Finolex Cables Ltd
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]
- Market Cap ₹ 15,361 Cr.
- Current Price ₹ 1,004
- High / Low ₹ 1,219 / 772
- Stock P/E 27.4
- Book Value ₹ 256
- Dividend Yield 0.70 %
- ROCE 18.5 %
- ROE 14.4 %
- Face Value ₹ 2.00
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.210 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
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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 | 4,838 | |
1,884 | 2,041 | 2,111 | 2,189 | 2,021 | 2,073 | 2,392 | 2,622 | 2,507 | 2,413 | 3,352 | 3,986 | 4,268 | |
Operating Profit | 180 | 230 | 248 | 260 | 339 | 371 | 423 | 455 | 370 | 355 | 416 | 496 | 569 |
OPM % | 9% | 10% | 11% | 11% | 14% | 15% | 15% | 15% | 13% | 13% | 11% | 11% | 12% |
-5 | 1 | 59 | 81 | 64 | 100 | 127 | 118 | 172 | 77 | 151 | 198 | 210 | |
Interest | 26 | 13 | 14 | 14 | 9 | 4 | 1 | 1 | 2 | 1 | 2 | 1 | 2 |
Depreciation | 39 | 47 | 48 | 64 | 58 | 48 | 44 | 41 | 39 | 39 | 39 | 46 | 47 |
Profit before tax | 109 | 171 | 244 | 263 | 336 | 419 | 504 | 532 | 501 | 392 | 527 | 646 | 730 |
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 | 560 | |
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 | 36.61 |
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: | 9% |
Compounded Profit Growth | |
---|---|
10 Years: | 12% |
5 Years: | 7% |
3 Years: | 8% |
TTM: | 19% |
Stock Price CAGR | |
---|---|
10 Years: | 23% |
5 Years: | 17% |
3 Years: | 40% |
1 Year: | 15% |
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 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 31 | 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 | 3,892 |
172 | 181 | 147 | 127 | 51 | 1 | 1 | 1 | 8 | 7 | 9 | 14 | 19 | |
244 | 299 | 314 | 242 | 272 | 297 | 281 | 329 | 285 | 294 | 328 | 360 | 473 | |
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 | 4,414 |
429 | 412 | 496 | 464 | 432 | 415 | 409 | 404 | 387 | 394 | 380 | 435 | 448 | |
CWIP | 12 | 36 | 11 | 7 | 3 | 8 | 5 | 10 | 27 | 26 | 87 | 21 | 23 |
Investments | 237 | 324 | 403 | 494 | 700 | 896 | 1,215 | 1,382 | 726 | 937 | 1,120 | 1,713 | 2,308 |
538 | 632 | 654 | 669 | 783 | 857 | 847 | 973 | 1,872 | 1,894 | 2,013 | 1,915 | 1,635 | |
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 | 4,414 |
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% |
Documents
Announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 9h
- Compliance Certificate Under Regulation 40(10) Of The SEBI (LODR), Regulations, 2015. 19 Apr
- SEBI KYC Reminder Letters To The Shareholders Of The Company. 16 Apr
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 15 Apr
- Compliance Certificate For The Financial Year Ended March 31, 2024. 12 Apr
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Financial Year 2010
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Concalls
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT REC
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Aug 2023Transcript PPT
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May 2023Transcript PPT
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Feb 2023Transcript PPT
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Nov 2022TranscriptNotesPPT
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Jun 2022Transcript PPT
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Nov 2021Transcript PPT
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Jul 2021TranscriptNotesPPT
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Feb 2021TranscriptNotesPPT
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Nov 2020Transcript PPT
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Aug 2020TranscriptNotesPPT
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Jun 2020Transcript PPT
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Feb 2020TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
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Aug 2019Transcript PPT
Market Share[1]
As of Q1FY24, company enjoys 22% market share in the organised wire industry.