Finolex Cables Ltd. — Interim / Quarterly Report 2021

Nov 12, 2021

FCL:SEC:SE:21: 139 12th November, 2021

Corporate Relationship Department SSE Limited 1st Floor, New Trading Ring Rotunda Building, P J Towers Dalal Street, Fort Mumbai - 400 001

Dear Sirs,

Re: Meeting of the Board held on 12" Noyember, 2021

In continuation of our earlier letter dated 28" October, 2021, we would inform you that the meeting of the Board of Directors held today i.e. Friday, 12 November, 2021 scheduled for 11.00 a.m. was commenced at 11.15 a.m. and concluded at 3.00 p.m.

We are pleased to enclose herewith the Statement of Standalone and Consolidated Unaudited Financial Results for the quarter/period ended 30th September, 2021 together with a copy each of the Limited Review Report on the said Results as received from the Statutory Auditors of the Company and of the Press Release in this regard which were approved and taken on record by the Board of Directors at the said meeting.

We have taken necessary steps to publish these financial results in the Newspapers as well as to place the same on the website of the Company i.e. www.finolex.com as per the provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

Kindly arrange to take on record the aforesaid and the other matters, inter alia, considered by the Board at the above meeting as set out in the Notes to the said Results and arrange to have the same updated on the Website of the Exchange at the earliest.

Please acknowledge receipt and oblige.

Thanking you,

Yours faithfully For FINOLEX CABLES LIMITED

el--

R G D'SILVA Company Secretary & President (Legal)

Encl : As above.

Finolex Cables Limited

Registered Office : 26/27, Mumbai-Pune Road, Pimpri, Pune 411018 (India)

Tel: (91) (20) 27475963 Fax : (91) (020) 27472239 Website: http://www.finolex.com

CIN : L31300MH1967PLC016531

Statement of Standalone & Consolidated Financial results of Finolex Cables Limited for the quarter and six months ended 30th September, 2021 Prepared in compliance with the Indian Accounting Standards (Ind AS)

						(Rs. In Crore)
		Standalone			Consolidated
rticularsPa		Quarter ended	Six monthsended		Quarter ended	Six monthsended
	30-Sep-21	30-5ep-20	30-Sep-21	30-Sep-21	30-Sep-20	30-Sep-21
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited
1 Total Income from Operations	1,030.70	659.17	1,721.61	950.31	659.17	1,641.22
2 Net Profit before Tax	207.23	92.15	283.06	200.96	135.68
3 Net Profit after Tax	149.73	69.08	204.81	144.77		320.48
4 Total Comprehensive Income	151.12	71.69			102.39	231.67
5 Paid up equity share capital (face value Rs. 2/-each)			217.16	145.79	105.79	243.67
6 Earnings per share (of Rs. 2/- each) (Not annualised)	30.59	30.59	30.59	30.59	30.59	30.59
(a) Basic (in Rs)/ Share (not annualised for quarters)
(b) Diluted (in Rs)/ Share (not annualised for quarters)	9.79	4.51	13.39	9.47	6.69	15.15
	9.79	4.51	13.39	9.47	6.69	15.15

Note:

The above is an extract of the detailed format for quarter and six months ended financial results filed with the Stock Exchange under Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The full format of the Standalone & Consolidated financial results for the quarter and six months ended 30 September, 2021 are available on the Stock Exchange websites www.nseindia.com and www.bseindia.com and under the Investor Relations section of our website at http://www.finolex.com.

By Order of the Board

gs

Deepak K. Chhabria Place: Pune DIN: 01403799

Executive Chairman Date : 12th November, 2021

Finolex Cables Limited

Registered Office : 26/27, Mumbai-Pune Road, Pimpri, Pune 411018 (India) Tel. 27475963 Fax: (91) (020) 27472239 website : http://www.finolex.com CIN : L31300MH1967PLC016531

Standalone Statement of Assets and Liabilities

As at 31-Mar-21As at 30-Sep-21ASSETSINON CURRENT ASSETSProperty,Plantand Equipment381.07385.93(a)Capital39.7525.71Work-in-Progress(b)Rightofuse Asset7.658.29(c)IntangibleAssets0.290.21(d)Financial Assets(e)in AssociateVenturesInvestmentand Joint211.34211.34)ii) OtherInvestments115.44216.86iii) OtherFinancial Assets60.814.38(net)(f)Non-CurrentTax Assets20.4620.46OtherAssetsNon-Current31.7335.20(g)868.54908.38Total Non-Current AssetsCURRENT ASSETSInventories755.40671.86(a)Financial Assets(b)Investments599.68)509.00176.45176.55Trade Receivablesii)iii) Cash and Cash Equivalents23.0224.60Other5.2329.12iv)Bank balancesOtherFinancial Assets1,143.47778.21v)OtherCurrentAssets28.4370.50(c)2,648.142,343.38Total Current Assets3,516.683,251.76TOTAL ASSETSEQUITY AND LIABILITIESIIEQUITYShare CapitalEquity30.5930.59(a)OtherEquity3,053.162,920.12(b)3,083.752,950.71Total EquityLIABILITIESNON CURRENT LIABILITIESFinancial Liabilities(a)0.310.31Borrowingsi)ii) Lease Liabilities3.804.1810.8611.72Provisions(b)Tax Liabilities( Net)Deferred34.1032.29(c)47.26Total Non-Current Liabilities50.31CURRENT LIABILITIESFinancial Liabilities(a)0.030.03(i) Borrowings(ii) Lease Liabilities1.762.18Trade Payables(iii)(a) TotalOutstandingDues of15.8713.96microenterprisesother(b) TotalOutstandingCreditorsDues of156.64160.16micro enterprisesand small enterprisesthan(iv) OtherFinancial Liabilities88.084.14OtherLiabilitiesCurrent49.0632.11(b)6.856.75Provisions(c)(d)Liabilities(net)Currenttax69.3929.40	(Rs. In Crore)
385.67250.74Total Current Liabilities432.93301.05
Total Liabilities3,516.683,251.76TOTAL EQUITY AND LIABILITIES

Finolex Cables Limited Registered Office : 26/27, Mumbai-Pune Road, Pimpri, Pune 411018 {India) Tel. 27475963 Fax : (91) (020) 27472239 website: http://www.finolex.com CIN : L31300MH1967PLC016531

Statement of Standalone Financial Results for the quarter and six months ended 30th September, 2021

					(Rs In Crore)
	Particulars		Quarter ended			Six months ended	Year ended
		30-Sep-21	30-Jun-21	30-Sep-20	30-Sep-21	30-Sep-20	31-Mar-21
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
I	Revenue from Operations	932.98	675.36	639.41	1,608.34	1,016.53	2,768.11
II	Other Income	97.72	15.55	19.76	113.27	42.24	76.99
Ill	Total Income (H+Il)	1,030.70	690.91	659.17	1,721.61	1,058.77	2,845.10
IV	Expenses
	Cost of materialconsumed	611.91	535.17	570.04	1,147.08	730.60	2,129.91
	Purchase of stock-in-trade	22.30	21.76	18.54	44.06	23.52	76.24
	Changes in inventoriesof finished goods, stock-in-trade and	80.82	(29.97)	(123.92)	50.85	(6.01)	(154.71)
	work in progress
	Employee benefits expense	37.84	35.13	33.91	72.97	67.87	137.87
	Finance costs	0.15	0.14	0.18	0.29	0.35	0.76
	Depreciation and amortization expense	9.93	9.89	9.79	19.82	19.81	38.96
	Other expenses	60.52	42.96	58.48	103.48	83.65	223.95
	Total Expenses (IV)	823.47	615.08	567.02	1,438.55	919.79	2,452.98
V	Profit before tax (Ill-IV)	207.23	75.83	92.15	283.06	138.98	392.12
VI	Tax expense
	(1) Current tax	58.96	21.20	25.82	80.16	38.82	112.63
	(2) Deferred tax charge/(credit)	(1.46)	(0.45)	(2.75)	(1.91)	(3.90)	(3.40)
VII	Profitfor the period (V-VI)	149.73	55.08	69.08	204.81	104.06	282.89
VIII	Other Comprehensive Income/(Expense)
	(A) Itemsthat will not be reclassified to profit or loss
	(i) Re-measurement gain/(loss) on defined	(0.48)		(0.72)	(0.48)	(0.72)	0.66
	benefit plans
	(ii)Fair value change in equity instruments	1.87	11.06	3.15	12.93	11.04	34.09
	(iii) Income tax relating to these items	-	(0.10)	0.18	(0.10)	0.18	(1.44)
	(B) Items that will be reclassified to profit or loss	-	-		-	-
	Other Comprehensive Income/(Expense)for the period (VIII)	1.39	10.96	2.61	12.35	10.50	33.31
IX	Total Comprehensive Income for the period (VII+ VIII)	151.12	66.04	71.69	217.16	114.56	316.20
X	Paid up equity share capital (Face value Rs. 2 per share)	30.59	30.59	30.59	30.59
						30.59	30.59
XI	Other Equity						2,920.12
XII	Earnings per equity share(Facevalue Rs. 2 per share):
	(l)Basic(In Rs.)/Share(not annualised for quarters)	9.79	3.60	4.51	13.39	6.80	18.50
	(2) Diluted (In Rs.)/Share(not annualised for quarters)	9.79	3.60	4.51	13.39	6.80	18.50

Standalone Segment wise Revenue, Results, Assets and Liabilities.
-------------------------------------------------------------------	--	--	--

(Rs. In Crore)
Particulars		Quarter ended		Six months	ended	Year ended
	30-Sep-21	30-Jun-21	30-Sep-20	30-Sep-21	30-Sep-20	31-Mar-21
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
SegmentRevenue
A. Electrical cables	783.79	557.55	538.70	1,341.34	870.39	2,309.98
B. Communicationcables	96.93	87.48	70.97	184.41	98.25	321.47
C. Copper rods	158.76	38.93	161.72	197.69	219.63	574.21
D. Others	47.54	27.53	24.05	75.07	40.43	113.62
Totalsegment revenue	1,087.02	711.49	79S.44	1,798.51	1,228.70	3,319.28
Less: Intersegment revenue	(154.04)	(36.13)	(156.03)	(190.17)	(212.17)	(551.17)
Netsegmentrevenue	932.98	675.36	639.41	1,608.34	1,016.53	2,768.11
SegmentResults
A. Electrical cables	115.12	60.12	79.54	175.24	105.61	340.59
B. Communicationcables	(4.10)	1.75	2.84	(2.35)	2.74	8.37
C. Copper rods	0.75	0.07	0.34	0.82	0.51	1.10
D. Others	1.65	0.86	1.40	2.51	2.07	4.25
Totalsegment results	113.42	62.80	84.12	176.22	110.93	354.31
(Less) : Finance costs	(0.15)	(0.14)	(0.18)	(0.29)	(0.35)	(0.76)
	93.96	13.17	8.21	107.13	28.40	38.57
Add /(Less): unallocable income net of unallocable expenditure
Profit before tax	207.23	75.83	92.15	283.06	138.98	392.12
SegmentAssets
A. Electrical cables	1,030.50	1,091.78	844.98	1,030.50	844.98	1,090.90
B. Communication cables	248.79	267.63	228.06	248.79	228.06	299.75
C. Copper rods	11.08	76.38	59.01	11.08	59.01	27.97
D. Others	51.25	32.56	48.92	51.25	48.92	43.55
Unallocable Assets	2,175.06	1,839.02	1,910.42	2,175.06	1,910.42	1,789.59
TotalAssets	3,516.68	3,307.37	3,091.39	3,516.68	3,091.39	3,251.76
SegmentLiabilities
A. Electrical cables	147.42	178.37	158.15	147.42	158.15	175.04
B. Communication cables	22.46	18.65	21.88	22.46	21.88	25.67
C. Copper rods	1.06	0.17	14.71	1.06	14.71	17.41
D. Others	67.16	13.28	1.48	67.16	1.48	9.59
Unallocable Liabilities	194.83	80.15	146.10	194.83	146.10	73.34
TotalLiabilities	432.93	290.62	342.32	432.93	342.32	301.05

Others segment mainly comprises of Trading of Electrical and other goods.

Notes:

• 1 The above results were reviewed by the Audit Committee and were thereafter approved by the Board of Directors at their respective meetings held on 12th November, 2021.
• 2 The Company has considered the possible effects that may result from the pandemic relating to COVID-19 on the carrying amounts of its assets. In developing the assumptions relating to the possible future uncertainties in the economic conditions because of this pandemic, the Company, as at the date of approval of these financial results has used internal and external sources of information. The Company has performed sensitivity analysis on the assumptions used and based on current estimates expects to recover the carrying amounts of these assets. The Company will continue to closely monitor anv material changes to future economic conditions.
• 3 On March 24, 2021, the Ministry of Corporate Affairs (MCA) through a notification, amended Schedule Ill of the Companies Act, 2013, applicable for financial periods commencing from April 1, 2021. Pursuant to such amendments, previous period figures have been re-grouped/ re-classified wherever necessary, to conform to current period's classification in order to comply with the requirements of the amended Schedule Ill to the Companies Act, 2013.
• 4 The Board of Directors recommended dividend of Rs. 5.50 per equity share(previous year Rs. 5.50 per equity share) for the year ended 31st March, 2021 in its meeting dated 29th June, 2021 which has been approved by the shareholders in the Annual General Meeting dated 29th September, 2021. Consequently, dividend of Rs. 84.12 crore has been provided during the current quarter and six months ended 30th September, 2021
• 5 The Statutory Auditors have carried out a limited review of the unaudited standalone financial results for the quarter and six months ended 30th September, 2021.

By Order of the Board

Deepak K. Chhabria Executive Chairman DIN: 01403799

Place: Pune Date: 12th November, 2021

Finolex Cables Limited Registered Office : 26/27, Mumbai-Pune Road, Pimpri, Pune 411018 (India) Tel. 27475963 Fax : (91) (020) 27472239 website : http://www.finolex.com CIN : L31300MH1967PLC016531 Statement of unaudited Standalone Cash Flow Information

		(Rs In Crore)
	Periodended	Periodended
Particulars	30-Sep-2021	30-Sep-2020
	Unaudited	Unaudited
operatingactivitiesA. Cash flowsfrom
taxfor theProfitbeforeperiod	283.06	138.98
Operatingcapitalprofitworkingbeforechanges	201.49	128.94
cash generatedoperatingactivitiesNetfrom	286.59	147.47
activitiescash (used in) investingB. Net	(287.06)	(989.52)
activitiesC. Netcash (used in) financing	(1.11)	(1.56)
increase/(decrease) in cash and cash equivalentsNet	(1.58)	(843.61)
Cash and cash equivalentsas at1st(OpeningAprilbalance)	24.60	856.02
Cash and cash equivalents30thas atSeptember(Closing balance)	23.02	12.41

Finolex Cables Limited

Registered Office : 26/27, Mumbai-Pune Road, Pimpri, Pune 411018 (India) Tel. 27475963 Fax: (91) (020) 27472239 website: http://www.finolex.com CIN : L31300MH1967PLC016531 Consolidated Statement of Assets and Liabilities

		(Rs. In Crore)
	As at 30-Sep-21	As at 31-Mar-21
ASSETSI
NON CURRENT ASSETS
Property, Plantand Equipment(a)	381.07	385.93
Capital(b)Work-in-Progress	39.75	25.71
Rightofuse asset(c)	7.65	8.29
IntangibleAssets(d)	0.29	0.21
AccountedInvestmentequitymethodfor using the(e)	882.32	845.25
(f)Financial Assets
i) Other Investments	115.44	216.86
ii) Other Financial Assets	60.81
(net)Non-CurrentTax Assets(g)	20.46	4.38
OtherAssetsNon-Current(h)		20.46
Total Non-Current Assets	31.73	35.20
CURRENT ASSETS	1,539.52	1,542.29
Inventories(a)
Financial Assets	671.86	755.40
(b)Investments
)	599.68	509.00
Trade Receivablesii)	176.45	176.55
iii) Cash and Cash Equivalents	23.02	24.60
iv) Otherbank balances	5.23	29.12
OtherFinancial Assetsv)	1,143.47	778.21
OtherCurrentAssets(c)	28.43	70.50
Total Current Assets	2,648.14	2,343.38
TOTAL ASSETS	4,187.66	3,885.67
EQUITY AND LIABILITIESIIEQUITY
EquityShare Capital(a)	30.59	30.59
OtherEquity(b)	3,543.47
Total Equity	3,574.06	3,383.92
LIABILITIES		3,414.51
NON CURRENT LIABILITIES
Financial Liabilities(a)
)Borrowings	0.31	0.31
ii) Lease Liabilities	3.80	4.18
Provisions(b)	10.86	11.72
Tax Liabilities( Net)Deferred(c)	212.96	204.21
Total Non-Current Liabilities	227.93	220.42
CURRENT LIABILITIES
Financial Liabilities(a)
Borrowings(0)(ii) Lease Liabilities	0.03	0.03
	1.76	2.18
(iii)Trade Payables
Micro Enterprisesoutstandingdues of(a) Totaland Small Enterprises	13.96	15.87
outstandingCreditorsother(b) Totaldues ofMicro Enterprisesand Small Enterprisesthan	156.64	160.16
(iv) OtherFinancial Liabilities
LiabilitiesOtherCurrent	88.08	4.14
(b)	49.06	32.11
Provisions(c)	6.75	6.85
Liabilities(net)Currenttax(d)	69.39	29.40
Total Current Liabilities	385.67	250.74
Total Liabilities	613.60	471.16
TOTAL EQUITY AND LIABILITIES	4,187.66	3,885.67

Finolex Cables limited Registered Office : 26/27, Mumbai-Pune Road, Pimpri, Pune 411018 (India) Tel. 27475963 Fax : (91) (020) 27472239 website: http://www.finolex.com CIN : L31300MH1967PLC016531

Statement of Consolidated Financial Results for the quarter and six months ended 30th September, 2021

							(Rs In Crore)
	Particulars		Quarter ended			Six months ended	Year ended
		30-Sep-21	30-Jun-21	30-Sep-20	30-Sep-21	30-5ep-20	31-Mar-21
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
I	Revenue from Operations	932.98	675.36	639.41	1,608.34	1,016.53	2,768.11
II	OtherIncome	17.33	15.55	19.76	32.88	42.24	76.99
Ill	Total Income (H+Il)	950.31	690.91	659.17	1,641.22	1,058.77	2,845.10
IV	Expenses
	Cost of material consumed	611.91	535.17	570.04	1,147.08	730.60	2,129.91
	Purchase of stock-in-trade	22.30	21.76	18.54	44.06	23.52	76.24
	Changes in inventories of finished goods, stock-in-trade and	80.82	(29.97)	(123.92)	50.85	(6.01)	(154.71)
	work in progress
	Employee benefits expense	37.84	35.13	33.91	72.97	67.87	137.87
	Finance costs	0.15	0.14	0.18	0.29	0.35	0.76
	Depreciation and amortization expense	9.93	9.89	9.79	19.82	19.81	38.96
	Other expenses	60.52	42.96	49.48	103.48	74.65	208.62
	Total Expenses (IV)	823.47	615.08	558.02	1,438.55	910.79	2,437.65
V	Profit before share of net profit of associate and joint venturesand tax (II-IV)	126.84	75.83	101.15	202.67	147.98	407.45
VI	Share of net profit of an Associate and Joint Ventures	74.12	43.69	34.53	117.81	48.61	223.42
VII	Profit before tax (V+VI)	200.96	119.52	135.68	320.48	196.59	630.87
VIII	Tax expense
	(1) Current tax	58.96	21.20	25.82	80.16	38.82	112.63
	(2) Deferred tax	(2.77)	11.42	7.47	8.65	10.89	56.78
IX	Profit for the period (VII-VIII)	144.77	86.90	102.39	231.67	146.88	461.46
X	Other Comprehensive Income/ (Expense) (OcI)
	(A) Items that will not be reclassified to profit or loss
	(i) Re-measurement gain/ (loss) on defined benefit plans	(0.48)		(0.72)	(0.48)	(0.72)	0.66
	(ii)Fairvalue change in equity instruments	1.87	11.06	3.15	12.93	11.04	34.09
	(iii) Income tax relating to these items		(0.10)	0.18	(0.10)	0.18	(1.44)
	(iv) Share of Other Comprehensive Income/(Expense) of theassociate and joint ventures	(0.37)	0.02	0.79	(0.35)	0.58	0.15
	(Bl Items that will be reclassified to profit or loss
	Other Comprehensive Income/ (Expense) for the period IX)	1.02	10.98	3.40	12.00	11.08	33.46
XI	Total Comprehensive Income for the period (IX+X)	145.79	97.88	105.79	243.67	157.96	494.92
	Profit for the period attributable to:
	- Owners of the Company	144.77	86.90	102.39	231.67	146.88	461.46
	- Non-controlling interest
	Other Comprehensive Income/ (Expense) for the period
	attributable to:
	- Owners of the Company	1.02	10.98	3.40	12.00	11.08	33.46
	- Non-controlling interest
	Total Comprehensive Income for the period attributable to:
	- Owners of the Company	145.79	97.88	105.79	243.67	157.96	494.92
	- Non-controlling interest
XII	Paid up equity share capital (Face value Rs. 2 per share)	30.59	30.59	30.59	30.59	30.59	30.59
XIII	Other Equity						3,383.92
XIV	Earnings per equity share(Face value Rs. 2 per share):
	(l)Basic (In Rs.)/Share (not annualised for quarters)	9.47	5.68	6.69	15.15	9.60	30.17
	(2) Diluted (In Rs.)/Share (not annualised for quarters)	9.47	5.68	6.69	15.15	9.60	30.17

Consolidated Segment wise Revenue, Results, Assets and liabilities

						(Rs In Crore)
Particulars		Quarter ended		Six months ended		Year ended
	30-Sep-21	30-Jun-21	30-Sep-20	30-Sep-21	30-5ep-20	31-Mar-21
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Segment Revenue
A. Electricalcables	783.79	557.55	538.70	1,341.34	870.39	2,309.98
B. Communication cables	96.93	87.48	70.97	184.41	98.25	321.47
C. Copper rods	158.76	38.93	161.72	197.69	219.63	574.21
D. Others	47.54	27.53	24.05	75.07	40.43	113.62
Total segment revenue	1,087.02	711.49	795.44	1,798.51	1,228.70	3,319.28
Less : Inter segment revenue	(154.04)	(36.13)	(156.03)	(190.17)	(212.17)	(551.17)
Net segment revenue	932.98	675.36	639.41	1,608.34	1,016.53	2,768.11
Segment Results
A. Electrical cables	115.12	60.12	79.54	175.24	105.61	340.59
B. Communication cables	(4.10)	1.75	2.84	(2.35)	2.74	8.37
C. Copper rods	0.75	0.07	0.34	0.82	0.51	1.10
D. Others	1.65	0.86	1.40	2.51	2.07	4.25
Total segment results	113.42	62.80	84.12	176.22	110.93	354.31
(Less) : Finance costs	(0.15)	(0.14)	(0.18)	(0.29)	(0.35)	(0.76)
	13.57	13.17	17.21	26.74	37.40	53.90
Add /(Less): unallocable income net of unallocable expenditure
Profit before share of net profit of associate and joint ventures	126.84	75.83	101.15	202.67	147.98	407.45
and tax
Segment Assets
A. Electrical cables	1,030.50	1,091.78	844.98	1,030.50	844.98	1,090.90
B. Communication cables	248.79	267.63	228.06	248.79	228.06	299.75
C. Copper rods	11.08	76.38	59.01	11.08	59.01	27.97
D.Others	51.25	32.56	48.92	51.25	48.92	43.55
Unallocable Assets	2,846.04	2,516.64	2,363.62	2,846.04	2,363.62	2,423.50
Total Assets	4,187.66	3,984.99	3,544.59	4,187.66	3,544.59	3,885.67
Segment liabilities
A. Electricalcables	147.42	178.37	158.15	147.42	158.15	175.04
B. Communication cables	22.46	18.65	21.88	22.46	21.88	25.67
C. Copper rods	1.06	0.17	14.71	1.06	14.71	17.41
D.Others	67.16	13.28	1.48	67.16	1.48	9.59
Unallocable Liabilities	375.50	262.13	270.82	375.50	270.82	243.45
Total liabilities	613.60	472.60	467.04	613.60	467.04	471.16

Others segment mainly comprises of Trading of Electrical and Other goods

p--- Q___ t

Notes:

• The above results were reviewed by the Audit Committee and were thereafter approved by the Board of Directors at their respective meetings held on 12th November, 2021.
• 2 The Company has considered the possible effects that may result from the pandemic relating to COVID-19 on the carrying amounts of its assets. In developing the assumptions relating to the possible future uncertainties in the economic conditions because of this pandemic, the Company, as at the date of approval of these financial results has used internal and external sources of information. The Company has performed sensitivity analysis on the assumptions used and based on current estimates expects to recover the carrying amounts of these assets. The Company will continue to closely monitor any material changes to future economic conditions.
• 3 On March 24, 2021, the Ministry of Corporate Affairs (MCA) through a notification, amended Schedule Ill of the Companies Act, 2013, applicable for financial periods commencing from April 1, 2021. Pursuant to such amendments, previous period figures have been re-grouped/ re-classified wherever necessary, to conform to current period's classification in order to comply with the requirements of the amended Schedule Ill to the Companies Act, 2013.
• 4 The Board of Directors recommended dividend of Rs. 5.S0 per equity share(previous year Rs. S.S0 per equity share) for the year ended 31st March, 2021 in its meeting dated 29th June, 2021 which has been approved by the shareholders in the Annual General Meeting dated 29th September, 2021. Consequently, dividend of Rs. 84.12 crore has been provided during the current quarter and six months ended 30th September, 2021
• 5 The Statutory Auditors have carried out a limited review of the unaudited consolidated financial results for the quarter and six months ended 30th September, 2021.

Place : Pune Date: 12th November, 2021

By Order of the Board

Deepak K. Chhabria Executive Chairman DIN: 01403799

Finolex Cables Limited Registered Office : 26/27, Mumbai-Pune Road, Pimpri, Pune 411018 (India) Tel. 27475963 Fax : (91) (020) 27472239 website : http://www.finolex.com CIN : L31300MH1967PLC016531 Statement of unaudited Consolidated Cash Flow Information

		(Rs. In Crore)
Particulars	Period ended 30	Periodended 30
	Sep-2021	Sep-2020
	Unaudited	Unaudited
OperatingActivitiesA. Cash Flowsfrom
Profitfor thetaxbeforeperiod	320.48	196.59
Operatingprofitworking capitalbeforechanges	201.49	128.94
activitiescash generatedNetoperatingfromcash (used in) investingactivities	286.59	147.47
B. Net	(287.06)	(989.52)
activitiesC. Netcash (used in) financingincrease/	(1.11)	(1.56)
(decrease) in cash and cash equivalentsNet	(1.58)	(843.61)
as atCash and cash equivalents1stAprilbalance)(Opening	24.60	856.02
Cash and cash equivalents30thSeptemberas at(Closing balance)	23.02	12.41

Deloitte Haskins & Sells LLP

Chartered Accountants One International Center Tower 3, 27th-32nd Floor Senapati Bapat Marg Elphinstone Road (West) Mumbai-400 013 Maharashtra, India

Tel: +91 022 6185 4000 Fax: +91 022 6185 4101

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RES ULTS

TO THE BOARD OF DIRECTORS OF FINOLEX CABLES LIMITED

• 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of FINOLEX CABLES LIMITED ("the Company"), for the quarter and six months ended 30 September, 2021 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Firm's Registration No. 117366W/W-100018)

Rupen K. Bhatt Partner Membership No. 046930 UDIN: 21046930AAAAGL3394

Place: Mumbai Date: 12 November, 2021

Regd. Office: One International Center, Tower 3, 27th-32nd Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai-400 013, Maharashtra, India. (LLP Identification No. AAB-8737)

Deloitte Haskins & Sells LLP

Chartered Accountants One International Center Tower 3, 27th-32nd Floor Senapati Bapat Marg Elphinstone Road (West) Mumbai-400 013 Maharashtra, India

Tel: +91 022 6185 4000 Fax: +91 022 6185 4101

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF FINOLEX CABLES LIMITED

• 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of FINOLEX CABLES LIMITED ("the Company") and its share of the net profit after tax and total comprehensive income of its associate and joint ventures for the quarter and six months ended 30 September, 2021 ("the Statement") being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

1. The Statement includes the results of the following entities:

Company:

Finolex Cables Limited

Associate: Finolex Industries Limited

Deloitte Haskins & Sells LLP

Join Ventures:

• ► Finolex J-Power Systems Limited (formerly known as Finolex J-Power Systems Private Limited)
• ► Corning Finolex Optical Fibre Private Limited
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. The consolidated unaudited financial results also includes the Company's share of profit after tax of Rs. 75.55 crore and Rs. 122.68 crore for the quarter and six months ended 30 September, 2021, respectively, and total comprehensive income of Rs. 75.18 crore and Rs. 122.33 crore for the quarter and six months ended 30 September, 2021, respectively, as considered in the Statement, in respect of one associate and one joint venture, whose interim financial information / financial results have not been reviewed by us. These interim financial information / financial results have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these joint venture and associate, is based solely on the report of the other auditors and the procedures performed by us as stated in paragraph 3 above.

Our Conclusion on the Statement is not modified in respect of these matters.

For DELOITTE HASKINS & SELLS LLP

Chartered Accountants (Firm's Registration No. 117366W/W-100018)

Rupen K. Bhatt Partner Membership No. 046930 UDIN: 21046930A4AAAGM7053

Place: Mumbai Date: 12 November, 2021

FINOLEX CABLES LIMITED

PRESS RELEASE

t

FINOLEX CABLES LTD RESULTS

Pone, November 12th, 2021

Finolex Cables Ltd., (FCL) at the meeting of its Board of Directors held today approved results for the second quarter ofthe financial year 2021-22.

The quarter under review witnessed improvement in economic activity across the country. Most markets opened up completely by the second week of July following improvements in control over the Corona epidemic. However, the period also witnessed steep increases in commodity prices (Copper, Steel, Aluminum, PVC, Fuel etc.,) as also some supply chain constraints on imported material. Thus, while volumes climbed, so did the costs, impacting margins to some extent.

Revenues for the quarter ended September 2021 were Rs.932.9 Cr as against Rs.639.4 Cr for the corresponding period in year 2020-21, representing a 46% growth in value terms. In volume terms, Electrical Wires increased by 5 %. Within Communication Cables segment, volume of metal-based products improved by 4% during the quarter. Optic Fiber Cable volumes grew by over 80% during the quarter. New products within the FMEG sector all grew by between 6% and 15%.

Profit for the quarter, after taxes, was Rs.149.7 Cr, as compared to Rs.69.1 Cr in the previous year, an improvement of 116%.(Includes dividend of Rs.80.4 Cr declared by associate company previous year NIL).

The Company and Coming have decided to realign their co-operation under a direct engagement to address the Indian telecommunication market needs of OFC. Consequently, the JV that is currently operated by both parties (Coming Finolex Optical Fiber Pvt Ltd), will cease operations, once the necessary shareholder and regulatory approvals are in place. Subsequently, customers of the JV, including the Company, will be serviced by Corning Technologies India Pvt Ltd or Coming's other affiliates

ABOUTFCL

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. Finolex has added Electrical Switches, LED based Lamps, Fans, low voltage MCBs and Water Heaters to its range ofproducts.

FINANCIAL HIGHLIGHTS+

	QuarterEnded30.09.21	QuarterEnded30.09.20	MonthsSixEnded30.09.2021	MonthsSixEnded30.09.2020	YearEnded31.03.2021
fromOperationsRevenueOtherIncomeInterest,beforeProfititem,ExceptionalDepreciationandTax	932.997.7217.3	639.419.8102.2	1608.3113.3303.2	1016.542.2159.1	2768.176.9431.8
forDeductions:Interest•Depreciation•	0.29.9	0.29.8	0.319.8	0.419.8	0.739.0
ProfitbeforeTaxationTaxExpensesAfterProfitTax	207.2(57.5)149.7	92.2(23.1)69.1	283.1(78.3)204.8	138.9(34.9)104.0	392.1(109.2)282.9

(Rs. in crores)