Conference Call with Finolex Industries Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
Plastic Products company Finolex Industries announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Total income from operations was up 8.27% to Rs 1,235.42 crore for Q4FY24 against Rs 1,141.06 crore in Q4FY23. Volume in Pipes & Fittings segment increased by 22.98% to 1,00,171 MT in Q4FY24 against 81,452 MT in Q4FY23. Volume in PVC Resin segment was up 19.07% to 69,215 MT in Q4FY24 against 58,132 MT in Q4FY23. EBITDA stood at Rs 208.93 crore for Q4FY24, down 3.91% compared to the EBITDA of Rs 217.43 crore for Q4FY23. PAT increased by 1.95% to Rs 161.43 crore in Q4FY24 against Rs 158.35 crore in Q4FY23. FY24 Financial Highlights: Total income from operations was Rs 4,317.43 crore for FY24 – down 1.81% against Rs 4,397.05 crore in FY23. Volume in Pipes & Fittings segment grew 11.07% to 3,36,577 MT in FY24 against 3,03,026 MT in FY23. Volume in Resin segment decreased by 17.98% to 1,96,542 MT in FY2024 against 2,39,638 MT in FY 23 EBITDA for FY24 stood at Rs 584.85 crore for FY24 against Rs 292.54 crore for FY23. Profit after tax increased to Rs 455.30 crore in FY24 compared to Rs 236.59 crore in FY23. Commenting on the quarterly results, Prakash P. Chhabria, Executive Chairman, Finolex Industries Limited said, “PVC prices remained stable during the second half of the year, leading to a healthy demand. Our operating performance during the year has been robust and with the company’s increased focus on the plumbing and sanitation segment, the same is expected to improve further.” Result PDF