Review

FINOLEX CABLES LTD.

Ticker :500144
FV : Rs 2
52-Week H/L : Rs 426.45/165.00

We had previously recommended Finolex Cables Ltd in vol- ume 37, issue no. 19, dated March 1, 2021, when the scrip was trading at Rs 407.60. We had recommended the stock on the basis of predicted strong growth in the company's operations as well as the sector. On a consolidated quarterly front, the company reported net sales of Rs 830.23 crore for Q3FY21, which is an increase of 18.21 per cent from its net sales of Rs 702.36 crore reported for Q3FY20. The operating profit rose by 1.15 per cent to Rs 127.86 crore in Q3FY21 from Rs 126.41 crore posted in Q3FY20. The company regis- tered declined net profit of Rs 64.04 crore in Q3FY21 as com- pared to the net profit of Rs 83.29 crore in Q3FY20. RecentlyFinolex Cables has introduced a new products to strengthen its FMEG portfolio. The company endeavors to introduce a range of new products across segments to give a boost to the compa- ny’s operations. Hence, we recommend HOLD.