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Finolex Industries Ltd.

BSE: 500940 Sector: Industrials
NSE: FINPIPE ISIN Code: INE183A01024
BSE 00:00 | 21 Jun 168.80 -0.70
(-0.41%)
OPEN

168.90

HIGH

169.60

LOW

166.00

NSE 00:00 | 21 Jun 168.60 -0.75
(-0.44%)
OPEN

168.00

HIGH

169.45

LOW

165.45

OPEN 168.90
PREVIOUS CLOSE 169.50
VOLUME 50822
52-Week high 177.00
52-Week low 86.85
P/E 21.53
Mkt Cap.(Rs cr) 10,474
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 168.90
CLOSE 169.50
VOLUME 50822
52-Week high 177.00
52-Week low 86.85
P/E 21.53
Mkt Cap.(Rs cr) 10,474
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Finolex Industries Ltd. (FINPIPE) - Chairman Speech

Company chairman speech

Operations and positive feedback from customej Given these guiding principles andcommitments I now present to you the financial numbers for your review and interest.Bearing in mind these unique circumstances your company has recorded a decline of 3.4% intotal revenue from operations to H 2986 crores as compared to H 3091 crores in theprevious year. The bottom line has registered a slight drop of 7.3% to reach H 324 croreswith a margin of 10.9%.

The Government has announced multiple initiatives for both the agricultural andnon-agricultural sectoj A budget of H 2.83 lakh crore has been allocated for theAgriculture and Allied Activities sector. The Jal Jeevan Mission which aims to ensureaccess to piped water in rural areas was one of these initiatives. For allied sectorsthe focus revolves around housing (Pradhan Mantri Avas YoJana) healthcare infrastructure(PM Jan Arogya YoJana) and the environment (Swachh Bharat Mission). These initiatives willeventually improve demand for pipes and fittings as upcoming proJects in these sectorsgain prominence and thereby enable a promising future for our industry. In the comingyears we will be consolidating our Pipes and Fittings business more so in the plumbingrange and will continue to expand the product portfolio and distribution network. We alsointend to promote brand and quality consciousness amongst consumej Banking on keystrategic efforts your company is expected to achieve more success in the coming years aswe remain committed to improvement and growth. Our endeavor to meaningfully contribute tosociety continues to drive us to be better. In partnership with Mukul Madhav Foundation(MMF) which has relentlessly worked on

We will be consolidating our Pipes and Fittings business more so in the plumbingrange and will continue to expand the product portfolio and distribution network.

our behalf to carry out CSR activities we have been able to help those who need usmost. The Foundation has been working in the healthcare arena to provide financialassistance to patients organize free health camps offer infrastructure support tohealthcare institutions and promote better health and hygiene practices. We also supporteducation at all levels. We assist schools in and around our factories in Maharashtra andGuJarat by providing infrastructure water facilities toilets books and sports equipmentto support the all-round development of children. Along with this we also focus on areaslike social and community welfare sanitation water conservation and women empowerment.Our support is extended to frontline warriors daily wage earners and migrant workers themarginalized flood victims vulnerable children and senior citizens who are in needthroughout the country.

During the recent lockdown after the COVID-19 outbreak we also provided PPE suitsventilators disinfectants grocery kits and other essential commodities to hospitals andother organizations.

Overall your company lived up to its commitment as proclaimed by its founder lateMr. Pralhad P. Chhabria – a man who believed that one has to look for opportunitiesto help people even if that service demands sacrifice. A maJor contributor to the successof any organization is its employees. We at Finolex value and appreciate the hard workdedication and constant efforts of our people. Our employees are the strongest pillars ofour growth enabling and ensuring sustainable performances year after year. Therefore westrive to protect our staff even in difficult times such as this. In the wake of theCOVID-19 crisis we followed social distancing norms and other precautionary steps evenbefore the nationwide lockdown was imposed to ensure maximum safety of all employees andother staff. To reassure and stand by our employees during a tough year the companydecided to pay full salaries even during the lockdown. I would like to express mygratitude to the Board and the entire management of Finolex for their exceptionalcontributions and . commitment towards the organization. It is also time to thank you ourvalued shareholders for your constant support and shared belief in the company. With thecontinued support and trust of our stakeholders customers dealers vendors andemployees we remain motivated to embark on an exciting Journey to the future.

Regards

Prakash P. Chhabria Executive Chairman