Finolex Industries posts strong results for Q1 FY22
Finolex Industries Limited (NSE:FINPIPE|BSE:500940), India’s largest and only backward integrated manufacturer of PVC Pipes and Fittings, at its Board Meeting held today announced unaudited financial results for the first quarter ended June 30, 2021.
Q1 FY22 Highlights:
· Total income from operations was Rs 965.72 Cr for Q1FY22 – up 71.9% against Rs 561.89 Cr in Q1FY21.
· Volumes in Pipes and Fittings segment grew 5.5% to 55,819 MT in Q1FY22 against 52,911 MT in Q1FY21
· Volumes in PVC Resin segment grew 10.6% to 50,249 MT in Q1FY22 against 45,435 MT in Q1FY21
· EBITDA stood at Rs 209.51 Cr for Q1FY22 – up 137.4% against Rs 88.24 Cr for Q1FY21.
· Profit after tax was at Rs 146.80 Cr for Q1FY22 – up 166.3% against Rs 55.11Cr for Q1FY21.
Commenting on the results, Mr. Prakash P. Chhabria, Executive Chairman, Finolex Industries Ltd. said, “The Company has reported robust set of financials, despite the overall business environment remaining subdued due to the 2nd wave of the pandemic. After reaching all-time highs, the PVC prices seem to be cooling off, which is a positive sign for further opening up of the market. We remain committed to our long-term growth goals and retain our focus on profitability built on a sustainable business, ensuring long-term value to all our stakeholders.”
Profit and Loss Account Summary Table: (INR-Cr)