Finolex Cables Q4 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹17,431 Cr
- P/E
- 21.79
- ROE
- 12.33%
- PEG
- 1.77
- Price to sales
- 2.49
- Debt to equity
- 0.00
- 52W high / low
- ₹1,484 / ₹711
- Sales growth (5Y)
- 17.96%
- EBITDA margin
- 10.48%
- Net profit margin
- 11.29%
- Promoter holding
- 35.86%
- Sales (last year)
- ₹6,939 Cr
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.
Guidance scorecard · Q4 FY26 call
What Finolex Cables Ltd's management guided
and where it ranks in Industrial Products
RevenueQ4 FY26 call
10–20%- Communication cables volume growth between FY25 and FY26 was about 7%.
- Revenue from communications remained around INR 500 crores for FY25 and FY26 due to depressed prices in H1 FY26, with recovery starting in H2.
- The expanded fiber optic cable capacity (8 million kilometers) is expected by end of Q2 FY27, with potential revenue of around INR 750 crores after expansion.
- Revenue potential at current prices can exceed INR 750 crores, possibly up to INR 1,200-1,300 crores depending on order mix and fiber count.
2 more points from Finolex Cables Ltd's call on revenue
Create a free account to keep reading this call
MarginsQ4 FY26 call
FlatSee what Finolex Cables Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- Capacity enhancement capex of about INR 200 crores is planned.
- Additional INR 100 crores to be spent on ongoing optic fiber/optic fiber cable expansion, completing 8 million kilometers fiber expansion by July/August.
- Total capex for current year expected to be INR 300 crores (INR 200 crores new capacity + INR 100 crores ongoing fiber expansion).
- Preform plant Phase 1 setup for 100 metric tons completed; preform-related capex balance to be spent.
- Plans to double solar cable capacity included in current capex.
- Continued capex on rebalancing and adding new lines annually.
- No current plans to produce silica (backward integration beyond preform).
2 more points from Finolex Cables Ltd's call on capex
Create a free account to keep reading this call
FundraisingQ4 FY26 call
See what Finolex Cables Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
- There is one major contract up for renewal by end of June, covering slightly more than half of the plant's capacity.
- The company expects to renew this major contract, having been a supplier for 8 years with satisfactory product quality.
- The remaining capacity is sold to other customers.
2 more points from Finolex Cables Ltd's call on the order book
Create a free account to keep reading this call
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹532 Cr | 21.2 | |
| 2 | 40%+ | Up 2%+ | ₹450 Cr | 13.2 | |
| 3 | 40%+ | Up 2%+ | ₹371 Cr | 26.1 | |
| 4 | 40%+ | Up 0–2% | ₹1,340 Cr | 32.9 | |
| 5 | 40%+ | Up 0–2% | ₹1,196 Cr | 14.1 | |
| 6 | 40%+ | Flat | ₹966 Cr | 25.0 |
Sign up free to see every company in the sector ranking and track Finolex Cables Ltd.
Pro shows every company guiding 40%+ revenue growth →Full Industrial Products rankingFinancials of Finolex Cables Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Finolex Cables Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,150 | 1,224 | 1,204 | 1,187 | 1,222 | 1,401 | 1,230 | 1,312 | 1,182 | 1,595 | 1,396 | 1,376 | 1,599 |
| Expenses + | 1,004 | 1,079 | 1,058 | 1,041 | 1,088 | 1,239 | 1,104 | 1,206 | 1,044 | 1,424 | 1,259 | 1,231 | 1,441 |
| Operating Profit | 146 | 146 | 146 | 146 | 134 | 162 | 127 | 106 | 138 | 171 | 136 | 145 | 158 |
| OPM % | 13% | 12% | 12% | 12% | 11% | 12% | 10% | 8% | 12% | 11% | 10% | 11% | 10% |
| Other Income + | 54 | 98 | 74 | 72 | 75 | 100 | 202 | 57 | 67 | 104 | 80 | 76 | 74 |
| Interest | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 11 | 15 | 10 | 11 | 11 | 12 | 11 | 12 | 12 | 12 | 14 | 14 | 15 |
| Profit before tax | 189 | 228 | 210 | 206 | 198 | 250 | 318 | 151 | 193 | 261 | 203 | 206 | 216 |
| Tax % | 18% | 23% | 24% | 25% | 24% | 25% | 23% | 22% | 24% | 27% | 20% | 21% | 24% |
| Net Profit + | 154 | 175 | 160 | 154 | 151 | 186 | 244 | 118 | 147 | 192 | 163 | 163 | 164 |
| EPS in Rs | 10.09 | 11.44 | 10.49 | 10.08 | 9.87 | 12.17 | 15.95 | 7.71 | 9.63 | 12.54 | 10.63 | 10.63 | 10.73 |
Financials of Finolex Cables Ltd
Profit & Loss
Annual income statement trend
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 2,360 | 2,445 | 2,815 | 3,078 | 2,877 | 2,768 | 3,768 | 4,481 | 5,014 | 5,319 | 5,965 |
| Expenses + | 2,002 | 2,049 | 2,374 | 2,604 | 2,494 | 2,398 | 3,339 | 3,972 | 4,426 | 4,776 | 5,355 |
| Operating Profit | 358 | 396 | 441 | 474 | 384 | 370 | 429 | 509 | 588 | 543 | 610 |
| OPM % | 15% | 16% | 16% | 15% | 13% | 13% | 11% | 11% | 12% | 10% | 10% |
| Other Income + | 125 | 160 | 153 | 178 | 169 | 300 | 398 | 188 | 321 | 428 | 334 |
| Interest | 9 | 4 | 1 | 1 | 2 | 1 | 2 | 1 | 2 | 2 | 2 |
| Depreciation | 58 | 48 | 44 | 41 | 39 | 39 | 39 | 46 | 44 | 47 | 55 |
| Profit before tax | 416 | 504 | 549 | 610 | 512 | 631 | 787 | 649 | 864 | 922 | 887 |
| Tax % | 21% | 21% | 40% | 33% | 24% | 27% | 24% | 22% | 25% | 24% | |
| Net Profit + | 329 | 400 | 330 | 407 | 391 | 461 | 599 | 504 | 652 | 701 | 681 |
| EPS in Rs | 21.49 | 26.17 | 21.58 | 26.64 | 25.57 | 30.17 | 39.18 | 32.97 | 42.61 | 45.82 | 44.53 |
| Dividend Payout % | 14% | 11% | 19% | 17% | 22% | 18% | 15% | 21% | 19% | 17% |
Financials of Finolex Cables Ltd
Balance Sheet
Capital structure and asset base
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 |
| Reserves | 1,745 | 2,110 | 2,398 | 2,706 | 2,973 | 3,384 | 3,891 | 4,340 | 4,915 | 5,465 | 5,672 |
| Borrowings + | 51 | 1 | 1 | 1 | 8 | 7 | 9 | 14 | 18 | 20 | 22 |
| Other Liabilities + | 272 | 297 | 354 | 417 | 395 | 464 | 563 | 596 | 671 | 771 | 933 |
| Total Liabilities | 2,099 | 2,440 | 2,784 | 3,154 | 3,407 | 3,886 | 4,494 | 4,980 | 5,635 | 6,287 | 6,657 |
| Fixed Assets + | 432 | 415 | 409 | 404 | 387 | 394 | 380 | 435 | 444 | 583 | 577 |
| CWIP | 3 | 8 | 5 | 10 | 27 | 26 | 87 | 21 | 168 | 210 | 303 |
| Investments | 881 | 1,159 | 1,523 | 1,767 | 1,121 | 1,571 | 2,014 | 2,610 | 3,584 | 3,986 | 4,281 |
| Other Assets + | 783 | 857 | 847 | 973 | 1,872 | 1,894 | 2,013 | 1,915 | 1,439 | 1,507 | 1,496 |
| Total Assets | 2,099 | 2,440 | 2,784 | 3,154 | 3,407 | 3,886 | 4,494 | 4,980 | 5,635 | 6,287 | 6,657 |
Financials of Finolex Cables Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 339 | 213 | 236 | 154 | 309 | 114 | 473 | 356 | 577 | 207 |
| Cash from Investing Activity + | -195 | -126 | -134 | -110 | 587 | -859 | -378 | -225 | -440 | -82 |
| Cash from Financing Activity + | -64 | -75 | -57 | -75 | -86 | -86 | -87 | -97 | -112 | -128 |
| Net Cash Flow | 81 | 11 | 44 | -30 | 810 | -831 | 8 | 35 | 26 | -3 |
| Free Cash Flow | 327 | 178 | 199 | 110 | 277 | 59 | 406 | 325 | 577 | 207 |
| CFO/OP | 114% | 86% | 84% | 67% | 109% | 63% | 141% | 96% | 125% | 64% |
Financials of Finolex Cables Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 19 | 19 | 23 | 25 | 24 | 23 | 17 | 18 | 13 | 17 |
| Inventory Days | 70 | 98 | 90 | 95 | 104 | 134 | 80 | 69 | 53 | 61 |
| Days Payable | 19 | 40 | 32 | 34 | 28 | 31 | 23 | 21 | 22 | 21 |
| Cash Conversion Cycle | 70 | 76 | 80 | 86 | 100 | 126 | 74 | 66 | 45 | 57 |
| Working Capital Days | 45 | 52 | 60 | 73 | 82 | 202 | 159 | 120 | 68 | 59 |
| ROCE % | 26% | 24% | 24% | 18% | 20% | 21% | 16% | 19% | 18% |
Guidance history
How Finolex Cables Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q3 FY26 call → | 20–40% | Flat | Planned | — | — |
| Q2 FY26 call → | 0–10% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
40 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +44.4% | 84% |
| Last 6 months | +15.1% | 72% |
| Last 3 months | +15.4% | 86% |
The price is 31.6% below its all-time high of ₹1,666.5 (5 Jul 2024). Stocks more than 20% below their peak have their score halved, so 80 became 40.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Finolex Cables Ltd: 0.4 × 84 + 0.4 × 72 + 0.2 × 86 = 80, halved to 40 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Finolex Cables Ltd's management said in earlier quarters
Others in Industrial Products this season
- Captain Polyplast Ltd (Q2 FY27)
32.9% increase . Key results statement takeaways from Captain Polyplast Ltd's Q2 FY27 results statement — and how it ranks against sector peers.
- Shyam Metalics & Energy Ltd (Q2 FY27)
Q2 FY27 Revenue:** ₹5,960.2 crore, up 33.4% YoY (Page 38) . Key investor presentation takeaways from Shyam Metalics & Energy Ltd's Q2 FY27 investor presentation
- Ratnaveer Precision Engineering Ltd (Q2 FY27)
Q2 FY27 Revenue: ₹3,872.37 million . Key investor presentation takeaways from Ratnaveer Precision Engineering Ltd's Q2 FY27 investor presentation — and how it r
- HEG Advanced Materials Ltd (Q2 FY27)
For the quarter ended September 30, 2026, HEG Limited reported total revenue from operations of ₹1,520.64 crores. Key results statement takeaways from HEG Advan