Finolex Cables Limited — Investor Meet, 19-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Finolex Cables reported Q1 FY26 sales and PAT up ~13% YoY, with gross margins stable around 20%. Electrical segment volumes grew 16%, but margins faced pressure from a product mix shift towards lower-margin project sales, which now constitute ~40% of wire sales. Agricultural wire demand was impacted. The communication cable segment saw depressed values, awaiting BharatNet Phase 3 orders. Management anticipates demand pickup from Q3 FY26, driven by real estate project completions, expecting margin recovery in a couple of quarters. FMEG growth is below expectations, with new product releases and retail expansion planned. Overall sentiment is cautiously optimistic about future demand trends.