FINCABLES

Q4 numbers were a mixed bag with revenues rising 13.8%, but OPM declining to 10.7% from 11.6%. Margins were impacted by volatility in commodity prices and a change in product mix. Segment wise – Electric cables/communication cables/copper rods/FMEG reported revenues of Rs. 1,391/123/482/65 crore, with a growth of 16%/-4.0%/0%/2% y-o-y. Finolex has spent Rs 236 crore in FY25 and looks to further incur ~Rs 150 crore in FY26. The e-beam facility is commissioned in FY25 and two new products for the solar and real estate have been introduced. Finolex has a leadership position and is a strong brand in the cables & wires (C&W) segment. In the long term, optic fiber cables should do well, as India remains underpenetrated in the segment.