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InFocus Finance

Finolex Industries Announces Q4 FY24 Financial Results

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.

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SMEStreet Edit Desk
11 May 2024 12:57 IST

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Prakash P. Chhabria, Executive Chairman, Finolex Industries Limited

Prakash P. Chhabria, Executive Chairman, Finolex Industries Limited

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Finolex Industries Limited at its Board Meeting held today announced unaudited financial results for the fourth quarter ended Mar 31, 2024.

Key Financial Highlights (Standalone): (INR- Cr)

Rs. In Crores

Q4 FY24

Q4 FY23

% Change

FY2024

FY2023

% Change

Total Income from operations 

1,235.42

1,141.06

8.27%

4,317.43

4,397.05

-1.81%

EBITDA gain/(loss)

208.93

217.43

-3.91%

584.85

292.54

99.92%

EBITDA %

16.91%

19.06%

 

13.55%

6.65%

 

Depreciation

26.68

23.80

 

116.02

89.2

 

Profit/ (loss) before interest & tax

182.25

193.63

-5.88%

468.83

203.34

130.56%

EBIT %

14.75%

16.97%

 

10.86%

4.62%

 

Finance costs

7.31

6.46

 

36.45

27.23

 

Other Income

43.79

29.20

 

181.11

121.38

 

Profit/(loss) before tax

218.73

216.37

1.09%

613.49

297.49

106.22%

PBT %

17.70%

18.96%

 

14.21%

6.77%

 

Tax

57.30

58.02

 

158.19

60.9

 

Profit/(loss) after tax

161.43

158.35

1.95%

455.30

236.59

92.44%

PAT %

13.07%

13.88%

 

10.55%

5.38%

 

Sales volume in MT

PVC Resin (External)

6,371

3,322

91.76%

14,155

26,898

(47.4%)

PVC Resin (Including inter Segment)

69,215

58,132

19.07%

1,96,542

2,39,638

(18.0%)

Pipes and Fittings

1,00,171

81,452

22.98%

3,36,577

3,03,026

11.07%

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.

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.”

 

Finolex Industries Finance
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