Finolex Industries posts a 3-fold increase in net profits
DSIJ Intelligence / 23 May 2016
Net profit of Finolex industries has increased 3 folds as compared to Q4FY15. EBITDA for the period stands at Rs 111.44 crores, which saw an increase of 63 per cent over the previous quarter. Total income from operations stands at Rs 805.55 crores for the quarter, as against Rs 784.64 crores for the corresponding period of the previous fiscal.
One of the leading manufacturers of plastic products in India, Finolex industries Ltd. on May 21 declared its Q4FY16 results, wherein the company recorded a net profit of Rs 78.48 crores. Net profit of Finolex industries has increased 3 folds as compared to Q4FY15. EBITDA for the period stands at Rs 111.44 crores, which saw an increase of 63 per cent over the previous quarter. Total income from operations stands at Rs 805.55 crores for the quarter, as against Rs 784.64 crores for the corresponding period of the previous fiscal. Total income of the company has increased by 3 per cent.
On a YoY basis, net profit for the period stands at Rs 233.59 crores, whereas for the previous fiscal, the company had reported a net profit of Rs 47.78 crores,net profits has surged 5 times as compared to the previous year. EBITDA stands at Rs 375 crores, while previously EBITDA was reported at Rs 213 crores. Consolidated total income for the period stands at Rs 2453 crores.
On a CAGR basis, the company’s EBITDA and net profits for the period of 3 years has grown by 33 per cent and 121 per cent, respectively.
The company has benefited from lower crude prices which has reduced their raw material costs and has aided to their profit margin. The company saw significant improvement in their current margins for this quarter. The company is likely to benefit from good monsoons, which will surge demand for their products.
Finolex Industries Limited. is an India-based polyvinyl chloride (PVC) pipe manufacturing company. The company operates in three divisions: PVC, PVC pipes and fittings power. The company offers a wide range of PVC pipes and fittings, for diverse applications in agriculture, housing, telecom, industry, etc. ranging between 20 mm to 400 mm diameter. It also manufactures speciality pipes and fittings, namely SWR (soil, waste and rain water).
The shares of the company on the bourses on Monday have opened positive and are trading at Rs 400.75, up by 1.86 per cent.
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