Finolex Industries
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Finolex Industries (FINPIPE) investor relations material

Finolex Industries Q3 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 25/26 earnings summary2 Feb, 2026

Executive summary

  • Q3 FY26 saw a 14% year-over-year volume decline to 73,500 MT and a 10% drop in revenue, mainly due to the monsoon and weak PVC prices, but EBITDA improved to ₹123 crore from ₹83 crore and PAT increased to ₹110 crore from ₹71 crore.

  • For the nine months ended Dec 2025, volumes fell 6% year-over-year, but EBITDA improved 15% to ₹347 crore, and PAT (excluding last year's exceptional gain) rose to ₹326 crore.

  • Strong liquidity position with net cash/free cash of ₹2,430 crore as of Dec 31, 2025.

  • Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, were approved and reviewed by the Board and auditors.

  • Results prepared in compliance with Ind AS 34 and SEBI Listing Regulations.

Financial highlights

  • Q3 FY26: Volume 73,500 MT (-14% YoY), revenue/income from operations ₹898 crore (-10% YoY), EBITDA ₹123 crore (+48% YoY), PAT ₹110 crore (+55% YoY), PBT ₹146 crore (up from ₹95 crore YoY).

  • 9M FY26: Volume 230,965 MT (-6% YoY), revenue/income from operations ₹2,800 crore (-6% YoY), EBITDA ₹347 crore (+15% YoY), PAT ₹326 crore (excluding prior year exceptional gain), PBT ₹430 crore (up from ₹385 crore YoY).

  • Standalone revenue for Q3 FY26 was ₹897.66 crore, with standalone net profit at ₹109.99 crore and consolidated net profit at ₹116.08 crore.

  • For the nine months ended December 31, 2025, standalone net profit was ₹326.12 crore and consolidated net profit was ₹337.79 crore.

  • Net cash/free cash stood at ₹2,430 crore as of Dec 31, 2025.

Outlook and guidance

  • Q4 is expected to see a seasonal demand pickup, with full-year volumes likely to be flat or slightly higher year-over-year.

  • Management aims to maintain EBITDA margins at current levels (around 12% for the full year).

  • Industry and company growth for FY27 is expected to be moderate, with a focus on maintaining market share.

  • Operating performance improved despite revenue headwinds, indicating resilience in cost management and operational efficiency.

  • The company has realigned its internal reporting structure to focus on a single integrated business of Pipes and Fittings from April 1, 2025.

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Q4 25/2622 May, 2026
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Q4 25/2622 May, 2026

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