FINCABLES · Capital Goods
Finolex Cables Ltd. reported revenue of ₹1,182 cr for October to December 2024, −3.3% on the year and −9.9% on the quarter.
Operating profit (EBITDA) was ₹138 cr, a margin of 11.7%, +71 bps on the year and +360 bps on the quarter. Over the last 7 quarters the margin has ranged from 8.1% to 12.3%, averaging 11.0%. Operating costs grew −4.0% against revenue growth of −3.3%, so more of each rupee of sales reached operating profit.
Net profit was ₹147 cr, −2.6% on the year and +24.6% on the quarter, with earnings per share of ₹9.63. Profit before other income, one-offs and tax grew faster, at +2.4%; other income, one-offs or tax held the headline back. The tax rate of 24% is in line with its recent average.
Capital goods and EPC revenue follows project execution, which makes quarters uneven; the order book and new orders tell more about the year than one quarter does. The quarterly statements do not carry the order book, new orders and working capital; those come with the filing read.
On earnings per share of ₹45.46 over the last four quarters, the stock at ₹1,232.40 trades at 27.1 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Finance cost rising, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,187 cr | ₹1,222 cr | ₹1,401 cr | ₹1,230 cr | ₹1,312 cr | ₹1,182 cr | ₹1,595 cr | ₹1,396 cr | ₹1,376 cr | ₹1,599 cr | ₹1,951 cr | ₹2,013 cr |
| YoY | — | — | — | +2% | +11% | −3% | +14% | +13% | +5% | +35% | +22% | +44% |
| EBITDA margin | 12.3% | 11.0% | 11.6% | 10.3% | 8.1% | 11.7% | 10.7% | 9.7% | 10.5% | 9.9% | 9.2% | 12.1% |
| Other income, % of PBT | 35% | 38% | 40% | 64% | 38% | 35% | 40% | 39% | 37% | 34% | 46% | 29% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 25% | 24% | 25% | 23% | 22% | 24% | 27% | 20% | 21% | 24% | 26% | 21% |
| Net profit | ₹154 cr | ₹151 cr | ₹186 cr | ₹244 cr | ₹118 cr | ₹147 cr | ₹192 cr | ₹163 cr | ₹163 cr | ₹164 cr | ₹224 cr | ₹249 cr |
| YoY | — | — | — | +52% | −23% | −3% | +3% | −33% | +38% | +12% | +17% | +53% |
| Core profit YoY | — | — | — | −15% | −30% | +2% | +5% | +6% | +38% | +13% | +4% | +80% |
| EPS | ₹10.08 | ₹9.87 | ₹12.17 | ₹15.95 | ₹7.71 | ₹9.63 | ₹12.54 | ₹10.63 | ₹10.63 | ₹10.73 | ₹14.67 | ₹16.28 |
| Flags | 1 | 1 | 1 | 2 | 1 | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Finolex Cables Ltd. reported revenue of ₹1,182 cr (−3.3% on the year) and net profit of ₹147 cr (−2.6% on the year) for October to December 2024.
Profit before other income, exceptional items and tax moved +2.4% on the year, against −2.6% for reported profit.
None of the 6 checks that could run raised a question.
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Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.