Finolex Cables Ltd (FCL) is India's largest manufacturer of electrical (80% of revenue) and telecommunication cables (16%). FCL has a wide distribution network with a high brand recall. Q1FY19 revenue and EBITDA grew by robust 17% & 18% YoY respectively, but PAT declined by 11% YoY owing to higher tax expenses. EBITDA margin improved by 10bps YoY to 16.4% led by lower cost....