Finolex Cables Ltd
Finolex Cables Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management said on revenue, margins and capex.
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The short version
Electrical cables segment has capacity for revenues of approximately INR 6,500 crores at peak utilization; current utilization is just under 70%, indicating room for growth. Finolex Cables expects modest revenue growth driven by improving utilization and new product launches, particularly in electrical and communication cables segments.
From Finolex Cables Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Electrical cables segment has capacity for revenues of approximately INR 6,500 crores at peak utilization; current utilization is just under 70%, indicating room for growth.
- Communication cable segment growth depends on fiber count and design; low fiber count products yield lower revenue per km, higher fiber count products yield much higher revenue.
- Communication segment margins currently low single digits, expected to improve to 8-10% post stabilization of new preform plant and fiber draw units.
- FMEG segment (fans, water heaters, lighting, switches, switchgear) is under product development; target of INR 500 crores revenue by 2028 remains on track.
- Impact of macro factors: Housing demand currently moderate due to market conditions; infrastructure demand strong but tender-driven and selective participation planned.
2 more points from Finolex Cables Ltd's call on revenue
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Profitability & Margins
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Capital Expenditure Plans
- Finolex Cables has ongoing capital expenditure primarily focused on the preform plant and fiber draw plant.
- The preform plant is ready and awaiting production trials, expected to start soon.
- The fiber draw plant building is nearing completion with machines expected imminently; full completion targeted by March 2026.
- Total capex spent recently: INR 75 crores in the quarter and INR 100 crores in the half-year.
- Investments aim to enhance in-house manufacturing, reduce import duty costs (e.g., savings from not importing preforms from the U.S.), and improve margins.
2 more points from Finolex Cables Ltd's call on capex
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Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- BharatNet Phase 3: No meaningful orders received yet; participated but not successful in initial 16 tenders (12 awarded, 4 retendering).
- Retender expected around September; ongoing discussions with awarded suppliers lacking cabling/fiber capacity for possible collaboration.
- State tenders outside BSNL: Only Gujarat floated tenders so far; seven other states expected to float tenders in next 2-4 months.
- Optimistic about gaining positions in upcoming state tenders.
- Current factory bookings around 60% capacity for private telecom contracts (Bharti, Reliance, Vodafone).
2 more points from Finolex Cables Ltd's call on order book
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Finolex Cables Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q3 FY26): revenue ₹1.6K Cr, net profit ₹164 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Finolex Cables Ltd's management said in earlier quarters
Others in Industrial Products this season
- Lead Reclaim and Rubber Products Ltd (Q2 FY26)
Revenue from Operations for H1 FY26: ₹2,190 lakhs, up 138.04% YoY (from ₹920 lakhs in H1 FY25) (Page 19) . Key investor presentation takeaways from Lead Reclaim
- Shubhshree Biofuels Energy Ltd (Q2 FY26)
Revenue from operations for H1 FY26: ₹9,604.6 Lakhs . Key investor presentation takeaways from Shubhshree Biofuels Energy Ltd's Q2 FY26 investor presentation —
- De Neers Tools Ltd (Q2 FY26)
H1FY26 Net Sales:** ₹670.4 Mn . Key investor presentation takeaways from De Neers Tools's Q2 FY26 investor presentation — and how it ranks against sector peers.
- WOL 3D India Ltd (Q2 FY26)
Revenue from Operations for H1FY26 is Rs 415 Mn, up 82% YoY from Rs 227 Mn in H1FY25 (Page 9, Page 5). Key investor presentation takeaways from WOL 3D India Ltd
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Products
on management's own guidance
- Strong growth2
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Finolex Cables Ltd Q2 FY26 results?
Electrical cables segment has capacity for revenues of approximately INR 6,500 crores at peak utilization; current utilization is just under 70%, indicating room for growth. Finolex Cables expects modest revenue growth driven by improving utilization and new product launches, particularly in electrical and communication cables segments.
What is Finolex Cables Ltd share price analysis?
Finolex Cables Ltd currently shows a neutral. The stock trades at a P/E of 21.5 with a market cap of ₹15,345 Cr. Investors should review the full earnings analysis for detailed insights.
Is Finolex Cables Ltd planning capital expenditure?
Finolex Cables has ongoing capital expenditure primarily focused on the preform plant and fiber draw plant.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.