Q4 2024 Finolex Industries Ltd Earnings Call Transcript
Key Points
- Finolex Industries Ltd (BOM:500940) reported a strong Q4 FY24 with over 23% growth in volumes, leading to increased profitability.
- Total income from operations for Q4 FY24 was INR1,235.42 crores, up 8.27% year-on-year.
- The pipes and fittings segment saw a significant volume increase of 22.98% year-on-year.
- The company has a strong balance sheet with a net cash surplus of roughly INR1,820 crores as of March 31, 2024.
- The company has implemented a loyalty program that has received strong feedback and is expected to be launched widely across India within a year.
- EBITDA declined by 3.91% year-on-year to INR208.93 crores in Q4 FY24.
- EBITDA margin decreased to 16.9% in Q4 FY24 from 19.1% in Q4 FY23.
- The PVC resin segment's EBIT decreased significantly to INR66.63 crores in Q4 FY24 from INR117.25 crores in Q4 FY23.
- There was a buildup of inventory on the resin side, which is not considered a normal phenomenon.
- The company faces fierce competition in the market, which has led to pricing actions by competitors in some regions.
Ladies and gentlemen, good day, and welcome to Finolex Industries Q4 FY24 conference call hosted by ICICI Securities. (Operator Instructions) Note that this conference is being recorded. I now hand the conference over to Mr. Sohil Kaura from ICICI Securities.
Thank you. Good morning, ladies and gentlemen. On behalf of ICICI Securities, I welcome you all to the Q4 FY24 fourth earnings conference call of Finolex Industries Limited. On behalf of the management, we have Mr. Ajit Venkataraman, MD, and Mr. Niraj Kedia, CFO. I now hand over the call to management for their opening remarks, post which, we will open the forum for Q&A. Thank you and over to you, sir.
Thank you, Sohil, and good morning, ladies and gentlemen. Welcome to the investor conference call for Q4 FY24 and FY24 earnings release. We thank you all for your continued support and interest in Finolex Industries Limited. The company closed the quarter on a very strong
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