Finolex Cables Ltd

About [ edit ]

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. #

Key Points [ edit ]
  • Market Cap 5,662 Cr.
  • Current Price 370
  • High / Low 426 / 192
  • Stock P/E 18.6
  • Book Value 180
  • Dividend Yield 1.49 %
  • ROCE 19.5 %
  • ROE 15.6 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 19.33%

Cons

  • The company has delivered a poor sales growth of 3.28% over past five years.
  • Earnings include an other income of Rs.119.65 Cr.

Peer comparison

Sector: Cables Industry: Cables - Power

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
796 791 714 750 823 808 716 702 651 377 639 830
681 661 628 640 697 702 631 610 564 343 557 724
Operating Profit 115 130 86 110 126 106 84 92 87 35 82 107
OPM % 14% 16% 12% 15% 15% 13% 12% 13% 13% 9% 13% 13%
Other Income 24 20 58 19 24 22 65 27 59 22 20 19
Interest 1 0 0 0 0 0 0 0 1 0 0 0
Depreciation 10 10 11 10 10 10 10 10 10 10 10 8
Profit before tax 128 140 133 119 140 118 139 109 136 47 92 117
Tax % 36% 35% 30% 36% 39% 31% 11% 26% 14% 25% 25% 29%
Net Profit 82 90 93 76 85 82 123 81 117 35 69 83
EPS in Rs 5.35 5.91 6.07 4.97 5.55 5.33 8.05 5.27 7.66 2.29 4.52 5.41

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,342 1,619 2,036 2,064 2,271 2,359 2,449 2,360 2,445 2,815 3,078 2,877 2,498
1,272 1,434 1,864 1,892 2,045 2,111 2,189 2,021 2,073 2,392 2,622 2,507 2,188
Operating Profit 69 185 171 172 226 248 260 339 371 423 455 370 311
OPM % 5% 11% 8% 8% 10% 11% 11% 14% 15% 15% 15% 13% 12%
Other Income -28 -40 -6 3 5 59 81 64 100 127 118 172 120
Interest 32 19 19 26 13 14 14 9 4 1 1 2 1
Depreciation 39 37 39 39 47 48 64 58 48 44 41 39 38
Profit before tax -30 89 107 109 171 244 263 336 419 504 532 501 391
Tax % -18% 35% 19% 10% 15% 15% 25% 26% 25% 29% 35% 20%
Net Profit -35 58 87 98 145 208 199 249 316 358 344 402 304
EPS in Rs -2.32 3.77 5.68 6.42 9.50 13.58 12.99 16.27 20.65 23.42 22.50 26.32 19.88
Dividend Payout % -9% 16% 12% 12% 13% 12% 14% 15% 15% 17% 20% 21%
Compounded Sales Growth
10 Years:6%
5 Years:3%
3 Years:6%
TTM:-18%
Compounded Profit Growth
10 Years:14%
5 Years:19%
3 Years:8%
TTM:-18%
Stock Price CAGR
10 Years:23%
5 Years:5%
3 Years:-18%
1 Year:76%
Return on Equity
10 Years:16%
5 Years:16%
3 Years:16%
Last Year:16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
31 31 31 31 31 31 31 31 31 31 31 31 31
Reserves 566 613 687 770 894 1,073 1,234 1,565 1,847 2,163 2,409 2,688 2,718
Borrowings 296 275 260 172 181 147 127 51 1 1 1 8 7
194 225 242 244 299 314 242 272 297 281 329 285 336
Total Liabilities 1,086 1,143 1,220 1,216 1,404 1,564 1,634 1,918 2,176 2,476 2,769 3,012 3,091
416 419 403 429 412 496 464 432 415 409 404 387 367
CWIP 40 29 19 12 36 11 7 3 8 5 10 27 40
Investments 314 280 245 237 324 403 494 700 896 1,215 1,382 726 779
316 415 552 538 632 654 669 783 857 847 973 1,872 1,905
Total Assets 1,086 1,143 1,220 1,216 1,404 1,564 1,634 1,918 2,176 2,476 2,769 3,012 3,091

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
242 99 34 206 149 224 183 276 213 236 154 259
-93 -19 -25 -30 -32 -67 -186 -127 -126 -134 -110 637
-146 -112 -73 -166 -46 -61 -39 -68 -75 -57 -75 -86
Net Cash Flow 4 -33 -65 10 71 96 -43 81 11 44 -30 810

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 9% 19% 17% 17% 20% 20% 18% 21% 24% 25% 23% 19%
Debtor Days 16 16 23 20 24 22 18 19 19 23 25 24
Inventory Turnover 5.59 6.63 6.41 5.70 5.57 5.19 5.42 5.44 4.47 4.33 4.26 3.61

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
37.33 37.33 37.33 37.33 37.33 35.92 35.92 35.92 35.92 35.92 35.92 35.92
6.20 6.50 6.59 6.71 6.29 7.68 7.31 7.48 6.96 7.07 7.55 8.36
21.78 20.55 20.42 20.33 20.53 19.44 20.15 19.20 19.80 18.78 18.33 18.11
34.70 35.62 35.66 35.64 35.85 36.96 36.62 37.41 37.32 38.23 38.21 37.61

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