Bengaluru – July 29, 2024: Finolex Industries Limited (NSE:FINPIPE|BSE:500940) at its Board Meeting held today announced unaudited financial results for the first quarter ended June 30, 2024.
Key Financial Highlights (Standalone): (INR- Cr)
|
Rs. In Crores |
Q1 FY25 |
Q1 FY24 |
% Change |
|
Total Income from operations |
1,140.49 |
1,179.17 |
-3.28% |
|
EBITDA |
206.65 |
152.47 |
35.53% |
|
EBITDA % |
18.12% |
12.93% |
|
|
Depreciation |
26.08 |
34.39 |
|
|
Profit/ (loss) before interest & tax |
180.57 |
118.08 |
52.92% |
|
EBIT % |
15.83% |
10.01% |
|
|
Finance costs |
6.65 |
9.02 |
|
|
Other Income |
54.90 |
40.26 |
|
|
Profit before tax excluding exceptional item gain |
228.82 |
149.32 |
53.24% |
|
PBT % |
20.06% |
12.66% |
|
|
Exceptional item gain |
416.99 |
– |
|
|
Profit before tax including exceptional item gain |
645.81 |
149.32 |
|
|
Tax |
140.61 |
38.44 |
|
|
Profit after tax including exceptional item gain |
505.20 |
110.88 |
355.64% |
|
PAT % |
44.30% |
9.40% |
|
Sales volume in MT
|
PVC Resin (External) |
1,753 |
2,479 |
-29.28% |
|
PVC Resin (Including inter Segment) |
69,625 |
46,074 |
51.11% |
|
Pipes and Fittings |
90,620 |
92,181 |
-1.69% |
Q1 FY25 Highlights:
- Total income from operations was down 3.28% to Rs 1,140.49 Cr for Q1FY25 against
Rs 1,179.17 Cr in Q1FY24. - Volume in Pipes & Fittings segment decreased by 1.69% to 90,620 MT in Q1FY25 against 92,181 MT in Q1FY24.
- Volume in PVC Resin segment was up 51.11% to 69,625 MT in Q1FY25 against 46,074 MT in Q1FY24.
- EBITDA stood at Rs 206.65 Cr for Q1FY25, up 35.53% compared to the EBITDA of Rs 152.47 Cr for Q1FY24.
- PAT stood at Rs 505.20 Cr (Including exceptional item of Rs. 416.99 Cr) in Q1FY25 against Rs 110.88 Cr in Q1FY24.
Commenting on the quarterly results, Mr. Prakash P. Chhabria, Executive Chairman, Finolex Industries Limited said, “Operating performance of the Company improved due to growth in the plumbing and sanitation segment and increase in PVC pricing. Demand remained stable during the quarter with higher growth seen from the non-agri (urban) segment compared to agri segment. The company’s continuous efforts to penetrate into the non-agri segment will reflect in improved earnings performance going forward”
