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Finolex Cables Ltd (FINCABLES)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500144 NSE: FINCABLES Cable | Small Cap | Finolex Cables Share Price
₹1,425.95 5.45 (0.38%)
As on 11-Sep'26 15:19
Finolex Cables Ltd (FINCABLES)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500144 NSE: FINCABLES Cable | Small Cap | Finolex Cables Share Price
₹1,425.95 5.45 (0.38%)
As on 11-Sep'26 15:19
Key Metrics
Valuation Multiples
Market Cap
₹21,725 Cr.
Current Price
₹1,426
52-Week Low / High
₹701 / 1,421
TTM EPS
₹52.3
TTM Sales
₹6,939 Cr.
Book Value per Share
₹411.5
P/E Ratio
27.15
Higher than its 5-year historical median
Industry PE
54
Price to Book (P/B)
3.45
Higher than its 5-year historical median
Price to Sales (P/S)
3.13
Higher than its 5-year historical median
EV/EBITDA
24.21
Higher than its 5-year historical median
Dividend Yield
0.63%
Profitability Efficiency
Return on Equity (ROE)
12.33%
Outperforms industry median
Return on Capital Employed (ROCE)
16.06%
Outperforms industry median
Return on Assets (ROA)
8.73%
Operating Profit Margin
10.1%
Net Profit Margin
11.29%
Gross Profit Margin
12.4%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
18.84%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
18.82%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
1.85%
Asset Quality
Promoter Holding
35.86%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹6,264 Cr.
Equity
₹30.6 Cr.
Face Value
₹2
All Time Low / High
₹5.05 / 1700.00
Check Before You Invest
Quality
Very GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Strong
Is Finolex Cables Ltd a good quality company?
Finolex Cables Ltd is a good quality company, based on a consistently good multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Finolex Cables Ltd performance compare with that of its Peers?
Revenue growth of Finolex Cables Ltd vs industry peers?
Finolex Cables Ltd revenue CAGR is 17.96%, compared to the industry median CAGR of 6.51%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Finolex Cables Ltd?
Promoters hold 35.86% of the Finolex Cables Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Finolex Cables Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 12.4% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Finolex Cables Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 24% | 24.8% | 23% | 19.5% | 13.9% | 17% | 18.6% | 19.1% | 16.2% | 16.7% | - |
| Value Creation Index ⓘ | 0.8 | 0.8 | 0.7 | 0.4 | 0.0 | 0.3 | 0.4 | 0.4 | 0.2 | 0.2 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 2,445 | 2,815 | 3,078 | 2,877 | 2,768 | 3,768 | 4,481 | 5,014 | 5,319 | 6,321 | 6,939 |
| Sales YoY Gr. | - | 15.2% | 9.3% | -6.5% | -3.8% | 36.1% | 18.9% | 11.9% | 6.1% | 18.8% | - |
| Adj EPS ⓘ | 21.7 | 24.2 | 23.5 | 27.9 | 19.7 | 26.9 | 33.5 | 37.7 | 36.6 | 41.6 | 46.1 |
| YoY Gr. | - | 11.5% | -3% | 18.8% | -29.4% | 36.5% | 24.7% | 12.3% | -2.9% | 13.7% | - |
| BVPS (₹) ⓘ | 122.8 | 143.4 | 159.5 | 177.8 | 192.9 | 213.4 | 242.5 | 275 | 300.7 | 333.4 | 347.8 |
| Adj Net Profit ⓘ | 332 | 370 | 359 | 427 | 301 | 411 | 513 | 576 | 559 | 636 | 705 |
| Cash Flow from Ops. ⓘ | 213 | 236 | 154 | 309 | 114 | 473 | 356 | 577 | 207 | 49.1 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 11.1% | 18% | 12.2% | 18.8% | ||||
| Adj EPS ⓘ | 7.5% | 16.1% | 7.4% | 13.7% | ||||
| BVPSⓘ | 11.7% | 11.6% | 11.2% | 10.9% | ||||
| Share Price | 13% | 23.6% | 7.1% | 69.2% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 19.1 | 18.2 | 15.5 | 16.6 | 10.6 | 13.2 | 14.7 | 14.6 | 12.7 | 13.1 | 13.5 |
| Op. Profit Mgn % ⓘ | 16.2 | 15.5 | 14.6 | 14.1 | 13.8 | 11.3 | 11.4 | 11.7 | 10 | 10.3 | 10.8 |
| Net Profit Mgn % ⓘ | 13.6 | 13.2 | 11.7 | 14.8 | 10.9 | 10.9 | 11.5 | 11.5 | 10.5 | 10.1 | 10.2 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - |
| Working Cap Days ⓘ | 85 | 90 | 99 | 118 | 183 | 185 | 207 | 210 | 189 | 176 | 105 |
| Cash Conv. Cycle ⓘ | 47 | 52 | 61 | 73 | 88 | 65 | 52 | 41 | 41 | 53 | 92 |
Valuation of Finolex Cables - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,445 | 2,815 | 3,078 | 2,877 | 2,768 | 3,768 | 4,481 | 5,014 | 5,319 | 6,321 |
| Operating Expenses ⓘ + | 2,049 | 2,380 | 2,631 | 2,494 | 2,398 | 3,343 | 3,972 | 4,426 | 4,798 | 5,702 |
| Operating Profit ⓘ | 396 | 435 | 447 | 383 | 370 | 425 | 509 | 588 | 521 | 619 |
| Operating Profit Margin (%) | 16.2% | 15.5% | 14.5% | 13.3% | 13.4% | 11.3% | 11.4% | 11.7% | 9.8% | 9.8% |
| Other Income ⓘ + | 59 | 87 | 105 | 92 | 77 | 75 | 118 | 175 | 218 | 166 |
| Interest ⓘ | 4 | 1 | 1 | 2 | 1 | 2 | 1 | 2 | 2 | 2 |
| Depreciation ⓘ | 48 | 44 | 41 | 39 | 39 | 39 | 46 | 44 | 47 | 59 |
| Profit Before Tax ⓘ | 504 | 549 | 610 | 512 | 631 | 787 | 649 | 864 | 922 | 929 |
| Tax ⓘ | 103 | 219 | 203 | 121 | 169 | 187 | 145 | 212 | 222 | 215 |
| Profit After Tax | 400 | 330 | 407 | 391 | 461 | 599 | 504 | 652 | 701 | 714 |
| PAT Margin (%) | 16.4% | 11.7% | 13.2% | 13.6% | 16.7% | 15.9% | 11.3% | 13.0% | 13.2% | 11.3% |
| Adjusted EPS (₹) | 26.2 | 21.6 | 26.6 | 25.6 | 30.2 | 39.2 | 33.0 | 42.6 | 45.8 | 46.7 |
| Dividend Payout Ratio (%) | 11.50% | 18.50% | 16.90% | 21.50% | 18.20% | 15.30% | 21.20% | 18.80% | 17.50% | 19.30% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 2,141 | 2,429 | 2,737 | 3,004 | 3,415 | 3,922 | 4,370 | 4,946 | 5,495 | 6,086 | |
| Debt + | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 188 | 177 | 208 | 159 | 176 | 190 | 209 | 234 | 242 | 222 | |
| Others Liabilities ⓘ | 110 | 177 | 208 | 244 | 295 | 382 | 1,671 | 1,782 | 2,014 | 2,294 | |
| Total Liabilities ⓘ | 2,440 | 2,784 | 3,154 | 3,407 | 3,886 | 4,494 | 6,250 | 6,963 | 7,751 | 8,603 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 415 | 409 | 404 | 387 | 394 | 380 | 435 | 445 | 583 | 848 | |
| CWIP ⓘ | 8 | 5 | 10 | 27 | 26 | 87 | 21 | 168 | 210 | 107 | |
| Investments ⓘ | 1,159 | 1,523 | 1,767 | 1,121 | 1,571 | 2,014 | 2,610 | 3,584 | 3,986 | 4,195 | |
| Inventories | 462 | 499 | 587 | 593 | 755 | 653 | 675 | 576 | 717 | 1,023 | |
| Trade Receivables | 124 | 175 | 211 | 187 | 177 | 177 | 218 | 177 | 243 | 370 | |
| Cash Equivalents | 176 | 104 | 49 | 934 | 54 | 38 | 73 | 98 | 145 | 168 | |
| Others Assets ⓘ | 95 | 69 | 126 | 158 | 909 | 1,145 | 2,219 | 1,915 | 1,866 | 1,891 | |
| Total Assets ⓘ | 2,440 | 2,784 | 3,154 | 3,407 | 3,886 | 4,494 | 6,250 | 6,963 | 7,751 | 8,603 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 213 | 236 | 154 | 309 | 114 | 473 | 356 | 577 | 207 | 49 |
| Cash Flow From Investing Activity ⓘ + | -126 | -134 | -110 | 587 | -859 | -378 | -225 | -440 | -82 | 153 |
| Cash Flow From Financing Activity ⓘ + | -75 | -57 | -75 | -86 | -86 | -87 | -97 | -112 | -128 | -129 |
| Net Cash Flow ⓘ | 11 | 44 | -30 | 810 | -831 | 8 | 35 | 26 | -3 | 73 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 20.44 | 14.45 | 15.77 | 13.62 | 14.38 | 16.33 | 12.16 | 13.99 | 13.42 | 12.33 |
| ROCE (%) | 25.6 | 24.09 | 23.65 | 17.89 | 19.68 | 21.48 | 15.69 | 18.59 | 17.7 | 16.06 |
| Asset Turnover Ratio | 1.18 | 1.1 | 1.04 | 0.88 | 0.76 | 0.9 | 0.83 | 0.76 | 0.72 | 0.77 |
| PAT to CFO Conversion(x) | 0.53 | 0.72 | 0.38 | 0.79 | 0.25 | 0.79 | 0.71 | 0.88 | 0.3 | 0.07 |
| Working Capital Days | ||||||||||
| Receivable Days | 17.10 | 18.90 | 22.90 | 25.20 | 24 | 17.10 | 16.10 | 14.40 | 14.40 | 17.70 |
| Inventory Days | 54.10 | 60.80 | 64.40 | 74.90 | 88.90 | 68.20 | 54.10 | 45.50 | 44.40 | 50.20 |
| Payable Days | 29.40 | 32.80 | 31.10 | 32.10 | 29.80 | 22.50 | 20.50 | 20.50 | 20.20 | 16.40 |
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Finolex Cables Ltd FAQs
The current trading price of Finolex Cables on 11-Sep-2026 15:19 is ₹1,426.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Sep-2026 the market cap of Finolex Cables stood at ₹21,725 Cr
The latest P/E ratio of Finolex Cables as of 10-Sep-2026 is 30.80.
The latest P/B ratio of Finolex Cables as of 10-Sep-2026 is 4.08.
The 52-week high of Finolex Cables is ₹1,420.5 and the 52-week low is ₹701.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Finolex Cables is ₹6,939 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Finolex Cables Ltd is a good quality company.
The key valuation ratios of Finolex Cables Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Finolex Cables Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing
About Finolex Cables Ltd
Established in 1958, Finolex Cables is India’s largest and leading manufacturer of electrical and telecommunication cables. It has recently diversified into the fast-moving electrical goods (FMEG) segment with the aim of becoming a complete electrical products company.
The company started its operation with the manufacture of PVC insulated electrical cables for the automobile industry. Since then, the Company has constantly endeavored to augment its product range to include PVC Insulated Industrial Cables , FR-LSH PVC Insulated Industrial Cables, PVC Insulated Single Core and Multicore Flexible Industrial Cables, Rodent Repellent Multicore Flexible Industrial Cables, PVC Insulated Winding Wires and 3 Core Flat Cables, XLPE 3 Core Flat Cables, Power and Control Cables, High Voltage Power Cables (Up to 33 kV), Polyethylene Insulated Jelly Filled Telephone Cables, Auto & Battery Cables, Co-axial and CATV cables, LAN Cables, Switchboard Cables, Fibre Optic Cables, Solar Cables and others.
Besides a wide variety of Wires & Cables, the Company is also manufacturing lighting products, electrical accessories, switchgear, fans and water heaters. The company has manufacturing facilities at Pimpri and Urse in Pune as well as at Goa & Uttarakhand. The company has, over the years, established its reputation as an innovative leader and quality manufacturer by continuously upgrading technology, modernising manufacturing facilities and maintaining highest standards of quality and services.
Today, the name Finolex has become synonymous with Quality and enjoys overwhelming confidence of the customers. Investors have also fancied its stock in view of its phenomenal progress leading to a manifold increase on investment in stock through the years.
Its long - decade journey is anchored on the pillars of its manufacturing excellence, innovation focus and technology edge. By maintaining the highest standards of quality and service, it has built a strong relationship with institutional and retail customers. It has always been striving for offering better products to market on time. For achieving this, Finolex Cables has set up four modern state-of-the-art plants. These manufacturing plants are located in Pimpri (Pune), Urse (Pune), Goa & Roorkee (Uttarakhand). All these manufacturing plants are well equipped with latest state-of-the-art modern machinery for producing quality product. All the plants are ISO 9001 certified. In addition to this, all plants are ISO 14000 certified. All the plants are equipped with the testing facilities for assuring the best quality products. All these plants are continuously upgraded to latest & modern technology for offering quality product at competitive prices. The safety records of all these plants are excellent.
Business area of the company
The Company is principally engaged in the manufacturing of Electricals Cables, Communication Cables & other electrical appliances.
Products
- Wires & Cables
- Optical Fibre Cables
- Switches
- LED Lightings
- Fan
- MCB
- Water Heater
Milestones
- 1958: The business was started as a partnership firm ‘Indian Cable Industries’.
- 1960: Light Duty Cables Plant,Pimpri, Maharashtra
- 1972: Promoters of Indian Cable Industries acquired Alpha Rubber Co. and thereafter company name changes to Finolex Cables Ltd.
- 1974: Indian Cable Industries was dissolved and the business was taken over by Finolex Cables Ltd.
- 1980: Low Voltage Power Cable Plant, Pimpri, Maharashtra
- 1983: Finolex Cables Ltd. got listed via a maiden Public Issue Jelly Filled Telephone Cables Plant, Pimpri, Maharashtra
- 1987: Technical Collaboration with NSW, Germany
- 1989: Jelly Filled Telephone Cables Plant, Urse, Maharashtra
- 1997: AT&T Finolex JV, Optical Fibre Cables Plant, Urse, Maharashtra
- 1998: Finolex Essex JV, Copper Rod Plant, Goa (Backward Integration)
- 2000: Jelly Filled Telephone Cables Plant, Verna, Goa
- 2002: Light Duty Cables Plant, Verna, Go
- 2003: Optical Fibre Cable Plant, Verna, Goa
- 2004: Manufacturing of Glass Fibre, Urse. (Backward Integration)
- 2005: Superbrand Recognition
- 2006: Switches Plant, Urse, Goa
- 2007: Lighting Products Plant, Urse, Maharashtra
- 2008: Light Duty Cables Plant, Roorkee, Uttarakhand
- 2011: Finolex J Power Systems, JV with Sumitomo of Japan, Extra High Voltage Power Cables Plant, Shirwal, Maharashtra. Corning Finolex, JV Optical Fibre Plant, Pune, Maharashtra
- 2010: Electrical Switch Plant, Uttarakhand
- 2014: 5.5 MW Solar plant, Urse
- 2016: Launched Fans & Water Heaters Switchgear Plant Uttarakhand
- 2018-19: Launched own e-retail website to address the e-commerce and online retail opportunity
- 2018-19: Launched the first of its exclusive retail store chains, ‘Finolex House’, in Chennai
- 2019-20: Opened four Finolex House Stores at Secunderabad, Jamshedpur, Bengaluru and Raipur
- 2019-20: Launched electrical wire accessories like doorbell, extension box, spike guard, angle holders, batten holders, etc. to take a share of the quality electrical products market
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