Pipes manufacturer Finolex Industries Announced Q1FY23 results: Total income from operations was Rs 1,189.81 crore for Q1FY23 – up 23.3% against Rs 965.37 crore in Q1FY22. Volume in Pipes & Fittings segment was up 28.9% to 71,960 MT in Q1FY23 against 55,819 MT in Q1FY22 EBITDA stood at Rs 125.91 crore for Q1FY23 – down 39.9% against Rs 209.51 crore for Q1FY22. Profit after tax was at Rs 100.09 crore for Q1FY23 – down 31.8% against Rs 146.80 crore for Q1FY22 Commenting on the quarterly results, Mr. Prakash P. Chhabria, Executive Chairman, Finolex Industries Limited said, “The move towards normalization of PVC price after a 2-year long period of elevated PVC prices is positive for the industry. This should bolster demand, open the markets further and provide the required boost for markets to reach pre-covid levels. This is reflective in the strong volume growth during the quarter." Result PDF
Conference Call with Finolex Industries Management and Analysts on Q4FY22 Performance and Outlook. Listen to the full earnings transcript.
Plastic Products company Finolex Industries declares Q4FY22 result: Finolex Industries reports the highest ever operating PBT of Rs 1,009 cr for FY22 backed by volume growth Reports PAT of Rs. 494 Cr for Q4 FY22 and Rs. 1,053 Cr for FY22 Net Revenue is up 34% at Rs. 4,647.32 Cr Q4 FY22 Highlights: Total income from operations was Rs 1,594.57 Cr for Q4FY22 – up 27.7% against Rs 1,249.08 Cr in Q4FY21. Volume in Pipes & Fittings segment was up 30.5% to 78,629 MT in Q4FY22 against 60,232 MT in Q4FY21 EBITDA before exceptional items stood at Rs 264.66 Cr for Q4FY22 – down 35.5% against Rs 410.05 Cr for Q4FY21. Profit after tax was at Rs 493.80 Cr for Q4FY22 – up 66.1% against Rs 297.34 Cr for Q4FY21. FY22 Highlights: Total income from operations was Rs 4,647.32 Cr for FY22 – up 34.2% against Rs 3,462.27 Cr in FY21. Volume in Pipes & Fittings segment grew 11.7% to 2,36,895 MT in FY22 against 2,12,060MT in FY21 EBITDA before exceptional items stood at Rs 1,023.71 Cr for FY22 – up 3.5% against Rs 989.29 Cr for FY21. Profit after tax was at Rs 1,053.47 Cr for FY22 – up 66.1% against Rs 728.01 Cr for FY21. Commenting on this commendable feat, Mr. Prakash P. Chhabria, Executive Chairman, Finolex Industries Limited said, “Our 40th financial year has been a stellar one. Our teams have delivered a great year, despite the challenging conditions. This has only been made possible by the engine that drives our growth - the Finolex Parivaar. Each member, has pushed themselves and their colleagues to excel, taking the success of Finolex as their own personal success.” Result PDF