Buy Finolex Cables; target of Rs 975: Anand Rathi

Anand Rathi's research report on Finolex Cables

Finolex Cables delivered a decent performance in Q2 FY26. Despite a modest top-line expansion, its EBITDA and PAT saw strong growth, aided by healthy industrial and solar cable demand. Communication cables business remained soft, but the upcoming preform and fibre-draw facilities position it for margin expansion, as fibre prices stabilise.

Outlook

With improving demand visibility in H2 FY26, new FMEG launches, and a robust balance sheet, Finolex is well-placed for sustained earnings growth. Thus, we maintain BUY on the stock with a 12-mth TP of Rs 975.

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