While peers were busy flexing double-digit growth on LinkedIn, Finolex Cables calmly showed up with… 5%. Yes, five. No typo.
But before you roll your eyes and scroll away, management quietly slipped in a 26% EBITDA jump. Turns out, when volumes snooze, margins do the heavy lifting.
Monsoons overstayed their welcome, BharatNet ghosted again, and fiber prices refused to cooperate. Yet profits showed up—fashionably early.
This concall wasn’t about chest-thumping growth stories. It was about cost discipline, brand confidence, and waiting patiently while others sprint.
Read on. Because beneath the “muted topline” narrative, there’s a company playing a longer, calmer game. 😏
2. At a Glance
Revenue up 5% (Q2) – Growth took a rain check, literally.
EBITDA up 26% – Margins said, “Fine, I’ll do it myself.”
PAT up 35% – Profit quietly outperformed expectations.
Wires & cables +8% – Respectable, but not headline material.
Ad spend ₹20 Cr – Brand defence mode: activated.
3. Management’s Key Commentary
“Revenue growth was modest compared to peers.” (Translation: Yes, we saw the peer numbers too.) 😏
“Prolonged monsoon hit agriculture demand.” (Translation: Too much rain, not enough wires.)
“Cable volumes grew nearly 60%.” (Translation: Small base, big jump, don’t extrapolate wildly.)
“We took a 3–3.5% price hike in September.” (Translation: Commodity volatility made us blink.)
“BharatNet has not contributed meaningfully yet.” (Translation: Still waiting by the phone.) 📞
“Working capital is just over a month.” (Translation: Balance sheet remains annoyingly clean.)
“Preform plant ready, trials to begin shortly.” (Translation: Margin hopes loading… slowly.)
