Finolex Industries Ltd

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Finolex Industries Ltd

₹ 173 -0.01%
05 Jun - 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 ₹ 10,730 Cr.
  • Current Price ₹ 173
  • High / Low ₹ 238 / 147
  • Stock P/E 18.5
  • Book Value ₹ 98.0
  • Dividend Yield 1.16 %
  • ROCE 12.3 %
  • ROE 9.63 %
  • Face Value ₹ 2.00
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 30.6%

Cons

  • The company has delivered a poor sales growth of 3.51% over past five years.
  • Company has a low return on equity of 8.13% over last 3 years.
  • Working capital days have increased from 93.7 days to 247 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

Industrials Capital Goods Industrial Products Plastic Products - Industrial

Part of BSE 500 BSE Industrials BSE 250 SmallCap Index BSE 400 MidSmallCap Index Nifty Microcap 250

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
1,141 1,179 883 1,020 1,235 1,140 828 1,001 1,172 1,043 859 898 1,314
924 1,027 780 900 1,026 934 818 918 1,001 950 729 775 982
Operating Profit 217 152 103 120 209 207 11 83 171 94 130 123 332
OPM % 19% 13% 12% 12% 17% 18% 1% 8% 15% 9% 15% 14% 25%
29 40 63 35 44 472 84 48 65 65 60 52 36
Interest 6 9 12 8 7 7 7 10 6 6 4 3 8
Depreciation 24 34 27 28 27 26 26 27 27 27 27 26 26
Profit before tax 216 149 126 120 219 646 62 95 203 126 158 146 334
Tax % 27% 26% 25% 26% 26% 22% 16% 25% 26% 23% 25% 25% 24%
158 111 94 89 161 505 51 71 150 97 119 110 254
EPS in Rs 2.55 1.79 1.51 1.44 2.60 8.14 0.83 1.14 2.42 1.56 1.92 1.77 4.10
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2,476 2,482 2,602 2,738 3,091 2,985 3,462 4,647 4,397 4,317 4,142 4,113
2,264 2,075 2,039 2,253 2,487 2,536 2,472 3,623 4,105 3,732 3,666 3,435
Operating Profit 212 407 563 484 604 448 990 1,025 293 585 476 679
OPM % 9% 16% 22% 18% 20% 15% 29% 22% 7% 14% 12% 16%
-2 62 24 25 14 30 72 458 121 181 665 213
Interest 70 45 15 10 12 11 7 14 27 36 30 21
Depreciation 59 51 55 61 70 74 78 83 89 116 107 107
Profit before tax 81 373 517 439 536 393 977 1,385 297 613 1,005 765
Tax % 41% 32% 32% 32% 35% 18% 25% 24% 20% 26% 23% 24%
48 254 352 299 350 324 728 1,053 237 455 778 580
EPS in Rs 0.77 4.10 5.68 4.81 5.64 5.22 11.73 16.98 3.81 7.34 12.54 9.35
Dividend Payout % 52% 49% 41% 42% 35% 38% 34% 24% 39% 34% 29% 29%
Compounded Sales Growth
10 Years: 5%
5 Years: 4%
3 Years: -2%
TTM: -1%
Compounded Profit Growth
10 Years: 10%
5 Years: -4%
3 Years: 40%
TTM: 49%
Stock Price CAGR
10 Years: 8%
5 Years: 0%
3 Years: 1%
1 Year: -21%
Return on Equity
10 Years: 12%
5 Years: 9%
3 Years: 8%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 124 124 124 124 124 124 124 124 124 124 124 124
Reserves 663 1,446 2,167 2,640 2,404 1,806 2,949 3,740 4,701 5,414 5,855 5,954
637 212 94 101 90 283 204 278 541 394 237 446
435 567 570 589 655 603 930 1,119 817 996 1,008 885
Total Liabilities 1,859 2,349 2,955 3,455 3,273 2,815 4,207 5,261 6,182 6,928 7,223 7,408
868 850 855 884 951 1,017 1,002 993 1,055 1,055 1,008 1,017
CWIP 10 7 22 90 90 7 8 9 44 19 73 28
Investments 180 817 1,222 1,555 1,303 580 1,592 2,633 3,850 4,456 4,751 4,782
801 675 856 925 929 1,211 1,604 1,625 1,234 1,398 1,391 1,581
Total Assets 1,859 2,349 2,955 3,455 3,273 2,815 4,207 5,261 6,182 6,928 7,223 7,408

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
212 569 252 338 391 106 941 622 308 353 383
18 -77 35 -162 -228 49 -877 -440 -294 -83 8
-239 -494 -282 -175 -163 -105 -90 -190 -29 -277 -349
Net Cash Flow -9 -2 4 1 -0 51 -26 -8 -15 -6 42
Free Cash Flow 182 538 157 166 289 46 876 918 140 267 268
CFO/OP 119% 156% 76% 95% 94% 49% 116% 93% 128% 85% 122%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 7 3 7 6 9 9 16 26 25 39 33 32
Inventory Days 113 100 128 128 120 164 176 132 81 99 108 156
Days Payable 40 55 52 52 55 44 84 60 35 39 61 56
Cash Conversion Cycle 80 48 83 81 74 129 108 98 71 98 80 133
Working Capital Days -6 0 28 32 33 39 22 17 -6 13 20 247
ROCE % 11% 24% 25% 17% 21% 16% 36% 27% 6% 10% 9% 12%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Installed Capacity - PVC Pipes & Fittings
Metric Tons Per Annum (MTPA)

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PVC Pipes & Fittings Sales Volume
Metric Tons (MT)
PVC Resin Sales Volume (inc. inter-segment)
Metric Tons (MT)
Retail Touchpoints / Partnerships
Count
Non-Agri Revenue Share
Percentage (%)

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
52.47% 52.47% 52.47% 52.47% 52.47% 52.47% 52.47% 52.47% 52.47% 52.47% 52.47% 52.47%
5.81% 6.66% 6.45% 6.41% 6.90% 6.40% 6.64% 6.48% 6.03% 5.93% 5.87% 5.86%
11.87% 12.14% 11.95% 10.95% 11.95% 12.07% 12.05% 11.70% 11.36% 12.11% 12.19% 12.78%
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
29.48% 28.37% 28.76% 29.82% 28.32% 28.69% 28.47% 28.99% 29.78% 29.13% 29.11% 28.53%
0.34% 0.34% 0.34% 0.34% 0.35% 0.35% 0.35% 0.35% 0.35% 0.35% 0.35% 0.35%
No. of Shareholders 2,31,9132,18,0942,26,8442,13,6792,11,5072,26,7582,38,7852,51,0872,50,0512,45,5052,46,1532,37,719

* 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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