Finolex Industries Reports PAT Of Rs. 178 Cr for Q3FY22

9MFY22 Net Revenue is up ~ 38% at Rs. 3,053.92 EBITDA increases ~ 30% to Rs. 753.41 Cr

PUNE: Finolex Industries Limited (NSE: FINPIPE|BSE:500940)at its Board Meeting held today announced unaudited financial results for the third quarter ended December 31, 2021.

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

Rs Cr	Q3 FY22	Q3 FY21	% change	9M FY22	9M FY21	% change
Income from operations	1,005.25	1066.06	-5.7%	3,053.92	2,213.50	38.0%
EBITDA	241.89	346.26	-30.1%	753.41	579.26	30.1%
EBITDA margin (%)	24.1%	32.5%		24.6%	26.2%
Depreciation	21.18	19.85		61.85	58.02
EBIT	220.71	326.41	-32.4%	691.56	521.24	32.7%
EBIT %	21.9%	30.6%		22.6%	23.5%
Finance costs	0.85	1.39		6.02	5.43
Other Income	19.37	18.16		64.06	58.94
Profit before tax	239.23	343.18	-30.3%	749.60	574.75	30.4%
PBT %	23.8%	32.2%		24.5%	25.9%
Tax	61.46	87.32		189.93	144.06
PAT	177.77	255.86	-30.5%	559.67	430.70	29.9%
PAT %	17.7%	24.0%		18.3%	19.5%
Sales in MT
PVC Resin (External)	10,984	31,475	-65.1%	33,394	48,993	-31.8%
Pipes and Fittings	46,994	55,299	-15%	1,58,266	1,51,828	4.2%

Q3 FY22 Highlights:

• Total income from operations was Rs 1,005.25 Cr for Q3FY22 – down 5.7% against Rs 1,066.06 Cr in Q3FY21.
• Volume in Pipes & Fittings segment was down 15.0% to 46,994 MT in Q3FY22 against 55,299 MT in Q3FY21
• EBITDA stood at Rs 241.89 Cr for Q3FY22 – down 30.1% against Rs 346.26 Cr for Q3FY21.
• Profit after tax was at Rs 177.77 Cr for Q3FY22 – down 30.5% against Rs 255.86 Cr for Q3FY21.

9M FY22 Highlights:

• Total income from operations was Rs 3,053.92 Cr for 9MFY22 – up 38% against Rs 2,213.50Cr in 9MFY21.
• Volume in Pipes & Fittings segment grew 4.2% to 1,58,266 MT in 9MFY22 against 1,51,828 MT in 9MFY21
• EBITDA stood at Rs 753.41 Cr for 9MFY22 – up 30.1% against Rs 579.26 Cr for 9MFY21.
• Profit after tax was at Rs 559.67 Cr for 9MFY22 – up 29.9% against Rs 430.70Cr for 9MFY21.

Commenting on this commendable feat, Mr. Prakash P. Chhabria, Executive Chairman, Finolex Industries Limited said, “After a long upward trajectory, the global PVC prices have started to cool down and slightly flatten. Coupled to this, the quarter witnessed a demand slowdown of PVC pipes due to weather disruptions.  The demand is expected to improve with the season-opening up and easing of supply chain bottlenecks.”

source https://nrinews24x7.com/finolex-industries-reports-pat-of-rs-178-cr-for-q3fy22/

January 29, 2022