FINCABLES

Finolex Cables share price & financials

Price
₹1,017.3
Market cap
₹20.3k Cr
Sector
Capital Goods
Calls analysed
8
Latest concall · Q1 FY27 · call held 13 Aug 2026

Finolex Cables Limited Q1 FY27

Revenue from Operations ₹2,013 cr +44%Profit After Tax ₹221 cr +60%PAT Margin 10.7%

What went well

  • Revenue from operations for Q1 FY27 stood at INR 2,013 crores, up 44.19% YoY from INR 1,396 crores in Q1 FY26.
  • Profit Before Tax (PBT) grew by 61.98% YoY to INR 277 crores from INR 171 crores in Q1 FY26.
  • Profit After Tax (PAT) grew by 59.71% YoY to INR 221 crores from INR 139 crores in Q1 FY26.

What to watch

  • Copper Rod segment reported only INR 8 crores revenue due to plant shutdown caused by LPG availability issues.
  • FMEG segment remained a 'weak link' due to supply chain issues (fuel, LPG availability) and end-of-season effects for fans.
Read the full call →

What Finolex Cables Limited does

Finolex Cables manufactures electrical wires and cables (house wiring, industrial, power and automotive cables) and telecommunication cables (optic fibre, coaxial, LAN and jelly-filled telephone cables) across five manufacturing plants in India. It has backward-integrated into producing copper rods, compounds and glass fibre preforms in-house to control raw-material availability, pricing and quality. The company has also diversified into fast-moving electrical goods (FMEG) — switches, switchgear, fans, water heaters, LED lighting, irons, smart switches and smart door locks — sold through a pan-India distribution network. It also holds a stake in a joint venture, Finolex J-Power Systems, that manufactures and executes projects for extra-high-voltage (EHV) power cables.

Segments

  • Electrical Wires and Cables
  • Communication Cables
  • Copper Rods
  • Other Products (FMEG)
Manufacturing facilities
5 plants — Roorkee (Uttarakhand); Urse and Pimpri (Pune, Maharashtra); Verna and Ponda (Goa)
Geographic presence
28 states and 8 union territories
Channel partners
5,000
Retailers
2,15,000
Depots
26
Market position
23.9% share of India's organised wire industry
Founded 1958Headquarters Pimpri, Pune, MaharashtraEmployees 1,594 (FY 2024-25) Company website

Guidance record · Q1 FY27

what the last two calls moved 17 tracked 2 delivered 4 missed 11 open
  • FMEG Breakeven Revenue delivered said Q2 FY25 Promised: Breakeven at ₹250-260 crores annual revenue in FY25 Q1 FY27: No new update provided; historical target already achieved.
  • FMEG Annual Revenue missed said Q2 FY25 Promised: ₹300 crores in FY25 Q1 FY27: No new update provided; historical target already missed.
  • Fiber Draw Capacity Expansion delayed said Q2 FY25 Promised: Expand from 4 million km to 6 million km in FY26 Q1 FY27: Management confirmed the revised timeline for expansion to 8 million km by the end of Q2 FY27. The status remains 'delayed' as the timeline was previously pushed from Q1 to Q2 FY27.

All 17 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 44.2%, net profit up 59.0% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue1,312 1,182 1,595 1,396 1,376 +5%1,599 +35%1,951 +22%2,013 +44%
EBITDA99 129 166 131 143 +44%153 +19%203 +22%248 +89%
Net profit146 124 152 139 187 +28%136 +10%161 +6%221 +59%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +68.7% 1Y

₹0.8k₹1.0k₹1.2k₹1.4kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 14 Nov 2025Q3 FY26 — 12 Feb 2026Q4 FY26 — 29 May 2026Q1 FY27 — 13 Aug 2026

1Y: ₹844.1 on 10 Sept 2025 → ₹1,424. High ₹1,424 (11 Sept 2026), low ₹710.8 (29 Jan 2026).

How the price took the results

close before → close after

Q1 FY27
−2.4%
13 Aug
Q4 FY26
−3.5%
29 May
Q3 FY26
+0.1%
12 Feb
Q2 FY26
−0.8%
14 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 12.2% a year over 3 years, FY23 to FY26. Operating margin narrowed to 10.0%.

Year endingFY23FY24FY25FY26
Revenue₹4.5k Cr₹5.0k Cr₹5.3k Cr₹6.3k Cr
Operating profit₹496 Cr₹580 Cr₹514 Cr₹630 Cr
Operating margin11.1%11.6%9.7%10.0%
Interest₹1 Cr₹1 Cr₹0 Cr₹0 Cr
Depreciation₹46 Cr₹44 Cr₹47 Cr₹60 Cr
Net profit₹503 Cr₹571 Cr₹545 Cr₹623 Cr
Net margin11.2%11.4%10.2%9.9%
Cash from operations₹356 Cr₹577 Cr₹207 Cr₹49 Cr
Free cash flow₹325 Cr₹358 Cr₹-28 Cr₹-105 Cr
ROCE19.0%19.0%16.0%17.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹31 Cr₹31 Cr₹31 Cr₹31 Cr₹31 Cr₹31 Cr
Reserves₹2.9k Cr₹3.2k Cr₹3.7k Cr₹4.2k Cr₹4.8k Cr₹5.1k Cr
Borrowings₹7 Cr₹9 Cr₹14 Cr₹18 Cr₹22 Cr₹19 Cr
Other liabilities₹294 Cr₹328 Cr₹360 Cr₹404 Cr₹613 Cr₹534 Cr
Total liabilities₹3.3k Cr₹3.6k Cr₹4.1k Cr₹4.6k Cr₹5.4k Cr₹5.7k Cr
Fixed assets₹394 Cr₹380 Cr₹435 Cr₹444 Cr₹577 Cr₹850 Cr
Capital work in progress₹26 Cr₹87 Cr₹21 Cr₹168 Cr₹303 Cr₹105 Cr
Investments₹937 Cr₹1.1k Cr₹1.7k Cr₹2.6k Cr₹3.1k Cr₹2.9k Cr
Other assets₹1.9k Cr₹2.0k Cr₹1.9k Cr₹1.4k Cr₹1.5k Cr₹1.8k Cr
Total assets₹3.3k Cr₹3.6k Cr₹4.1k Cr₹4.6k Cr₹5.4k Cr₹5.7k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +1.14 pp while FIIs trimmed −1.02 pp. The shareholder count grew 15% to 1,83,583.

Promoters
35.9%
FIIs
9.7%
DIIs
16.7%
Public
37.8%

Since Jun 2025

  • DIIs +1.14 pp
  • FIIs −1.02 pp
  • Public −0.12 pp

How it drifted, 12 quarters

Over this window FIIs fell from 11.8% to 9.7% — −2.1 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 35.9%, FIIs 11.8%, DIIs 15.6%, Public 36.7%.Dec '23: Promoters 35.9%, FIIs 11.1%, DIIs 15.9%, Public 37.1%.Mar '24: Promoters 35.9%, FIIs 11.6%, DIIs 15.9%, Public 36.6%.Jun '24: Promoters 35.9%, FIIs 11.6%, DIIs 16.8%, Public 35.7%.Sep '24: Promoters 35.9%, FIIs 11.3%, DIIs 16.7%, Public 36.1%.Dec '24: Promoters 35.9%, FIIs 11.0%, DIIs 16.3%, Public 36.9%.Mar '25: Promoters 35.9%, FIIs 10.6%, DIIs 16.1%, Public 37.5%.Jun '25: Promoters 35.9%, FIIs 10.7%, DIIs 15.6%, Public 37.9%.Sep '25: Promoters 35.9%, FIIs 9.9%, DIIs 15.9%, Public 38.4%.Dec '25: Promoters 35.9%, FIIs 9.4%, DIIs 15.8%, Public 39.0%.Mar '26: Promoters 35.9%, FIIs 9.6%, DIIs 16.4%, Public 38.1%.Jun '26: Promoters 35.9%, FIIs 9.7%, DIIs 16.7%, Public 37.8%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 2 holders trimming and 2 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Finolex Cables Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Orbit Electricals Private Limited 30.70%unchanged
Finolex Industries Limited 14.51%unchanged
HSBC mutual fund- HSBC value fund Mutual fund3.81%+0.21 pp
Anil Ramchand Chhabria 3.09%unchanged
Nippon Life India Trustee Ltd-A/C Nippon India Mul Mutual fund2.56%−0.20 pp
Tata Aia Life Insurance Co Ltd-Whole Life Mid Cap Insurer2.44%newly disclosed
Franklin India Opportunites Fund Mutual fund2.37%+0.78 pp
Lgof Global Opportunities Limited FPI fund1.88%unchanged
Gopichand Parmanand Hinduja 1.88%unchanged
Aruna Katara 1.84%unchanged
HDFC Life Insurance Company Limited Insurer1.69%−0.19 pp
HDFC Mutual Fund - HDFC Dividend Yield Fund Mutual fund1.29%newly disclosed

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in FINCABLES

Filings to Aug 2026

0 new, 5 added, 1 trimmed, 0 sold out — net +0.03 L shares (+0.0%).

Held by funds
₹680 Cr
11 schemes
Biggest holder
Nippon India Small Cap Fund
₹379 Cr · 0.5% of that fund
SchemeHoldingLast month
Nippon India Small Cap Fund Nippon India Mutual Fund₹379 Crheld
HDFC Children's Fund HDFC Mutual Fund₹153 Crheld
Nippon India Flexi Cap Fund Nippon India Mutual Fund₹65 Crheld
HDFC Dividend Yield Fund HDFC Mutual Fund₹30 Crheld
Nippon India Value Fund Nippon India Mutual Fund₹23 Crheld
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund₹15 Cr+0.01 L
SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund₹8 Cr+0.01 L
Nippon India Nifty 500 Momentum 50 Index Fund Nippon India Mutual Fund₹6 Cr+0.01 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

5 added, 1 trimmed — net +2,859 shares (+0.0%)

Funds are sitting on
+44%
vs est. average cost
Held by funds
₹680 Cr
11 schemes · ≈ 2.9% of the company
Biggest holder
Nippon India Small Cap Fund
₹379 Cr · 0.5% of that fund
Longest holder
Nippon India Nifty Smallcap 250 Index Fund
5y 11m · since Oct '20

Shares held by these funds −9%

Aug '23 58.32 L shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹1424, this stock must grow earnings at 24% every year for 7 years. Our analysis caps realistic growth at ~7%. At that growth it is worth ₹595 — downside of 58%.

Growth the price implies
24.2% a year
for 7 years, fading to 4%
It has actually compounded at
7.4% a year
net profit, FY23–FY26 · EPS 7.5%
The gap
0.2 pp
-58% downside if it only repeats history
Price today ₹1,424 Value at the reference growth ₹594.89

Change the assumptions yourself →

All earnings calls (8)

Read the Q1 FY27 call →

Learn to analyse Finolex Cables Limited

Guides on how to read this kind of business and the numbers that matter.