Finolex Industries

Nykaa, Finolex, Exide see Death Cross on chart; stocks can fall up to 20%

The 'Death Cross' term is used when the stock's 50-DMA falls below 200-DMA; which in general leads to a tepid trend thereafter.

Astral, Century Plyboard surge up to 5% on anti-dumping duty extension

The shares of building material companies such as Astral, Century Plyboard, Finolex Industries soared up to 5 per cent in intraday deals on Monday

Finolex Q4 results: PAT grows 2% to Rs 161 crore, total income up 8%

Pipes maker Finolex Industries Limited has posted about a 2 per cent rise in its standalone profit after tax to Rs 161.43 crore in the March 2024 quarter on the back of higher revenues. It had posted a profit after tax of Rs 158.35 crore in the corresponding period of the preceding fiscal, the company said in a statement on Saturday. The total income from operations during the quarter under review also rose 8.27 per cent to Rs 1,235.42 crore from Rs 1,141.06 crore in the year-ago period, it added. The company's EBITDA fell 3.91 per cent to Rs 208.93 crore in the last quarter compared to Rs 217.43 crore a year ago. 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".

Finolex Industries Oct-Dec quarter net profit grows 24% to Rs 89.21 cr

Agri-focused pipes maker Finolex Industries on Friday reported nearly 24 per cent growth in net profit to Rs 89.21 crore for the third quarter ended December 2023, despite a decline in income from operations. The Pune-based company said its sales revenue declined by 9.3 per cent to Rs 1,019.69 crore during the reporting quarter and also saw its finance cost rise to Rs 7.7 crore from Rs 5.13 crore year-on-year. The company's profit margin rose to 8.7 per cent from 6.4 per cent in the year-ago period, the company said in a statement. Overall sales declined as PVC resin sales plunged 43 per cent to 2,759 MT from 4,863 MT, while pipes and fittings declined 10 per cent to 81,312 MT from 90,396 MT. Finolex executive chairman Prakash Chhabria said the marginal decline in volume was due to a high base, as FY23 saw a huge pent-up demand for agri-pipes and fittings, leading to highest-ever sales in the country. But this is taken care of by the soaring demand for plumbing and sanitation

Finolex Industries Q2 results: Net profit at Rs 97.96 cr, revenue down 6%

PVC pipes and fittings manufacturer Finolex Industries on Saturday reported a consolidated profit of Rs 97.96 crore for the quarter ending September 30. The company had posted a loss of Rs 95.38 crores during the corresponding quarter of the previous financial year, Finolex Industries said in a regulatory filing. Revenue from operations of the company, however, witnessed a decline of 6.16 per cent during the quarter under review at Rs 883.15 crores compared to Rs 941.13 crores in the same period of the previous fiscal. "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 pipe and fittings demand once prices stablise," Finolex Industries Prakash P Chhabria Executive Chairman said. Shares of the company on Frid

Finolex case: SC issues notices to NCLAT judicial member, technical member

In an unusual move, the Supreme Court on Wednesday issued notices to the National Company Law Appellate Tribunal judicial member Rakesh Kumar and technical member Alok Srivastava, asking them why contempt proceedings be not initiated against them for defying apex court orders in Finolex Cables disputes matter. A bench headed by Chief Justice DY Chandrachud took strong exception to the passing of a judgement by the NCLAT bench. The top court set aside the NCLAT bench's October 13 judgement relating to the annual general meeting (AGM) of Finolex Cables without going into its merit. The bench also comprising Justices JB Pardiwala and Manoj Misra said the case would be heard by NCLAT chief Justice Ashok Bhushan. "NCLAT has got down to a rot now. This case is an illustration of that rot.We are prima facie of the view that the members of the NCLAT have failed to disclose correct facts. "We are of the view that it is necessary to pass orders to ensure that the dignity of this court is ..

Supreme Court allows Orbit Electricals to vote in Finolex Cables' AGM

The dispute is related to the executive control of Finolex Cables involving the cousins Prakash and Deepak Chhabria

Finolex Industries net profit rises over 10% to Rs 111 crore in Q1

Pipes maker Finolex Industries on Wednesday reported over 10 per cent growth in net profit at Rs 110.88 crore in the June quarter, even though the income declined a notch to Rs 1,179.2 crore from Rs 1,189.8 crore. The 10.8 per cent spike in bottomline was helped by a healthy rise in margins, which rose to 12.93 per cent from 10.58 per cent a year ago, on higher per unit reaslisaiton, the company said. Its volume, primarily pipes and fittings, rose 28.1 per cent to 92,181 tonnes from 71,960 tonnes a year ago, the Pune-based company said in a statement. But volume in PVC resin segment was down 26.57 per cent to 46,074 tonnes from 62,746 tonnes. Prakash P Chhabria, executive chairman, said the overall economic recovery has led to a strong demand which in turn has been driving volume growth in pipes and fittings segment.

Finolex Industries hits over 10-month high; surges 8% on heavy volumes

The biggest drivers of growth in the Indian piping industry are the rising demand for the irrigation, water supply and sanitation sectors

Near term margins may remain subdued for Astral, high valuation weighs

The company underperformed peers on the volume front in Q2, though margin impact was lower given value-added mix

Finolex produced short film Pralhad based on book 'There's No Such Thing as a Self-Made Man'

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Finolex Industries' net profit declines 30.5% to Rs 178 cr in Dec quarter

Finolex Industries reported a massive 30.5 per cent decline in net income to Rs 1,177.8 crore for the three months to December 2021 from Rs 255.9 crore a year ago

Finolex Industries zooms 15% on strong operational performance in Q4

In the past three months, the stock has outperformed the market by zooming 62 per cent, as compared to 8 per cent gain in the S&P BSE Sensex

Finolex Industries turns ex-date for 1:5 stock split, hits 52-week high

In the past one month, stock has rallied 12 per cent as compared to a 5 per cent decline in the S&P BSE Sensex.

Finolex Industries surges 16% on robust Q3 results, 1:5 stock split

The company said the rationale behind the stock split is to improve the liquidity of the company's shares on the stock market and also to make the same available to small investors

Finolex Cables targets Rs 500 cr revenue from new vertical by fiscal 2022

The company is eyeing at least Rs 500 crore revenue from its new consumer-facing electrical accessories business by the next fiscal.

Finolex Industries surges 9% on healthy September quarter numbers

In Q2FY21, the Ebitda margin improved to 24.7 per cent from 14.2 per in the corresponding quarter of the previous year.

Nifty view and trading ideas by HDFC Securities: Buy Britannia, Finolex Ind

Here are the technical recommendations by Vinay Rajani, Technical & Derivatives Analyst, HDFC Securities.

Finolex Industries Q4 net jumps three-fold to Rs 78 cr

Net sales up 2.9% to Rs 799 crore; Full-year profit up more than five-fold to Rs 233 cr