Finolex came out with good Q2 nos . Even though revenue decreased by 6% yoy due to drop in PVC prices, EBITDA increased to 103 cr compared to loss in Q2 Fy 23. Loss in Q2 was mainly due to inventory write down due to drop in pvc prices.
Pvc pipes and fittings volume increased to 62,914 MT(+6%) , pvc resin volume reduced by 30%.
Their revenue contribution from non-agri segment is at 40% now which is increasing slowly.
Demand for pipes and fittings remains good and management has guided for 15-20% growth.
PVC prices have seems to be corrected again during October first week as indicated during concall which may lead inventory write down again as happened during last FY.
Any source to track pvc price trend??
Discl: tracking