Buy Finolex Cables, target price Rs 1950: Anand Rathi

Anand Rathi has buy call on Finolex Cables with a target price of Rs 1950. The current market price of Finolex Cables Ltd. is Rs 1495.7.

Finolex Cables Ltd., incorporated in the year 1967, is a Mid Cap company (having a market cap of Rs 22540.20 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 31-03-2024, the company reported a Consolidated Total Income of Rs 1450.69 Crore, up 14.52 % from last quarter Total Income of Rs 1266.71 Crore and up 14.58 % from last year same quarter Total Income of Rs 1266.14 Crore. Company reported net profit after tax of Rs 135.59 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 35.92 per cent stake in the company as of 31-Mar-2024, while FIIs owned 11.58 per cent, DIIs 15.86 per cent.