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Finolex Industries Q2: Revenue rises 27% on 28% volume growth, EBITDA declines - Published OnOct 30, 2026 | 23:40 IST - Last Updated OnOct 30, 2026 | 23:40 IST Surging demand fueled double-digit volume expansion and revenue growth for the manufacturer, yet climbing input expenses eroded operating margins. Despite holding a substantial cash reserves buffer, profitability faced minor headwinds over the quarter. Discover how management plans to protect margins against rising raw material volatility. Finolex Industries reported a 27% year-on-year increase in revenue to ₹1,094 crore in Q2 FY27, compared with ₹859 crore in the corresponding quarter last year, supported by a 28% growth in volumes. Volumes stood at 83,407 metric tonnes (MT) during the quarter, up from 65,336 MT in Q2 FY26. However, higher material costs offset the benefits of volume growth, resulting in a decline in operating performance. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at ₹124 crore in Q2 FY27, compared with ₹130 crore in the year-ago period. Profit before tax (PBT) declined to ₹153 crore from ₹158 crore. The company reported a strong liquidity position, with net free cash of approximately ₹2,584 crore. H1 FY27 performance For the first half of FY27, Finolex Industries reported a 4% increase in revenue to ₹1,978 crore, compared with ₹1,902 crore in H1 FY26, despite a 4% decline in volumes. Volumes stood at 1,51,106 MT during H1 FY27, compared with 1,57,465 MT in the year-ago period. Improved realisations and healthy volume growth in Q2 supported revenue growth despite lower overall volumes. EBITDA remained broadly stable at ₹231 crore, compared with ₹223 crore in H1 FY26, while EBITDA margin was maintained at around 12%, despite lower overall volumes and higher material costs. PBT increased to ₹300 crore in H1 FY27 from ₹284 crore in the corresponding period last year. Finolex Industries shares fall 3.2% on NSE, ahead of Q2 earnings announcement. Also Read: Tata Motors’ Iveco takeover offer turns unconditional as shareholding reaches 89%
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