Accumulate Finolex Cables, target price Rs 1108: Geojit

Finolex Cables Ltd., incorporated in the year 1967, is a Mid Cap company (having a market cap of Rs 15095.11 Crore) operating in Consumer Durables sector.

By ETMarkets.com | Updated: Dec 01, 2023, 11.31 AM IST

Promoters held 35.92 per cent stake in the company as of 30-Sep-2023, while FIIs owned 11.77 per cent, DIIs 15.57 per cent.

Geojit has accumulate call on Finolex Cables with a target price of Rs 1108. The current market price of Finolex Cables Ltd. is Rs 989.

Finolex Cables Ltd., incorporated in the year 1967, is a Mid Cap company (having a market cap of Rs 15095.11 Crore) operating in Consumer Durables sector.

Finolex Cables Ltd. key Products/Revenue Segments include Electrical Cables, Cables, Others, Scrap and Copper Rods for the year ending 31-Mar-2023.

Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 1229.27 Crore, down -1.11 % from last quarter Total Income of Rs 1243.06 Crore and up 10.09 % from last year same quarter Total Income of Rs 1116.61 Crore. Company reported net profit after tax of Rs 124.37 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 35.92 per cent stake in the company as of 30-Sep-2023, while FIIs owned 11.77 per cent, DIIs 15.57 per cent.

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