370.75 -10.30 (-2.70%)
NSEJan 18, 2021 03:31 PM
The 3 reports from 2 analysts offering long term price targets for Finolex Cables Ltd. have an average target of 343.50. The consensus estimate represents a downside of -7.35% from the last price of 370.75.
|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2020-08-20||Finolex Cables Ltd. +||Sharekhan||299.90||360.00||299.90 (23.62%)||Target met||Buy|
Finolex Cables reported better than expected numbers during Q1FY2021 despite effectively operating for only about a month during the quarter. Its standalone revenues declined by 63% y-o-y to Rs. 377 crore (but was higher than estimate) as factory operations gradually resumed from May 20, 2020, followed by channel partners. OPM contracted by 396 bps y-o-y to 9.2% (much better than estimates) owing to a dip in gross margins (as it doled out the entire 8% target-based incentives versus the normal of 6% to channel partners to support them and strengthen long-term relationships during the quarter). A dip in revenues and OPM led to a 57% y-o-y decline in net profit to Rs....
|2020-07-01||Finolex Cables Ltd. +||Sharekhan||292.40||325.00||292.40 (26.80%)||Target met||Hold|
The revenues of Finolex Cables Limited (Finolex) declined by 20.9%y-o-y (inline with estimates) impacted mainly due to COVID-19 related disruptions (sales loss estimated at Rs 200 crore in Q4FY20). The revenue of the electrical cable segment r declined 24% y-o-y, affected by a slowdown in the industrial sectors. The communication cable segment revenue remained largely flat y-o-y, all products (barring LAN & Optic Fiber Cables) declined during the quarter by 25% to 30%. LAN and Optic fiber cable (OFC) segments grew by 40% y-o-y during the quarter, while other segments comprising fans and lightings, among others, increased by more than 20% y-o-y to Rs. 22.7crore on a...
|2020-07-01||Finolex Cables Ltd. +||Geojit BNP Paribas||292.40||327.00||292.40 (26.80%)||Target met||Accumulate|
Geojit BNP Paribas
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. Q4FY20 revenue & EBITDA de-grew by 21% & 31% YoY, but PAT grew by 38% YoY led by higher other income & lower tax....
|2019-11-20||Finolex Cables Ltd. +||Sharekhan||363.65||390.00||363.65 (1.95%)||Target met||Hold|
Finolex Cables Limited (Finolex) reported weak results for Q2FY2020. Revenue remained flat y-o-y (4% below our estimates) due to lower offtake from the automobile, industrial and communication sectors. The electrical cable segment's revenue increased by 4.6% y-o-y, affected by slowdown in the automobile and industrial sectors, while electrical wires and agri applications witnessed healthy volume growth. The communication cable segment continued to disappoint with revenue declining by 17.9% y-o-y, wherein optic fibre cable (OFC) volumes were impacted by slowdown in...
|2019-08-21||Finolex Cables Ltd. +||Sharekhan||367.95||412.00||367.95 (0.76%)||Target met||Hold|
Finolex reported weak results wherein revenues grew by merely 2.1% (6% below our estimates) due to lower volume growth of 3% y-o-y in electrical wires hit by subdued construction activity and deceleration in OFC in communication segment. EBITDA declined 18% on higher other expenses including higher promotional expenses in its fast moving electronic goods (FMEG) segment leading to contraction of 328 bps y-o-y in EBIDTA margin to 13.1%. However, due to lower ETR (31% v/s 35% in Q1FY19) the decline in PAT was restricted to 10% y-o-y to Rs...
|2019-05-30||Finolex Cables Ltd. +||Sharekhan||454.05||515.00||454.05 (-18.35%)||Hold|
(up 3.4% y-o-y), led by a marginal growth in electrical cable segment (up 6% y-o-y, over 80% of revenue) and new products (lup 10.4% y-o-y with less than 5% share) and decline in communication cable segment's revenue (down 15.4% y-o-y). Volumes in the electrical cables business grew by 18% y-o-y, while power cable volumes fell marginally. The communication...
|2019-03-28||Finolex Cables Ltd. +||Sharekhan||482.15||535.00||482.15 (-23.10%)||Hold|
Limited (FCL) is expected to witness further delay in tendering of orders in the Bharat Net phase II and the time-frame for tendering these orders is still not clear. Going ahead, the impending elections will further slow the tendering process. In the consumer durables segment, demand pick-up is still slow and management's earlier target of Rs. 100 crore...
|2019-02-21||Finolex Cables Ltd. +||Geojit BNP Paribas||374.45||410.00||374.45 (-0.99%)||Target met||Accumulate|
|2018-11-21||Finolex Cables Ltd. +||Karvy||450.00||600.00||450.00 (-17.61%)||Buy|
Volumes Impacted but Set to Recover in H2FY19: Finolex top line grew marginally by 3.8% YoY on the back of strong performance from communication cables which grew by 14.3%. The growth was lower due to tepid performance of electrical segment.
|2018-09-03||Finolex Cables Ltd. +||Geojit BNP Paribas||549.75||644.00||549.75 (-32.56%)||Buy|
Geojit BNP Paribas
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....
|2018-08-17||Finolex Cables Ltd. +||Karvy||597.05||640.00||597.05 (-37.90%)||Hold|
|2018-05-30||Finolex Cables Ltd. +||Karvy||672.90||733.00||672.90 (-44.90%)||Hold|
Volume and Revenue Growth Across Segments: Finolex top line grew by 12.2% YoY on the back of strong performance from communication cable which grew by 16.6% and electrical cable showing a growthof 7.5%.
|2018-03-06||Finolex Cables Ltd. +||Geojit BNP Paribas||699.30||769.00||699.30 (-46.98%)||Accumulate|
|2018-02-14||Finolex Cables Ltd. +||Karvy||705.00||733.00||705.00 (-47.41%)||Target met||Hold|
Margins maintained despite higher input cost: Finolex top line grew by 10.7% for 9MFY18 which was in line with expectations on the back of strong performance from communication cable which grew by 34.6%. However electrical cable segment has grown by 5.3% due to lower volumes on account of high GST rates which are now normalised.
|2017-11-21||Finolex Cables Ltd. +||Karvy||622.80||657.00||622.80 (-40.47%)||Target met||Hold|
Healthy Performance Amid Tepid Market : Finolex posted strong set of Q1FY18 numbers growing across all products and segments. Net sales for the quarter ended Sept 2017 were Rs. 6880 Mn as against Rs. 6142 Mn representing 12.0% YoY growth in value terms. The revenues have grown by 18.2% in H1FY18 when compared to respective period last year.
|2017-08-11||Finolex Cables Ltd. +||Karvy||496.40||595.00||496.40 (-25.31%)||Target met||Buy|
Strong Performance Amid Tepid Market:Finolex came out with strong set of Q1FY18 numbers growing across all products and segments amid a very tepid market due to disruption and de-stocking caused by GST roll out. Net sales for the quarter ended June 2017 were Rs. 7435 Mn as against Rs. 5966 Mn in Q1FY17 representing 24.6% YoY growth in value terms.
|2017-06-05||Finolex Cables Ltd. +||Karvy||506.00||595.00||506.00 (-26.73%)||Target met||Buy|
Strong Growth Prospects with New Product Lines Net sales for Q4FY17 were Rs. 7846 Mn as against Rs. 7119 Mn representing 10.2% YoY growth in value terms. In volume terms, there was a marginal growth in electrical cables; whereas in communication cables, there was a growth of more than 30.0%. Profit before tax for the quarter has reached Rs.1023Mn as comparedto Rs. 1140 Mn in Q4FY16 showing a decline of 10.3%.
|2016-11-29||Finolex Cables Ltd. +||Karvy||407.60||427.00||407.60 (-9.04%)||Target met||Hold|
Outshines on Lower Raw Material Prices: Net sales for Q2FY17 were Rs. 6142 Mn as against Rs. 6405 Mn for Q2FY16 representing a 4.1% YoY decline in value terms. The low growth in sales was primarily due to fall in pricing. In volume terms, however there was a 18.0% growth in Electrical cables, 2.0% growth in high voltage power cables and in communicationcables there was a growth of more than 12.0%.
|2016-07-01||Finolex Cables Ltd. +||Karvy||360.00||412.00||360.00 (2.99%)||Target met||Buy|
Standalone net sales for Q4FY16 were Rs.6807 mn as against Rs.6582 mn representing 3.4% YoY growth in value terms. The low growth in sales was primarily due to fall in commodity prices. In volume terms, however there was a 12.0% QoQ growth in Electrical cables; and in the communication cables, there was a QoQ growth of more than 20.0%. Profit before tax for Q4FY16 has reached Rs.1106mn as compared to Rs.683 mn in Q4FY15 showing a growth of 61.9%.Karvy maintain "BUY" rating for a upward revised target price of Rs.412 representing an upside potential of 20% for a 9-12 months period.
Trendlyne has 8 reports on FINCABLES updated in the last year from 3 brokers with an average target of Rs 385.5. Brokers have a rating for FINCABLES with 1 price downgrade and 1 price upgrade in past 6 months.
|2016-06-14||Finolex Cables Ltd. +||Karvy||346.00||412.00||346.00 (7.15%)||Target met||Buy|
Standalone net sales for Q4FY16 were Rs.6807 mn as against Rs.6582 mn representing 3.4% YoY growth in value terms. The low growth in sales was primarily due to fall in commodity prices. In volume terms, however there was a 12.0% QoQ growth in Electrical cables; and in the communication cables, there was a QoQ growth of more than 20.0%. Profit before tax for Q4FY16 has reached Rs.1106mn as compared to Rs.683 mn in Q4FY15 showing a growth of 61.9%.