Finolex Industries Ends FY21 On A Historic High; Reports Rs 1,061.79 Crore EBITDA On A Full Year Revenue Of Rs 3,462.82 Crore

Pune, 25 June 2021: Finolex Industries Limited (NSE:FINPIPE|BSE:500940), India’s largest and only backward integrated manufacturer of PVC Pipes and Fittings, at its Board Meeting held today announced audited financial results for the fourth quarter ended March 31, 2021.

Key Financial Highlights: (INR- Cr)

Q4 FY21 Highlights:

• Total income from operations was Rs 1,249.34 Cr for Q4FY21 – up 62.5% against Rs 768.66 Cr in Q4FY20.
• EBITDA stood at Rs 423.59 Cr for Q4FY21 – up 305.3% against Rs 104.51Cr for Q4FY20.
• Profit after tax was at Rs 297.33 Cr for Q4FY21 – up 433.7% against Rs 55.71Cr for Q4FY20.

FY21 Highlights:

• Total income from operations was Rs. 3,462.82 for FY21, up 16% against Rs 2,984.51 Cr in FY20.
• EBITDA stood at Rs 1,061.79 Cr for FY21- up 122.0% against Rs 478.28 Cr for FY20.
• Profit after tax was at Rs 728.02 Cr for FY21 – up 124.6% against Rs 324.20 Cr for FY20.
• During the year, the Company generated Rs. 940.98 Cr of cash from operations

Speaking on the performance, Mr. Prakash P. Chhabria, Chairman, Finolex Industries Ltd. said, “We are confident that our business model which is as strong and robust as the products and services we offer, will help us augment our growth. The company is confident of growing at an accelerated rate which is aligned with our overarching strategy to enhance value for all stakeholders. For our shareholders, we continue with our policy of a high dividend payout ratio. We stand with our employees – our biggest assets and are happy to state that we not only announced increments and promotions during the year, but also paid a special incentive for all employees as the Company completes 40 years of successful operations. During this difficult time, Finolex Industries, in conjunction with our CSR Partner, Mukul Madhav Foundation, continues to support communities, in which we operate, with on-ground activities for Covid relief funded under its CSR initiatives.”

Finolex has always endeavored to create value for its shareholders. Earlier this year in January 2021, Finolex Industries had announced a share split which was received positively by the markets reflecting confidence in the long-term growth plans of the company. This has increased the liquidity of our shares and allows more investments through the open market, with the widening of the distribution of company stocks.

In line with our past history of healthy dividend payouts every year, the Board of Directors have recommended a final dividend of Rs. 2 per equity share and an additional one-time special dividend of Rs. 2 per equity share for this financial year. This is subject to approval from the Shareholders of the Company in ensuing Annual General Meeting.

Profit and Loss Account Summary Table: (INR-Cr) 

Finolex Industries Limited, headquartered in Pune, is India’s largest and only integrated manufacturer of PVC Pipes & Fittings. Three state-of-the-art manufacturing plants at Pune and Ratnagiri in Maharashtra and Masar in Gujarat enable us to exceed customer expectations.