Plastic Products company Finolex Industries declares Q3FY22 result: Finolex Industries reports PAT of Rs. 178 Cr for Q3 FY22 9MFY22 Net Revenue is up 38% at Rs. 3,053.92 Cr and EBITDA increases 30% to Rs. 753.41 Cr Total income from operations was Rs 1,005.25 Cr for Q3FY22 – down 5.7% against Rs 1,066.06 Cr in Q3FY21. Volume in Pipes & Fittings segment was down 15.0% to 46,994 MT in Q3FY22 against 55,299 MT in Q3FY21 EBITDA stood at Rs 241.89 Cr for Q3FY22 – down 30.1% against Rs 346.26 Cr for Q3FY21. Profit after tax was at Rs 177.77 Cr for Q3FY22 – down 30.5% against Rs 255.86 Cr for Q3FY21 Total income from operations was Rs 3,053.92 Cr for 9MFY22 – up 38% against Rs 2,213.50Cr in 9MFY21. Volume in Pipes & Fittings segment grew 4.2% to 1,58,266 MT in 9MFY22 against 1,51,828 MT in 9MFY21 EBITDA stood at Rs 753.41 Cr for 9MFY22 – up 30.1% against Rs 579.26 Cr for 9MFY21. Profit after tax was at Rs 559.67 Cr for 9MFY22 – up 29.9% against Rs 430.70Cr for 9MFY21.. Commenting on this commendable feat, Mr. Prakash P. Chhabria, Executive Chairman, Finolex Industries Limited said, “After a long upward trajectory, the global PVC prices have started to cool down and slightly flatten. Coupled to this, the quarter witnessed demand slowdown of PVC pipes due to weather disruptions. The demand is expected to improve with the season opening up and easing of supply chain bottlenecks.” Result PDF
Financial Highlights: Q2 FY22: Total income from operations was Rs 1,082.95 Cr for Q2FY22 – up 84.9% against Rs 585.55 Cr in Q2FY21. Volume in Pipes & Fittings segment grew 27.1% to 55,453 MT in Q2FY22 against 43,618 MT in Q2FY21 EBITDA stood at Rs 301.46 Cr for Q2FY22 – up 108.3% against Rs 144.76 Cr for Q2FY21. Profit after tax was at Rs 235.08 Cr for Q2FY22 – up 96.4% against Rs 119.72 Cr for Q2FY21. H1 FY22: Total income from operations was Rs 2,048.67 Cr for H1FY22 – up 78.5% against Rs 1,147.44 Cr in H1FY21. Volume in Pipes & Fittings segment grew 15.3% to 1,11,272 MT in H1FY22 against 96,529 MT in H1FY21 EBITDA stood at Rs 510.98 Cr for H1FY22 – up 119.3% against Rs 233.02 Cr for H1FY21. Profit after tax was at Rs 381.88 Cr for H1FY22 – up 118.4% against Rs174.83Cr for H1FY21. Commenting on this commendable feat, Mr. Prakash P. Chhabria, Executive Chairman, Finolex Industries Limited said, “The Company has demonstrated excellent growth on all operating parameters. Double digit percentage improvement in terms of the volumes indicates the resilience of business. Moreover, the gradual shift in sales mix in favour of higher value added Plumbing and Sanitation product basket is in line with our long term goal to have a more balanced product mix between the segments that we cater.” Result PDF