Conference Call with Finolex Industries Ltd. Management and Analysts on Q2FY23 Performance and Outlook. Listen to the full earnings transcript.
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