New Delhi, September 2, 2024 – Finolex Cables, a leading player in the wire and cables industry, is proud to announce the launch of its new range of E-Beam irradiated LT XLPE Solar Cables, providing exceptional UV and ozone protection. Manufactured in-house at Finolex’s new state-of-the-art E-Beam facility in Pune, these solar cables leverage advanced electron beam technology.  This investment in the E-Beam facility is part of a broader Rs 500 crore capex plan announced earlier that included expanding manufacturing capabilities, adopting advanced technologies, and enhancing supply chain infrastructure.

Designed to withstand extreme operating conditions, these innovative solar cables are capable of handling temperatures up to 120°C, with higher current ratings and superior durability making them ideal for demanding industrial applications and large-scale solar installations. Additionally, these cables are environmentally friendly and halogen-free, reducing the release of toxic gases in the event of a fire.

Compared to traditional chemical curing methods, E-Beam technology significantly improves the insulating properties of the cables, allowing them to sustain higher voltages with lower radial thickness and extending their life expectancy to over 25 years. This technology is now operational in-house which will be used for various upcoming products.

“As India accelerates its shift to renewable energy, Finolex Cables is strategically positioned to support the nation’s ambitious goals with our durable and high-capacity solar cables. The government’s target to expand renewable energy capacity to 500GW, including 270GW from solar power, has greatly increased the demand for top-quality and efficient solar cables. With solar power now contributing 18% to India’s total power generation in 2024 and expected to grow further, our solar cables are designed to adapt to the market’s evolving needs. As utilities face growing requirements under the Renewable Purchase Obligation (RPO) to integrate renewable energy, the demand for specialized solar cables is set to rise, making Finolex a crucial partner in India’s renewable energy transition,” stated Mr. Amit Mathur, President – Sales and Marketing at Finolex Cables. He further noted, “At Finolex, we aim to capture approximately 15% of the market over the next two years. We anticipate securing over 70% of this from the retail market by leveraging our extensive network of 200,000 retailers, 5,000 channel partners, and more than 750 distributors.”

Further, with the launch of solar cables to its portfolio, Finolex Cables is also committed to supporting government initiatives such as the Rooftop Solar Yojana (PM SURYAGHAR), which aims to solarize one crore households with an allocation of over INR 75,000 crore. This initiative provides up to 300 units of free electricity per month for solar rooftop systems up to 3 kW capacity, along with easy and affordable loans.

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Speaking on the launch, Mr. Mahesh Viswanathan, Dy CEO & CFO, Finolex Cables Ltd. said, “We have decades of experience and immaculate track-record in manufacturing telephone cables, JFTC, signal cables, CCTV cables, LAN cables and Fiber Optic Cables (from 6 cores to 576 cores). The company truly understands how to provide better and smarter solutions for our consumers. The number of structured cabling users, including government agencies, educational bodies, telecommunications companies, financial institutions, retailers and social networking services, are growing in tandem with the rising urbanization rate, thus putting additional strain on the current communication infrastructure. Our LAN offerings will deliver a much-needed solution for the structured cabling industry.”

India is undergoing a digital revolution driven by the rapidly changing business requirements and increased usage of data for decision making. The Indian government aims to develop 100 smart cities, where the internet of things (IoT) will play a pivotal role. At the same time, the need for intelligent buildings is increasing, as more companies are working to make their campuses and facilities world class, while saving costs and responding to the government’s smart building initiative. Due to the growing need for data transmission systems, particularly in metropolitan areas, the number of telecommunication companies have exploded in recent years. Structured cabling offers the critical support for high-performance and unified communication systems; and hence rapid digitization has become a key trend in the structured cabling market for India.

Mr. Amit Mathur, President – Sales & Marketing said “Our high performing LAN components surpass industry parameters to meet stringent functionality requirements. We believe our Passive systems are the best option for delivering speed consistently, thus, providing Stress Free Smart Solutions for our customers.”

In India, demand for high bandwidth has risen as internet penetration has increased. Structured cabling enables high bandwidth that is necessary for commercial operations to run smoothly. This ecosystem has evolved at an exponential rate due to its increased data transfer capability, low cost, and flexibility.

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Located strategically in the heart of Nelamangala near Bengaluru, this modern warehouse facility is equipped with five dedicated loading and unloading docks, ensuring seamless and efficient logistics operations. The warehouse’s prime location and state-of-the-art infrastructure will enable Finolex Cables to serve its valued customers and dealers in the Southern region even more effectively.

The 40,000 square feet of indoor space with an impressive clear height of 6.3 meters provides ample room for storing its product range of wires & cables, fans, water heaters, switches, lighting, switchgears etc. while the 20,000 square feet of outdoor storage space allows the company to accommodate larger shipments and meet growing demands of its customers. It is also equipped with the industry leading Ground plus 4 racking systems. Five loading and unloading docks will also help in streamlining the process of receiving and dispatching goods, reducing lead times and ensuring timely deliveries.

Mr. Deepak K. Chhabria, Executive Chairman, Finolex Cables Ltd., said, “We are thrilled to inaugurate our new warehouse facility in Nelamangala, Bengaluru. With this state-of-the-art warehouse, we are not only increasing our operational efficiency but also reinforcing our dedication to providing top-quality products and services to our valued clients. This strategic move represents a significant step forward in our journey to serve the ever-evolving needs of the industry. We look forward to the positive impact this facility will have on our operations and help us deliver to customer expectations.”

Mr. Amit Mathur, President – Sales & Marketing, Finolex Cables, commenting on the new Finolex hub launch said, “The new warehouse is a strategic investment that will empower us to deliver even more effectively to our customers. This expansion allows us to respond more rapidly to our customers’ requirements, maintain larger inventories, and continue offering the high-quality products and services that Finolex Cables is known for. We are excited about the growth prospects this facility unlocks for us in the South Indian region. “

The inauguration of this new warehouse aligns with Finolex Cables’ mission to continually improve its operations and strengthen its presence in key markets. Finolex Cables has previously ventured into the Fast-Moving Electrical Goods (FMEG) sector which have been highly acclaimed by consumers. The company’s growth can be attributed to its strategic approach, including the establishment of state-of-the-art manufacturing facilities and consistent capacity expansion to meet the dynamic needs of the market.

About Finolex Cables Limited (BSE Code: 500144; NSE Code: FINCABLES)

Finolex Cables is among India’s leading electrical and telecommunication cable companies. It is rapidly transforming from a manufacturer of wires and cables into an electrical products company, by expanding its product portfolio to market products like lighting, water heaters, fans, switches, switchgear, room heaters and electrical conduits. This reinforces its reputation of offering innovative products that cater to the needs of modern households.

The company started its operation with the manufacture of PVC-insulated electrical cables for the automobile industry. Besides a wide variety of Wires & Cables, the Company is also manufacturing lighting products, electrical wiring accessories, switchgear, fans, and water heaters. The company has manufacturing facilities at Pimpri and Urse in Pune as well as at Goa & Uttarakhand. Finolex Cables is constantly working at introducing innovative technologies and enhancing technical competencies while prioritizing customer requirements, quality, and environmental concerns.

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New Delhi Sept 22, 2023: Finolex Cables Limited, a leading manufacturer of electrical and communication cables in India, announces the launch of its latest innovation in home automation – smart switches and smart door locks. These cutting-edge products are designed to elevate convenience, security, and energy efficiency, integrating seamlessly into the consumers modern lifestyle. Homeowners can now control their homes through touch and voice commands, as well as monitor and manage their settings using smartphones and voice assistants.

Finolex Cables launched its state-of-the-art smart door locks, transforming the concept of home security. These technologically advanced locks come with video door phone along with providing multiple access options, including fingerprint recognition, password entry, retina scan, periodic/one-time password, and remote unlocking via the mobile app. With their sleek and intelligent design, these locks enhance the aesthetics of modern homes while offering unmatched protection through cutting-edge encryption and advanced security features. The vast range includes door locks that can fixed on wooden, metal and glass doors with the price ranging from Rs. 12,000 to Rs. 50,000 approx.

In addition to the smart door locks, Finolex Cables has also introduced WiFi-enabled smart switches that seamlessly integrate with existing electrical setups. These switches empower homeowners with complete control over their lighting and appliances. Whether operated manually, via remote control, or through virtual assistants like Ok Google and Alexa, the smart switches provide effortless convenience. Moreover, the panels are available in 5000 customized LED background colours and finishes to meet the aesthetic appeal of any designer. The smart app ensures Wi-Fi-enabled comfort with minimal effort. With superior craftsmanship and spark-free properties, Finolex Cables prioritizes safety for its customers. Pricing of these smart switches’ ranges from Rs. 8,000 to Rs. 12,000 approx.

The company is further fortifying its offering by launching a completely new range of Switches branded Grazo. Finished in matt white, to give a contemporary, modern looking design. The soft rounded edges of this switch are enhanced with screw caps to conceal the fixing screws to give it a stylish & innovative look.

Mr. Deepak K. Chhabria, Executive Chairman, Finolex Cables Ltd., expressed his delight at the launch, stating, “Our latest offering of smart switches and smart door locks exemplifies our commitment to technological innovation and customer-centric solutions. Through these cutting-edge products, we aim to empower homeowners with enhanced convenience, security, and energy efficiency. We are invested in shaping the future of smart living, and these smart switches and smart door locks stand as a testament to our dedication to delivering excellence in every aspect of our business.”

Additionally, Mr. Amit Mathur, President – Sales & Marketing, Finolex Cables, stated, “This new range of smart switches and smart door locks announce our entry in the home automation category and represents a significant milestone in redefining how we at Finolex Cables engage with our end consumer. Through extensive research and technological integration, we have crafted these products to deliver exceptional value to our esteemed customers. We have also ensured that these cutting-edge products are priced competitively, ranging from Rs 8,000 onwards, while delivering a truly convenient solution. Our new Grazo switches range will simultaneously help increase our reach and penetrate the mass market.”

Finolex Cables has previously ventured into the Fast-Moving Electrical Goods (FMEG) sector by introducing a range of innovative products such as the Crease Free Iron range, electric & room water heaters, fans, MCBs, switches, room heaters, conduits and lighting products, which have been highly acclaimed by consumers. The company’s growth can be attributed to its strategic approach, including the establishment of state-of-the-art manufacturing facilities and consistent capacity expansion to meet the dynamic needs of the market.

About Finolex Cables Limited (BSE Code: 500144; NSE Code: FINCABLES)

Finolex Cables is among India’s leading electrical and telecommunication cable companies. It is rapidly transforming from a manufacturer of wires and cables into an electrical products company, by expanding its product portfolio to market products like lighting, water heaters, fans, switches, switchgear, room heaters and electrical conduits. This reinforces its reputation of offering innovative products that cater to the needs of modern households.

The company started its operation with the manufacture of PVC-insulated electrical cables for the automobile industry. Besides a wide variety of Wires & Cables, the Company is also manufacturing lighting products, electrical wiring accessories, switchgear, fans, and water heaters. The company has manufacturing facilities at Pimpri and Urse in Pune as well as at Goa & Uttarakhand. Finolex Cables is constantly working at introducing innovative technologies and enhancing technical competencies while prioritizing customer requirements, quality, and environmental concerns.

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