Finolex Cables (FINCABLES) Q4 25/26 earnings summary

Executive summary

• Q4 FY26 revenue rose 22% year-over-year and sequentially to Rs 1,951.1 Cr; full-year revenue up 19% to Rs 6,321.0 Cr, driven by strong volume expansion in Wires & Cables.

• Q4 EBITDA improved 7% YoY and 22% sequentially to Rs 236 Cr; full-year EBITDA up 14% to Rs 868 Cr, reflecting operational efficiencies.

• Q4 PAT rose 6% YoY and 19% sequentially to Rs 161.2 Cr; full-year PAT up 14% to Rs 622.9 Cr.

• Board recommended a dividend of Rs 9 per share (450%), totaling Rs 137.7 Cr for FY26.

• Middle East conflict and commodity price volatility led to higher raw material costs and rupee depreciation, pressuring margins.

Financial highlights

• Electrical segment Q4 revenue at INR 1,697 crore, up 22% YoY and 21% sequentially; full-year up 22%.

• Communication segment Q4 revenue up 30-32% YoY and sequentially; full-year flat due to earlier low fiber prices.

• Standalone EBITDA for FY26 was Rs 868.08 Cr, up from Rs 761.83 Cr in FY25.

• Cash flow from operations was INR 50 crore lower YoY due to increased inventory for risk mitigation.

• Consolidated PAT for FY26 was Rs 713.72 Cr, compared to Rs 700.77 Cr in FY25.

Outlook and guidance

• Communication segment margins expected to improve beyond current 6% EBIT as supply chain stabilizes.

• Fiber price benefits expected from Q3 as new contracts are renegotiated and capacity expansions stabilize.

• JV with Sumitomo Electric expected to improve performance with a growing order book.

• Ongoing expansion of fiber draw capacity expected to complete by Q2 FY27, boosting future revenues.

• No formal revenue or margin guidance due to ongoing geopolitical volatility.