Finolex Industries Ltd Share Price – NSE  /  BSE

Plastic products, Small Cap

Volume in Pipes & Fittings segment increased by 22.98% to 1,00,171 MT in Q4 FY24 from 81,452 MT in Q4 FY23. Volume in PVC Resin segment was up 19.07% to 69,215 MT in Q4 FY24 against 58,132 MT in Q4 FY23.

EBITDA declined by 3.9% to Rs 208.93 crore in Q4 FY24 from Rs 217.43 crore in Q4 FY23. EBITDA margin was 16.9% in Q4 FY24 as against 19.1% in Q4 FY23.

Profit before tax in Q4 FY24 stood at Rs 218.73 crore, up by 1.1% from Rs 216.37 crore in Q4 FY23.

For FY24, Finolex Industries has reported net profit and total income of Rs 455.30 crore (up 92.4% YoY) and Rs 4,317.43 crore (down 1.8% YoY), respectively.

Prakash P. Chhabria, executive chairman, Finolex Industries, 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 is the third-largest player in the PVC resin market and second largest manufacturer of PVC pipes in India. The company has four manufacturing facilities, one each in Pune, Talegaon and Ratnagiri in Maharashtra, and one in Masar, near Vadodara in Gujarat. The company is the only backward integrated player, with in-house PVC resin capacity and 43 MW captive power, aiding cost control.

The scrip fell 1.48% to currently trade at Rs 269.40 on the BSE.

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Finolex Industries announced that the Board of Directors of the Company at its meeting held on 10 May 2024, inter alia, have recommended the final dividend of Rs 2.5 per equity Share (i.e. 125%) , subject to the approval of the shareholders.

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Net profit of Finolex Industries declined 0.96% to Rs 164.90 crore in the quarter ended March 2024 as against Rs 166.50 crore during the previous quarter ended March 2023. Sales rose 8.27% to Rs 1235.42 crore in the quarter ended March 2024 as against Rs 1141.06 crore during the previous quarter ended March 2023.

For the full year,net profit rose 88.91% to Rs 473.59 crore in the year ended March 2024 as against Rs 250.70 crore during the previous year ended March 2023. Sales declined 1.81% to Rs 4317.43 crore in the year ended March 2024 as against Rs 4397.05 crore during the previous year ended March 2023.

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Finolex Industries will hold a meeting of the Board of Directors of the Company on 10 May 2024.

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