Finolex Cables Posts A Strong Performance For March 2014 Quarter
DSIJ Intelligence / 08 May 2014
Finolex Cables posted a good financial performance for the quarter ended March 2014, on the back of excellent performance of electrical cables segment.
Finolex Cables announced its March 2014 quarter results and the performance of the company has been strong on the financial front. For March 2014 quarter, the company posted a topline of Rs 649.05 crore and bottomline of Rs 69.31 crore as against Rs 632.13 crore and Rs 38.75 crore in March 2013 quarter. On the sequential basis also the performance of the company has been good as the topline for the December 2013 quarter stood at Rs 563.10 crore and bottomline at Rs 24.47 crore.
As on the yearly basis for FY14 the topline stood at Rs 2359.04 crore and the bottomline was Rs 207.55 crore as against Rs 2270.68 crore and Rs 145.27 crore in FY13.
If we take a deeper look at the performance of the company’s different segments, it was the electrical cables segment that helped the company put in a better performance. Here this segment posted a topline of Rs 563.31 crore as against Rs 546.15 crore posted in March 2013. The PBIT for the segment also increased to Rs 84.33 crore as against Rs 74.86 crore. The communication tables also witnessed good amount of traction on the margins front.
The best part of the company’s annual performance is the reduction in debt levels. The long term borrowings of the company declined to Rs 126.69 crore in FY14 against Rs 145.15 crore in FY13. As regards to the other updates, the company has commissioned the 5MW solar power plant in this quarter. Though it is a positive factor for the company, it needs to be seen how much it helps the company on saving cost. Finolex has also announced a dividend of 80% on its face value of Rs 2.
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