Finolex Cables Limited
NSE Symbol FINCABLES
Ø
FINOLEX CABLES
has declared results for Q3 FY 2012 ending Dec,2011. The Q3 FY 2012 results are compared
in percentage terms with the first 2 quarters of FY 2012 and with Q3 FY 2011, the corresponding qtr of last
year. The absolute figures and percentages are given in the Results table below
:
Ø
Net Sales stands at Rs.492.90 cr – down by -0.09% from Q2 FY 12; up by 9.28% from Q1
FY 12; and down by -2.46% from Q3 FY 11. The reduction in sales reveals the
market trend in general for cables.
Ø
While
sale of Electrical cables grew 21%;(against corresponding qtr); sale of
communication cables as well as copper rods declined by 23% and 52%
respectively. The lower sales of Communication cables reflects current market
realities in telecom sector; while copper rods segment faces tough competition.
Ø
Finolex
has approved investment of Rs.80 Cr towards increase / rebalancing of
capacities at Roorkee and Urse – over next 2 Financial years.
Ø
Raw Materials
consumption stands
at Rs.325.27 cr – down by -11.41% from Q2 FY 12; down by -16.66% from q1 FY 12;
and down by -14.94% from Q3 FY 11.
Ø
Total Expenditure stands at Rs.470.98 cr – up by 0.45%
from Q2 FY 12; up by 8.01% from Q1 FY 12;
and down by -0.14% from Q3 FY 11.
Ø
Profit from Operations stands at Rs.28.49 cr – down by -5.47%
from Q2 FY 12; up by 15.67% from Q1 FY 12; and down by -30.55% from Q3 FY 11.At
operational level itself, profit is down in preceding and corresponding qtrs
Ø
Other Income stands at Rs.3.98 cr – down by -76.08%
from Q2 FY 12; down by -38.01% from q1 FY 12; and up by 218.4% from Q3 FY 11.
Other Income also is down in previous 2 qtrs though up from corresponding Qtr.
Ø
Interest stands at Rs.8.06 cr – up by 53.82%
from Q2 FY 12; down by 85.71% from Q1 FY 12; and up by 60.88% from Q3 FY 11.
Interest expense has increased in previous and corresponding Qtrs.
Ø
Exceptional Items expense stands at Rs.7.90 cr – down by -51.95%
from Q2 FY 12; up by 311.46% from Q1 FY 12; and up by 15.84% from Q3 FY 11.
Ø
Profit before tax stands at Rs.16.51 cr – down by -34.22% from Q2 FY 12;
down by -33.4% from Q1 FY 12; and down by -45.76% from Q3 FY 11. It is down in
all three compared quarters.
Ø
Tax expense
stands at Rs.2.81Cr – down by -47.67%
from Q2 FY 12; down by -38.65% from Q1 FY 12; and down by -33.88% from Q3 FY 11.
Ø
Net Profit stands at Rs.13.70 Cr down by -30.56%
from Q2 FY 12; down by -32.21% from Q1 FY 12;
and down by -47.69% from Q3 FY 11. Thus, the current qtrly result has
fared poorly in comparison to the preceding quarters and the corresponding qtr
as well.
Ø
Paid Up Equity is Rs.30.59 cr
Ø
On
a Face value
of Rs.2. the Basic
EPS stands at Rs. 0.9in Q3 FY 12; Rs.1.29 in Q2 FY 12; Rs.1.3 in Q1
FY 12; and Rs.1.71 in Q3 FY 11.
Ø
The
annual EPS
is therefore likely to be around Rs.5.
Ø
The
current
Market price is Rs.33.85 ; and the 52 week high price is Rs.57.25 and the 52 week low price is
Rs.22.75.
Ø
The
PE Ratio
is 6.77
RESULTS TABLE
|
FINOLEX CABLES
|
31-Dec-11
|
30-Sep-11
|
%dif1
|
30-Jun-11
|
%dif2
|
31-Dec-10
|
%dif3
|
|
Net Sales
|
49290
|
49334
|
-0.09
|
45106
|
9.28
|
50532
|
-2.46
|
|
Other Operating Income
|
657
|
567
|
15.87
|
964
|
-31.85
|
735
|
-10.61
|
|
Increase in SIT / WIP
|
6298
|
1987
|
217
|
-2573
|
-344.8
|
2022
|
211.47
|
|
Raw Materials
|
32527
|
36718
|
-11.41
|
39027
|
-16.66
|
38238
|
-14.94
|
|
Traded Goods
|
63
|
72
|
-12.5
|
57
|
10.53
|
81
|
-22.22
|
|
Employees Cost
|
1731
|
1723
|
0.46
|
1642
|
5.42
|
1600
|
8.19
|
|
Depreciation
|
1282
|
969
|
32.3
|
982
|
30.55
|
983
|
30.42
|
|
Other Expenditure
|
5197
|
5418
|
-4.08
|
4472
|
16.21
|
4241
|
22.54
|
|
Total Expenditure
|
47098
|
46887
|
0.45
|
43607
|
8.01
|
47165
|
-0.14
|
|
Profit from Operations
|
2849
|
3014
|
-5.47
|
2463
|
15.67
|
4102
|
-30.55
|
|
Other Income
|
398
|
1664
|
-76.08
|
642
|
-38.01
|
125
|
218.4
|
|
Interest
|
806
|
524
|
53.82
|
434
|
85.71
|
501
|
60.88
|
|
Exceptional Items
|
790
|
1644
|
-51.95
|
192
|
311.46
|
682
|
15.84
|
|
Profit before tax
|
1651
|
2510
|
-34.22
|
2479
|
-33.4
|
3044
|
-45.76
|
|
Tax expense
|
281
|
537
|
-47.67
|
458
|
-38.65
|
425
|
-33.88
|
|
Net Profit
|
1370
|
1973
|
-30.56
|
2021
|
-32.21
|
2619
|
-47.69
|
|
Face Value (In Rs
|
2
|
2
|
0
|
2
|
0
|
2
|
0
|
|
Paid Up Eq
|
3059
|
3059
|
0
|
3059
|
0
|
3059
|
0
|
|
Basic EPS
|
0.9
|
1.29
|
-30.23
|
1.3
|
-30.77
|
1.71
|
-47.37
|
|
Public Holding (%)
|
64.35
|
64.58
|
-0.36
|
64.87
|
-0.8
|
64.87
|
-0.8
|
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