FINOLEX CABLES LIMITED

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FINOLEX CABLES LIMITED PRESS RELEASE

FINOLEX CABLES LTD RESULTS

Pune, February 9th, 2022

Finolex Cables Ltd., (FCL) at the meeting of its Board of Directors held today approved results for the third quarter of the financial year 2021-22.

After  a  promising  start  to  the  quarter,  continued  volatility  of  commodity  prices, increasing inflation and the fear of a third wave following the Omicron outbreak resulted in overall business sentiments being muted and volumes not picking the pace which the previous quarter had indicated.

Revenues for the quarter ended  31st   December  2021  were  Rs.972.9  Cr  as  against Rs.830.2 Cr for the corresponding period in the year 2020-21, representing a 17% growth overall. Electrical Cables & Wires showed a growth of 19%, while Communication Cables was impacted by falling fiber prices. Optic Fiber Cable volumes grew by over 80% during the quarter. New products within the FMEG sector all grew by between 44% in value.

Revenues for the nine-month period ending 31st  December 2021were Rs.2581.3 Cr as against Rs.1846.8 Cr in the corresponding period of the previous year, representing a 40% growth overall. All product lines grew in revenue during this period by upwards of 35%.

Profit for the quarter, after taxes, was Rs.95.2 Cr, as compared to Rs.82.7 Cr in the previous year, an improvement of 15%. For the nine-month period, profit after taxes, was Rs.300 Cr as against Rs.186.8 Cr in the previous year.

ABOUT FCL

Finolex Cables Limited is India’s largest and leading manufacturer  of Electrical and Communication cables.   Finolex offers a wide range of Electrical and Communication cables. Its wire and cable products are used in applications such as automobile, lighting, cable TV, telephone and computers to industrial applications touching every person in his daily life.  Finolex has added Electrical Switches, LED based Lamps, Fans, low voltage MCBs and Water Heaters to its range of products.

FINANCIAL HIGHLIGHTS+

(Rs. in crores)

 

  Quarter

Ended

31.12.21

Quarter

Ended

31.12.20

Nine Months Ended

31.12.2021

Nine Months Ended

31.12.2020

Year

Ended

31.03.202

1

Revenue from Operations

Other Income

Profit  before  Exceptional  item, Interest,

Depreciation and Tax

 

 

Deductions for:

⚫        Interest

⚫        Depreciation

 

 

Profit before Taxation

Tax Expenses

Profit After Tax

972.9

18.6

 

 

127.3

 

 

 

0.1

10.0

 

 

117.2 (22.0)

95.2

830.2

18.7

 

 

125.4

 

 

 

0.2

8.5

 

 

116.7 (34.0)

82.7

2581.3

131.9

 

 

430.5

 

 

 

0.4

29.9

 

 

400.2 (100.2)

300.0

1846.8

61.0

 

 

284.5

 

 

 

0.5

28.3

 

 

255.7 (68.9)

186.8

2768.1

76.9

 

 

431.8

 

 

 

0.7

39.0

 

 

392.1 (109.2)

282.9

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