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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.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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