Finolex Industries Q1 Review - Lower Sales Volume Weighed On Quarterly Results: IDBI Capital

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .IDBI Capital Report.Finolex Industries Ltd.’s Q1 FY22 result was below our estimates on key parameters. Statewise lockdown amid second wave of Covid-19 dented volume off-take in a seasonally good quarter for agri-pipes. On a low base of Q1 FY21, the earnings growth is encouraging; however, on a sequential quarter result has been subdued. Net sales increased by 71.8% YoY to Rs 9.6 billion, while Ebitda came in at Rs 2 billion, a robust growth of 137.3% over Q1 FY21. Finolex Industries reported net profit of Rs 1.4 billion compared to Rs 567 million in the same quarter last year. Despite a muted sales volume growth, the management reiterated to grow sales volume by ~10%-15% in FY22E and achieve pre-pandemic sales volume..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Finolex Industries Q1 Review - Lower Sales Volume Weighed On Quarterly Results: IDBI Capital

Finolex Industries Q1 Review - Lower Sales Volume Weighed On Quarterly Results: IDBI Capital

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