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IDBI Capital Report
Finolex Industries Ltd. reported its best-ever quarterly performance on all key parameters.
Net sales increased 23.9% YoY to Rs 12.4 billion, while Ebitda came in at Rs 4.1 billion, a robust growth of 57.8% over Q4 FY20.
The company reported net profit of Rs 2.9 billion compared to Rs 587 million in Q4 FY20.
The management attributed Q4 FY21 performance to higher sales volume and improved realisations.
Amid pandemic, demand has shifted from unorganised to organised players.
Though second wave of Covid-19 led lockdown has weighed on demand for agri-pipes in Q1 FY22E, the management cited that demand may come back in Q2 FY22E, if things normalise.
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