Finolex Industries reports Q2 FY25 results

2024-11-21 04:30:00 Business

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Pune, 25 Oct 2024: Finolex Industries Limited (NSE:FINPIPE|BSE:500940) at its Board Meeting held today announced unaudited financial results for the second quarter ended Sept 30, 2024.

Q2 FY25 Highlights:

Volume in Pipes & Fittings segment increased by 10% to 69,341 MT against 62,914 MT in Q2FY24.
Total income from operations was ₹ 828.43 Cr down 6% against ₹ 883.15 Cr in Q2FY24.
Volume in PVC Resin segment increased by 7% to 40,236 MT against 37,516 MT in Q2FY24.
EBITDA stood at ₹ 10.57 Cr against the EBITDA of ₹ 102.98 Cr for Q2FY24.
PAT stood at ₹ 51.44 Cr in against PAT of ₹ 93.78 Cr in Q2FY24.

H2 FY25 Highlights:

Volume in Pipes & Fittings segment was up by 3% to 1,59,961 MT in H1FY25 against 1,55,095 MT in H1FY24.
Total income from operations was ₹ 1968.92 Cr, down 5% against ₹ 2,062.32 Cr in H1FY24.
Volume in Resin segment grew by 31% to 1,09,860 MT in H1FY25 against 83,590 MT in H1FY24.
EBITDA stood at ₹ 217.22 Cr down by 15% against EBITDA of ₹ 255.45 Cr for H1FY24.
Profit after tax was increased to ₹ 556.64 Cr (including exception gain) for H1FY25 compared to ₹ 204.66 Cr in H1FY24.

Commenting on the quarterly results, Mr. Prakash P. Chhabria, Executive Chairman, Finolex Industries Limited said, "FIL has registered robust Pipes & Fittings demand in volume terms during the quarter. Operating performance of the Company were muted during the quarter due to volatility in PVC price, prolonged monsoon. The Company's continuous efforts to penetrate into the non-agri segment will reflect in improved earnings performance going forward."

About Finolex:

We are India's most trusted PVC pipes and fittings manufacturer. Over the last 40 years, we have impacted the sanitation-plumbing and agricultural sectors with prudent investments across our value chain. Right from the sourcing of quality raw materials and resin production, to manufacturing, storage, transport, sales, marketing and even further downstream to include customer engagement