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Finolex Industries Results: Latest Quarterly Results & Analysis

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Finolex Industries Ltd. 27 May 2026 11:16 AM

Q4FY26 & FY26 Result Announced for Finolex Industries Ltd.

Plastic Products company Finolex Industries announced Q4FY26 & FY26 results

Consolidated Financial Highlights:

  • Revenue from Operations: In Q4FY26, the consolidated revenue from operations stood at Rs 1,313.88 crore, registering a significant growth of 46.37% QoQ compared to Rs 897.66 crore in Q3FY26, and an increase of 12.12% YoY against Rs 1,171.81 crore in Q4FY25. For the full year FY26, revenue from operations was Rs 4,113.43 crore, a slight decrease of 0.69% YoY from Rs 4,141.97 crore in FY25.
  • Total Income: The total income for Q4FY26 was Rs 1,350.32 crore, growing by 42.12% QoQ (from Rs 950.15 crore in Q3FY26) and 9.22% YoY (from Rs 1,236.38 crore in Q4FY25). For FY26, total income stood at Rs 4,324.79 crore, a decline of 1.45% YoY from Rs 4,388.60 crore in FY25.
  • Profit Before Tax (PBT): PBT in Q4FY26 reached Rs 351.01 crore, marking a steep rise of 123.62% QoQ (vs Rs 156.97 crore in Q3FY26) and 57.26% YoY (vs Rs 223.20 crore in Q4FY25). Annual PBT for FY26 was reported at Rs 805.04 crore, decreasing by 22.83% YoY compared to Rs 1,043.24 crore in FY25.
  • Profit After Tax (PAT): The PAT for Q4FY26 surged to Rs 261.25 crore, showcasing robust growth of 125.06% QoQ (from Rs 116.08 crore in Q3FY26) and 58.74% YoY (from Rs 164.58 crore in Q4FY25). For FY26, PAT was Rs 599.05 crore, representing a 25.12% YoY decrease against Rs 800.03 crore in FY25.

Standalone Financial Highlights:

  • Revenue from Operations: Standalone revenue from operations in Q4FY26 was Rs 1,313.88 crore, recording a QoQ increase of 46.37% from Rs 897.66 crore in Q3FY26 and a YoY increase of 12.12% from Rs 1,171.81 crore in Q4FY25. For FY26, revenue reached Rs 4,113.43 crore, a YoY decline of 0.69% compared to Rs 4,141.97 crore in FY25.
  • Total Income: Q4FY26 total income stood at Rs 1,350.32 crore, up 42.12% QoQ (vs Rs 950.15 crore in Q3FY26) and 9.22% YoY (vs Rs 1,236.38 crore in Q4FY25). Annual total income for FY26 was Rs 4,326.64 crore, a decrease of 1.45% YoY from Rs 4,390.22 crore in FY25.
  • Profit Before Tax (PBT): Standalone PBT for Q4FY26 was Rs 334.50 crore, climbing 129.02% QoQ (from Rs 146.06 crore in Q3FY26) and 64.97% YoY (from Rs 202.77 crore in Q4FY25). Annual PBT for FY26 stood at Rs 764.74 crore, dropping 23.88% YoY from Rs 1,004.69 crore in FY25.
  • Profit After Tax (PAT): PAT for Q4FY26 was Rs 254.22 crore, seeing a significant increase of 131.13% QoQ (from Rs 109.99 crore in Q3FY26) and 69.19% YoY (from Rs 150.26 crore in Q4FY25). For FY26, PAT stood at Rs 580.34 crore, down 25.39% YoY compared to Rs 777.86 crore in FY25.

Business Highlights & Segment-wise Performance:

  • Segment-wise Performance: Effective April 01, 2025, the company has re-aligned its internal reporting structures. It now operates as a single integrated business focused solely on the manufacture and sale of Pipes and Fittings. Accordingly, no separate segment reporting disclosures have been furnished.
  • Dividends: The Board of Directors recommended a final dividend of Rs 2 (100%) per equity share of Rs 2/- each and a special dividend of Rs 0.75 (37.50%) per equity share of Rs 2/- each. This aggregates to Rs 2.75 (137.50%) per equity share for the year ended March 31, 2026, subject to the approval of Members at the ensuing Forty-Fifth Annual General Meeting.
  • Auditor Appointments: The Board re-appointed M/s. S. R. Bhargave & Co. as Cost Auditors and M/s. M M Nissim & Co LLP as Internal Auditors for FY27.

Result PDF

Plastic Products company Finolex Industries announced Q3FY26 results

  • Volume decreased by 14% during the quarter (Q3FY26: 73,500 MT vs Q3FY25: 85,767 MT).
  • Revenue declined by 10%, primarily due to lower realisation driven by weak PVC prices. (Revenue – Q3FY26: Rs 898 crore vs. Q3FY25: Rs 1001 crore).
  • EBITDA stood at Rs 123 crore in Q3FY26 compared to Rs 83 crore in Q3FY25.
  • PBT stood at Rs 146 crore in Q3FY26 vs Rs 95 crore in Q3FY25
  • Strong liquidity with free cash (net) of ~ Rs 2429 crore (Q3FY25: ~ Rs 2,300 crore).

Result PDF

Plastic Products company Finolex Industries announced Q1FY26 results

  • Revenue - Q1FY26: Rs 1,043 crore vs. Q1FY25: Rs 1,140 crore, 9% lower revenue mainly on account of weaker realisation during the quarter due to volatility in PVC prices.
  • EBITDA stood at Rs 94 crore in Q1FY26 compared to Rs 207 crore in Q1FY25.
  • PBT stood at Rs 126 crore in Q1FY26 vs Rs 229 crore in Q1FY25.
  • Strong liquidity with free cash (net) of ~ Rs 2533 crore, Q1FY25 : ~ Rs 2,401 crore.
  • P&F volume increased by 2% during the quarter, Q1FY26: 92,129 MT vs Q1FY25: 90,620 MT.

Result PDF

Plastic Products company Finolex Industries announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Volume in Pipes & Fittings segment increased by 2% to 102,253 MT against 100,171 MT in Q4FY24 in-spite of weak demand scenario.
  • Total income from operations was Rs 1,171.81 crore, down 5% against Rs 1,235.42 crore, in Q4FY24 due to realization.
  • EBITDA stood at Rs 171.27 crore, against the EBITDA of Rs 208.93 crore, for Q4FY24.
  • PAT stood at Rs 150.26 crore, in against PAT of Rs 161.43 crore, in Q4FY24.

FY25 Financial Highlights:

  • Volume in Pipes & Fittings segment was up by 3% to 3,47,982 MT in FY25 against 3,36,577 MT in FY24 in spite of weak demand scenario.
  • Total income from operations was Rs 4,141.97 crore,, down 4% against Rs 4,317.43 crore, in FY24
  • Volume in Resin segment grew by 13% to 2,22,708 MT in FY25 against 1,96,542 MT in FY24.
  • EBITDA stood at Rs 475.80 crore, down by 19% against EBITDA of Rs 584.45 crore, for FY24.
  • Profit after tax was increased to Rs 777.86 crore, (including exception gain) for FY25 compared to Rs 455.30 crore, in FY24.

Commenting on the quarterly and annual results, Prakash P. Chhabria, Executive Chairman, Finolex Industries said, “FIL has registered modest volume growth in Pipes & Fittings volume in-spite of weak demand scenario during the quarter and year. The operating performance of the Company is muted mainly due to weaker realization on account of volatility in PVC prices. The Company’s endeavor to grow in non-agri segment is on going.”

Result PDF

Plastic Products company Finolex Industries announced Q3FY25 results

  • Volume in Pipes & Fittings segment increased by 5% to 85,767 MT against 81,312 MT in Q3FY24.
  • Total income from operations was Rs 1,001.24 crore down 2% against Rs 1,019.69 crore in Q3FY24.
  • Volume in PVC Resin segment increased by 30% to 56,830 MT against 43,737 MT in Q3FY24.
  • EBITDA stood at Rs 83.43 crore against the EBITDA of Rs 119.90 crore for Q3FY24.
  • PAT stood at Rs 70.96 crore in against PAT of Rs 89.21 crore in Q3FY24.

Prakash P. Chhabria, Executive Chairman, Finolex Industries, said: “FIL has registered modest volume growth in Pipes & Fittings volume inspite of weak demand scenario during the quarter. The operating performance of the Company are muted mainly due to weaker realisation. The Company’s continuous efforts to penetrate into the non-agri segment is going on.”

Result PDF

Plastic Products company Finolex Industries announced H1FY25 & Q2FY25 results

Q2FY25 Financial Highlights:

  • Volume in Pipes & Fittings segment increased by 10% to 69,341 MT against 62,914 MT in Q2FY24.
  • Total income from operations was Rs 828.43 crore down 6% against Rs 883.15 crore in Q2FY24.
  • Volume in PVC Resin segment increased by 7% to 40,236 MT against 37,516 MT in Q2FY24.
  • EBITDA stood at Rs 10.57 crore against the EBITDA of Rs 102.98 crore for Q2FY24.
  • PAT stood at Rs 51.44 crore in against PAT of Rs 93.78 crore in Q2FY24.

H1FY25 Financial Highlights:

  • Volume in Pipes & Fittings segment was up by 3% to 1,59,961 MT in H1FY25 against 1,55,095 MT in H1FY24.
  • Total income from operations was Rs 1968.92 crore, down 5% against Rs 2,062.32 crore in H1FY24.
  • Volume in Resin segment grew by 31% to 1,09,860 MT in H1FY25 against 83,590 MT in H1FY24.
  • EBITDA stood at Rs 217.22 crore down by 15% against EBITDA of Rs 255.45 crore for H1FY24.
  • Profit after tax was increased to Rs 556.64 crore (including exception gain) for H1FY25 compared to Rs 204.66 crore in H1FY24..

Prakash P. Chhabria, Executive Chairman, Finolex Industries said: “FIL has registered robust Pipes & Fittings demand in volume terms during the quarter. Operating performance of the company were muted during the quarter due to volatility in PVC price, prolonged monsoon. The Company’s continuous efforts to penetrate into the non-agri segment will reflect in improved earnings performance going forward.”

Result PDF

Plastic products company Finolex Industries announced Q1FY25 results:

  • Total income from operations was down 3.28% to Rs 1,140.49 crore for Q1FY25 against Rs 1,179.17 crore in Q1FY24.
  • Volume in Pipes & Fittings segment decreased by 1.69% to 90,620 MT in Q1FY25 against 92,181 MT in Q1FY24.
  • Volume in PVC Resin segment was up 51.11% to 69,625 MT in Q1FY25 against 46,074 MT in Q1FY24.
  • EBITDA stood at Rs 206.65 crore for Q1FY25, up 35.53% compared to the EBITDA of Rs 152.47 crore for Q1FY24.
  • PAT stood at Rs 505.20 crore (Including exceptional item of Rs. 416.99 Cr) in Q1FY25 against Rs 110.88 crore in Q1FY24.

Commenting on the quarterly results, Prakash P. Chhabria, Executive Chairman, Finolex Industries said, “Operating performance of the Company improved due to growth in the plumbing and sanitation segment and increase in PVC pricing. Demand remained stable during the quarter with higher growth seen from the non-agri (urban) segment compared to agri segment. The company’s continuous efforts to penetrate into the non-agri segment will reflect in improved earnings performance going forward”

Result PDF

Plastic Products company Finolex Industries announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Total income from operations was up 8.27% to Rs 1,235.42 crore for Q4FY24 against Rs 1,141.06 crore in Q4FY23.
  • Volume in Pipes & Fittings segment increased by 22.98% to 1,00,171 MT in Q4FY24 against 81,452 MT in Q4FY23.
  • Volume in PVC Resin segment was up 19.07% to 69,215 MT in Q4FY24 against 58,132 MT in Q4FY23.
  • EBITDA stood at Rs 208.93 crore for Q4FY24, down 3.91% compared to the EBITDA of Rs 217.43 crore for Q4FY23.
  • PAT increased by 1.95% to Rs 161.43 crore in Q4FY24 against Rs 158.35 crore in Q4FY23.

FY24 Financial Highlights:

  • Total income from operations was Rs 4,317.43 crore for FY24 – down 1.81% against Rs 4,397.05 crore in FY23.
  • Volume in Pipes & Fittings segment grew 11.07% to 3,36,577 MT in FY24 against 3,03,026 MT in FY23.
  • Volume in Resin segment decreased by 17.98% to 1,96,542 MT in FY2024 against 2,39,638 MT in FY 23
  • EBITDA for FY24 stood at Rs 584.85 crore for FY24 against Rs 292.54 crore for FY23.
  • Profit after tax increased to Rs 455.30 crore in FY24 compared to Rs 236.59 crore in FY23.

Commenting on the quarterly results, Prakash P. Chhabria, Executive Chairman, Finolex Industries Limited said, “PVC prices remained stable during the second half of the year, leading to a healthy demand. Our operating performance during the year has been robust and with the company’s increased focus on the plumbing and sanitation segment, the same is expected to improve further.”

Result PDF

Plastic Products company Finolex Industries announced Q3FY24 & 9MFY24 results:

Standalone Q3FY24:

  • Total income from operations was Rs 1,019.69 crore for Q3FY24 – down 9.34% against Rs 1,124.76 crore in Q3FY23.
  • Volume in Pipes & Fittings segment decreased by 10.05% to 81,312 MT in Q3FY24 against 90,396 MT in Q3FY23.
  • Volume in PVC Resin segment was down 32.40% to 43,737 MT in Q3FY24 against 64,696 MT in Q3FY23.
  • EBITDA stood at Rs 119.90 crore for Q3FY24, up 30.51% compared to the EBITDA of Rs 91.87 crore for Q3FY23.
  • PAT increased by 23.78% to Rs 89.21 crore in Q3FY24 against Rs 72.07 crore in Q3FY23

Standalone 9MFY24: 

  • Total income from operations was Rs 3,082.01 crore for 9MFY24 – down 5.34% against Rs 3,255.99 crore in 9MFY23.
  • Volume in Pipes & Fittings segment grew 6.69% to 2,36,406 MT in 9MFY24 against 2,21,574 MT in 9MFY23
  • Volume in Resin segment decreased by 29.85% to 1,27,327 MT in 9MFY24 against 1,81,506 MT in 9MFY23
  • EBITDA for 9MFY24 stood at Rs 375.92 crore for 9MFY24 against Rs 75.11 crore for 9MFY23.
  • Profit after tax was increased to Rs 293.87 crore in 9MFY24 compared to Rs 78.24 crore in 9MFY23.

Commenting on the quarterly results, Prakash P. Chhabria, Executive Chairman, Finolex Industries said, “FY23 had seen a huge pent-up agri-pipes and fittings demand, leading to highest ever pipes and fittings sale in the country. Despite the previous year’s high base, our business is witnessing strong volume growth, especially in the plumbing and sanitation products. PVC prices are expected to be range bound and hence, consumption-led demand is expected to remain sturdy in both the rural and the urban segments.”

 

Result PDF

Plastic Products company Finolex Industries announced Q2FY24 & H1FY24 results:

1. Financial Highlights:
- Total income from operations for Q2FY24 was Rs 883.15 Cr, a decrease of 6.16% compared to Q2FY23.
- EBITDA stood at Rs 102.98 Cr, showing a significant improvement from the EBITDA loss of Rs 142.67 Cr in Q2FY23.
- Profit after tax (PAT) for Q2FY24 was Rs 93.78 Cr, compared to a loss of Rs 93.92 Cr in Q2FY23.
- Sales volume in the Pipes and Fittings segment increased by 6.24% to 62,914 MT in Q2FY24.

2. Operational Performance:
- Volume in the PVC Resin segment decreased by 30.61% to 37,516 MT in Q2FY24 compared to Q2FY23.
- The volume in the Pipes and Fittings segment grew by 6.24% to 62,914 MT in Q2FY24.

3. Half-Yearly Performance:
- Total income from operations for H1FY24 was Rs 2,062.32 Cr, showing a decrease of 3.22% compared to H1FY23.
- Volume in the Pipes and Fittings segment grew by 18.23% to 1,55,095 MT in H1FY24 compared to H1FY23.
- Volume in the PVC Resin segment decreased by 28.44% to 83,590 MT in H1FY24 compared to H1FY23.
- EBITDA for H1FY24 stood at Rs 255.45 Cr, significantly improving from the EBITDA loss of Rs 16.76 Cr in H1FY23.
- PAT for H1FY24 was Rs 204.66 Cr, compared to Rs 6.17 Cr in H1FY23.

Management Quote (verbatim):
Mr. Prakash P. Chhabria, Executive Chairman, Finolex Industries Limited, said, “Indian economy is displaying continued consumption led growth in both the rural and the urban segments of the country. The pipes and fittings segment which plays an important role in contributing to economic growth has been growing strong on a year-on-year basis. The global PVC prices are near historic lows, which might bolster pipes and fittings demand once prices stabilize."

 

 

Result PDF

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