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Finolex Cables jumps on launching RPVC conduits

Capital Market 

Finolex Cables advanced 2.54% to Rs 389 after the company said it added conduit and fittings to its repertoire.

The conduits are manufactured at the company's Goa plant from specially formulated μPVC to meet the Indian & International standards. These are made of high impact resistance materials which make them safe to use across varied environmental conditions. The conduits are available in 19"-32" diameters in light, medium and heavy stress specifications. Along with conduits, Finolex Cables also offers commonly used fittings like junction boxes, bends, inspection bends etc.

Finolex Cables perceives the conduit business as an opportunity to start a business relationship with the project developer at the initial stage itself, after which, wires, MCBs, switches, lighting will be required to complete the electrical requirements of a project/home. Finolex Cables has been steadily expanding into the electrical segment with a product range that includes electric water heaters, fans, switchgear, switches and lighting products. Its residential range of electrical switches, lights, fans and water heaters are gaining traction in the market. The announcement was made during market hours today, 17 February 2021.

Finolex Cables is a manufacturer of electrical and communication cables. Finolex Cables' consolidated net profit soared 43.1% to Rs 146.99 crore on a 18.2% rise in net sales to Rs 830.23 crore in Q3 FY21 over Q3 FY20.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, February 17 2021. 15:23 IST