Conference Call with Finolex Industries Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Plastic Products Company Finolex Industries announced Q1FY24 results: Total income from operations was Rs 1,179.17 crore for Q1FY24 – down 0.89% against Rs 1,189.81 crore in Q1FY23. Volume in Pipes & Fittings segment increased by 28.10% to 92,181 MT in Q1FY24 against 71,960 MT in Q1FY23. Volume in PVC Resin segment was down 26.57% to 46,074 MT in Q1FY24 against 62,746 MT in Q1FY23. EBITDA stood at Rs 152.47 crore for Q1FY24 against Rs 125.91 crore for Q1FY23, up 21.09% on a YoY basis. PAT was up 10.78% on a YoY basis to Rs 110.88 crore in Q1FY24 against Rs 100.09 crore in Q1FY23. Commenting on the quarterly results, Prakash P. Chhabria, Executive Chairman, Finolex Industries said, “Overall economic recovery in both the rural and the urban segments has led to a strong demand which in turn, is driving volume growth in pipes and fittings segment. Despite global backdrops, the Indian economy strongly places itself with robust domestic consumption-led growth. This, we believe will benefit the overall industry. Finolex Pipes with its strong position and brand recognition in the market is well poised to grab these growth opportunities.” Result PDF