Finolex Cables sees Karnataka data centres and semiconductor projects as key demand drivers. The company has completed 90% of its ₹580-crore capex programme and may build a plant in the state.
Alpha Score of 42 reflects weak overall profile with weak momentum, poor value, weak quality, moderate sentiment.
Finolex Cables is betting on Karnataka's infrastructure push to drive its next phase of growth, with the company pointing to data centres, semiconductor projects and artificial intelligence parks as key demand drivers.
Amit Mathur, President – Sales & Marketing, told BusinessLine that Karnataka remains one of the company's largest markets, accounting for nearly a quarter of its southern business. Around 40% of Finolex's turnover comes from the southern region, of which Karnataka contributes about 25%.
"With the kind of investment happening in Karnataka–whether in semiconductors, data centres, artificial intelligence parks or GCCs–we expect strong demand for communication cables, power cables, solar cables and electrical wires," Mathur said.
To support this demand, the company has expanded its regional infrastructure. It now runs a 40,000-45,000 sq ft mother warehouse at Nelamangala that supplies products across southern India, alongside branches in Bengaluru and Dharwad to deepen its distribution network, particularly in rural markets.
Mathur said the company has completed nearly 90% of its previously announced ₹580-crore capital expenditure programme, which includes an e-beam technology facility for solar cables and high-performance electrical wires, a preform plant for optical fibre manufacturing and capacity additions across multiple plants. The investments have strengthened the company's backward integration and positioned it to cater to rising demand across infrastructure segments.
While no fresh capex has been announced, Mathur indicated that Karnataka could house a manufacturing facility in the future.
"South is a growing market for us. If the possibility is there, we will definitely come up with a plant in the coming years," he said.
Apart from cables, the company is also expanding its fast-moving electrical goods (FMEG) portfolio and aims to nearly double the business from about ₹270 crore to ₹500 crore by offering customers an integrated electrical solutions basket.
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