MUMBAI: Finolex Industries Limited (NSE: FINPIPE|BSE:500940) at its Board Meeting held today announced unaudited financial results for the fourth quarter ended March 31, 2023.
Key Financial Highlights (Standalone): (INR- Cr)
| Rs. In Crores | Q4 FY23 | Q4 FY22 | % Change | FY23 | FY22 | % Change |
| Total Income from operations | 1,141.06 | 1,594.57 | -28.44% | 4,397.05 | 4,647.32 | -5.39% |
| EBITDA gain/(loss) | 217.43 | 264.66 | -17.85% | 292.54 | 1023.74 | -71.42% |
| EBITDA % | 19.06% | 16.60% | 6.65% | 22.03% | ||
| Depreciation | 23.80 | 21.55 | 89.20 | 83.40 | ||
| Profit/ (loss) before interest & tax | 193.63 | 243.11 | -20.35% | 203.34 | 940.34 | -78.38% |
| EBIT % | 16.97% | 15.25% | 4.62% | 20.23% | ||
| Finance costs | 6.46 | 8.06 | 27.23 | 14.09 | ||
| Other Income | 29.20 | 24.76 | 121.38 | 83.16 | ||
| Profit/(loss) before tax excluding exceptional item gain | 216.37 | 259.81 | 297.49 | 1009.41 | -70.53% | |
| PBT% | 18.96% | 16.29% | 6.77% | 21.72% | ||
| Exceptional item gain | – | 376.06 | – | 376.06 | ||
| Profit/(loss) before tax including exceptional item gain | 216.37 | 635.87 | -65.97% | 297.49 | 1,385.47 | -78.53% |
| PBT % | 18.96% | 39.88% | 6.77% | 29.81% | ||
| Tax | 58.02 | 142.07 | 60.9 | 332 | ||
| Profit/(loss) after tax | 158.35 | 493.80 | -67.93% | 236.58 | 1053.47 | -77.54% |
| PAT % | 13.88% | 30.97% | 5.38% | 22.67% | ||
| Sales in MT | ||||||
| PVC Resin (External) | 3,322 | 23,701 | -85.98% | 26,898 | 57,095 | -52.89% |
| PVC Resin (Including inter Segment) | 58,132 | 79,182 | -26.58% | 2,39,638 | 2,24,924 | 6.54% |
| Pipes and Fittings | 81,452 | 78,629 | 3.59% | 3,03,026 | 2,36,895 | 27.92% |
Q4 FY23 Highlights:
- Total income from operations was Rs 1,141.06 Cr for Q4FY23 – down 28.44% against Rs 1,594.57 Cr in Q4FY22.
- Volume in Pipes & Fitting’s segment increased by 3.59% to 81,452 MT in Q4FY23 against 78,629 MT in Q4FY22.
- Volume in the PVC Resin segment was down 26.58% to 58,132 MT in Q4FY23 against 79,182 MT in Q4FY22.
- EBITDA stood at Rs 217.43 Cr for Q4FY23 against Rs 264.66 Cr for Q4FY22, down 17.85% on a y-o-y basis.
- PAT was Rs 158.35 Cr for Q4FY23 against Rs 493.80 Cr for Q4FY22.
FY 23 Highlights:
- Total income from operations was Rs 4,397.05 Cr for FY23 – down 5.39% against Rs 4,647.32 Cr in FY22.
- Volume in Pipes & Fitting’s segment grew 27.92% to 3,03,026 MT in FY23 against 2,36,895 MT in FY22.
- Volume in the Resin segment was up 6.54% to 2,39,638 MT in FY23 against 2,24,924 MT in FY22.
- EBITDA for FY23 was down 71.42% at Rs 292.54 Cr compared to Rs 1,023.74 Cr for FY22.
- Profit after tax decreased 77.54% to Rs 236.58 Cr in FY23 against Rs 1,053.47 Cr in FY22.
Commenting on the quarterly results, Mr. Prakash P. Chhabria, Executive Chairman, Finolex Industries Limited said, “After a subdued volume growth in last 3 years, stabilization in prices has led to a strong pent-up demand. The momentum is expected to sustain in the long run with the overall growth prospects in the rural and real estate sector of the country. The company has witnessed a strong financial performance on a full-year basis, marking a new milestone achievement of record sales volume growth.”
 at its Board Meeting held today announced unaudited financial results for the fourth quarter ended March 31, 2023.){kind=link}