FINCABLES Q3 FY26 Guidance vs Delivery (FINCABLES Management Mirror)

Communication Cables & Expansion

Raised (Dec'25 Qtr): Management significantly increased capacity targets, now aiming for 8M km fiber draw capacity by Jun'26 (Phase 1 to 6M km; Phase 2 to 8M km by Mar'26). This compares to prior commentary (Sep'25 Qtr) focused on completing previously announced "major spends" by Mar'26 without specific 8M km details.

Modified (Dec'25 Qtr): Fiber price outlook shifted positively; prices hardened from <$3 to ~$5 due to global shortages, a distinct improvement from the "waiting and watching" stance in Sep'25 Qtr.

Reaffirmed (Dec'25 Qtr): The preform factory is expected to commission by Mar'26 with trials underway, consistent with the timeline stated in Sep'25 Qtr.

Reaffirmed (Dec'25 Qtr): Management continues to target segment EBIT margins of 8-9% upon stabilization, consistent with the 8-10% range cited in Sep'25 Qtr.

Initiated (Dec'25 Qtr): Projected annual revenue potential from expanded capacity is estimated at 600-700 crores.