Finolex Cables Limited is engaged in the manufacturing of electrical and telecommunication cables in India. It was established as a partnership firm, ‘Indian Cable Industries’ in 1958. In 1960, It started Light Duty Cables Plant at Pimpri in Maharashtra. In 1972, the promoters of Indian Cable Industries finished the acquisition of Alpha Rubber Co., and thereafter, the company name changed to Finolex Cables Ltd. After 2 years, Indian Cable Industries was dissolved, and the business was taken over by Finolex Cables Ltd in 1974. In 1983, Finolex Cables Ltd. was listed on the stock exchange through a maiden Public Issue. It commissioned Jelly Filled Telephone Cables Plant, Pimpri, Maharashtra during the same year. In 1997, it made a strategic entry into a joint venture with AT&T and commenced an Optical Fibre Cables Plant in Urse, Maharashtra. The company continued its operational growth and started the Optical Fibre Cable Plant in Verna, Goa, in 2003. In 2011, the company made a strategic entry into a JV with Sumitomo of Japan and named it Finolex J Power Systems. During the same year, it commissioned an extra High Voltage Power Cables Plant in Shirwal, Maharashtra. In 2016, the company launched the Fans & Water Heaters Switchgear Plant in Uttarakhand. As of Q2 FY 2024, the company operates 5 manufacturing plants, 26 depots, 5,000 channel partners, 2,00,000 retailers and enjoys a 22% market share in the organised wires industry.

Business Segments

• Electrical Cables:Under this segment, the organization is engaged in the manufacturing of electrical cables. During FY 2023, it manufactured 59,082 MT cables as compared to 48,166 MT in FY 2022. During FY 2023, it derived 82% of revenue from the segment.
• Communication Cables:The organization manufactures communication cables under this segment. This segment derived ~13% of revenue in FY 2023.
• Copper Rods:Under this segment, it manufactures copper rods through its Goa plant. It generated ~1% of revenue in FY 2023.
• Others:The organization manufactures fans, heaters, etc, under this segment. This segment helped the organization to derive 4% of the revenue in FY 2023.

Subsidiary

As of March 31, 2023, the company recorded no subsidiary.

Key Personnel

Deepak K Chhabria, Executive Chairman Mr Deepak Chhabria has been with Finolex Cables Limited since its inception. He was inducted into the company in 1986. He was appointed as a Whole Time Director for a period of five (5) years in 1992. With effect from July 01, 1993, he was appointed deputy managing director for a period of five (5) years. He was promoted to Managing Director with effect from 1st July, 2000. He served as Managing Director up to June 30, 2013. He then acquired the full reins of as the Executive Chairman of the Company with effect from July 01, 2013. He holds a Bachelor of Science in Engineering Management from the University of Evansville, USA. Corporate Actions The company has no history of bonus issues, stock splits, or other corporate actions.