Finolex Cables Q1 FY-25 Financials: Revenue up 2%, PAT Jumps 52% YoY
Finolex Cables Limited [NSE: FINCABLES, BOM: 500144], an Indian manufacturer of cables, copper rods, switchgear, and Fast-Moving Electrical Goods (FMEG) products has announced its financial results for Q1 of FY-25.
Standalone Q1 FY-25 Financial Results of Finolex Cables
Finolex Cables reported a standalone revenue of Rs. 1,230.48 crore from operations during Q1 of FY-25 and a Profit After Tax (PAT) of Rs. 122.51 crore for first quarter of FY-25.
Further, Earnings Per Share (EPS) of the company stood at Rs. 8.01 during first quarter of FY-25.
Finolex Cables’ Q1 FY-25 Consolidated Financial Figures
YoY Comparison of Finolex Cables’ Financial Performance: Q1 FY-25 vs. Q1 FY-24
During Q1 of FY-25, Finolex Cables earned a revenue of Rs. 1,230.48 crore, representing a YoY marginal increase of 2.18% from Rs. 1,204.25 crore logged as revenue for Q1 of FY-24. Further, PAT of the company stood at Rs. 243.92 crore during Q1 of FY-25 against Rs. 160.43 crore in Q1 of FY-24. This reflects a significant YoY growth of 52.04% in the company’s PAT.
Finolex Cables recorded an EPS of Rs. 15.95 during Q1 of FY-25 against Rs. 10.49 during Q1 of FY-24.
QoQ Analysis of Finolex Cables’ Financials: Q1 FY-25 vs. Q4 FY-24
On a Quarter-over-Quarter (QoQ) basis, the company’s revenue decreased by 12.17% from Rs. 1,401.02 crore clocked during Q4 of FY-24. Despite the decrease in revenue, Finolex Cables’ PAT jumped by 31.07% QoQ from Rs. 186.10 crore PAT during last quarter of FY-24.
Segment-Wise Revenue Comparison of Finolex Cables
Electrical Cables: During Q1 of FY-25, the company reported Rs. 1,031.76 crore as revenue from this segment against Rs. 1,011.49 crore earned during Q1 of FY-24. This shows a slight growth of 2% YoY.
Communication Cables: Communication cables segment of the company earned a revenue of Rs. 119.15 crore during Q1 of FY-25, representing a decrease of 12.72% YoY from Rs. 136.52 crore logged for Q1 of FY-24.
Copper Rods: Finolex Cables reported a revenue of Rs. 402.75 crore from this segment in first quarter of FY-25. This reflects a YoY increase of 5.13% from Rs. 383.09 crore, earned by the company from its copper rods business during Q1 of FY-24.
Others: This segment comprises Finolex Cables’ FMEG, switchgear, and conduit pipes businesses. Revenue from ‘Others’ segment of the company grew by 45.35% YoY to Rs. 67.56 crore in first quarter of FY-25 from Rs. 46.48 crore during Q1 of FY-24.
Ongoing CapEx Plans of Finolex Cables for FY-25
During the earnings call for its Q1 FY-25 financial results, Mr. Mahesh Viswanathan, Deputy Chief Executive Officer and Chief Financial Officer of Finolex Cables outlined the company’s current capital expenditure projects.
Mr. Viswanathan mentioned that the company is in the process of setting up a compounding plant in Goa, with the tendering process underway to finalize the contractor. He indicated that the plant is expected to be operational between May 2024 and June 2025.
Additionally, Finolex Cables is developing a preform plant in Urse, Pune, which is anticipated to commence operations between December 2024 and January 2025.
About Finolex Cables Limited: Pune-based Finolex Cables is a major Indian cable manufacturer and the flagship company of the Finolex Group. Finolex offers a wide range of Electrical and Communication cables. The company has manufacturing facilities at Pimpri and Urse in Pune, Goa, and Roorkee, Uttarakhand.