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Disappoints on profitability, assign REDUCE! Result Synopsis Finolex Industries Ltd reported a poor performance in Q2FY25 wherein revenue declined by 6%YoY. Pipe revenue declined by 4%YoY wherein volumes grew by 10%YoY driven by higher volumes from plumbing segment & ASP declined by 13%YoY to Rs118/Kg. Though volumes for pipes increased, profitability took a sharp knock and registered an EBIT loss of Rs390Mn Vs profit of Rs680Mn in Q2FY24, largely owing to reduction in ASP. PVC reve...
Reduce Finolex Industries Ltd For Target Rs 270 By Yes Securities Ltd
Below the Quote on Budget Reaction by Mr Prakash Chhabria, Executive Chairman, Finolex Industries Ltd "The Union Budget 2024 presented by Finance Minister Nirmala Sitharaman sets a clear roadmap for India's inclusive growth. The government's focus on manufacturing, agriculture, and infrastructure development is commendable. The credit guarantee scheme for MSMEs and the establishment of e-commerce export hubs will significantly boost our industrial capabilities. For the ...
Quote on Budget Reaction by Mr Prakash Chhabria, Executive Chairman, Finolex Industries Ltd
Finolex Industries Limited, India's leading manufacturer of PVC pipes and fittings, proudly announced its continued participation in the Pandharpur Wari Yatra for 2024, extending its support to this significant cultural and spiritual event in Maharashtra for more than 25 years. The Pandharpur Wari, an 800-year-old tradition, saw millions of devotees undertake a 21-day pilgrimage on foot to the Vithoba temple in Pandharpur. As part of its ongoing commitment to this revered event, Finole...
Finolex Industries Continued Its Long-Standing Tradition of Supporting Pandharpur Wari Yatra in 2024
Volume growth to be ~10%CAGR; maintain SELL! Result Synopsis Finolex Industries Ltd (FNXP) registered a revenue growth of 8%YoY & 21%QoQ. Pipe division reported the highest-ever quarterly volumes of 100,171Te, a growth of 23%YoY & QoQ. ASP declined on a sequential basis by Rs4/Kg to Rs118/Kg while EBIT/Kg came in at Rs13.3 compared to Rs9.1 in Q3FY24. Resin segment volumes grew by 19%YoY & 58%QoQ (2-year CAGR stood at -7%), ASP stood at Rs73/Kg Vs Rs86/Rs73 in Q4FY23/Q3FY24...
SELL Finolex Industries Ltd. For Target Rs. 225 - Yes Securities
Finolex Industries Limited, a leading player in the Indian PVC pipes and fittings industry, and its CSR partner, the Mukul Madhav Foundation, proudly announce their association as Title Sponsor of the 10th Edition of the SENSE International Cyclothon – Messengers on Cycles. This event aims to raise awareness about deafblindness and commemorate the birthday of...
Cycling for a Cause: Finolex Industries Limited and MMF Lead the Charge in Deafblindness Awareness
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 i...
Finolex Industries closes Q4FY24 on a strong note with a ~ 23% volume growth
Result Synopsis FNXP registered strong volumes of 81,312Te, a degrowth of 10%YoY (high-base) & a robust growth of 29%QoQ (3-year CAGR stood at 14%), driven by plumbing & sanitation pipes. Pipes ASP declined to Rs122/Kg from Rs136/Kg in the previous quarter owing to fall in PVC resin prices. Consequently, EBIT/Kg came in at Rs9.1 as against Rs10.7 in Q2FY24. Resin biz continued to remain under pressure wherein volumes declined by 32%YoY & grew by 17%QoQ (low base). The ASP of th...
Sell Finolex Industries Ltd For Target Rs. 185 By Yes Securities
Below the budget reaction quote to the Budget 2024, on behalf of Mr. Ajit Venkataraman, MD, Finolex Industries Ltd. "We applaud Finance Minister Smt. Nirmala Sitharaman for presenting a visionary Interim Budget 2024, setting the stage for an inclusive development. The significant focus on infrastructure and housing, especially the PM Awas Yojana Grameen, achieving 3 crore houses and planning 2 crore more in the next 5 years, resonates with Finolex Industries' commit...
Interim Budget 2024 Reaction quote by Mr. Ajit Venkataraman, Managing Director, Finolex Industries
Finolex Industries Limited is a name that has become synonymous with quality Pipes & Fittings over the last four decades. Steadily growing with committed investments in backward and forward integrations. Their formidable reputation in both urban and rural markets is testimony to this obsessive commitment. In a recent development, the company revealed a new logo that...
Finolex Industries unveils new logo, marking the legacy brand`s next era
Result Synopsis FNXP?s reported benign volume growth of 6%YoY & degrowth of 32%QoQ to 62,914Te for Pipe segment. Strong growth in pluming segment aided the volume growth while declining resin prices encouraged dealers to maintain low-level of inventory in agri-segment which is more price sensitive market. Volumes of Non-Agri to total pipes & fittings for the quarter stood at 40% Vs 37% in Q2FY23. Pipes realization came in at Rs136/kg as compared to RsRs135/Rs125 in Q2FY23/Q1FY24 respec...
Sell Finolex Industries Ltd For Target Rs.164- Yes Securities Ltd
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