Finolex Industries Ltd

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

Finolex Industries Ltd

₹ 209 6.75%
23 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

Market Leadership
The company is the 3rd-largest player in the PVC resin market and the 2nd-largest manufacturer of PVC pipes in India. It is the largest and only backward-integrated pipes & fittings company in India. [1] [2]

Website BSE NSE
  • Market Cap ₹ 12,965 Cr.
  • Current Price ₹ 209
  • High / Low ₹ 356 / 144
  • Stock P/E 28.5
  • Book Value ₹ 96.4
  • Dividend Yield 1.20 %
  • ROCE 10.2 %
  • ROE 7.90 %
  • 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 33.9%

Cons

  • The company has delivered a poor sales growth of 6.77% over past five years.
  • Company has a low return on equity of 7.05% over last 3 years.
  • Earnings include an other income of Rs.665 Cr.
  • Working capital days have increased from 104 days to 229 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

Part of BSE 500 Nifty 500 BSE SmallCap BSE Allcap BSE Industrials

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
1,595 1,190 941 1,125 1,141 1,179 883 1,020 1,235 1,140 828 1,001 1,172
1,330 1,064 1,084 1,033 924 1,027 780 900 1,026 934 818 918 1,001
Operating Profit 265 126 -143 92 217 152 103 120 209 207 11 83 171
OPM % 17% 11% -15% 8% 19% 13% 12% 12% 17% 18% 1% 8% 15%
401 25 39 28 29 40 63 35 44 472 84 48 65
Interest 8 11 4 5 6 9 12 8 7 7 7 10 6
Depreciation 22 21 22 22 24 34 27 28 27 26 26 27 27
Profit before tax 636 118 -129 92 216 149 126 120 219 646 62 95 203
Tax % 22% 15% -27% 22% 27% 26% 25% 26% 26% 22% 16% 25% 26%
494 100 -94 72 158 111 94 89 161 505 51 71 150
EPS in Rs 7.96 1.61 -1.51 1.16 2.55 1.79 1.51 1.44 2.60 8.14 0.83 1.14 2.42
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
2,453 2,476 2,482 2,602 2,738 3,091 2,985 3,462 4,647 4,397 4,317 4,142
2,056 2,264 2,075 2,039 2,253 2,487 2,536 2,472 3,623 4,105 3,732 3,666
Operating Profit 397 212 407 563 484 604 448 990 1,025 293 585 476
OPM % 16% 9% 16% 22% 18% 20% 15% 29% 22% 7% 14% 11%
-27 -2 62 24 25 14 30 72 458 121 181 665
Interest 66 70 45 15 10 12 11 7 14 27 36 30
Depreciation 62 59 51 55 61 70 74 78 83 89 116 107
Profit before tax 242 81 373 517 439 536 393 977 1,385 297 613 1,005
Tax % 30% 41% 32% 32% 32% 35% 18% 25% 24% 20% 26% 23%
170 48 254 352 299 350 324 728 1,053 237 455 778
EPS in Rs 2.74 0.77 4.10 5.68 4.81 5.64 5.22 11.73 16.98 3.81 7.34 12.54
Dividend Payout % 51% 52% 49% 41% 42% 35% 38% 34% 24% 39% 34% 29%
Compounded Sales Growth
10 Years: 5%
5 Years: 7%
3 Years: -4%
TTM: -4%
Compounded Profit Growth
10 Years: 23%
5 Years: 7%
3 Years: -16%
TTM: 11%
Stock Price CAGR
10 Years: 14%
5 Years: 21%
3 Years: 14%
1 Year: -35%
Return on Equity
10 Years: 13%
5 Years: 12%
3 Years: 7%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 124 124 124 124 124 124 124 124 124 124 124 124
Reserves 666 663 1,446 2,167 2,640 2,404 1,806 2,949 3,740 4,701 5,414 5,855
713 637 212 94 101 90 283 204 278 541 394 237
433 435 567 570 589 655 603 930 1,119 817 996 1,008
Total Liabilities 1,936 1,859 2,349 2,955 3,455 3,273 2,815 4,207 5,261 6,182 6,928 7,223
905 868 850 855 884 951 1,017 1,002 993 1,055 1,055 1,008
CWIP 32 10 7 22 90 90 7 8 9 44 19 73
Investments 221 180 817 1,222 1,555 1,303 580 1,592 2,633 3,850 4,456 4,751
777 801 675 856 925 929 1,211 1,604 1,625 1,234 1,398 1,391
Total Assets 1,936 1,859 2,349 2,955 3,455 3,273 2,815 4,207 5,261 6,182 6,928 7,223

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
245 212 569 252 338 391 106 941 622 308 353
110 18 -77 35 -162 -228 49 -877 -440 -294 -83
-344 -239 -494 -282 -175 -163 -105 -90 -190 -29 -277
Net Cash Flow 12 -9 -2 4 1 -0 51 -26 -8 -15 -6

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 6 7 3 7 6 9 9 16 26 25 39 33
Inventory Days 112 113 100 128 128 120 164 176 132 81 99 107
Days Payable 25 40 55 52 52 55 44 84 60 35 39 61
Cash Conversion Cycle 93 80 48 83 81 74 129 108 98 71 98 80
Working Capital Days 49 54 17 41 45 44 73 44 39 37 46 229
ROCE % 23% 11% 24% 25% 17% 21% 16% 36% 27% 6% 10% 10%

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
52.47% 52.47% 52.47% 52.47% 52.47% 52.47% 52.47% 52.47% 52.47% 52.47% 52.47% 52.47%
5.69% 5.59% 5.40% 5.51% 5.81% 6.66% 6.45% 6.41% 6.90% 6.40% 6.64% 6.48%
9.82% 9.80% 11.61% 12.25% 11.87% 12.14% 11.95% 10.95% 11.95% 12.07% 12.05% 11.70%
0.00% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
31.68% 31.76% 30.15% 29.39% 29.48% 28.37% 28.76% 29.82% 28.32% 28.69% 28.47% 28.99%
0.34% 0.34% 0.34% 0.34% 0.34% 0.34% 0.34% 0.34% 0.35% 0.35% 0.35% 0.35%
No. of Shareholders 2,75,0602,84,3472,48,0952,38,4042,31,9132,18,0942,26,8442,13,6792,11,5072,26,7582,38,7852,51,087

* 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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