Pune: Finolex Industries Limited has released its Q2 FY25 financial report, revealing notable growth in volume across its core Pipes & Fittings segment.
The quarter’s performance, discussed at today’s Board Meeting, was marked by both operational gains and challenges.
During Q2 FY25, Finolex Industries recorded a total operational income of ₹828.4 crore, a 6% dip from ₹883.2 crore in Q2 FY24.
A primary highlight was a 10% increase in the Pipes & Fittings volume to 69,341 MT, a rise from 62,914 MT in the same quarter last year.
The PVC Resin segment also saw a volume growth of 7%, reaching 40,236 MT compared to 37,516 MT in Q2 FY24.
However, EBITDA declined significantly to ₹10.6 crore, down from ₹103.0 crore in the prior year’s Q2, attributed to volatile PVC pricing and a prolonged monsoon season. Profit After Tax (PAT) was ₹51.4 crore, compared to ₹93.8 crore in Q2 FY24.
For the first half of FY25, Finolex’s total income from operations was ₹1,968.9 crore, a decrease of 5% from ₹2,062.3 crore in H1 FY24. EBITDA for H1 FY25 stood at ₹217.2 crore, a 15% year-over-year decline.
Nevertheless, the Profit After Tax, including an exceptional item gain, saw a significant increase, amounting to ₹556.6 crore in H1 FY25 from ₹204.7 crore in H1 FY24, reflecting a growth of 172%.
Executive Chairman Prakash P. Chhabria remarked on the company’s performance, noting, "FIL demonstrated strong demand within the Pipes & Fittings sector this quarter, though volatility in PVC prices and prolonged monsoon conditions impacted operational performance.
We remain committed to expanding in the non-agricultural segment, which we believe will yield positive financial results in the future."