Finolex Cables has announced a 3% price reduction across light-duty cables (LDC) and communication cables, effective November 13, following a decline in copper prices and appreciation in the rupee, according to channel checks by NDTV Profit.
LDC cables include house wires and flexible cables widely used in residential and commercial electrical installations.
The price revision could influence pricing across the domestic wires and cables industry, with Polycab and RR Kabel also expected to follow suit in the coming days. However, neither company has issued a formal price revision circular to channel partners so far.
The reduction comes as lower raw material costs ease input pressure on cable manufacturers. Copper is a key component in electrical wires, making movements in international metal prices and currency exchange rates important factors in determining product pricing.
Finolex's decision follows a strong September quarter performance. The company reported a 67.5% year-on-year jump in consolidated net profit to Rs 273 crore in Q2 FY27, compared with Rs 163 crore a year earlier.
Also Read | Finolex Cables Shares Fall 5% After Rallying 20% In Muhurat Trading; Q2 Results In Focus
Revenue increased 65% to Rs 2,269 crore from Rs 1,376 crore. EBITDA more than doubled to Rs 311 crore, marking a 113% rise from Rs 146 crore in the corresponding quarter last year.
Operating profitability also improved, with EBITDA margin expanding 310 basis points to 13.7% from 10.6%.
The upcoming pricing decisions by Polycab and RR Kabel will be closely watched by distributors and industry participants. If both companies follow Finolex's move, the adjustment could signal a broader pass-through of lower copper costs across India's wires and cables market.
Also Read | Finolex Cables Share Price Gains 4% After Jefferies Retains 'Buy'; Here's What Brokerage Sees
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.