Finolex Industries Ltd

Finolex Inds. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Finolex Industries Ltd

₹ 301 11.12%
14 May - close price
finolexpipes.com BSE: 500940 NSE: FINPIPE
About

Finolex Industries Limited (FIL) is a leading manufacturer of PVC Resin and the largest producer of PVC Pipes & Fittings in India. The Company offers the latest range of superior quality and durable PVC-U pipes and fittings used in agriculture, construction and industrial operations. Its product portfolio consists of two major divisions:
PVC Resin
PVC Pipes & Fittings [1]

Key Points

Intro[1]
FIL is amongst the largest players in domestic PVC resin and pipe segments, with the second largest capacity in the domestic PVC pipes industry. FIL is the only large vertically integrated player in the domestic market with in-house production of PVC resin, the major raw material used in pipe manufacturing. Intergroup transfer of raw material accounted for 90% of revenue from the PVC resin segment in FY23, vs 11% in FY08.

Website BSE NSE
  • Market Cap ₹ 18,678 Cr.
  • Current Price ₹ 301
  • High / Low ₹ 304 / 163
  • Stock P/E 39.4
  • Book Value ₹ 90.8
  • Dividend Yield 0.50 %
  • ROCE 12.0 %
  • ROE 8.99 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 31.1%

Cons

  • The company has delivered a poor sales growth of 6.91% over past five years.
  • Company has a low return on equity of 11.0% over last 3 years.
  • Earnings include an other income of Rs.218 Cr.
  • Debtor days have increased from 29.9 to 38.7 days.
  • Working capital days have increased from 94.5 days to 207 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Plastic products Industry: Plastics Products

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
1,249 966 1,083 1,005 1,595 1,190 941 1,125 1,141 1,179 883 1,020 1,235
839 758 784 764 1,330 1,065 1,084 1,033 924 1,027 780 900 1,026
Operating Profit 410 208 298 241 265 125 -143 92 217 152 103 120 209
OPM % 33% 22% 28% 24% 17% 10% -15% 8% 19% 13% 12% 12% 17%
17 15 31 19 403 25 39 41 43 48 70 47 54
Interest 2 5 0 1 8 11 4 5 6 9 12 8 7
Depreciation 20 20 21 21 22 21 22 22 24 34 27 28 27
Profit before tax 405 198 308 239 638 117 -130 105 230 157 133 132 229
Tax % 26% 27% 24% 26% 22% 15% 27% 24% 28% 26% 27% 27% 28%
299 146 233 177 495 99 -95 80 166 115 98 95 165
EPS in Rs 4.82 2.35 3.76 2.86 7.98 1.60 -1.54 1.28 2.68 1.86 1.58 1.54 2.66
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
2,482 2,602 2,738 3,091 2,985 3,462 4,647 4,397 4,317
2,075 2,039 2,253 2,487 2,536 2,472 3,624 4,105 3,733
Operating Profit 407 563 484 604 448 990 1,023 293 585
OPM % 16% 22% 18% 20% 15% 29% 22% 7% 14%
71 32 40 26 55 87 457 145 218
Interest 45 15 10 12 11 7 14 27 36
Depreciation 51 55 61 70 74 78 83 89 116
Profit before tax 383 525 454 548 418 992 1,383 321 651
Tax % 33% 32% 33% 33% 20% 26% 24% 22% 27%
258 355 306 367 333 738 1,051 251 474
EPS in Rs 4.15 5.72 4.94 5.92 5.36 11.89 16.94 4.04 7.63
Dividend Payout % 48% 40% 41% 34% 37% 34% 24% 37% 33%
Compounded Sales Growth
10 Years: %
5 Years: 7%
3 Years: 8%
TTM: -2%
Compounded Profit Growth
10 Years: %
5 Years: 4%
3 Years: -14%
TTM: 109%
Stock Price CAGR
10 Years: 21%
5 Years: 28%
3 Years: 26%
1 Year: 66%
Return on Equity
10 Years: %
5 Years: 14%
3 Years: 11%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 124 124 124 124 124 124 124 124 124
Reserves 1,466 2,191 2,671 2,452 1,862 3,015 3,804 4,779 5,511
212 94 101 90 283 204 278 541 394
583 588 610 666 623 951 1,140 841 1,030
Total Liabilities 2,385 2,997 3,506 3,332 2,891 4,294 5,345 6,285 7,058
850 855 884 951 1,017 1,002 993 1,055 1,055
CWIP 7 22 90 90 7 8 9 44 19
Investments 854 1,264 1,607 1,362 656 1,679 2,718 3,947 4,586
675 856 925 929 1,211 1,604 1,625 1,239 1,398
Total Assets 2,385 2,997 3,506 3,332 2,891 4,294 5,345 6,285 7,058

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
569 252 338 391 106 941 622 302 353
-77 35 -162 -228 49 -877 -440 -288 -83
-494 -282 -175 -163 -105 -90 -190 -29 -277
Net Cash Flow -2 4 1 -0 51 -26 -8 -15 -6

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 3 7 6 9 9 16 26 25 39
Inventory Days 100 128 128 120 164 176 132 81 97
Days Payable 55 52 52 55 44 84 60 35 38
Cash Conversion Cycle 48 83 81 74 129 108 98 71 97
Working Capital Days 17 41 45 44 73 44 39 38 207
ROCE % 25% 17% 21% 17% 36% 27% 7%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
52.47% 52.47% 52.47% 52.47% 52.47% 52.47% 52.47% 52.47% 52.47% 52.47% 52.47% 52.47%
2.87% 4.31% 5.74% 5.81% 5.69% 5.59% 5.40% 5.51% 5.81% 6.66% 6.45% 6.41%
11.56% 10.67% 9.84% 9.49% 9.82% 9.80% 11.61% 12.25% 11.87% 12.14% 11.95% 10.95%
0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
32.76% 32.20% 31.61% 31.88% 31.68% 31.76% 30.15% 29.39% 29.48% 28.37% 28.76% 29.82%
0.34% 0.34% 0.34% 0.34% 0.34% 0.34% 0.34% 0.34% 0.34% 0.34% 0.34% 0.34%
No. of Shareholders 1,69,6481,90,4172,25,0442,72,2822,75,0602,84,3472,48,0952,38,4042,31,9132,18,0942,26,8442,13,679

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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