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Finolex Cables: Rides on amalgamation

Oct 24, 2000

Finolex cables has reported a strong growth in topline. However, the results include the amalgamation of the wholly owned subsidiary - Fonram Sheets Ltd. Therefore, the results are not entirely comparable with earlier the performance.

(Rs m) 2QFY00 2QFY01 Change
Sales 1,370 1,905 39.0%
Other Income 47 46 -3.0%
Expenditure 1,096 1,528 39.4%
Operating Profit (EBDIT) 274 377 37.6%
Operating Profit Margin (%) 20.0% 19.8%  
Interest 38 56 46.5%
Depreciation 22 51 132.4%
Profit before Tax 261 316 21.0%
Tax 73 65 -11.1%
Profit after Tax/(Loss) 188 251 33.5%
Net profit margin (%) 13.7% 13.2%  
No. of Shares (eoy) 36 34  
Diluted Earnings per share* 21.9 29.2  
P/E Ratio   7.3  
* annualised      

The operating profits have increased considerably. However, operating margins have declined marginally with operating expenditure rising sharply.

At Rs 213 the company is trading on a multiple of 7.3 on 2QFY01 annualised earnings.

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