Shares of the country's leading PVC pipe maker - Finolex Industries - rose as much as 14.54 per cent to hit record high of Rs 198.90 after it reported strong March quarter earnings. Finolex Industries' net profit in quarter ended March 2021 jumped 5.34 times to Rs 297.33 crore compared with Rs 55.71 crore during the same period last year. Finolex Industries' revenue from operation rose 63 per cent to Rs 1,249.34 crore versus Rs 768.66 crore in the corresponding period a year ago.
Finolex Industries staged a strong operational performance in January-March period as its earnings before interest, tax, depreciation and amortization (EBITDA) or operating profit jumped 296 per cent to Rs 410 crore versus Rs 103.53 crore in the year ago period.
Its operating profit margin or EBITDA margin improved to 32.8 per cent versus 13.5 per cent in the year ago period.
Finolex Industries Limited (FIL) is India's largest and only backward integrated PVC pipes and fittings manufacturer with a production capacity of 3,70,000 MT per annum.
As of 1:24 Finolex Industries shares traded 6.3 per cent higher at Rs 185, outperforming the Sensex which was down 0.2 per cent.
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