Finolex Cables’ standalone sales for Q4FY18 increased by 12.2% yoy to Rs795.9cr from Rs709.2cr in Q4FY17. Operating profit improved by 14.1% to Rs115.4cr from Rs101.2cr in Q4FY17, while EBITDA margin increased from 14.3% in Q4FY17 to 14.5% in Q4FY18. Net profit during the quarter grew by 8.3% yoy to Rs81.8cr vs. Rs75.5cr in Q4FY17.
• Raw material cost grew by 15.5% yoy, while raw material cost in proportion to sales was up from 69.5% in Q4FY17 to 71.5% in Q4FY18.
• Other expenses decreased by 13.2% yoy, while employee cost increased by ~23% yoy.
• Other income increased sharply by 66% yoy to Rs23.6cr. However, higher tax rate of 36% in Q4FY18 vs. 26% in Q4FY17 restricted net profit growth.
• Electrical cables segment’s sales increased by 7.5% yoy to Rs648.9cr.
EBIT margin came in at 19.2% in Q4FY18 vs. 17% in Q4FY17 despite volatility in commodity prices.
• Communication cables’ sales grew by 16.6% yoy to Rs122.7cr.
EBIT margin declined from 14.6% in Q4FY17 to 10.1% in Q4FY18.
• Copper rods and others segment's sales increased by 33.9% and 19% yoy to Rs231.7cr and Rs18.9cr respectively.
Finolex Cables Ltd is currently trading at Rs. 687, up by 4.05 points or 0.59% from its previous closing of Rs. 682.95 on the BSE.
The scrip opened at Rs. 683 and has touched a high and low of Rs. 697.90 and Rs. 676.95 respectively. So far 70,034 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 100 DMA.
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