Finolex Industries closes Q4FY24 on a strong note with a ~ 23% volume growth
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Finolex Industries Limited (NSE: FINPIPE|BSE:500940) at its Board Meeting held today announced unaudited financial results for the fourth quarter ended Mar 31, 2024.
Key Financial Highlights (Standalone): (INR- Cr)
Q4 FY24 Highlights:
* Total income from operations was up 8.27% to Rs 1,235.42 Cr for Q4FY24 against
Rs 1,141.06 Cr 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 Cr for Q4FY24, down 3.91% compared to the EBITDA of Rs 217.43 Cr for Q4FY23.
* PAT increased by 1.95% to Rs 161.43 Cr in Q4FY24 against Rs 158.35 Cr in Q4FY23.
Sales volume in MT
FY 2024 Highlights:
* Total income from operations was Rs 4,317.43 Cr for FY24 – down 1.81% against Rs 4,397.05 Cr 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 FY 24 stood at Rs 584.85 Cr for FY24 against Rs 292.54 Cr for FY23.
* Profit after tax increased to Rs 455.30 Cr in FY24 compared to Rs 236.59 Cr in FY23.
Commenting on the quarterly results, Mr. 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.”
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