Finolex Cables Limited (IN:FINCABLES)
:FINCABLES
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Finolex Cables Limited
(FINCABLES)
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Rating:68Neutral
Price Target:
₹1,078.00
▲(14.24% Upside)
Action:Reiterated
Date:06/02/26
The score is driven primarily by strong financial stability (very low debt) and steady revenue growth, offset by a meaningful deterioration in cash generation (negative free cash flow in FY2025–FY2026). Technicals are supportive but show some near-term cooling, and valuation is reasonable but not especially cheap with a modest dividend yield.
Positive Factors
Strong balance sheet / very low leverage
Extremely low debt and rising equity/assets provide durable financial flexibility, lowering refinancing and solvency risk. This supports investment in capacity, distribution and capex when needed, and cushions the business through commodity cycles and construction demand variability.
Negative Factors
Deteriorating free cash flow
A recent and worsening shift to negative FCF reduces internal funding for capex, dividends or strategic moves. Even with solid reported profits, prolonged negative cash conversion can force external financing, constrain growth initiatives, and raise questions about earnings quality.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet / very low leverage
Extremely low debt and rising equity/assets provide durable financial flexibility, lowering refinancing and solvency risk. This supports investment in capacity, distribution and capex when needed, and cushions the business through commodity cycles and construction demand variability.
Read all positive factors
Finolex Cables Limited (FINCABLES) vs. iShares MSCI India ETF (INDA)
Market Cap
₹154.94B
Dividend Yield1.04%
Average Volume (3M)12.88K
Price to Earnings (P/E)22.2
Beta (1Y)1.32
Revenue Growth18.84%
EPS Growth1.84%
CountryIN
Employees1,576
SectorBasic Materials
Sector Strength58
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)43.42
Shares Outstanding152,939,350
10 Day Avg. Volume14,706
30 Day Avg. Volume12,882
Financial Highlights & Ratios
PEG Ratio8.97
Price to Book (P/B)1.95
Price to Sales (P/S)1.88
P/FCF Ratio-121.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹1,200.00Price Target Upside27.17% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)48.02
Revenue Forecast (FY)₹69.83B
Finolex Cables Limited Business Overview & Revenue Model
Company Description
Founded in Pune, India, in 1958, Finolex Cables Limited specializes in the production and distribution of an extensive range of electrical and communication cables, alongside various electrical appliances. While primarily serving the Indian market...
How the Company Makes Money
Finolex Cables makes money primarily by manufacturing and selling wires and cables and, secondarily, by selling electrical consumer electrical (FMEG/consumer durables) products.
Key revenue streams:
1) Wires and cables (core business): Revenue is...
Finolex Cables Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
92
Very Positive
Cash Flow
41
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 55.48B | 63.21B | 53.19B | 50.14B | 44.81B | 37.68B |
| Gross Profit | 10.91B | 9.09B | 10.16B | 10.57B | 9.24B | 7.90B |
| EBITDA | 6.58B | 9.30B | 5.35B | 5.84B | 5.02B | 4.24B |
| Net Income | 6.64B | 7.14B | 7.01B | 6.52B | 5.04B | 5.99B |
Balance Sheet | ||||||
| Total Assets | 66.57B | 69.90B | 62.87B | 56.35B | 49.80B | 44.94B |
| Cash, Cash Equivalents and Short-Term Investments | 28.59B | 20.43B | 27.83B | 26.78B | 21.55B | 17.83B |
| Total Debt | 215.20M | 191.40M | 199.90M | 180.60M | 138.90M | 91.00M |
| Total Liabilities | 9.54B | 9.04B | 7.91B | 6.89B | 6.10B | 5.72B |
| Stockholders Equity | 57.03B | 60.86B | 54.95B | 49.46B | 43.70B | 39.22B |
Cash Flow | ||||||
| Free Cash Flow | 318.10M | -976.40M | -291.80M | 3.58B | 3.25B | 4.06B |
| Operating Cash Flow | 1.42B | 1.45B | 2.07B | 5.77B | 3.56B | 4.73B |
| Investing Cash Flow | -1.80B | 553.90M | -820.90M | -4.40B | -2.25B | -3.78B |
| Financing Cash Flow | -33.30M | -1.27B | -1.28B | -1.12B | -966.50M | -869.20M |
Finolex Cables Limited Technical Analysis
Positive
943.60
Price Trends
990.34
Positive
902.56
Positive
848.02
Positive
Market Momentum
2.24
Positive
50.89
Neutral
36.59
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:FINCABLES, the sentiment is Positive. The current price of 943.6 is below the 20-day moving average (MA) of 1044.04, below the 50-day MA of 990.34, and above the 200-day MA of 848.02, indicating a neutral trend. The MACD of 2.24 indicates Positive momentum. The RSI at 50.89 is Neutral, neither overbought nor oversold. The STOCH value of 36.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:FINCABLES.
Finolex Cables Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ₹79.60B | 11.80 | ― | 1.82% | -11.28% | -9.81% | |
70 Outperform | ₹143.15B | 15.62 | ― | 1.18% | -14.08% | -44.02% | |
69 Neutral | ₹104.67B | 17.84 | ― | 1.19% | -0.69% | -25.08% | |
68 Neutral | ₹154.94B | 22.20 | ― | 1.04% | 18.84% | 1.84% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | ₹29.92B | 41.87 | ― | 0.20% | 2.95% | 74.29% | |
54 Neutral | ₹109.34B | 57.88 | ― | 1.94% | -2.56% | -54.89% |
* Basic Materials Sector Average
IN:FINCABLES
Finolex Cables Limited
1,035.20
79.60
8.33%
IN:FINPIPE
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IN:JINDALSAW
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IN:PCBL
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IN:PRINCEPIPE
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Finolex Cables Limited Corporate Events
Finolex Cables to Appeal Rs 29.46 Crore GST Demand Order
Apr 1, 2026
Finolex Cables Limited has disclosed that the Additional Commissioner of Central GST in Dehradun has confirmed a tax demand arising from a show cause notice over alleged input tax credit mismatches, e-way bill discrepancies and late payments to cr...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.