Finolex Industries reports the highest ever operating PBT of ~ 1,009 cr for FY22 backed by volume growth

Reports PAT of ~ Rs. 494 Cr for Q4 FY22 and ~ Rs. 1,053 Cr for FY22 FY22 Net Revenue is up ~ 34% at Rs. 4,647.32 Cr

PUNE: Finolex Industries Limited (NSE: FINPIPE|BSE:500940) at its Board Meeting held today announced unaudited financial results for the fourth quarter ended March 31, 2022.

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

Rs Cr	Q4 FY22	Q4 FY21	%change	FY22	FY21	%change
Income from operations	1,594.57	1,249.08	27.7%	4,647.32	3,462.27	34.2%
EBITDA*	264.66	410.05	-35.5%	1,023.74	989.30	3.5%
EBITDA margin (%)	16.6%	32.8%		22.0%	28.6%
Depreciation	21.55	19.70		83.4	77.72
EBIT*	243.11	390.35	-37.7%	940.34	911.58	3.2%
EBIT %	15.2%	31.3%		20.2%	26.3%
Finance costs	8.06	1.84		14.09	7.27
Other Income	24.76	13.56		83.16	72.48
Profit before tax*	259.81	402.05	-35.4%	1,009.41	976.80	3.3%
PBT %	16.3%	32.2%		21.7%	28.2%
Exceptional item (gain)	376.06	–		376.06	–
Tax	142.07	104.73		332	248.78
PAT	493.80	297.33	66.1%	1,053.47	728.02	44.7%
PAT %	31.0%	23.8%		22.7%	21.0%
Sales in MT
PVC Resin (External)	23,701	26,825	-11.6%	57,095	75,818	-24.7%
Pipes and Fittings	78,629	60,232	30.5%	2,36,895	2,12,060	11.7%

*  Excludes exceptional item

Q4 FY22 Highlights:

• Total income from operations was Rs 1,594.57 Cr for Q4FY22 – up 27.7% against Rs 1,249.08 Cr in Q4FY21.
• Volume in the Pipes & Fittings segment was up 30.5% to 78,629 MT in Q4FY22 against 60,232 MT in Q4FY21
• EBITDA before exceptional items stood at Rs 264.66 Cr for Q4FY22 – down 35.5% against Rs
• 410.05 Cr for Q4FY21.
• Profit after tax was at Rs 493.80 Cr for Q4FY22 – up 66.1% against Rs 297.34 Cr for Q4FY21.

FY22 Highlights:

• Total income from operations was Rs 4,647.32 Cr for FY22 – up 34.2% against Rs 3,462.27 Cr in FY21.
•  Volume in Pipes & Fittings segment grew 11.7% to 2,36,895 MT in FY22 against 2,12,060MT in FY21
• EBITDA before exceptional items stood at Rs 1,023.71 Cr for FY22 – up 3.5% against Rs
• 989.29 Cr for FY21.
•  Profit after tax was at Rs 1,053.47 Cr for FY22 – up 66.1% against Rs 728.01 Cr for FY21.

Commenting on this commendable feat, Mr. Prakash P. Chhabria, Executive Chairman, Finolex Industries Limited said,

“Our 40th financial year has been a stellar one. Our teams have delivered a great year, despite the challenging conditions. This has only been made possible by the engine that drives our growth – the Finolex Parivaar. Each member has pushed themselves and their colleagues to excel, taking the success of Finolex as their own personal success.”

source https://nrinews24x7.com/finolex-industries-reports-the-highest-ever-operating-pbt-of-1009-cr-for-fy22-backed-by-volume-growth/

May 23, 2022