Shares of Finolex Industries Ltd hit a new high of Rs 198.90 after rallying 15 per cent on the BSE in intra-day trade on Monday after the company posted over a five-fold jump in profit after tax (PAT) at Rs 297 crore in the March quarter (Q4FY21), on the back of healthy operational performance.

The company, India’s most prominent and only backward integrated manufacturer of PVC pipes and fittings, had a profit after tax (PAT) of Rs 56 crore in Q4FY20. The stock surpassed its previous high of Rs 178.75, touched on June 23, 2021.

Total revenue registered year on year (YoY) growth of 62.5 per cent at Rs 1,249 crore. Ebitda (earnings before interest, taxes, depreciation, and amortisation) grew 305 per cent YoY at Rs 424 crore. Ebitda margin improved to 33.9 per cent from 13.6 per cent in a year-ago quarter.

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The company said PVC pipes & fittings volume registered a YoY decline of 3.6 per cent to 60,232 MT. PVC resin volume registered a YoY growth of 25.3 per cent to 75,281 MT. In the past three months, the stock has outperformed the market by zooming 62 per cent, compared to an 8 per cent gain in the S&P BSE Sensex.

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