Finolex Cables Limited (FINCABLES)
Large CapIndustrials stocks · Large cap · NSE
Finolex Cables Limited (FINCABLES) manufactures electrical and communication cables. The company also has a presence in other products like fans and lighting. It is headquartered in Pune, India.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Weak fundamentals, management trust is supportive, price trend is neutral, and recent execution is consistent.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 30 Jun 2026
Excellent · 90/100Rev +44% YoY · PAT +53% YoY · margin expansion · operating leverage
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹2,013 Cr | +44.2% | +3.2% |
| EBITDA | ₹244 Cr | +79.4% | +35.6% |
| Operating margin | 12.0% | +200 bps | +300 bps |
| PAT | ₹249 Cr | +52.8% | +11.2% |
| PAT margin | 12.4% | +69 bps | +89 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
Finolex Cables reported strong Q4 FY26 revenue growth of 22% YoY, driven by healthy volume expansion in Wires & Cables. EBITDA margins improved 7% YoY, with PAT up 6% YoY, despite volatile copper prices and market liquidity issues.
The company delivered solid Q4 FY26 results with robust revenue growth and improved margins, primarily driven by its Wires & Cables segment. Management successfully navigated volatile copper prices and market liquidity issues, reinforcing its market position. The transition in Communication Cables and challenges in 'Others' segment warrant monitoring.
Wires & Cables Segment Volume Expansion
Performance was driven by healthy volume expansion across key product categories in the Wires & Cables segment.
Automobile/Flexibles/Power & Control/Solar Product Lines
All major product lines – Automobile/Flexibles/Power & Control/Solar contributed strongly to the volume growth in the quarter and year as a whole.
Operational Efficiencies
We remain focused on sustaining this momentum through operational efficiencies and market expansion.
Surging Demand for Optical Fiber
Surging demand in the US and Europe around Data Centre applications for optical fiber solutions.
Market Transition to Optical Fiber
Market transitioning from traditional metal-based cables to optical fiber solutions.
Copper Price Volatility
Copper prices remained volatile throughout the year, further complicated by the war in the Middle East.
Market Liquidity Issues
Liquidity issues in the market during Q4 impacted volumes temporarily.
Restricted RM Availability for Fiber
Disruptions in Russia/Ukraine and Middle East have resulted in restricted RM availability towards year end for fiber.
Unseasonal Monsoon & BIS Norms Impact on Fans
Unseasonal and extended monsoon activity as well as revision to BIS norms impacted sales of Fans.
Commodity Price Volatility
Copper prices remained volatile throughout the year, further complicated by the war in the Middle East.
Supply Chain Disruptions
Disruptions in Russia/Ukraine and Middle East have resulted in restricted RM availability towards year end for fiber.
Market Liquidity
Liquidity issues in the market during Q4 impacted volumes temporarily.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Both YoY and QoQ comparisons are relevant. YoY shows underlying business growth and seasonal trends, while QoQ highlights sequential momentum, operating leverage, and recent market dynamics, especially in a volatile environment.
Revenue from Operations
Q4 FY26 Revenue at Rs. 1,951 Cr, a strong 22% year-on-year growth.
EBITDA
Q4 FY26 EBITDA at Rs. 236 Cr, up 7% Y-o-Y and 22% Q-o-Q. EBITDA margins improved by 7% YoY.
PAT
Q4 FY26 PAT stood at Rs. 161 Cr, marking a 6% YoY growth and 19% Q-o-Q growth.
Receivable Days
Receivable Days increased to 17 in Q4 FY26 from 14 in Q4 FY25.
Focus on Sustaining Momentum
We remain focused on sustaining this momentum through operational efficiencies and market expansion.
Reinforced Market Position
Positive trends across key product categories have reinforced our market position and demonstrate the effectiveness of our strategic initiatives.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Wires & Cables Volume Growth | Healthy volume expansion across key product categories. | Sustained volume growth and market share gains in core Wires & Cables segment. |
| EBITDA Margins | Improved by 7% YoY, 22% QoQ. | Ability to maintain or further expand margins amidst commodity price volatility and market competition. |
| Communication Cable Segment Performance | Market transitioning to optical fiber; fiber prices hardening in H2 FY26. | Successful navigation of market transition and impact of raw material availability and pricing on profitability. |
| Working Capital Management | Receivable Days and Inventory Days increased, Payable Days decreased. | Improvement in working capital cycle, particularly receivable and inventory days, to optimize cash flow. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
58NeutralSMA20 +24.7% / mo · MACD −
Technical chart
FINCABLESdaily · 1Y · AUTO+32.9%Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 52. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~19.8% over last month) — short-term momentum positive.
- RSI(14) at 52 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 11% off 52W high · 74% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Relative Strength & Trend Stage
- Price is 20.7% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +7.3%.
- Both 3-month and 6-month returns are positive.
Valuation & score drivers
U-Score 40 · WATCHLIST · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 40 · WATCHLIST · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
WATCHLISTWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 8/9.
- Cash flow contributes 7/10 to the score.
- Balance sheet contributes 9/15 to the score.
Main drags
- Valuation is weaker at 4/30; verify the latest quarterly trend.
- Quality is weaker at 5/20; verify the latest quarterly trend.
- Growth is weaker at 10/25; verify the latest quarterly trend.
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +3 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Claim history is still being built. It ranks around the 94th percentile of the scored universe and 95th percentile within Industrials. No major sub-score weakness stands out.
High Trust Lite: Promoter pledge is zero.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · Industrials: 95th pctile, median 68 · Large: 86th pctile, median 73
69 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 1.1%.
- ▸10 years of positive FCF.
- ▸Debt/equity is 0.00.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 23.30
- P/B
- 3.07
- EV/EBITDA
- 23.53
- Market Cap
- 18662.00Cr
Profitability
- ROE
- 12.30%
- ROCE
- 16.00%
- ROA
- 11.44%
- Dividend Y
- 0.74%
Growth (CAGR)
- Revenue 5Y
- 18.00%
- EPS 5Y
- 9.00%
- Revenue 3Y
- 12.00%
- EPS 3Y
- 12.00%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- 363.50×
- Altman Z
- 8.86
- Book Value
- 398.00
Cash Flow
- FCF Yield
- 1.08%
- FCF Positive Y
- 10/5
- OCF
- 49.00 Cr
- EPS TTM
- 52.31
Shareholding
- Promoter Hold
- 35.86%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 77%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable names in Industrials, ranked by similarity
Peers
Business-comparable names in Industrials, ranked by similarity
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.