Sharekhan recommended Hold rating on Finolex Cables with a target price of Rs 515 in its research report dated May 30, 2019.
Sharekhan's research report on Finolex Cables
In Q4FY2019, Finolex Cables Limited (FCL)’s net earnings were affected by muted growth in electrical cables segment and a higher effective tax rate. Operating margins improved on the back of lower employee costs and other expenses. We believe slow order finalisation in communication cables segment and delay in scale-up of consumer durable business would continue to limit revenue growth during FY2020-FY2021.
Outlook
We reiterate our Hold rating with a revised PT of Rs. 515, on account of slower finalization of orders in communication cables segment and delay in scaling up of the consumer durable business.
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