# Cables - Telecom — company-by-company sector analysis

> Cables - Telecom: Finolex Cables Ltd owns the largest revenue base; Sterlite Technologies Ltd has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-07-29. Not investment advice.

## Bottom line

The 52-week sector comparison is unavailable. 5 of 5 covered companies currently have positive Mansfield relative strength versus NIFTY 500. Finolex Cables Ltd leads with revenue of ₹6,322 crore, based on 5 of 5 comparable companies through Mar 2026. Sterlite Technologies Ltd has the fastest current revenue growth at 36.2%, across 5 of 5 comparable companies.

### Is the Cables - Telecom sector outperforming NIFTY 500?

The 52-week sector comparison is unavailable. 5 of 5 covered companies currently have positive Mansfield relative strength versus NIFTY 500.

### Which Cables - Telecom company is largest by revenue?

Finolex Cables Ltd leads with revenue of ₹6,322 crore, based on 5 of 5 comparable companies through Mar 2026.

### Which Cables - Telecom company is growing fastest?

Sterlite Technologies Ltd has the fastest current revenue growth at 36.2%, across 5 of 5 comparable companies.

### Which Cables - Telecom company has the strongest 4-Factor Sector Score?

Sterlite Technologies Ltd ranks first at 56.6/100 with 90% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Cables - Telecom company has the least gross debt?

Finolex Cables Ltd has the lowest comparable gross debt at ₹19 crore. Sterlite Technologies Ltd has the highest at ₹1,942 crore.

### Which Cables - Telecom company has the lowest comparable PEG?

Sterlite Technologies Ltd has the lowest comparable Guarded PEG at 1.6, among 1 of 5 companies that pass the metric’s comparability rules.

### How much history does this Cables - Telecom comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

## Sector relative strength

The 52-week comparison of Cables - Telecom against NIFTY 500 is not available from the current market series. 5 of 5 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Sterlite Technologies Ltd is the strongest against the sector itself at +61.9%. Readings are as of 2026-07-19.

13-week sector return versus NIFTY 500: —
52-week sector return versus NIFTY 500: —
Stocks leading NIFTY: 5/5
Stocks leading sector: 2/5

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 5
Combined market value: ₹49.1K Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Sterlite Technologies Ltd (STLTECH): 57/100 — Mixed-positive evidence; evidence 90%
   - Growth & earnings 29.0/35 | Capital efficiency 4.6/25 | Valuation 9.0/20 | Relative strength 14.0/20
   - Exact sum: 29 + 4.6 + 9 + 14 = 56.6
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2. Finolex Cables Ltd (500144): 57/100 — Mixed-positive evidence; evidence 73%
   - Growth & earnings 12.0/35 | Capital efficiency 19.6/25 | Valuation 11.9/20 | Relative strength 13.1/20
   - Exact sum: 12 + 19.6 + 11.9 + 13.1 = 56.6
   - Decision use: Price leads the evidence: RS versus the benchmark is 17.1%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
3. Birla Cable Ltd (BIRLACABLE): 50/100 — Mixed-negative evidence; evidence 83%
   - Growth & earnings 26.2/35 | Capital efficiency 11.3/25 | Valuation 10.2/20 | Relative strength 1.8/20
   - Exact sum: 26.2 + 11.3 + 10.2 + 1.8 = 49.5
   - Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -31.5% and the one-year return is 2.6%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
4. Paramount Communications Ltd (PARACABLES): 45/100 — Mixed-negative evidence; evidence 83%
   - Growth & earnings 11.5/35 | Capital efficiency 13.0/25 | Valuation 7.7/20 | Relative strength 13.1/20
   - Exact sum: 11.5 + 13 + 7.7 + 13.1 = 45.3
   - Decision use: Price leads the evidence: RS versus the benchmark is 39.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
5. Vindhya Telelinks Ltd (VINDHYATEL): 39/100 — Mixed-negative evidence; evidence 83%
   - Growth & earnings 13.4/35 | Capital efficiency 7.7/25 | Valuation 9.6/20 | Relative strength 8.0/20
   - Exact sum: 13.4 + 7.7 + 9.6 + 8 = 38.7
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

## Revenue Scale & Growth Durability

What the numbers say: Finolex Cables Ltd is the scale leader at ₹6,322 crore, 12.1% ahead of Sterlite Technologies Ltd. Sterlite Technologies Ltd's growth is 36.2% from a ₹5,642 crore base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Finolex Cables Ltd is the scale benchmark; Sterlite Technologies Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Finolex Cables Ltd's growth falls below Sterlite Technologies Ltd's for two consecutive comparable reports while operating margin also compresses.

Evidence: Finolex Cables Ltd · ₹6,322 crore | 12.1% versus #2 · Sterlite Technologies Ltd | 7/8 recent comparable periods | 5/5 companies · 77 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. Finolex Cables Ltd (500144): ₹6.3K Cr
2. Sterlite Technologies Ltd (STLTECH): ₹5.6K Cr
3. Vindhya Telelinks Ltd (VINDHYATEL): ₹3.6K Cr
4. Paramount Communications Ltd (PARACABLES): ₹1.9K Cr
5. Birla Cable Ltd (BIRLACABLE): ₹771 Cr

### Revenue growth — fastest growers
1. Sterlite Technologies Ltd (STLTECH): 36%
2. Paramount Communications Ltd (PARACABLES): 21%
3. Finolex Cables Ltd (500144): 19%
4. Birla Cable Ltd (BIRLACABLE): 17%
5. Vindhya Telelinks Ltd (VINDHYATEL): -11%

### 20-quarter Revenue history
- 500144: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹1.1K Cr | Dec 2022 ₹1.2K Cr | Mar 2023 ₹1.2K Cr | Jun 2023 ₹1.2K Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹1.2K Cr | Mar 2024 ₹1.4K Cr | Jun 2024 ₹1.2K Cr | Sep 2024 ₹1.3K Cr | Dec 2024 ₹1.2K Cr | Mar 2025 ₹1.6K Cr | Jun 2025 ₹1.4K Cr | Sep 2025 ₹1.4K Cr | Dec 2025 ₹1.6K Cr | Mar 2026 ₹2.0K Cr | Jun 2026 —
- STLTECH: Sep 2021 ₹1.5K Cr | Dec 2021 ₹1.4K Cr | Mar 2022 ₹1.3K Cr | Jun 2022 ₹1.6K Cr | Sep 2022 ₹1.8K Cr | Dec 2022 ₹1.9K Cr | Mar 2023 ₹1.9K Cr | Jun 2023 ₹1.5K Cr | Sep 2023 ₹1.5K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹843 Cr | Jun 2024 ₹872 Cr | Sep 2024 ₹1.1K Cr | Dec 2024 ₹998 Cr | Mar 2025 ₹1.1K Cr | Jun 2025 ₹1.0K Cr | Sep 2025 ₹1.0K Cr | Dec 2025 ₹1.3K Cr | Mar 2026 ₹1.4K Cr | Jun 2026 ₹1.9K Cr
- VINDHYATEL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹638 Cr | Mar 2023 ₹1.4K Cr | Jun 2023 ₹851 Cr | Sep 2023 ₹862 Cr | Dec 2023 ₹1.1K Cr | Mar 2024 ₹1.3K Cr | Jun 2024 ₹833 Cr | Sep 2024 ₹953 Cr | Dec 2024 ₹1.0K Cr | Mar 2025 ₹1.2K Cr | Jun 2025 ₹908 Cr | Sep 2025 ₹960 Cr | Dec 2025 ₹717 Cr | Mar 2026 ₹1.0K Cr | Jun 2026 —
- PARACABLES: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹218 Cr | Mar 2023 ₹202 Cr | Jun 2023 ₹211 Cr | Sep 2023 ₹252 Cr | Dec 2023 ₹284 Cr | Mar 2024 ₹323 Cr | Jun 2024 ₹321 Cr | Sep 2024 ₹356 Cr | Dec 2024 ₹392 Cr | Mar 2025 ₹507 Cr | Jun 2025 ₹451 Cr | Sep 2025 ₹428 Cr | Dec 2025 ₹461 Cr | Mar 2026 ₹573 Cr | Jun 2026 —
- BIRLACABLE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹200 Cr | Mar 2023 ₹245 Cr | Jun 2023 ₹174 Cr | Sep 2023 ₹175 Cr | Dec 2023 ₹162 Cr | Mar 2024 ₹175 Cr | Jun 2024 ₹166 Cr | Sep 2024 ₹182 Cr | Dec 2024 ₹158 Cr | Mar 2025 ₹156 Cr | Jun 2025 ₹176 Cr | Sep 2025 ₹176 Cr | Dec 2025 ₹205 Cr | Mar 2026 ₹214 Cr | Jun 2026 —

### 20-quarter Revenue growth history
- 500144: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 8.8% | Dec 2023 6.3% | Mar 2024 14% | Jun 2024 2.2% | Sep 2024 11% | Dec 2024 -3.3% | Mar 2025 14% | Jun 2025 14% | Sep 2025 4.9% | Dec 2025 35% | Mar 2026 22% | Jun 2026 —
- STLTECH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 20% | Sep 2022 17% | Dec 2022 39% | Mar 2023 46% | Jun 2023 -3.7% | Sep 2023 -16% | Dec 2023 -30% | Mar 2024 -55% | Jun 2024 -43% | Sep 2024 -28% | Dec 2024 -25% | Mar 2025 25% | Jun 2025 17% | Sep 2025 -3.7% | Dec 2025 26% | Mar 2026 37% | Jun 2026 87%
- VINDHYATEL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 70% | Mar 2024 -6.2% | Jun 2024 -2.1% | Sep 2024 11% | Dec 2024 -4.3% | Mar 2025 -4.6% | Jun 2025 9.0% | Sep 2025 0.7% | Dec 2025 -31% | Mar 2026 -18% | Jun 2026 —
- PARACABLES: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 30% | Mar 2024 60% | Jun 2024 52% | Sep 2024 41% | Dec 2024 38% | Mar 2025 57% | Jun 2025 41% | Sep 2025 20% | Dec 2025 18% | Mar 2026 13% | Jun 2026 —
- BIRLACABLE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -19% | Mar 2024 -29% | Jun 2024 -4.6% | Sep 2024 4.0% | Dec 2024 -2.5% | Mar 2025 -11% | Jun 2025 6.0% | Sep 2025 -3.3% | Dec 2025 30% | Mar 2026 37% | Jun 2026 —

## Operating Economics & Margin Trend

What the numbers say: Sterlite Technologies Ltd leads both opm at 20% and margin change at +7 percentage points.

Investor read: Sterlite Technologies Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: Sterlite Technologies Ltd · 20% | 122.2% versus #2 · Finolex Cables Ltd | 6/8 recent comparable periods | 5/5 companies · 96 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. Sterlite Technologies Ltd (STLTECH): 20%
2. Finolex Cables Ltd (500144): 9.0%
3. Birla Cable Ltd (BIRLACABLE): 9.0%
4. Vindhya Telelinks Ltd (VINDHYATEL): 7.0%
5. Paramount Communications Ltd (PARACABLES): 5.0%

### Margin change — fastest expanders
1. Sterlite Technologies Ltd (STLTECH): +7.0 pp
2. Birla Cable Ltd (BIRLACABLE): +4.0 pp
3. Vindhya Telelinks Ltd (VINDHYATEL): 0.0 pp
4. Paramount Communications Ltd (PARACABLES): −1.0 pp
5. Finolex Cables Ltd (500144): −2.0 pp

### 20-quarter OPM history
- 500144: Sep 2021 13% | Dec 2021 12% | Mar 2022 10% | Jun 2022 12% | Sep 2022 9.0% | Dec 2022 12% | Mar 2023 12% | Jun 2023 12% | Sep 2023 12% | Dec 2023 11% | Mar 2024 12% | Jun 2024 10% | Sep 2024 8.0% | Dec 2024 12% | Mar 2025 11% | Jun 2025 10% | Sep 2025 11% | Dec 2025 10% | Mar 2026 9.0% | Jun 2026 —
- STLTECH: Sep 2021 17% | Dec 2021 -0.9% | Mar 2022 8.7% | Jun 2022 11% | Sep 2022 14% | Dec 2022 13% | Mar 2023 14% | Jun 2023 14% | Sep 2023 14% | Dec 2023 7.0% | Mar 2024 4.0% | Jun 2024 7.0% | Sep 2024 11% | Dec 2024 11% | Mar 2025 12% | Jun 2025 13% | Sep 2025 12% | Dec 2025 10% | Mar 2026 14% | Jun 2026 20%
- VINDHYATEL: Sep 2021 10% | Dec 2021 12% | Mar 2022 9.1% | Jun 2022 12% | Sep 2022 6.0% | Dec 2022 9.1% | Mar 2023 9.0% | Jun 2023 8.0% | Sep 2023 7.0% | Dec 2023 7.0% | Mar 2024 7.0% | Jun 2024 6.0% | Sep 2024 5.0% | Dec 2024 6.0% | Mar 2025 7.0% | Jun 2025 7.0% | Sep 2025 8.0% | Dec 2025 2.0% | Mar 2026 7.0% | Jun 2026 —
- PARACABLES: Sep 2021 3.8% | Dec 2021 3.7% | Mar 2022 3.7% | Jun 2022 4.8% | Sep 2022 6.5% | Dec 2022 6.9% | Mar 2023 6.0% | Jun 2023 8.0% | Sep 2023 8.0% | Dec 2023 8.0% | Mar 2024 8.0% | Jun 2024 8.0% | Sep 2024 9.0% | Dec 2024 9.0% | Mar 2025 6.0% | Jun 2025 3.0% | Sep 2025 1.0% | Dec 2025 3.0% | Mar 2026 5.0% | Jun 2026 —
- BIRLACABLE: Sep 2021 6.0% | Dec 2021 7.2% | Mar 2022 11% | Jun 2022 5.4% | Sep 2022 8.5% | Dec 2022 7.9% | Mar 2023 9.0% | Jun 2023 7.0% | Sep 2023 6.0% | Dec 2023 7.0% | Mar 2024 4.0% | Jun 2024 4.0% | Sep 2024 5.0% | Dec 2024 6.0% | Mar 2025 5.0% | Jun 2025 4.0% | Sep 2025 4.0% | Dec 2025 5.0% | Mar 2026 9.0% | Jun 2026 —

### 20-quarter Margin change history
- 500144: Sep 2021 −1.5 pp | Dec 2021 −1.0 pp | Mar 2022 −4.6 pp | Jun 2022 +1.3 pp | Sep 2022 −3.8 pp | Dec 2022 −0.2 pp | Mar 2023 +1.9 pp | Jun 2023 +0.3 pp | Sep 2023 +3.0 pp | Dec 2023 −1.0 pp | Mar 2024 0.0 pp | Jun 2024 −2.0 pp | Sep 2024 −4.0 pp | Dec 2024 +1.0 pp | Mar 2025 −1.0 pp | Jun 2025 0.0 pp | Sep 2025 +3.0 pp | Dec 2025 −2.0 pp | Mar 2026 −2.0 pp | Jun 2026 —
- STLTECH: Sep 2021 +0.1 pp | Dec 2021 −18.4 pp | Mar 2022 −8.7 pp | Jun 2022 −6.9 pp | Sep 2022 −3.6 pp | Dec 2022 +13.9 pp | Mar 2023 +5.3 pp | Jun 2023 +3.2 pp | Sep 2023 +0.3 pp | Dec 2023 −6.0 pp | Mar 2024 −10.0 pp | Jun 2024 −7.0 pp | Sep 2024 −3.0 pp | Dec 2024 +4.0 pp | Mar 2025 +8.0 pp | Jun 2025 +6.0 pp | Sep 2025 +1.0 pp | Dec 2025 −1.0 pp | Mar 2026 +2.0 pp | Jun 2026 +7.0 pp
- VINDHYATEL: Sep 2021 −3.7 pp | Dec 2021 −0.7 pp | Mar 2022 −6.3 pp | Jun 2022 −5.2 pp | Sep 2022 −4.3 pp | Dec 2022 −2.9 pp | Mar 2023 −0.1 pp | Jun 2023 −3.9 pp | Sep 2023 +1.1 pp | Dec 2023 −2.1 pp | Mar 2024 −2.0 pp | Jun 2024 −2.0 pp | Sep 2024 −2.0 pp | Dec 2024 −1.0 pp | Mar 2025 0.0 pp | Jun 2025 +1.0 pp | Sep 2025 +3.0 pp | Dec 2025 −4.0 pp | Mar 2026 0.0 pp | Jun 2026 —
- PARACABLES: Sep 2021 +0.7 pp | Dec 2021 +0.2 pp | Mar 2022 +0.2 pp | Jun 2022 +2.2 pp | Sep 2022 +2.8 pp | Dec 2022 +3.2 pp | Mar 2023 +2.3 pp | Jun 2023 +3.2 pp | Sep 2023 +1.5 pp | Dec 2023 +1.1 pp | Mar 2024 +2.0 pp | Jun 2024 0.0 pp | Sep 2024 +1.0 pp | Dec 2024 +1.0 pp | Mar 2025 −2.0 pp | Jun 2025 −5.0 pp | Sep 2025 −8.0 pp | Dec 2025 −6.0 pp | Mar 2026 −1.0 pp | Jun 2026 —
- BIRLACABLE: Sep 2021 +0.3 pp | Dec 2021 +2.4 pp | Mar 2022 +0.8 pp | Jun 2022 −2.6 pp | Sep 2022 +2.5 pp | Dec 2022 +0.7 pp | Mar 2023 −1.8 pp | Jun 2023 +1.6 pp | Sep 2023 −2.5 pp | Dec 2023 −0.9 pp | Mar 2024 −5.0 pp | Jun 2024 −3.0 pp | Sep 2024 −1.0 pp | Dec 2024 −1.0 pp | Mar 2025 +1.0 pp | Jun 2025 0.0 pp | Sep 2025 −1.0 pp | Dec 2025 −1.0 pp | Mar 2026 +4.0 pp | Jun 2026 —

## Profit Scale & Acceleration

What the numbers say: Finolex Cables Ltd leads with ₹714 crore of TTM profit, 193.8% above Sterlite Technologies Ltd. Birla Cable Ltd shows ≥100% on the scoring scale (325% uncapped) growth from a ₹17 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Finolex Cables Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Finolex Cables Ltd · ₹714 crore | 193.8% versus #2 · Sterlite Technologies Ltd | 5/8 recent comparable periods | 5/5 companies · 77 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. Finolex Cables Ltd (500144): ₹714 Cr
2. Sterlite Technologies Ltd (STLTECH): ₹243 Cr
3. Vindhya Telelinks Ltd (VINDHYATEL): ₹220 Cr
4. Paramount Communications Ltd (PARACABLES): ₹59 Cr
5. Birla Cable Ltd (BIRLACABLE): ₹17 Cr

### Profit growth — fastest growers
1. Birla Cable Ltd (BIRLACABLE): 100%
2. Sterlite Technologies Ltd (STLTECH): 100%
3. Vindhya Telelinks Ltd (VINDHYATEL): 8.9%
4. Finolex Cables Ltd (500144): 1.9%
5. Paramount Communications Ltd (PARACABLES): -32%

### 20-quarter Net profit history
- 500144: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹137 Cr | Dec 2022 ₹135 Cr | Mar 2023 ₹175 Cr | Jun 2023 ₹160 Cr | Sep 2023 ₹154 Cr | Dec 2023 ₹151 Cr | Mar 2024 ₹186 Cr | Jun 2024 ₹244 Cr | Sep 2024 ₹118 Cr | Dec 2024 ₹147 Cr | Mar 2025 ₹192 Cr | Jun 2025 ₹163 Cr | Sep 2025 ₹163 Cr | Dec 2025 ₹164 Cr | Mar 2026 ₹224 Cr | Jun 2026 —
- STLTECH: Sep 2021 ₹106 Cr | Dec 2021 ₹-140 Cr | Mar 2022 ₹-27 Cr | Jun 2022 ₹-23 Cr | Sep 2022 ₹40 Cr | Dec 2022 ₹47 Cr | Mar 2023 ₹63 Cr | Jun 2023 ₹52 Cr | Sep 2023 ₹32 Cr | Dec 2023 ₹-59 Cr | Mar 2024 ₹-82 Cr | Jun 2024 ₹-48 Cr | Sep 2024 ₹-14 Cr | Dec 2024 ₹-24 Cr | Mar 2025 ₹-40 Cr | Jun 2025 ₹10 Cr | Sep 2025 ₹4 Cr | Dec 2025 ₹-17 Cr | Mar 2026 ₹59 Cr | Jun 2026 ₹197 Cr
- VINDHYATEL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹28 Cr | Mar 2023 ₹101 Cr | Jun 2023 ₹59 Cr | Sep 2023 ₹47 Cr | Dec 2023 ₹69 Cr | Mar 2024 ₹108 Cr | Jun 2024 ₹29 Cr | Sep 2024 ₹24 Cr | Dec 2024 ₹39 Cr | Mar 2025 ₹110 Cr | Jun 2025 ₹59 Cr | Sep 2025 ₹59 Cr | Dec 2025 ₹-1 Cr | Mar 2026 ₹103 Cr | Jun 2026 —
- PARACABLES: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹14 Cr | Mar 2023 ₹14 Cr | Jun 2023 ₹15 Cr | Sep 2023 ₹19 Cr | Dec 2023 ₹22 Cr | Mar 2024 ₹29 Cr | Jun 2024 ₹25 Cr | Sep 2024 ₹20 Cr | Dec 2024 ₹23 Cr | Mar 2025 ₹19 Cr | Jun 2025 ₹18 Cr | Sep 2025 ₹13 Cr | Dec 2025 ₹7 Cr | Mar 2026 ₹21 Cr | Jun 2026 —
- BIRLACABLE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹8 Cr | Mar 2023 ₹13 Cr | Jun 2023 ₹12 Cr | Sep 2023 ₹5 Cr | Dec 2023 ₹4 Cr | Mar 2024 ₹2 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹2 Cr | Dec 2024 ₹1 Cr | Mar 2025 ₹1 Cr | Jun 2025 ₹1 Cr | Sep 2025 ₹1 Cr | Dec 2025 ₹4 Cr | Mar 2026 ₹11 Cr | Jun 2026 —

### 20-quarter Profit growth history
- 500144: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 12% | Dec 2023 12% | Mar 2024 6.3% | Jun 2024 53% | Sep 2024 -23% | Dec 2024 -2.7% | Mar 2025 3.2% | Jun 2025 -33% | Sep 2025 38% | Dec 2025 12% | Mar 2026 17% | Jun 2026 —
- STLTECH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -122% | Sep 2022 -62% | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 -20% | Dec 2023 -226% | Mar 2024 -230% | Jun 2024 -192% | Sep 2024 -144% | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 1,870%
- VINDHYATEL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 144% | Mar 2024 6.9% | Jun 2024 -51% | Sep 2024 -49% | Dec 2024 -43% | Mar 2025 1.9% | Jun 2025 103% | Sep 2025 146% | Dec 2025 -103% | Mar 2026 -6.4% | Jun 2026 —
- PARACABLES: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 54% | Mar 2024 107% | Jun 2024 67% | Sep 2024 5.3% | Dec 2024 4.6% | Mar 2025 -34% | Jun 2025 -28% | Sep 2025 -35% | Dec 2025 -70% | Mar 2026 11% | Jun 2026 —
- BIRLACABLE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -51% | Mar 2024 -85% | Jun 2024 -100% | Sep 2024 -60% | Dec 2024 -75% | Mar 2025 -50% | Jun 2025 — | Sep 2025 -50% | Dec 2025 300% | Mar 2026 1,000% | Jun 2026 —

## Capacity Spending & Returns On It

What the numbers say: There is not enough comparable evidence to name a reliable capex leader.

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

Evidence: No comparable leader | Not enough peers | Not enough history | 0/5 companies · 0 observations

Definition: CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

### CAPEX — largest spenders

### CAPEX intensity — highest reinvestment intensity

### 20-quarter CAPEX history

### 20-quarter CAPEX intensity history

## Debt Load & Balance-Sheet Headroom

What the numbers say: Paramount Communications Ltd has the clearest covered balance-sheet capacity with ₹90 crore and gross debt of ₹123 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Evidence: Finolex Cables Ltd · ₹19 crore | 84.6% versus #2 · Paramount Communications Ltd | Not enough history | 5/5 companies · 66 observations

Definition: Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

### Gross debt — lowest gross debt
1. Finolex Cables Ltd (500144): ₹19 Cr
2. Paramount Communications Ltd (PARACABLES): ₹123 Cr
3. Birla Cable Ltd (BIRLACABLE): ₹133 Cr
4. Vindhya Telelinks Ltd (VINDHYATEL): ₹1.4K Cr
5. Sterlite Technologies Ltd (STLTECH): ₹1.9K Cr

### Net debt — lowest net debt
1. Paramount Communications Ltd (PARACABLES): ₹90 Cr
2. Vindhya Telelinks Ltd (VINDHYATEL): ₹1.4K Cr
3. Sterlite Technologies Ltd (STLTECH): ₹1.6K Cr

### 20-quarter Gross debt history
- 500144: Sep 2021 — | Dec 2021 — | Mar 2022 ₹9 Cr | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹14 Cr | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹18 Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹20 Cr | Jun 2025 — | Sep 2025 ₹22 Cr | Dec 2025 — | Mar 2026 ₹19 Cr | Jun 2026 —
- STLTECH: Sep 2021 ₹3.5K Cr | Dec 2021 ₹3.5K Cr | Mar 2022 ₹3.5K Cr | Jun 2022 ₹3.5K Cr | Sep 2022 ₹3.9K Cr | Dec 2022 — | Mar 2023 ₹3.8K Cr | Jun 2023 ₹3.8K Cr | Sep 2023 ₹3.7K Cr | Dec 2023 — | Mar 2024 ₹3.4K Cr | Jun 2024 ₹3.4K Cr | Sep 2024 ₹2.8K Cr | Dec 2024 ₹2.8K Cr | Mar 2025 ₹1.9K Cr | Jun 2025 ₹1.9K Cr | Sep 2025 ₹1.9K Cr | Dec 2025 ₹1.9K Cr | Mar 2026 ₹1.9K Cr | Jun 2026 —
- VINDHYATEL: Sep 2021 ₹677 Cr | Dec 2021 ₹677 Cr | Mar 2022 ₹571 Cr | Jun 2022 ₹573 Cr | Sep 2022 ₹718 Cr | Dec 2022 ₹718 Cr | Mar 2023 ₹668 Cr | Jun 2023 ₹668 Cr | Sep 2023 ₹771 Cr | Dec 2023 ₹771 Cr | Mar 2024 ₹493 Cr | Jun 2024 ₹493 Cr | Sep 2024 ₹959 Cr | Dec 2024 ₹959 Cr | Mar 2025 ₹1.2K Cr | Jun 2025 ₹1.2K Cr | Sep 2025 ₹1.4K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.4K Cr | Jun 2026 —
- PARACABLES: Sep 2021 ₹194 Cr | Dec 2021 ₹194 Cr | Mar 2022 ₹187 Cr | Jun 2022 ₹187 Cr | Sep 2022 ₹181 Cr | Dec 2022 ₹181 Cr | Mar 2023 ₹160 Cr | Jun 2023 ₹160 Cr | Sep 2023 ₹151 Cr | Dec 2023 ₹151 Cr | Mar 2024 ₹103 Cr | Jun 2024 ₹103 Cr | Sep 2024 ₹22 Cr | Dec 2024 ₹22 Cr | Mar 2025 ₹33 Cr | Jun 2025 ₹33 Cr | Sep 2025 ₹102 Cr | Dec 2025 ₹102 Cr | Mar 2026 ₹123 Cr | Jun 2026 —
- BIRLACABLE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹129 Cr | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹165 Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹111 Cr | Jun 2025 — | Sep 2025 ₹112 Cr | Dec 2025 — | Mar 2026 ₹133 Cr | Jun 2026 —

### 20-quarter Net debt history
- STLTECH: Sep 2021 ₹3.0K Cr | Dec 2021 ₹3.0K Cr | Mar 2022 ₹2.9K Cr | Jun 2022 ₹2.9K Cr | Sep 2022 ₹3.4K Cr | Dec 2022 — | Mar 2023 ₹3.3K Cr | Jun 2023 ₹3.3K Cr | Sep 2023 ₹3.2K Cr | Dec 2023 — | Mar 2024 ₹3.0K Cr | Jun 2024 ₹3.0K Cr | Sep 2024 ₹2.3K Cr | Dec 2024 ₹2.3K Cr | Mar 2025 ₹1.5K Cr | Jun 2025 ₹1.5K Cr | Sep 2025 ₹1.4K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.6K Cr | Jun 2026 —
- VINDHYATEL: Sep 2021 ₹597 Cr | Dec 2021 ₹597 Cr | Mar 2022 ₹567 Cr | Jun 2022 ₹560 Cr | Sep 2022 ₹697 Cr | Dec 2022 ₹697 Cr | Mar 2023 ₹632 Cr | Jun 2023 ₹622 Cr | Sep 2023 ₹741 Cr | Dec 2023 ₹741 Cr | Mar 2024 ₹340 Cr | Jun 2024 ₹340 Cr | Sep 2024 ₹914 Cr | Dec 2024 ₹914 Cr | Mar 2025 ₹1.1K Cr | Jun 2025 ₹1.0K Cr | Sep 2025 ₹1.4K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.4K Cr | Jun 2026 —
- PARACABLES: Sep 2021 ₹178 Cr | Dec 2021 ₹178 Cr | Mar 2022 ₹186 Cr | Jun 2022 ₹173 Cr | Sep 2022 ₹169 Cr | Dec 2022 ₹169 Cr | Mar 2023 ₹132 Cr | Jun 2023 ₹120 Cr | Sep 2023 ₹115 Cr | Dec 2023 ₹115 Cr | Mar 2024 ₹43 Cr | Jun 2024 ₹25 Cr | Sep 2024 ₹-2 Cr | Dec 2024 ₹-2 Cr | Mar 2025 ₹10 Cr | Jun 2025 ₹-7 Cr | Sep 2025 ₹74 Cr | Dec 2025 ₹74 Cr | Mar 2026 ₹90 Cr | Jun 2026 —

## Return On Capital Employed

What the numbers say: Finolex Cables Ltd leads ROCE at 16%, 3.6 percentage points above Paramount Communications Ltd. Birla Cable Ltd has the strongest latest improvement at +4 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: Finolex Cables Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: Finolex Cables Ltd · 16% | 29% versus #2 · Paramount Communications Ltd | Not enough history | 5/5 companies · 45 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. Finolex Cables Ltd (500144): 16%
2. Paramount Communications Ltd (PARACABLES): 12%
3. Birla Cable Ltd (BIRLACABLE): 9.0%
4. Vindhya Telelinks Ltd (VINDHYATEL): 8.2%
5. Sterlite Technologies Ltd (STLTECH): 7.8%

### ROCE change — fastest improvers
1. Birla Cable Ltd (BIRLACABLE): +4.0 pp
2. Sterlite Technologies Ltd (STLTECH): +3.6 pp
3. Vindhya Telelinks Ltd (VINDHYATEL): −0.9 pp
4. Finolex Cables Ltd (500144): −2.0 pp
5. Paramount Communications Ltd (PARACABLES): −8.8 pp

### 20-quarter ROCE history
- STLTECH: Sep 2021 18% | Dec 2021 — | Mar 2022 10% | Jun 2022 — | Sep 2022 4.4% | Dec 2022 — | Mar 2023 16% | Jun 2023 — | Sep 2023 21% | Dec 2023 15% | Mar 2024 6.0% | Jun 2024 3.9% | Sep 2024 -0.8% | Dec 2024 0.9% | Mar 2025 4.1% | Jun 2025 4.9% | Sep 2025 5.6% | Dec 2025 5.2% | Mar 2026 7.7% | Jun 2026 —
- VINDHYATEL: Sep 2021 4.9% | Dec 2021 — | Mar 2022 3.4% | Jun 2022 — | Sep 2022 3.3% | Dec 2022 — | Mar 2023 5.9% | Jun 2023 — | Sep 2023 6.3% | Dec 2023 10% | Mar 2024 5.3% | Jun 2024 8.8% | Sep 2024 4.6% | Dec 2024 7.0% | Mar 2025 4.6% | Jun 2025 8.2% | Sep 2025 4.8% | Dec 2025 8.2% | Mar 2026 3.7% | Jun 2026 —
- PARACABLES: Sep 2021 2.5% | Dec 2021 — | Mar 2022 2.9% | Jun 2022 — | Sep 2022 6.6% | Dec 2022 — | Mar 2023 9.4% | Jun 2023 — | Sep 2023 12% | Dec 2023 19% | Mar 2024 12% | Jun 2024 19% | Sep 2024 14% | Dec 2024 21% | Mar 2025 15% | Jun 2025 18% | Sep 2025 9.5% | Dec 2025 13% | Mar 2026 6.4% | Jun 2026 —

### 20-quarter ROCE change history
- STLTECH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −13.7 pp | Dec 2022 — | Mar 2023 +6.4 pp | Jun 2023 — | Sep 2023 +16.7 pp | Dec 2023 — | Mar 2024 −10.4 pp | Jun 2024 — | Sep 2024 −21.9 pp | Dec 2024 −13.9 pp | Mar 2025 −1.9 pp | Jun 2025 +1.0 pp | Sep 2025 +6.4 pp | Dec 2025 +4.3 pp | Mar 2026 +3.6 pp | Jun 2026 —
- VINDHYATEL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.6 pp | Dec 2022 — | Mar 2023 +2.5 pp | Jun 2023 — | Sep 2023 +3.0 pp | Dec 2023 — | Mar 2024 −0.6 pp | Jun 2024 — | Sep 2024 −1.7 pp | Dec 2024 −3.1 pp | Mar 2025 −0.7 pp | Jun 2025 −0.6 pp | Sep 2025 +0.2 pp | Dec 2025 +1.2 pp | Mar 2026 −0.9 pp | Jun 2026 —
- PARACABLES: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +4.1 pp | Dec 2022 — | Mar 2023 +6.5 pp | Jun 2023 — | Sep 2023 +5.7 pp | Dec 2023 — | Mar 2024 +3.0 pp | Jun 2024 — | Sep 2024 +2.1 pp | Dec 2024 +2.5 pp | Mar 2025 +2.8 pp | Jun 2025 −0.4 pp | Sep 2025 −4.9 pp | Dec 2025 −7.7 pp | Mar 2026 −8.8 pp | Jun 2026 —

## Valuation Against Growth & Quality

What the numbers say: Sterlite Technologies Ltd has the lowest comparable Guarded PEG at 1.6×. Only 1 of 5 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: Sterlite Technologies Ltd · 1.6× | Not enough peers | 2/8 recent comparable periods | 1/5 companies · 1 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

### Guarded PEG — lowest PEG
1. Sterlite Technologies Ltd (STLTECH): 1.6

### P/E — lowest P/E
1. Vindhya Telelinks Ltd (VINDHYATEL): 10.2
2. Finolex Cables Ltd (500144): 21.4
3. Paramount Communications Ltd (PARACABLES): 33.8
4. Birla Cable Ltd (BIRLACABLE): 35.4
5. Sterlite Technologies Ltd (STLTECH): 123.0

### 20-quarter Guarded PEG history
- STLTECH: Sep 2021 1.6 | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter P/E history
- 500144: Sep 2021 15.0 | Dec 2021 14.8 | Mar 2022 10.8 | Jun 2022 9.6 | Sep 2022 11.4 | Dec 2022 15.4 | Mar 2023 22.4 | Jun 2023 26.1 | Sep 2023 31.4 | Dec 2023 25.4 | Mar 2024 23.9 | Jun 2024 36.6 | Sep 2024 30.0 | Dec 2024 26.1 | Mar 2025 20.1 | Jun 2025 20.9 | Sep 2025 20.2 | Dec 2025 17.7 | Mar 2026 18.1 | Jun 2026 —
- STLTECH: Sep 2021 22.4 | Dec 2021 19.9 | Mar 2022 28.5 | Jun 2022 39.3 | Sep 2022 39.8 | Dec 2022 138.2 | Mar 2023 26.1 | Jun 2023 17.6 | Sep 2023 17.1 | Dec 2023 17.7 | Mar 2024 30.0 | Jun 2024 37.6 | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 -76.7 | Sep 2025 -112.8 | Dec 2025 — | Mar 2026 153.8 | Jun 2026 —
- VINDHYATEL: Sep 2021 4.3 | Dec 2021 4.8 | Mar 2022 5.0 | Jun 2022 5.6 | Sep 2022 9.1 | Dec 2022 13.0 | Mar 2023 14.8 | Jun 2023 11.8 | Sep 2023 12.8 | Dec 2023 11.0 | Mar 2024 9.6 | Jun 2024 9.9 | Sep 2024 11.2 | Dec 2024 9.8 | Mar 2025 7.5 | Jun 2025 10.0 | Sep 2025 7.3 | Dec 2025 6.3 | Mar 2026 5.2 | Jun 2026 —
- PARACABLES: Sep 2021 60.8 | Dec 2021 51.7 | Mar 2022 36.8 | Jun 2022 25.9 | Sep 2022 21.4 | Dec 2022 24.9 | Mar 2023 15.6 | Jun 2023 14.3 | Sep 2023 23.1 | Dec 2023 30.5 | Mar 2024 22.8 | Jun 2024 22.9 | Sep 2024 25.4 | Dec 2024 24.8 | Mar 2025 15.4 | Jun 2025 19.6 | Sep 2025 16.9 | Dec 2025 16.3 | Mar 2026 16.1 | Jun 2026 —
- BIRLACABLE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 15.4 | Sep 2023 24.2 | Dec 2023 22.7 | Mar 2024 20.3 | Jun 2024 32.7 | Sep 2024 72.2 | Dec 2024 86.0 | Mar 2025 80.9 | Jun 2025 112.1 | Sep 2025 77.1 | Dec 2025 84.0 | Mar 2026 44.5 | Jun 2026 —

## Enterprise Value & Book Value

What the numbers say: Vindhya Telelinks Ltd leads both ev/ebitda at 5.5× and p/bv at 0.53×.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Evidence: Vindhya Telelinks Ltd · 5.5× | 38.9% versus #2 · Paramount Communications Ltd | 0/8 recent comparable periods | 5/5 companies · 89 observations

Definition: EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

### EV/EBITDA — lowest EV/EBITDA
1. Vindhya Telelinks Ltd (VINDHYATEL): 5.5
2. Paramount Communications Ltd (PARACABLES): 9.0
3. Birla Cable Ltd (BIRLACABLE): 12.0
4. Finolex Cables Ltd (500144): 13.0
5. Sterlite Technologies Ltd (STLTECH): 50.2

### P/BV — lowest P/BV
1. Vindhya Telelinks Ltd (VINDHYATEL): 0.5
2. Birla Cable Ltd (BIRLACABLE): 2.1
3. Paramount Communications Ltd (PARACABLES): 2.4
4. Finolex Cables Ltd (500144): 2.5
5. Sterlite Technologies Ltd (STLTECH): 12.1

### 20-quarter EV/EBITDA history
- 500144: Sep 2021 10.3 | Dec 2021 10.1 | Mar 2022 7.5 | Jun 2022 6.9 | Sep 2022 8.2 | Dec 2022 11.2 | Mar 2023 16.5 | Jun 2023 18.8 | Sep 2023 22.6 | Dec 2023 18.4 | Mar 2024 17.1 | Jun 2024 26.1 | Sep 2024 21.6 | Dec 2024 18.9 | Mar 2025 14.5 | Jun 2025 15.0 | Sep 2025 14.4 | Dec 2025 12.8 | Mar 2026 13.0 | Jun 2026 —
- STLTECH: Sep 2021 11.3 | Dec 2021 10.9 | Mar 2022 11.7 | Jun 2022 10.1 | Sep 2022 13.5 | Dec 2022 14.8 | Mar 2023 8.8 | Jun 2023 7.7 | Sep 2023 7.9 | Dec 2023 7.5 | Mar 2024 7.7 | Jun 2024 13.4 | Sep 2024 16.7 | Dec 2024 18.6 | Mar 2025 14.9 | Jun 2025 18.4 | Sep 2025 13.9 | Dec 2025 12.2 | Mar 2026 19.1 | Jun 2026 50.2
- VINDHYATEL: Sep 2021 4.0 | Dec 2021 4.2 | Mar 2022 4.4 | Jun 2022 5.3 | Sep 2022 7.5 | Dec 2022 9.7 | Mar 2023 10.1 | Jun 2023 8.2 | Sep 2023 8.8 | Dec 2023 8.0 | Mar 2024 7.0 | Jun 2024 7.0 | Sep 2024 7.0 | Dec 2024 7.6 | Mar 2025 6.3 | Jun 2025 6.0 | Sep 2025 6.1 | Dec 2025 6.0 | Mar 2026 5.5 | Jun 2026 —
- PARACABLES: Sep 2021 21.8 | Dec 2021 21.0 | Mar 2022 17.7 | Jun 2022 16.3 | Sep 2022 16.5 | Dec 2022 19.9 | Mar 2023 14.2 | Jun 2023 15.5 | Sep 2023 22.6 | Dec 2023 32.9 | Mar 2024 25.2 | Jun 2024 24.2 | Sep 2024 25.1 | Dec 2024 20.7 | Mar 2025 11.5 | Jun 2025 13.4 | Sep 2025 9.8 | Dec 2025 9.8 | Mar 2026 9.0 | Jun 2026 —
- BIRLACABLE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 9.3 | Sep 2023 13.9 | Dec 2023 13.3 | Mar 2024 11.4 | Jun 2024 15.3 | Sep 2024 22.8 | Dec 2024 20.1 | Mar 2025 15.0 | Jun 2025 19.6 | Sep 2025 15.1 | Dec 2025 15.1 | Mar 2026 12.0 | Jun 2026 —

### 20-quarter P/BV history
- 500144: Sep 2021 2.2 | Dec 2021 2.3 | Mar 2022 1.6 | Jun 2022 1.7 | Sep 2022 1.8 | Dec 2022 2.1 | Mar 2023 3.2 | Jun 2023 3.4 | Sep 2023 3.9 | Dec 2023 3.6 | Mar 2024 3.3 | Jun 2024 5.5 | Sep 2024 4.5 | Dec 2024 3.5 | Mar 2025 2.7 | Jun 2025 3.0 | Sep 2025 2.3 | Dec 2025 2.1 | Mar 2026 2.2 | Jun 2026 —
- STLTECH: Sep 2021 4.2 | Dec 2021 4.0 | Mar 2022 3.1 | Jun 2022 2.1 | Sep 2022 2.4 | Dec 2022 2.6 | Mar 2023 2.2 | Jun 2023 2.2 | Sep 2023 2.2 | Dec 2023 1.9 | Mar 2024 1.5 | Jun 2024 1.9 | Sep 2024 1.8 | Dec 2024 1.4 | Mar 2025 1.0 | Jun 2025 2.1 | Sep 2025 2.9 | Dec 2025 2.5 | Mar 2026 4.4 | Jun 2026 13.2
- VINDHYATEL: Sep 2021 0.5 | Dec 2021 0.4 | Mar 2022 0.4 | Jun 2022 0.4 | Sep 2022 0.5 | Dec 2022 0.6 | Mar 2023 0.6 | Jun 2023 0.7 | Sep 2023 0.8 | Dec 2023 0.7 | Mar 2024 0.7 | Jun 2024 0.8 | Sep 2024 0.7 | Dec 2024 0.6 | Mar 2025 0.4 | Jun 2025 0.5 | Sep 2025 0.4 | Dec 2025 0.4 | Mar 2026 0.3 | Jun 2026 —
- PARACABLES: Sep 2021 1.2 | Dec 2021 1.4 | Mar 2022 1.1 | Jun 2022 1.1 | Sep 2022 1.6 | Dec 2022 3.1 | Mar 2023 3.0 | Jun 2023 3.4 | Sep 2023 4.1 | Dec 2023 5.3 | Mar 2024 4.7 | Jun 2024 4.5 | Sep 2024 4.2 | Dec 2024 3.6 | Mar 2025 2.2 | Jun 2025 2.7 | Sep 2025 1.9 | Dec 2025 1.6 | Mar 2026 1.2 | Jun 2026 —
- BIRLACABLE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 1.9 | Dec 2022 2.1 | Mar 2023 1.9 | Jun 2023 2.2 | Sep 2023 4.4 | Dec 2023 3.5 | Mar 2024 3.0 | Jun 2024 3.2 | Sep 2024 3.0 | Dec 2024 2.4 | Mar 2025 1.5 | Jun 2025 2.2 | Sep 2025 1.9 | Dec 2025 1.6 | Mar 2026 1.2 | Jun 2026 —

## Market action

Sterlite Technologies Ltd has the strongest one-year price move in Cables - Telecom at +349.5%. It also leads on Mansfield relative strength against NIFTY at +128.6%. 5 of 5 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.

### Strongest one-year price performers
1. Sterlite Technologies Ltd (STLTECH): 350%
2. Paramount Communications Ltd (PARACABLES): 9.1%
3. Vindhya Telelinks Ltd (VINDHYATEL): 6.1%
4. Finolex Cables Ltd (500144): 4.3%
5. Birla Cable Ltd (BIRLACABLE): 2.6%

### Strongest relative strength versus NIFTY 500
1. Sterlite Technologies Ltd (STLTECH): 129%
2. Paramount Communications Ltd (PARACABLES): 39%
3. Vindhya Telelinks Ltd (VINDHYATEL): 21%
4. Finolex Cables Ltd (500144): 17%
5. Birla Cable Ltd (BIRLACABLE): 15%

## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 2 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear.
- Thin comparisons: Capital expenditure, Valuation have fewer than three usable current readings.

## Every company
- Sterlite Technologies Ltd (STLTECH) — market value ₹29.0K Cr; latest fundamentals Jun 2026
- Finolex Cables Ltd (500144) — market value ₹15.3K Cr; latest fundamentals Mar 2026
- Vindhya Telelinks Ltd (VINDHYATEL) — market value ₹2.2K Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures
- Paramount Communications Ltd (PARACABLES) — market value ₹2.0K Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures
- Birla Cable Ltd (BIRLACABLE) — market value ₹592 Cr; latest fundamentals Mar 2026

## Source standing of each company

Cross-checked: 1. Unverified: 4. Withheld: 0. Graded companies: 5.

2 of 5 companies draw at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear.

- UNVERIFIED | VINDHYATEL | Vindhya Telelinks Ltd | too little overlapping reported history to cross-check the second feed
- UNVERIFIED | PARACABLES | Paramount Communications Ltd | too little overlapping reported history to cross-check the second feed

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-07-24.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### What is the Nifty Cables - Telecom index?

The Nifty Cables - Telecom index tracks India's listed Cables - Telecom companies as a single basket. This page follows the same 5 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Cables - Telecom sector rather than to its largest constituent. Figures are as of Jun 2026.

### Which are the best Cables - Telecom stocks in India?

Ranked by this page's four-factor score, Sterlite Technologies Ltd places first among 5 listed Cables - Telecom companies, followed by Finolex Cables Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

### How many Cables - Telecom stocks are listed in India?

This comparison covers 5 listed Cables - Telecom companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

### Which Cables - Telecom company is the biggest?

Finolex Cables Ltd is the largest, with trailing-twelve-month revenue of ₹6,322 crore, ahead of Sterlite Technologies Ltd at ₹5,642 crore. That covers 5 of 5 companies with comparable reporting through Mar 2026.

### Which Cables - Telecom company is growing fastest?

Sterlite Technologies Ltd has the fastest revenue growth at 36.2% year on year, across 5 of 5 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

### Which Cables - Telecom company has the best profit margins?

Sterlite Technologies Ltd has the highest operating margin at 20%, from 5 of 5 comparable companies. Sterlite Technologies Ltd shows the biggest recent improvement, at +7 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Cables - Telecom company makes the most profit?

Finolex Cables Ltd earns the most, at ₹714 crore of trailing-twelve-month net profit, from 5 of 5 comparable companies. Birla Cable Ltd has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Cables - Telecom company earns the highest return on capital?

Finolex Cables Ltd leads on return on capital employed at 16%, across 5 of 5 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Cables - Telecom stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — Sterlite Technologies Ltd screens cheapest at 1.6×. Only 1 of 5 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Which Cables - Telecom company has the strongest balance sheet?

Finolex Cables Ltd carries the lowest comparable gross debt at ₹19 crore, from 5 of 5 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

### Which Cables - Telecom stock has the strongest price momentum?

Sterlite Technologies Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Cables - Telecom company scores highest for research priority?

Sterlite Technologies Ltd scores 56.6 out of 100 with 90% evidence confidence, from 29 points on growth and earnings, 4.6 on capital efficiency, 9 on valuation and 14 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Cables - Telecom companies does this comparison cover, and over what period?

It compares 5 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Cables - Telecom sector?

The 5 Cables - Telecom companies on this page carry ₹49,114 crore of combined market value. Sterlite Technologies Ltd is the largest at ₹28,992 crore, about 59% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.

### What is the Cables - Telecom sector's P/E ratio?

The median price-to-earnings ratio across the 5 Cables - Telecom companies on this page is 33.8×, measured on the 5 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-29.

### How is the Cables - Telecom sector performing?

5 of the 5 covered Cables - Telecom companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-07-29.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Narrative sector analysis: https://www.sectoralpha.in/sectors/cables-telecom