Sharekhan has given Buy recommendation for Finolex Cables with a target price of Rs. 581 in its research report issued on Aug 17, 2022

Sharekhan’s research report on Finolex Cables

Finolex reported healthy performance, backed by robust volumes in electrical wires (24% y-o-y) despite a challenging environment and intense competition. We expect robust demand from sectors such as real estate, auto, and industrials for its wires and cables business. Further, scalability in power cables and FMEG would boost revenue and earnings growth. Scope of margin improvement, healthy operating cash flow generation, tight working capital management, and limited capex requirements give us further comfort.


We retain our Buy rating on Finolex Cables Limited (Finolex) with a revised PT of Rs. 581, given compelling valuations and strong long-term growth prospects.

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