Finolex Industries

** Shares of pipes and fittings manufacturer Finolex Industries FINX.NS jump as much as 12.50%, the biggest intraday percentage rise in 14 months, to 200.4 rupees

** FINX posts about 59% year-on-year growth in consolidated profit and 12% rise in revenue in the March quarter, after market hours on Tuesday

** Operating profit margin expands to 25.3% in the quarter from 14.6% last year

** Revenue growth in Q4 was aided by better realisations while liquidity of the company remains strong, FINX says

** Stock most active in 14 months, with trading volume of 24,918,445 shares as of 1:00 p.m. IST, about 65 times the 30-day average

** Average rating of 15 analysts tracking FINX is "buy"; median price target is 200 rupees, data compiled by LSEG shows

** FINX shares are up 11.5% YTD, according to exchange data

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Nov 20 (Reuters) - Finolex Industries Ltd FINX.NS:

• APPOINTS SAURABH DHANORKAR AS MD

• AJIT VENKATARAMAN TO STEP DOWN AS MD

Source text: ID:nBSE5FxWcg

Further company coverage: FINX.NS

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Aug 6 (Reuters) - Finolex Industries Ltd FINX.NS:

• FINOLEX INDUSTRIES LTD - GOT TAX DEMAND OF 6 MILLION RUPEES WITH PENALTY OF 39.7 MILLION RUPEES

Source text for Eikon: ID:nNSE8PS5xM

Further company coverage: FINX.NS

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May 10 (Reuters) - Finolex Industries Ltd FINX.NS:

• FINOLEX INDUSTRIES MARCH-QUARTER CONSOL PROFIT 1.65 BILLION RUPEES VERSUS PROFIT 1.67 BILLION RUPEES

• FINOLEX INDUSTRIES MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 12.35 BILLION RUPEES VERSUS 11.41 BILLION RUPEES

Source text for Eikon: ID:nNSE84kT0B

Further company coverage: FINX.NS

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April 11 (Reuters) - Finolex Industries Ltd FINX.NS:

• CFO NIRAJ KEDIA RESIGNS

Source text for Eikon: ID:nBSE3cHY9L

Further company coverage: FINX.NS

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** Shares of Astral ASTL.NS drop 3% to 1819.05 rupees as analysts flag valuation concerns

** Pipes maker posts sequential decline in Q3 operating profit due to moderation in pipe volume growth, says Kotak Institutional Equities

** Reiterates "sell", citing rich valuation that "leaves no room for disappointment"

** Antique Stock Broking Systematix Institutional Equities also flags rich valuations despite expecting sustained earnings growth

** ASTL's trailing 12-months PE is 91.65, much higher than peers Finolex FINX.NS and Prince Pipes PRCE.NS - LSEG data

** The mean recommendation of 21 analysts tracking ASTL is equivalent of "hold"

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Jan 18 (Reuters) - Finolex Industries Ltd FINX.NS:

• INDIA'S FINOLEX INDUSTRIES DEC-QUARTER CONSOL PROFIT 954 MILLION RUPEES VERSUS 795.4 MILLION RUPEES

• FINOLEX INDUSTRIES DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 10.2 BILLION RUPEES VERSUS 11.25 BILLION RUPEES

Source text for Eikon: ID:nBSE10ptGP

Further company coverage: FINX.NS

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Dec 6 (Reuters) - Finolex Industries Ltd FINX.NS:

• RECEIVED ORDER FROM JOINT COMMISSIONER OF CGST, PUNE

• ORDER TO PAY TAX OF 31.6 MILLION RUPEES ALONG WITH PENALTY OF 3.2 MILLION RUPEES

• ORDER TO HAVE NO MATERIAL IMPACT ON FINANCIAL, OPERATIONS OR OTHER ACTIVITIES OF CO

Source text for Eikon: ID:nNSE90DV2W

Further company coverage: FINX.NS

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** Shares of Finolex Industries FINX.NS fall as much as 8.09% to 206.65 rupees

** The polyvinyl chloride pipes maker posts 6.17% Y/Y slide in Q2 revenue from operations

** Brokerage Investec terms the drop in revenue "dismal"

** Adds resolution on ownership dispute between Deepak Chhabria and Prakash Chhabria, crossholding of FINX and Finolex Cables could help in stock re-rating

** Finolex Cables shareholders, including Prakash Chhabria-controlled Orbit Electricals and Finolex Industries, voted against appointment of Deepak Chhabria as executive chairman

** Orbit Electricals and FINX hold 30.7% and 14.51% stake in Finolex Cables, respectively

** FINX down 6.36% in October and 18.5% YTD so far, including today's losses

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463))

** Shares of Finolex Industries FINX.NS rise as much as 2.95% to a two-month high of 189.90 rupees

** Stock up 4% since the pipes maker reported a rise in consolidated net profit in June quarter, post market hours on Wednesday

ROBUST VOLUMES TO DRIVE EARNINGS GROWTH

** Investec ("buy", PT: 245 rupees) sees multiple triggers for growth including import quotas for PVC pipes, incremental land sale; terms volume growth healthy

** Haitong International ("outperform", PT: 210 rupees) says performance in pipe segment aided June quarter results; expects strong volume growth in pipe segment and sees valuations as reasonable

** Equirus Securities ("long", PT: 213 rupees) expects 7% volume growth over fiscal 2023 to 2026 led by demand revival

** ICICI Securities ("buy", PT: raises to 230 rupees from 210 rupees) sees profitability in pipe segment to remain stable on strong volume growth, expects resin segment performance to improve

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463))

** Shares of Finolex Industries FINX.NS up as much as 3% at 186.2 rupees

** Stock touches highest level since May 24, on track for a second consecutive session of gains, if trends hold

** Pipes maker reports 16.2% Y/Y rise in profit, while revenue from ops slips nearly 1%

** More than 1.3 mln shares traded by 12:17 p.m. IST, 1.3x the 30-day avg - Refinitiv data

** Eight of the 13 analysts have "buy" or higher rating, four "hold," one "sell;" median PT 204 rupees

** As of last close, stock down 3.4% YTD

($1 = 82.0400 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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July 19 (Reuters) - Finolex Industries Ltd FINX.NS:

• INDIA'S FINOLEX INDUSTRIES JUNE-QUARTER CONSOL PROFIT 1.15 BILLION RUPEES VERSUS PROFIT 992.2 MILLION RUPEES

• FINOLEX INDUSTRIES JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 11.79 BILLION RUPEES VERSUS 11.90 BILLION RUPEES

Source text for Eikon: ID:nBSE3l8nms

Further company coverage: FINX.NS

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June 1 (Reuters) - Finolex Industries Ltd FINX.NS:

• FINOLEX INDUSTRIES LTD - ANIL V. WHABI RETIRES AS MD

• FINOLEX INDUSTRIES LTD - NAMES AJIT VENKATARAMAN AS MD

• FINOLEX INDUSTRIES LTD - AJIT VENKATARAMAN CEASED AS CEO

Source text for Eikon: ID:nBSEc7LP51

Further company coverage: FINX.NS

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** Shares of Finolex Industries Ltd FINX.NS fall as much as 5.7% to 180.05 rupees

** Pipes maker reports 66.4% drop in consolidated profit at 1.67 bln rupees ($20.42 mln) for the March qtr

** Revenue from ops falls 28.4% to 11.41 bln rupees

** FINX logs steepest pct loss since Dec. 23, 2022

** About 1.5 mln shares traded by 11:46 a.m. IST, 1.8x the 30-day avg - Refinitiv Data

** Nine of the 14 analysts on stock have a "buy" or higher rating, four "hold", while one recommends "sell"; median PT is 198 rupees

** Stock fell 8.9% during the March qtr; has risen ~7% since

($1 = 81.7800 Indian rupees)

(Reporting by Priya Sagar in Bengaluru)

(([email protected]))

** Indian pipes maker Finolex Industries FINX.NS to see strong margins in H1FY24, says HSBC Securities, upgrading co to "buy" from "hold"

** Brokerage increases TP to 225 rupees from 155 rupees, with an implied upside of 24.1%

** Co to benefit from improved PVC (polyvinyl chloride) margins, as recovery in Chinese real estate market will boost demand, says brokerage

** We believe costs for co should remain low in H1FY24, on use of low-cost stored feedstock - HSBC

** Rural recovery, drier monsoons due to possible El Nino effect "likely to increase need of irrigation through pipes" - HSBC

** Nine out of 14 analysts rate the stock "buy" or above, 4 suggest "hold" and 1 recommend "sell"; median TP 198 rupees - Refinitiv

** FINX largely unchanged so far this year

(Reporting by Hritam Mukherjee in Bengaluru)

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