Indian Cable Manufacturers give Mixed Signals in Q3 FY 20
Cable and Wire manufacturing is one of the widest spectrum industries in India with a large unorganized sector as well as a large number of small and medium manufacturers. The Q3 results of some of the large and branded companies in the Indian Cable Industry have thrown mixed signals on state of the Industry. While some have grown with healthily rising profits, others have shown declining numbers.
Q3 FY20 vs Q3 FY19 Results Comparison of Key Cable Manufacturers
Polycab India Ltd.
Polycab is a well-renowned wire and cable manufacturer and a leading manufacturer of FMEGs. While Polycab’s net sales grew 24% to Rs 2,507 Cr during Q3 FY20 in comparison to Q3 19, net profit increased by 13.8% to Rs 221.6 Cr compared to Rs 194.6 Cr in the same quarter last year.
*Polycab India’s figures include all its business segments of which cables is the major segment.
KEI Industries Ltd.
KEI is one of the leading manufacturers of power cables along with control & instrumentation cables, house wires and stainless-steel wires. Net profit of the company grew by a whopping 50.4% to Rs 72.54 Cr in December quarter as compared to year ago on the back of a good 20.8% increase in net sales at Rs 1,314 Cr compared to corresponding quarter of the previous fiscal.
*KEI Industries’ figures include all its business segments of which cables is the major segment.
Cords Cable Industries Ltd.
Cords is a leading manufacturer of Instrumentation, Control, Specialty Cables and LV Power cables. Cords’ revenue for Q3 FY20 remained pretty flat at Rs 113.47 Cr against Rs 112.76 Cr in same quarter of last year. Net profit of the company has gone up by 7.6 percent to Rs 2.09 Cr.
Havells India Ltd.
Havells is a renowned electrical equipment manufacture. Though Havells’ net revenue for Q3 FY20 has declined by almost 10% to Rs 2,269 Cr against Rs 2,518 Crore in Q3 of last year, it’s net profit has shown a slight increase of 2% (at Rs 200 Cr) over previous year.
*Havells’ figures include all its varied business segments.
Finolex Cables Ltd.
Finolex Cables is the flagship company of Finolex Group and a leading manufacturer of electrical and telecommunication cables. The company has reported a decline of about 5% in net sales, from 768.90 Cr. in Q3 last year to Rs 728.88 Cr in Q3 FY20. At the same time Finolex has witnessed a 6.1% jump in net profit at Rs 80.63 Cr.
Paramount Communications Ltd.
The Company’s net revenue for Q3 FY20 stands at Rs 165.67 Cr, which is down by 2.3% from Rs 169.57 Cr in Q3 FY 19. Net Profit stands at Rs. 7.45 Cr in December 2019 down by a large 18.66% from Rs. 9.15 crore in December 2018.
Apar Industries Ltd.
The Power / Telecom Cable business of Apar Industries saw a decline of 6.8% and overall net sales declined by 13.07% in Q3 FY20 as compared to Q3 FY19. Net profit of the company declined by 23.53% in December Quarter compared to the Q3 of previous fiscal.
*Apar Industries’ figures include all its segments – Cables, Conductors. Oils and others
