Consolidated EBITDA stood at Rs 144.77 crore for Q2 September 2020, up by 76.5% as against Rs 82 crore for Q2 September 2019. EBITDA margin improved to 24.7% in Q2 September 2020 from 14.2% in Q2 September 2019.

The company's consolidated profit before tax came at Rs 157.12 crore, surging 96.9% year on year. Finolex incurred total tax expenses of Rs 37.40 crore in Q2 September 2020 as compared to a tax rebate of Rs 22.88 crore received in Q2 September 2019.

Finolex Industries said that subsequent to a Covid-19 induced volume reduction in Q1, business witnessed recovery in Q2 with near normal operating conditions. Significant improvement in EBIT on year on year basis, attributed to better realisations and lower costs in both the operating segments and higher volume in the PVC resin segment.

Finolex Industries, headquartered in Pune, is one of the largest supplier of PVC Pipes & Fittings for the agriculture and non-agricultural sectors.

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Net profit of Finolex Industries rose 20.10% to Rs 122.83 crore in the quarter ended September 2020 as against Rs 102.27 crore during the previous quarter ended September 2019. Sales rose 1.58% to Rs 585.78 crore in the quarter ended September 2020 as against Rs 576.67 crore during the previous quarter ended September 2019.

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The Board of Finolex Industries at its meeting held on 26 October 2020 has appointed Ashutosh B. Kulkarni as Company Secretary, ComplianceOfficer and Key Managerial Personnel of the Company with immediate effect.

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Finolex Industries will hold a meeting of the Board of Directors of the Company on 26 October 2020.

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