902 998 1,009 1,077 1,060
Operating Profit 35 82 107 131 70 120 109 117 114 93 141 148 144
OPM % 9% 13% 13% 14% 10% 13% 11% 10% 11% 9% 12% 12% 12%
22 20 19 16 16 98 19 20 17 106 33 42 39
Interest 0 0 0 0 0 0 0 1 0 0 0 1 0
Depreciation 10 10 8 11 10 10 10 9 9 11 11 15 10
Profit before tax 47 92 117 136 76 207 117 126 121 188 163 174 172
Tax % 25% 25% 29% 30% 27% 28% 19% 17% 21% 27% 17% 22% 23%
35 69 83 96 55 150 95 105 96 137 135 135 132
EPS in Rs 2.29 4.52 5.41 6.28 3.60 9.79 6.22 6.84 6.25 8.94 8.82 8.80 8.65
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
2,064 2,271 2,359 2,449 2,360 2,445 2,815 3,078 2,877 2,768 3,768 4,481 4,670
1,884 2,041 2,111 2,189 2,021 2,073 2,392 2,622 2,507 2,413 3,352 3,986 4,143
Operating Profit 180 230 248 260 339 371 423 455 370 355 416 496 526
OPM % 9% 10% 11% 11% 14% 15% 15% 15% 13% 13% 11% 11% 11%
-5 1 59 81 64 100 127 118 172 77 151 198 220
Interest 26 13 14 14 9 4 1 1 2 1 2 1 1
Depreciation 39 47 48 64 58 48 44 41 39 39 39 46 48
Profit before tax 109 171 244 263 336 419 504 532 501 392 527 646 697
Tax % 10% 15% 15% 25% 26% 25% 29% 35% 20% 28% 23% 22%
98 145 208 199 249 316 358 344 402 283 405 502 538
EPS in Rs 6.42 9.50 13.58 12.99 16.27 20.65 23.42 22.50 26.32 18.50 26.46 32.81 35.21
Dividend Payout % 12% 13% 12% 14% 15% 15% 17% 20% 21% 30% 23% 21%
Compounded Sales Growth
10 Years: 7%
5 Years: 10%
3 Years: 16%
TTM: 14%
Compounded Profit Growth
10 Years: 12%
5 Years: 7%
3 Years: 8%
TTM: 21%
Stock Price CAGR
10 Years: 34%
5 Years: 17%
3 Years: 57%
1 Year: 133%
Return on Equity
10 Years: 15%
5 Years: 14%
3 Years: 13%
Last Year: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
31 31 31 31 31 31 31 31 31 31 31 31
Reserves 770 894 1,073 1,234 1,565 1,847 2,163 2,409 2,688 2,920 3,233 3,679
172 181 147 127 51 1 1 1 8 7 9 14
244 299 314 242 272 297 281 329 285 294 328 360
Total Liabilities 1,216 1,404 1,564 1,634 1,918 2,176 2,476 2,769 3,012 3,252 3,600 4,083
429 412 496 464 432 415 409 404 387 394 380 435
CWIP 12 36 11 7 3 8 5 10 27 26 87 21
Investments 237 324 403 494 700 896 1,215 1,382 726 937 1,120 1,713
538 632 654 669 783 857 847 973 1,872 1,894 2,013 1,915
Total Assets 1,216 1,404 1,564 1,634 1,918 2,176 2,476 2,769 3,012 3,252 3,600 4,083

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
206 149 224 183 276 213 236 154 309 114 473 356
-30 -32 -67 -186 -127 -126 -134 -110 587 -859 -378 -225
-166 -46 -61 -39 -68 -75 -57 -75 -86 -86 -87 -97
Net Cash Flow 10 71 96 -43 81 11 44 -30 810 -831 8 35

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 20 24 22 18 19 19 23 25 24 23 17 18
Inventory Days 65 72 74 65 70 98 90 95 104 134 80 69
Days Payable 13 14 11 13 19 40 32 34 28 31 23 21
Cash Conversion Cycle 72 83 86 69 70 76 80 86 100 126 74 66
Working Capital Days 49 53 40 34 45 50 60 73 83 202 159 120
ROCE % 17% 20% 20% 18% 21% 24% 25% 23% 19% 14% 17% 19%

Shareholding Pattern

Numbers in percentages

Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023
35.92% 35.92% 35.92% 35.92% 35.92% 35.92% 35.92% 35.92% 35.92% 35.92% 35.92% 35.92%
7.07% 7.55% 8.36% 9.29% 9.12% 9.37% 9.36% 9.25% 9.74% 10.22% 10.78% 11.25%
18.78% 18.33% 18.11% 16.60% 16.22% 16.47% 15.73% 15.28% 18.31% 18.10% 17.03% 15.56%
38.23% 38.21% 37.61% 38.20% 38.75% 38.24% 39.00% 39.56% 36.04% 35.77% 36.28% 37.27%
No. of Shareholders 63,30361,73065,57673,51880,26681,19090,84297,01299,80894,6521,00,1231,25,344

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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