FINCABLES · Capital Goods
Finolex Cables Ltd. reported revenue of ₹1,595 cr for January to March 2025, +13.8% on the year and +34.9% on the quarter. It is the highest quarterly revenue in the last 8 quarters on record. Over the last four quarters revenue comes to ₹5,319 cr, +6.1% on the four before.
Operating profit (EBITDA) was ₹171 cr, a margin of 10.7%, −84 bps on the year and −95 bps on the quarter. Over the last 8 quarters the margin has ranged from 8.1% to 12.3%, averaging 11.0%. Operating costs grew +14.9%, faster than revenue at +13.8%, so operating profit grew less than sales.
Net profit was ₹192 cr, +3.2% on the year and +30.6% on the quarter, with earnings per share of ₹12.54. Profit before other income, one-offs and tax grew 4.7%, so the profit growth came from the business itself. The tax rate of 27% is in line with its recent average. Profit over the last four quarters totals ₹701 cr, +7.7% on the four before.
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 ₹45.83 over the last four quarters, the stock at ₹1,232.40 trades at 26.9 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, 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, 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.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| 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 ₹1,595 cr (+13.8% on the year) and net profit of ₹192 cr (+3.2% on the year) for January to March 2025.
Profit before other income, exceptional items and tax moved +4.7% on the year, against +3.2% for reported profit.
None of the 7 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.