Plant

Limited
-Maval,
India
N1981PLC024153

)ffice / Urse
Registered Office

Finolex lndustries
tries
Gat No 399, Village
Villag Urse, Tal
Dist Pune 4100 506,
50( IVaharashtra,
ctN 14C108PN198
I

+91 2114 237251 | 237253

Tel
Toll Free 1800 200 3466
Fax +91 2114 237252
Email investors@finolexind com
VVeb frnolexwater ccni

Iex

FIL: SEC: LODR R 30 and 33: UFR

December 8,2016
BSE Limited
Floor 25
P J Towers
Dalal Street
Mumbai 400 001

Scrip Code:
Eouitv
ISIN:
EUITY

5OO94O/FINOLEXIND

rNE183A01016

National Stock Exchange

of India Limited
Exchange Plaza
Bandra Kurla ComPlex
Bandra (E), Mumbai 400 051
Scrip Code:
Equity
NCDS
ISIN:
EOUITY
NCDs

FINPIPE

FINl6
rNE 183A01016

INE183A07047

Dear Sirs,

Sub: Outcome of the Board Meeting: Unaudited Standalone

Finan ta

Results for the quarter ended 30th September, 2016'

Pursuant to Regulations 30 and 33 of SEBI (Listing obligation" "ld Disclos Lr(

)rf
Requirement) Regulations, 2OI5, kindly be noted that the Board of Direcr
ia
z
inter
2016,
December,
8ft
i.e.
of the company at its meeting held today
taken on records the following:

1. Unaudited Standalone Financial Results of the Company for

2.
3.

4.

qua-rter ended 30th September, 2016'

Segment-wise Revenue, Results and Capital Employed for the qua
ended 30th September, 2016.
Limited review report of the statutory auditor for the said frnan :ia

results.
Financial results for the quarter ended 3oth september, 2016 in thr
prescribed format for publishing in newspapers'

We are enclosing herewith the said statements'

The aforesaid board meeting commenced at 4.15 p'm. and concluded at

p.m.

you are requested to kindly take the same on your record.

Thanking you,

oryte;r;:{.* #

ri::*l*:r ii:ir,;sii

)-': r liJ ri.l )

5t

+91 2114 237251 I 25/253

Tel
1800 2C0 3466
Free
Tol!
Fax +91 2114 237252
Email investors@finolexind corn
tn/eb finolexwater com

stered Office / Urse Plant

Registered
Limited
Indl
ex Industries
Finolex
39! Village Urse, Tai.-Maval,
Gat No.
'lo. 399,
Dist. Pune z410 506, Maharashtra, India

ctN

1 08PN
14010
L4O

981 PLC0241 53

'N

TDUSTRIESLIMIrED
Registeredoffice:GatNo.3gg,Urse,TalukaMava|,Pune.410506'GlN:L40108PN

981PLCO

41

53

Statement of unaudited standalone financial results

,o*,

tor rn" ou"*",

nr't

"no"o

tlnauOiteO

52,021.83

06 2016

Unaudited

76,998.41

016
ited

|
I

129,( 20.24

30 09 201

3009.

Unaudited

Unaui

52,920.

rlf vear Ended

30.09 2015
Unaudited

125 695.11

excise duty)
(b) Other OPerating Income
Total income from operations (net) (a) + (b)
Expenses
(a) Gost of materials consumed
(b) Changes in inventories of finished goods,
work-in-progress and stock'in'trade
(c) Excise dutY Paid
(d) Employee benefits expense
(e) Depreciation and amortisation expense

69287

318.19
52,340.02

77,691.28

27,660.71

"o

(1,035.73)

tions before other

(Rs. in lakhs)

1:ll=t"ro:"r::;

fnri-Iqn

Income from oPerations

(a) Net Sales/lncome from Operations (including

t"",

Particulars

Sr No

,l

"no

1qA 17

1,827.82

1'l

53,411. 0

130,i

491

31,152
402.

66'l

17,

6,737 0

6,657.46
2,541.24
1,387.78
1,787.24
6,029.62

10,405.09

45,028.32

63,093.43

,311.70

14,597.85

49,434 1
3,977 f9

317 21

1,141 t7

,|

893.62
8,205.32

14,91 5.06

5,118 )l

23

)4

22

2,715.88

2,048

1,326.21

1,264 6
1,929 ;7

2,

tZ

'12,

,619.40
6,002 86
1

5,
3,
1

08,

21,

d exceptional items (1'2)

ary activities
exceptional items

326.44

6
7

ary activities after

exceptional items

7,878.88

ary activities

7,878.88

79

10

rdinary activities after ta

'l'l

e period

('l'l -'l2l

22

2,747.20

oz+

5,131 .68

09

'|.4

5,131.68

09

14

936.10

5,131.68

09

gss.ro

t off tax expense)

12
13
14

74.

11,227 17

f associate

15
16

taxes, minority

ofit of

!j:<r *e/* t)

:i! , ,llal i;:i'

i::'

:! il':!,:r:'1,

c,

I ;,1*iex it;**l:,lries
l).i..

tl]1':*al

k:
l

a>t

:ti:/*it:,.i.i

2il::.1s*iai

l:,1

1l:i-lr;r'l

11,227 17

Tel

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Web

,x

'l||lt

+91 2114237251 | 2Y253

Toll Free 1800 200 3466
Fax +91 2114 237252

;tered Office / Urse Plant

Registered
:x Indt
lndustries Limited
Finolex
39! Village Urse, Tal.-Maval,
Jo 399,
Gat No
Pune'410 506, Maharashtra, lndia
Dist. Pune
clN 14010t
-401 08PN1 98 1PLCA24i53

irrvestors@ftnolexind com
finolexwater corn

INDI TFI'ES

FINOLEX INDUSTRIES I. .IMITED

Pune - 410 506. CIN: L4010EPN t981PLCC
Registered Office: Gat No. 399, Urse, Talu <a Maval,

Statement of unauc lited standalon r financial results

For the Quarter and h: rlf year ended 3 Oth September,2016

(Rs. in lakhs)
alt vear Enoeo
30.09.2015
30.0( 2016
Unaudited
Unat lited

trrarfcr Fnded
Particulars

Sr No

no ,na
I

Other ComPrehensive income

Profit / (Loss) for the period as per lnd AS
Other comprehensive income not to be
reclassified to profit or loss in subsequent
periods:
(net
Net (loss) / gain on FVOGI Equity securities

lnarrdilad

3n 06 2016
tJnaudited

17
18

19

30 09 201
Unauditet

5,131 .68

9,804 42

4,021 9

't4 r36. 10

18,573.35

17,310 08

(3,778. z6)

35 t83.43

(12 i7)

(26.e1)

4153

(85.57)

11,227

(11,581 87)
(1

0 40)

18,546.44

17,251 42

te.7o.1 43)

3f 797.86

(11,592 27)

23,678.1.2

27 055.83

zzY oo

5( 733.96

(365.10)

12.409.54

1Z,4UV.C4

7z4oe 54

1i 409.54

12,409.54

'tl 000.00

10,000 00

20
21

22
23

24(il
4.14

7.90

z1

12.04

905

4.',|4

790

24

12.04

905

0.05
1.83
27.96

0.10
3.28
6.09

24(ii

25
26
27

As
- +ha nariad

a)

\-----

:Orf,* ?"a e*
*o

iit.rltiex irdu;ille* ritclt*d

I

li-: l

i*x

-'a.l

rt

| ;:i :,]+'*li;li.j
: 2ii ?it*t*l'j

Registr
istered Office / Urse Plant
Finolex
lex lndustries Limited
Gat No.
No 399, Village Urse, Tal.-Maval,
410 506, Maharashtra, India
Dist Pune
PL
L4 0BPN 1 98 1 Pt-C024 1 53
CIN 1401

Tel

+91 2114 237251 I 237253

Toll

1800 200 3466

+91 2114 237252

Free

Fax
Email
Web

investcrs@finolexind com

IN

finolexwater com

Standalone segmentwise revenue, results , assets and liabilities

Standalon
lf year Ended
30 09 2015
Unaudited
Unau ited

Quarter Ended
30.09.2016

Particulars

Sr No

Unaudited

30.06.2016
Unaudited

30.09

30.09.201

Unaudited

016

SEGMENT REVENUE
Net Sale /lncome from each segment:

'l

a PVC

b PVG Pipes &

Fittings

c Power

Total
Less: Inter segment Revenue
Net Sales / Income from Operations

27,586.3',1

43,364.92

40,996.77
3,210.35
71,793.46

65,813.64
3,881.83
1 13,060.39

19,453.44
52,340.02

"4?4O11

28,018.4
,r,o

777

')

2,985

70,! i1.23

72,908 33
97 ,315 73

6,832.06
177,056.12
50,371 38

77,691.28

53,411.

0.40
7,1 t2.22
184,1 r3.85
54,1 t2.55
130,1 t1.30

8,900.02
RA77 Rq

1,981.

'14,' !3.53

8,90.1.97

2,7914

8,' )6.52

7,715.25

423

1,i t3.20

1,233 44
17,850 66

106,1

70,781.1
47 ?AO I

126,684 74

2 SEGMENT RESULTS

Profit/ (Loss) before tax and interestfrom each

segment:
a PVC

5,523.51

b PVG Pipes &

2,518.97

Fittings

581.41

c Power

8,623.89

Total
Less:
Finance costs
tl Other un-allocable expenditure
Add:
Other un-allocable income
Itotal Profit t (Loss) Before Tax

326.44

'|.,337.41

918.84

q1a7(

24,, t3.25

500.44
1,282.46

1,642,(

26.88

,482. t

2, t9.85

328.15

J,OCZ.i

1. 16.99

5,924.

22, 93.50

7.878.E6

'14.414.61

50,561.64

52,144 96
52,103 55
26,740 94
48,567.03
179.556.48

Capital employed : Segment Assets (-) Segment

Liabilities

a PVC
b PVC Pipes

52,179.75
23,737.17

& Fittings

c Power
d

1,291.79
15,869 36

73.757.30
200,235.86

Unallocated
Total

56,603

50, 61.64
52, 19.75
23, 37.17
73, 57.30

43,372. 4

25,270 8
bb_55b.
1

200, 35.86

93,603.

3,222.87
2,355.46
4,094 82
16,367 15

56,603 51
43,372.94

25,270.78
68,356 61
193.603.84

/r)
(_q--

$e
*{);'t<}.
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lli.!j1',

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t2ct253

office./.urs-e^Plant 11,' ,."" ;!ffi;lt Z'l:r'

Finolex Industries Limited
+91 2114 237252
Gat No. 399, Village Urse, Tal -Maval'
ltEmail
investors@finolexind
India
Dist. Pune 410 506, Maharashtra'
finolexwater'com
web
clN L4O108PN19B1PLCo ;153
Registered

com

Unauditedstandalonestatementofassetsandliabilitiesasat3othSeptember'2016

84,739 36
851 37

(a) Property, Plant and equiPment

24022
(c) Intangible assers
(d) Financial Assets

1oo,743 87

i) lnvestments
ii) Loans
iii) Other financial asser
(e) Tax assets (net)

160
6,235 98
1,377 98
2.166 34

38,57475
Financial assels
i) Investments
ii) Trade receivables
iii) Casn and cash equivalents
iv) Loans
current tax assets (net)
(d) Other Current Assets

4 FK6 RA

4,523

81

1,49473
16.08
1.781 04

iub-total current assets

a) Financial liabilities
i) Long term borrowlngs
ii) Other financial liabilities

41 66
1,265 16
12,309 22

ld) Government granls

5rU-tot"t non-current liabilities

a) Financial liabilities
i) Short-term borrowlngs
ii) Trade PaYables

5,977 37

dues of micro enterprises

enterpnses
and small
creditors other
ioiro,tr outstanding dues of
enterprises and small enterpnses
iii\ nther financial liabilities
granrs
me from government

iliioi"r l"itt"nding

#;;i;.

)
,i

12 47

,846 58
18,856 62
11

6,193.06

titbiliti"'

V!.a1:zlli

{e
nd

lilas
{;rP

o* l-imile*

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):;:tl'

+!;'t 2t 214C8?0[

.$1

2C

2.':48t*Ct

1,1tai1

.,l

l;:.i;l!
.,e.i:

-:.Y

l:,,:

t:t:

Registered Office / Urse Ptant

Tel

Finolex Industries Limited

Gat No 399, Village Urse, Tal -Maval,
Dist Pune 410 506 Maharashtra, India

Toll

crN

1401 08PN1 981 PLC024'1 53

Free

Fax
Email
\l/eb

+91 2114 237251 | 257253

1800 200 3466
+91 2114 237252
investors@finolexind com
finolexwater com

TRIES

Notes-

The above results have been reviewed by audit committee and approved by the Board at their
2016.

The quarter and six month period ended 30 September 2015 has not been subject to limited
has exercised necessary due diligence to ensure that the financial results provide a true and fair

held

the management
of its

As per the consistent accounting policy followed in the previous years, the Industrial Promotion
receivable for the oeriod ended on Seotember 30, 2016 (Rs.7424.15 lakhs for the period ended
credited to capital reserve. In the opinion of the company, although, the Accounting Standard AS
such accounting, there is no clearmandate in Ind AS 20 regarding treatment of capital subsidies.
the Government seeking clarification on this matter which is awaited Under the circumstances,
existing accounting policy The Company will revisit this policy on getting a clearer picture of the
These financial results have been prepared in accordance with the Companies (lndian
prescribed under section 133 of the Companies Act 201 3 read with note 3 above The company
from April 1, 2016 and the comparative numbers have been restated accordingly The impact of
the retained earning as on April 1,2015.

1.41 lakhs

30.2015) has been

GMP permitted
nas
an0

Standards
transited
has

Exceptional item for period ending 30th September 2015 represents electricity duty exemption
of eligibility certificate and sanction letter received under Package Scheme of Incentives from

for

The limited review of the financial results for the quarter ended September 201 6, pursuant to
(Listing obligations and Disclosure Requirements) Regulation, 2015 has been carried out by sl

33 (3)

As required by paragraph 32 of Ind-AS 10'1 First-time Adoption of Indian Accounting Standards,

follows:

Particulars

Quarter
Ended

Net profit as per Indian GMP

Net (loss)/gain on fair valuation of financial
instruments
lmpact of remesasurement of defined benefit plan
lmpact of measurement of financial liability at
amortised cost
Net (loss)/gain on FVOCI equity Securities
Deferred tax

Ended
30.09.2015
11,213.59
(3 40)

(5.01)

(10 01)

(3,778.75)

(11,599.70)
34.42

Profit as per Ind-AS

at fair

at fair value through

Directors
E

Pune

Executive
DIN

***wfee
1

li,'i.].3.il.

re through other

Previous periods'figures have been regrouped wherever necessary to conform to the currenl

8th December 2016

a (-1.

(i) of the SEBI

{365.1 0t

For

rt.-i i

periods in terms

ton f net profit is as

By

i:!,.l3ix r:dusirie*

2015 (lnd-AS)
lnd-AS with effect
provided for in

tof

Investment in the equity shares of companies which were acquired for strategic reasons are
comprehensive income. Investment in associate is measured at cost and other investments are
orofit or loss.

has been made to

with its
of lnd AS 20

Six month
period

30 09.20'15
4,187.80
(268 52)

94.14
229.66

Bth December,

i-

i!-l':ii9*

:+i

.+v.

f*x

ti,':2{:

2.i:

274,i;:ilt
;f

74*ii*;

Chhabria
hairman
7

,il:iii.) Y
frlrel

'i

2tlii i:iarl:ii
titr lii::ilii

M/s P. G. BHAGWAT

HEAD OFFICE

CHARTERED ACCOUNTANTS

Suites 101

Dr. Pai Marg,

Pune - 411045
Tel.: 020 -

1772,27291773

Email:
Web: www.

To
The Board of Directors
Finolex Industries Limited
Gat399, Urse, Maval,
Pune

India

410506, Maharashtra

Limited Review Report

We have reviewed the accompanying statement of unaudited financial results of
30m September, 2016. This statement is the
company's Management and has been approved by the Board of Directors. our
issue a report on these financial statements based on our review.

dustries

Limited for the period ended

of the
ility is to

we conducted our review in accordance with the Standard on Review

t(s ) 2410,
Review of Interim Financial Information Performed by the Independent Auditor f the E ly issued
by the Institute of Chartered Accountants of India. This standard requires that
plan
perform
the review to obtain moderate assurance as to whether the financial statements
free
material
misstatement. A review is limited primarily to inquiries of company personnel and an
ytical
procedure applied to financial data and thus provides less assurance than an a it. We have not
performed an audit and accordingly, we do not express an audit opinion.
Based on our review conducted as above, the accounting treatment given by the

ompany which

it

has been giving consistently with respect to Industrial promotion Subsidy r

Government of Maharashtra; crediting this grant to capital reserye instead of
profit
account is prima facie not as per Ind AS 20 'Accounting for Government Grants and Di
Government Assistance'. The amount of effect on profit for the period is giver inN
financial results ending 30d' September,2016. As informed to us, a representation to the
corporate Affairs for clarification/carve out in Ind AS 20 has been made.

losure of
3 to the

Apart from the above nothing has come to our attention that causes us
accompanying statement of unaudited financial results prepared in accord

that

accounting standards and other recognized accounting practices and policies

infbrmation required to be disclosed in terms of Regulation 33 of the SEBI (Listi
Disclosure Requirements) Regulations, 2015 including the manner in which it is
that it contains any material misstatement.
For i\{/s P.G.Bhagwat
Chartered Accountants

l0l 1 18w

Partner
Membership Number: 136835
Pune
8'n

December,2076

believe

the
and loss

nistry of

the

with
not di

licable
osed the

obli

ions and
losed or

be di

,ed Office / Urse Plant

Registered

Tel

ndustries Limited
Finolex Indt
39( Village Urse, Tal.-Maval,
Gat No 399,
z
re 410
506, Maharashtra, India
Dist Pune

Toll

0
crN L40i1 08PNl

981

Free

Fax
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Web

PLC024153

+91 2114 237251 | 237253

1800 200 3466
+91 2114 237252
investors@finolexind com
finolexwater com

FINOLEX INDUSTRIES LIMITED

CIN: 140108PN1981 PLC0241 53
REGISTERED OFFICE: GAT NO 39s, URSE, TALUKA MAVAL, DIST PUNE - 410 506
Tel No 021 14-237251 FaxNo.O2114-237252 E-mail: investors@finolexind com Website :www finolexwater com

Statement of Standalone unaudited Financial Results for the half year ended
Standalone

Particulars

Sr.

No

Half year

Correspo ding

ending

half year nded

ln the pre 'ious
r

(30/09/2016)

yeal

(30t09t2 15)
130,031.30

126, \84 74

Net Proflt / (Loss) for the period (before Tax, Exceptional andior
Extraordinary items)
Net Profit / (Loss) for the period before tax (after Exceptional
and/or Extraordinary items)

22,293 50

IJ )19 36

22,293.50

16 167.1s

Net Profit / (Loss) for the period after tax (after Exceptional
and/or Extraordinary items)

14,936.'10

11

Total Comprehensive Income for the period [Comprising Profit /

(Loss) for the period (after tax) and Other Comprehensive
Income (after tax)l

50,733 96

Equity share capltal

12.409.54

12 109 51

10,000.0c
nnE

10 )00.00

Total income from operations (net)

( 65.1

0)

Reserves (excluding Revaluation Reserve as shown ln the

Balance Sheet of previous year)

Net worth

Paid up Debt Capital/ Outstanding Debt

10 Debt Equity Ratio

11

)_27.17

Earnings per share ( for continuing and discontinued operations

) (of Rs.10/- each):

Basic:

Diluted:

0.10

12.04

on(

183

3.28

12 Debenture Redemption Reserve

IJ

Debt Service Coverage Ratio

27.96

14 Interest Service Coverage Ratio

S'aa 3i

e r;tri;<>***q

f iii*ie x

tidl,; sYi,

c*

--l i lil]. iJ.;.) i:

r.,:

rnrl'dri

liil
i;;>.

,!l ;:r ;-1,:t{:*Zai

r '1. 2,i ?;;l33fNi

:,11;i

Registered Office / Urse Plant

Tel

Finolex lndustries Limited

Gat No. 399, Village Urse, Tal.-Maval,
Dist Pune 410 5C6, Maharashtra, India

Toll

crN

L401 oBPN1 981 PLC0241 53

Notes1

Free

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TR'ES

approved by the Board at their

The above results have been reviewed by audit committee and
December, 2016.
not been subject to limited rev
The quarter and six month period ended 30 September 2015 has
the financial results provide
that
ensure
to
diligence
management has exercised necessary due

on 8th
udit.
true and

the
view of its

affairs
881.4'1 lakhs

previous years' the Industrial Promotion

As per the consistent accounting policy followed in the

30,2015)

receivab|efortheperiodended-onSeptember30,2016(Rs7424.15|akhsfortheperiodended
although, the Accounting s
has been credited to capital reserye In the opinion of the company,

12 under Indian
idies A

Ind AS 20 regarding treatment o capital

GAAP permitted such accounting. there is no clear mandate in
raited.
on thls matter which is
representation has been made to the Government seeking clarlficatlon
isit this
will
policy.
company
The
accounting
circumstances, company has continued with its existing
20
AS
Ind
clearer picture of the effect and scope of

companies (lndian Accounl

These financial results have been prepared in accordance with the
with note 3 above The
read
2013
Act
Companies
of
tne
i
Si
(lnd-AS) prescribed under section
have been restated accordi
lnd-AS with effect from April 1,2016 and the comparative numbers
1,2015
April
has been provided for in the retained earning as on
electricity duty exemption
Exceptional item for period ending 30th September 2015 represents
scheme of Incentil
Package
under
received
letter
sanction
and
in terms of eligibility certificate
Maharashtra
2016' pursuant to
The limited review of the financial results for the quarter ended September
has
been carried o
2015
Regulation,
Requirements)
SEBI (Listing obligations and Disclosure
Accounting
As required by paragraph 32 of Ind-AS 101 First-time Adoption of Indian

the
on getting a

Rules.20'15

tne

from

as transited to
of transition

earlier periods
ment of
(3) (c) (i) of the
auditors.

of net profit is

as follows:

30 09 2015
Net profit as per Indian GMP
Net (loss)/gain on fair valuation of financial instruments
lmoact of remesasurement of defined benefit plan
lmpact of measurement of financial liability at amortised cost
Net (loss)/gain on FVOCI equity Securitles

strategic reasons are

Investment in the equity shares of companies which were acquired for
and other investr
cost
at
measured
is
in
associate
Investment
income
other comprehensive
value through Profit or loss
Previous periods' figures have been

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wherever necessary to conform to the current

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fair value through

measured at fair

ssificatlon.