Finolex Industries reported a challenging Q1 FY27, with revenue down 15% to ₹884 Cr and volumes declining 27% due to polymer price volatility and channel destocking.

Despite this, EBITDA climbed 14% to ₹107 Cr, boosting margins from 9% to 12%. This margin resilience was partly due to its backward integration.

PAT came in at ₹107 Cr.

Management noted a volume pickup in July following Minimum Import Price (MIP) introduction and customs duty changes.

The company holds a strong cash position of ₹2,636 Cr, with capacity expansion ongoing.

Outlook is cautiously optimistic for normalized inventories and stable prices.