Mahesh Viswanathan
Chief Financial Officer, Finolex Cables Limited
In Q4FY23, the company’s revenue surged by 3 per cent on year-on-year (YoY) basis while the net profit zoomed more than 37 per cent from the corresponding quarter last year. What were the contributing factors to the company’s performance?
Whereas the comparable revenue increased by 3 per cent YoY, profitability improved from volume-led growth both in electrical and communication cables, pricing actions in electrical cables and improved performance in communication cables.
At the moment, what are your top three strategic priorities?
In the established wire and cable business the focus has been to increase the sales volume of our products while mitigating input cost pressures by relying on pricing action. This strategy has helped us to expand our market share, strengthen our customer loyalty and enhance our brand reputation. We are always looking for new opportunities to grow and innovate. That is why we are looking to market and achieve product penetration of our new businesses of fans, lights, water heaters, conduits, switches, switch gear, etc. We are constantly exploring adjacent segments like home appliances where we can leverage our core competencies.
This story is from the August 14, 2023 edition of Dalal Street Investment Journal.
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This story is from the August 14, 2023 edition of Dalal Street Investment Journal.
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