Dear Shareholders,
For 43 years, we have been dedicated to producing superior-quality
pipes and fittings. This unwavering focus has guided every decision, action, and resource
allocation, ensuring our customers' continued trust in our products. Our reputation
for quality and reliability stems from this commitment to excellence.
Our evolution from ‘Finolex Pipes' to ‘Finolex Pipes and
Fittings' signifies more than a name change. It represents our commitment to
responding to and meeting our customers' needs. This transformation underscores our
promise to deliver to the plumbing and sanitation market in addition to our traditional
agri market, broadening our scope and ensuring that we cater to a wider array of customer
requirements.
The Finolex Group of companies was founded by the late Shri. Pralhad P.
Chhabria in 1958. His legacy of humility, focus on fundamentals emphasis on quality,
continuous learning, and striving for excellence has shaped our company. His vision and
leadership have been pivotal, supported by the collective efforts of a dedicated team,
making Finolex the market leader it is today. His principles continue to inspire and guide
us as we advance into new territories and innovate in our product offerings.
Reflecting on the past year, Finolex has solidified its position as a
trusted household name, synonymous with excellence and reliability. Our key achievements
include: Profit Growth: 89% increase in profit after tax (on a consolidated basis), a
testament to our efficient operations.
Sales Volume: 11% growth to 3.36 lakh MT of PVC pipes and fittings.
Earnings Per Share: 90% rise to _ 7.66. Dividend Payout: _ 2.50 per
share.
Production Capacity: Expanded to 4,70,000 MT for pipes & fittings.
Market Reach: Over 900 dealers and 30,000 retail touchpoints.
ESG Initiatives: We are committed to sustainable practices, as a
result, were able to achieve a 3.2% renewable energy share, harvest more than 300,000 KL
rainwater, and recycle 260,000 KL e_uent back to process, with various measures to avoid
more than 20,000 t CO2 emissions.
This year marks a decade of our collaboration with Mukul Madhav
Foundation in our CSR initiatives.
Key efforts include:
Spectrum of Water: Over 11,500 individuals have been positively
affected by our water conservation initiatives and scheme projects. Additionally, more
than 2,550 people have benefited from the installation of Reverse Osmosis (RO) water
coolers. Education: Transformed 85 schools in Rajasthan, Bihar, and Karnataka, impacting
20,000 students by enhancing learning environments and opportunities.
Public Health: Over 51,000 individuals have benefitted from enhanced
healthcare facilities, improved sanitation, eldercare services, nutritional support, and
mental health initiatives.
These initiatives, led by Mrs. Ritu Chhabria, exemplify the spirit of
‘Live to Give' and reflect our commitment to social responsibility. Our CSR
activities are a vital part of our identity, reinforcing our role as a responsible
corporate citizen dedicated to sustainable and inclusive growth. We have been relentless
in spreading hope amongst those who feel they do not have the right to be hopeful. Our
journey has been remarkable, driven by the collective efforts of all our stakeholders,
including our dedicated channel partners, vendors, suppliers, customers, agencies,
employees, local and national governing authorities, policymakers & associates whose
support has been instrumental in our success. Together, we will continue to build a
brighter, more sustainable future, ensuring Finolex remains synonymous with excellence and
reliability. As we move forward, we are committed to innovation, expanding our product
lines, and enhancing our service offerings to meet the evolving needs of our customers.
Our focus remains on quality, integrity, and customer satisfaction as we strive to
maintain our leadership position in the industry and make a positive impact on society.
Thank you for your continued support and trust in Finolex. We look forward to achieving
new milestones together.
Warm Regards,
| Prakash Pralhad Chhabria |
| Executive Chairman |