Finolex Industries Projects Bright Business Outlook

Finolex Industries Ltd has announced the following Outlook:

PVC Resin:
The long term outlook for the industry continues to be bright. Global Demand for PVC Resin is growing at around 3.5% pa. while demand in lndia is expected to show double digit growth in the current year. The Company recently completed expansion of PVC Resin capacity.

PVC Pipes
The demand for PVC Pipes is expected to grow significantly in the coming years due to various Government initiatives at Central and State levels. The strong demand growth seen in the 2nd quarter is expected to continue in future.

Commenting on the Q2 performance, Mr. S S Dhonorkar, Assistant Managing Director of the Company, said "sustained demand pull coupled with better cost efficiencies have resulted in better bottomline as well as top line growth. The Company's wide distribution network across the country is enabling increasing the market share from all the regions". PVC Resin prices have witnessed an upward trend during the 2nd quarter of financial year 2006 resulting in better margins.

Source : Equity Bulls

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