Finolex Pipes Posts Stable Volume Growth Despite 3% Revenue Drop to Rs 1,140 Crore
Finolex Pipes reported a 3% drop in revenue to Rs. 1,140 crores for Q1 FY25 but achieved a 36% increase in EBITDA and saw a 51% rise in PVC Resin volume.
by Damodharan N
Updated Jul 29, 2024
Table of Content
In its financial update for the first quarter of FY25, Finolex Pipes has reported stable operational performance despite a 3% drop in revenue. The company's revenue for Q1 FY25 was Rs. 1,140 crores, down from Rs. 1,179 crores in the same period last year.
Despite the decrease in revenue, Finolex achieved significant improvements in other key areas. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), excluding exceptional items, increased by 36% to Rs. 207 crores compared to Rs. 152 crores in Q1 FY24. This growth in EBITDA was driven by better realization rates.
The company's Profit Before Tax (PBT), before exceptional items, also saw a notable increase of 53%, reaching Rs. 229 crores compared to Rs. 149 crores in the previous year.
In terms of segment performance, the volume for Pipes & Fittings was 90,620 MT, reflecting a slight decrease of 2% year-on-year. On the other hand, PVC Resin volume surged by 51% to 69,625 MT, attributed to a planned shutdown in Q1 FY24.
Finolex's balance sheet remains strong, with free cash (net) standing at approximately Rs. 2,400 crores, up from Rs. 1,650 crores in Q1 FY24. This indicates a robust liquidity position for the company.
Overall, while the revenue experienced a decline, Finolex Pipes showed resilience through improved profitability and strong volume growth in PVC Resin, maintaining a stable operational performance for the quarter.
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Finolex Pipes Q1 FY25 Results
Finolex Pipes has released its financial results for the first quarter of FY25, highlighting a mixed performance across its segments.
- EBITDA: Increased 36% to ₹207 crores, up from ₹152 crores a year ago.
- Profit Before Tax (PBT): Rose 53% to ₹229 crores compared to ₹149 crores in Q1 FY24.
- Pipes & Fittings Volume: Decreased 2% to 90,620 MT, down from 92,181 MT in Q4 FY24.
- Pipes & Fittings EBIT: Grew 6% to ₹134 crores from the previous quarter.
- PVC Resin Volume: Increased 51% to 69,625 MT from 46,074 MT in Q1 FY24.
- PVC Resin EBIT: Surged 2,115% to ₹69 crores.
Standalone basis Q1 FY25 statement amount in Rs. Crores
|
Particulars |
Q1 FY25 |
Q1 FY24 |
YOY Change |
|
Total Income from Operations |
1,140 |
1,179 |
-3% |
|
EBITDA |
207 |
152 |
36% |
|
EBITDA % |
18% |
13% |
- |
|
Depreciation |
26 |
34 |
- |
|
Profit Before Interest and Taxes |
181 |
118 |
53% |
|
EBIT % |
16% |
10% |
- |
|
Finance Costs |
7 |
9 |
- |
|
Other Income |
55 |
40 |
- |
|
Profit Before Tax Excluding Exceptional Item Gain |
229 |
149 |
53% |
|
PBT % |
20% |
13% |
- |
|
Exceptional Item Gain |
417 |
0 |
- |
|
Profit Before Tax Including Exceptional Item Gain |
646 |
149 |
- |
|
Tax |
141 |
38 |
- |
|
Profit After Tax Including Exceptional Item Gain |
505 |
111 |
354% |
|
PAT % |
44% |
9% |
- |
Finolex Industries
Finolex Industries Limited (FIL) is a leading Indian manufacturer of high-quality PVC pipes and fittings, with a legacy of 43 years. Founded by the visionary Late Shri Pralhad P. Chhabria in 1958, the company is renowned for its exceptional quality, reliability, and customer satisfaction.
Finolex covers the entire value chain, from sourcing materials to manufacturing and sales. The company's products cater to various needs, including plumbing, sanitation, and agriculture, and they pride themselves on their extensive network of over 21,000 retail touchpoints and 900 dealer touchpoints.
Finolex Pipes Posts Stable Volume Growth Despite 3% Revenue Drop to Rs 1,140 Crore - FAQs
1. What was Finolex Pipes' total revenue for Q1 FY25?
Finolex Pipes' total revenue for Q1 FY25 was ₹1,140 crores.
2. How much did Finolex Pipes' revenue decrease from Q1 FY24?
Finolex Pipes' revenue decreased by 3% from ₹1,179 crores in Q1 FY24.
3. What was the EBITDA for Finolex Pipes in Q1 FY25?
The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for Finolex Pipes in Q1 FY25 was ₹207 crores.
4. How much did EBITDA increase year-on-year in Q1 FY25?
EBITDA increased by 36% year-on-year from ₹152 crores in Q1 FY24.
5. What was the Profit Before Tax (PBT), excluding exceptional items, for Q1 FY25?
The Profit Before Tax (PBT), excluding exceptional items, was ₹229 crores in Q1 FY25.
6. How much did the PBT increase compared to Q1 FY24?
The PBT increased by 53% compared to ₹149 crores in Q1 FY24.
7. What was the volume of Pipes & Fittings in Q1 FY25?
The volume of Pipes & Fittings in Q1 FY25 was 90,620 MT.
8. How did the Pipes & Fittings volume change from Q4 FY24?
The Pipes & Fittings volume decreased by 2% from 92,181 MT in Q4 FY24.
9. What was the PVC Resin volume in Q1 FY25?
The PVC Resin volume in Q1 FY25 was 69,625 MT.
10. What percentage did the PVC Resin volume increase from Q1 FY24?
The PVC Resin volume increased by 51% from 46,074 MT in Q1 FY24.
11. What was the EBITDA margin percentage for Q1 FY25?
The EBITDA margin percentage for Q1 FY25 was 18%.
12. How much did the depreciation expense decrease in Q1 FY25?
Depreciation expense decreased by ₹8 crores, from ₹34 crores in Q1 FY24 to ₹26 crores in Q1 FY25.
13. What was the Profit Before Interest and Taxes (PBIT) for Q1 FY25?
The Profit Before Interest and Taxes (PBIT) for Q1 FY25 was ₹181 crores.
14. What was the PBIT margin percentage for Q1 FY25?
The PBIT margin percentage for Q1 FY25 was 16%.
15. What were the finance costs for Finolex Pipes in Q1 FY25?
The finance costs for Finolex Pipes in Q1 FY25 were ₹7 crores.
16. How much did other income increase in Q1 FY25?
Other income increased by ₹15 crores, from ₹40 crores in Q1 FY24 to ₹55 crores in Q1 FY25.
17. What was the Profit Before Tax (PBT) including exceptional items for Q1 FY25?
The Profit Before Tax (PBT), including exceptional items, was ₹646 crores in Q1 FY25.
18. What was the exceptional item gain recorded in Q1 FY25?
The exceptional item gain recorded in Q1 FY25 was ₹417 crores.
19. What was the tax expense for Finolex Pipes in Q1 FY25?
The tax expense for Finolex Pipes in Q1 FY25 was ₹141 crores.
20. What was the Profit After Tax (PAT) including exceptional items for Q1 FY25?
The Profit After Tax (PAT), including exceptional items, was ₹505 crores in Q1 FY25.
21. What was the PAT percentage for Q1 FY25?
The PAT percentage for Q1 FY25 was 44%.
22. Who founded Finolex Industries Limited?
Finolex Industries Limited was founded by Late Shri Pralhad P. Chhabria.
23. How many years has Finolex Industries been operational?
Finolex Industries has been operational for 43 years.
24. How many retail touchpoints does Finolex have?
Finolex has over 21,000 retail touchpoints.
25. How many dealer touchpoints does Finolex have?
Finolex has over 900 dealer touchpoints.
26. What are some of the product categories offered by Finolex?
Finolex offers products in plumbing, sanitation, and agriculture.
27. What was the growth rate of PVC Resin EBIT in Q1 FY25?
The EBIT for PVC Resin surged by 2,115% in Q1 FY25.
28. What was the Pipes & Fittings EBIT in Q1 FY25?
The EBIT for Pipes & Fittings in Q1 FY25 was ₹134 crores.
29. How much did the Pipes & Fittings EBIT increase from the previous quarter?
The Pipes & Fittings EBIT increased by 6% from the previous quarter.
30. How much did the Profit After Tax increase from Q1 FY24?
The Profit After Tax increased by 354% from ₹111 crores in Q1 FY24.