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Swing Capital

Finolex Cables Ltd

NSE: FINCABLES BSE: 500144Telecom

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.

₹1,015
52W: ₹701 — ₹1173
PE 25.3 · Book ₹314 · +223% vs book
Market Cap₹15,524 Cr
Stock P/E25.3Price to Earnings
ROCE16.2%Return on Capital
ROE12.4%Return on Equity
Div. Yield0.77%Face Value ₹2

Strengths

  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 21.7%
  • +Company's working capital requirements have reduced from 82.4 days to 59.2 days

Weaknesses

  • −Company has a low return on equity of 13.6% over last 3 years.
  • −Earnings include an other income of Rs.260 Cr.

Shareholding Pattern

Promoters35.86%
FIIs9.62%
DIIs16.44%
Public38.1%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters35.86%35.86%35.86%35.86%35.86%35.86%35.86%35.86%
FIIs11.64%11.32%▼0.310.99%▼0.310.57%▼0.410.67%▲0.19.9%▼0.89.42%▼0.59.62%▲0.2
DIIs16.83%16.73%▼0.116.25%▼0.516.07%▼0.215.57%▼0.515.88%▲0.315.77%▼0.116.44%▲0.7
Public35.66%36.1%▲0.436.91%▲0.837.5%▲0.637.92%▲0.438.36%▲0.438.96%▲0.638.1%▼0.9

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales1,1871,2221,4011,2301,3121,1821,5951,3961,3761,599
Expenses1,0431,0891,2421,1101,2131,0531,4281,2651,2331,446
Operating Profit14413315912099129166131143153
OPM %12%11%11%10%8%11%10%9%10%10%
Net Profit165128146123146124152139187136
EPS ₹10.818.359.568.019.558.19.939.0812.228.89

AI Insights

Revenue Trend

TTM revenue at ₹5,965Cr, up 12.1% YoY. OPM at 10%.

Debt Position

Borrowings at ₹22Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Capex Cycle

CWIP at ₹303Cr (53% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 16.44% (+0.88pp change). FIIs: 9.62% (-1.63pp change). Promoters hold 35.86%.

Margin & Efficiency

ROCE declining from 20% (Mar 2014) to 16% (Mar 2025). Working capital days: 59.

Valuation

PE 25.3x with 16.2% ROCE. Price is 223% above book value of ₹314. Dividend yield: 0.77%.

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