Finolex Cable introduced new products in FMEG segment

Finolex Cable informed the bourses on Thursday that it has introduced a fast-moving range of electrical wire accessories, such as doorbell, extension box, spike guard, angle holders, and batten holders, to satisfy the growing demand for quality electrical products.  

The company has been steadily expanding into the electrical segment with a product range that includes electric water heaters, fans, miniature circuit breakers, switches, and lighting products. It's rapid and industry-leading growth has been the outcome of a well-formulated strategy for setting up modern, well-equipped plants and regular capacity expansion in alignment with market requirements. 

Finolex first entered the electrical switches and lighting segment, leveraging its widespread distribution network in the country. The company then introduced switchgear, fans, and water heaters. New products within the FMEG sector witnessed a growth of 10 per cent YoY in FY19. 

In the second quarter of FY20, the company’s revenue was almost flat at Rs. 780.47 crores vs Rs. 772.39 crores in Q2FY19 while lower tax boosted PAT to Rs. 123.12 crores, up by 32.5 per cent YoY. 

In today’s trading session, the stock of Finolex Cable opened at Rs. 359 and went up to touch an intra-day high of Rs. 367 apiece.