FINOLEX CABLES LTD RESULTS
New Delhi, May 29, 2019 :- Finolex Cables Ltd., (FCL) at the meeting of its Board of Directors held today approved results for the fourth quarter as well as the full year of 2018-19.
Revenues for the quarter ended March 2019 were Rs.8216.9 million as against Rs.7992.0 million for the corresponding period in year 2017-18 representing a 3% growth in value terms. In volume terms, all Electrical Wires grew by18%, while Power Cables de-grew marginally. Within Communication Cables segment, volumes in Optic Fiber
Cables de-grew owing to delays in orders from both the Government sector as well as sluggishness from Private Telecom Companies. Other Communication products which are sold through dealer network, however, saw volume growth of over 15%. New products within the FMEG sector all grew by more than 10% each. The positive impact of GST is quite visible now.
For the full year 2018-19, sales were Rs 30825.8 million as against Rs 29028.4 million in the previous year with a 6% revenue growth. Except for Power Cables and Optic Fiber Cables, all other product lines showed a healthy volume growth.
Newer product lines (Fans, Switchgear and Water Heaters) have all grown. Addition to product range, expansion of distribution network, continued presence in visual media have all contributed to the Finolex brand recognition within these product segments.
Profit for the quarter, before taxes, was Rs.1399.4 million, as compared to Rs.1276.8 million in the previous year – growth of 10%.
For the full year, profit before taxes improved to Rs 5318.6 million from Rs 5044.8 million in the previous year – a growth of 5.5%.
At a PAT level, PAT for Q4 of 2018-19 stood at Rs 849.0 million as against Rs 817.6 million for the corresponding period of the previous year – a growth of 4%.
For the full year, profit after taxes were Rs 3440.9 million as against Rs 3582.0 million in the previous year – the reduction due to cessation of fiscal benefits at Roorkee.
Based on the performance, the Board has recommended a dividend of 225% for the year.
For the year ended 31st March 2019, the consolidated results reflect net sales of Rs 30825.8 million as against Rs 29028.4 million in the previous year and Profit Before Taxes of Rs 6102.2 million as against Rs 5491.4 million in the previous year.
ABOUT FCL
Finolex Cables Limited is India's largest and leading manufacturer of Electrical and Communication cables. Finolex offers a wide range of Electrical and Communication cables. Its wire and cable products are used in applications such as automobile, lighting, cable TV, telephone and computers to industrial applications touching every person in his daily life. In recent years, Finolex has added Electrical Switches, LED based Lamps, Fans, low voltage MCBs and a range of Water Heaters to its product portfolio.
Statement From Madhavan Menon, Chairman & Managing Director Of Thomas Cook (India) Ltd
Mumbai, July10, 2019: In light of recent challenges in the aviation sector and the perceived impact on the Travel & Tourism industry, Mr.Madhavan Menon, Chairman and Managing Director, Thomas Cook (India) Ltd. stated:
1. Cash and bank deposits balance of the Thomas Cook India Group (consolidated level) is at Rs. 10588 Mn. as of March 31, 2019.
2. On a standalone basis Thomas Cook India is debt free upon pre-payment of Rs. 670 Mn debenture obligations ahead of schedule. This has been made possible using stable and strong cash flows that the Thomas Cook India Group is generating year over year. Group generates an annual free cash flow of around Rs. 2000-2500 Mn.
3. As earlier reported, for the Financial Year ended March 31, 2019 on a comparable basis, the Group’s consolidated revenue from operations increased by 18% from Rs.56 Bn. to Rs.66 Bn. Consolidated PBT increased by 985% from Rs. 53 Mn. in FY18 to Rs. 573 Mn. in FY19.
4. Our Travel businesses have negative working capital and therefore do not require any external funding.
5. We have witnessed a turnaround of our international Destination Management Specialist companies during FY 2019. Additionally, during FY 2020, contribution to the profitability is expected from our recent acquisitions including Digiphoto Entertainment Imaging (DEI).
6. Our forward booking position reflects a healthy increase of over 12%.
Mr. Madhavan Menon, Chairman and Managing Director, Thomas Cook (India) Ltd., said, “We have witnessed robust performances across all our key travel and foreign exchange businesses and continue to remain at a healthy financial position having prepaid our obligations and are debt free at a holding company level.”
He added, “We are bullish on both the foreign exchange as well as the inbound and outbound businesses. We remain open to new investments, should the right opportunity present itself.”
About Thomas Cook (India) Limited: Set up in 1881, Thomas Cook (India) Ltd. (TCIL) is the leading integrated travel and travel related financial services company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa and Passport services and E-Business. It operates leading B2C and B2B brands including Thomas Cook, SOTC, TCI, SITA, Asian Trails, Allied T Pro, Australian Tours Management, Desert Adventures, Travel Circle International Limited, Digiphoto Entertainment Imaging (DEI), Private Safaris East & South Africa.
As one of the largest travel service provider networks headquartered in the Asia-Pacific region, The Thomas Cook India Group spans 29 countries across 5 continents, a team of over 8226 and a combined revenue in excess of Rs. 11,411.6 Cr. (over $ 1.75 Bn).
TCIL has been felicitated with The Best Outbound Tour Operator at the Times Travel Awards 2018 & 2019 and Leading Company with Cutting Edge Travel Innovation at the Times Travel Awards 2018, Best Risk ManagementFramework & Systems at the India Risk Management Awards 2019; Excellence in Domestic Tour Operations at the SATTE Awards 2018, Best Travel Entrepreneur of The Year at TTG Travel Awards 2017, The French Ambassador’s Award for Exemplary Achievements in Visa Issuance– 2015 to 2018 and the Condé Nast Traveller – Readers’ Travel Awards from 2011 to 2018. CRISIL has reaffirmed the rating on debt programmes and bank facilities of Thomas Cook (India) Ltd at ‘CRISIL AA-/Stable on the long-term bank facilities of TCIL and CRISIL A1+ rating on the short-term bank facilities and short- term debt of the Company.
For more information, please visit www.thomascook.in