Finolex Cables Limited shareholders approved all eight resolutions passed at the 58th Annual General Meeting held on September 28, 2026. The meeting, conducted via video conference, saw high participation with over 73% of outstanding shares voting on key matters.

The voting process was scrutinized by Jog Limaye & Associates under Section 108 of the Companies Act, 2013. Remote e-voting was available from September 24 to September 27, 2026. The company filed the consolidated scrutinizer's report with stock exchanges on September 29, 2026, pursuant to SEBI Listing Regulations.

Key resolutions and voting outcomes

Shareholders voted to adopt the audited financial statements for FY26 and declare a dividend on equity shares. The dividend resolution received near-unanimous support, with 99.99% of votes cast in favor. Re-appointments of independent directors and the whole-time director were also approved, though with slightly higher dissent in specific cases.

Promoter and public participation

The promoter group voted on all resolutions, casting approximately 54.8 million votes in favor across all items. Public institutions and non-institutional shareholders participated actively, particularly on governance-related resolutions. The total number of shareholders on the record date was 188,376.

What the numbers show

A notable divergence exists between the unanimous support for routine financial matters and the slight dissent observed in director re-appointments. While the dividend and financial statement adoption saw less than 0.2% opposition, the re-appointment of Whole-time Director Ratnakar Barve attracted the highest dissent at 1.97%. This suggests that while institutional investors largely aligned with management on standard operational approvals, a small segment of public shareholders expressed reservations regarding executive compensation or tenure terms, despite the overall strong mandate for leadership continuity.

Finolex Cables Limited reported a 19% increase in revenue from operations to ₹6,321 crore for FY26, outperforming the estimated 15-16% growth of the organised wire industry. The company also declared a dividend of ₹9 per equity share, representing 450% of the face value.

The performance was driven by strong volume growth in the Electrical business and a turnaround in the Communication Cables segment. Despite margin pressures in Q4 due to higher raw material costs and currency volatility, EBITDA grew 14% to ₹868 crore, while Profit After Tax (PAT) increased 14% to ₹623 crore. The Board recommended a dividend of ₹9 per share, reaffirming its commitment to shareholder returns.

Financial performance overview

The Chairman's speech highlighted that FY26 was a year of opportunity amidst uncertainty, with India's GDP growth estimated at 7.6%. The company maintained a leading position in the organised wire industry, supported by a network of approximately 5,000 channel partners and over 2,15,000 retailers.

Q4 recorded the highest-ever quarterly revenue of ₹1,951 crore, up 22% both year-on-year and sequentially. The moderation in profitability relative to revenue growth was attributed to higher raw material costs in the closing weeks of the year. Additionally, the company built inventory by approximately ₹300 crore to secure raw material availability, which impacted short-term operating cash flows but strengthened production continuity.

Segment performance

The Electrical Business remained the primary growth driver, recording segment revenue growth of 22% to ₹5,490 crore and EBIT up 18% to ₹563 crore. This was led by broad-based growth across power cables (21% volume growth), industrial flexible cables (17%), and auto cables (nearly 30%).

The Communication Cables Business saw a significant turnaround in the second half of the year. While full-year revenue remained broadly stable, Q4 revenue grew 32% year-on-year, and segment EBIT grew 70% for the full year as global fibre demand improved.

Strategic initiatives and future outlook

Finolex Cables invested approximately ₹240 crore in capital expenditure during FY26, including an investment in the Sumitomo joint venture, with plans for a further ₹200 crore in FY27. All investments are funded through internal accruals, supported by a cash-surplus, near-zero debt balance sheet.

Key strategic developments include:

• Optical Fibre Preform: Commissioned Phase 1 of the optical fibre preform facility, taking capacity to approximately 100 tonnes (4 million km of fibre). Phase 2 is being accelerated with an investment of ₹100 crore, which will double capacity to nearly 8 million km.
• Solar Cables: Operating close to full capacity utilisation, with an order placed for a second E-beam solar line to double capacity.
• JV Turnaround: Finolex J-Power Systems turned profitable for the first time, delivering revenue of approximately ₹450 crore and a profit of around ₹21 crore.
• Capacity Expansion: Substantially completed land acquisition in Gujarat for the next phase of capacity expansion.

What the numbers show

The divergence between revenue growth (19%) and EBITDA growth (14%) highlights the impact of raw material inflation and strategic inventory building. The deliberate decision to increase inventory by ₹300 crore served as a buffer against supply chain disruptions, prioritising operational resilience over immediate cash flow efficiency. Meanwhile, the 70% jump in Communication Cables EBIT indicates a strong recovery in that segment, suggesting it may contribute more significantly to margins in FY27 as global fibre demand stabilizes.

AGM proceedings and resolutions

The 58th Annual General Meeting was held on September 28, 2026, via Video Conferencing. Shareholders adopted the audited standalone and consolidated financial statements for FY26 and approved the dividend declaration. The meeting also covered the reappointment of directors, including Nikhil Naik retiring by rotation, and the reappointment of Independent Directors Vanessa Singh, Zubin Billimoria, and Sriraman Raghuraman. Ratnakar Barve was reappointed as Whole-Time Director for a further period of five years.