Finolex Industries Ltd

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

Finolex Industries Ltd

₹ 263 -1.06%
16 Dec 11:34 a.m.
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 ₹ 16,291 Cr.
  • Current Price ₹ 263
  • High / Low ₹ 356 / 203
  • Stock P/E 33.9
  • Book Value ₹ 108
  • Dividend Yield 0.94 %
  • ROCE 10.4 %
  • ROE 7.91 %
  • 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 32.2%

Cons

  • The company has delivered a poor sales growth of 6.91% over past five years.
  • Company has a low return on equity of 10.6% over last 3 years.
  • Earnings include an other income of Rs.635 Cr.
  • Debtor days have increased from 29.9 to 38.7 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 Nifty MidSmallcap 400 BSE 250 SmallCap Index BSE SmallCap BSE Allcap Nifty500 Multicap India Manufacturing 50:30:20

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
1,083 1,005 1,595 1,190 941 1,125 1,141 1,179 883 1,020 1,235 1,140 828
783 763 1,330 1,064 1,084 1,033 924 1,027 780 900 1,026 934 818
Operating Profit 300 242 265 126 -143 92 217 152 103 120 209 207 11
OPM % 28% 24% 17% 11% -15% 8% 19% 13% 12% 12% 17% 18% 1%
32 19 401 25 39 28 29 40 63 35 44 472 84
Interest 0 1 8 11 4 5 6 9 12 8 7 7 7
Depreciation 21 21 22 21 22 22 24 34 27 28 27 26 26
Profit before tax 310 239 636 118 -129 92 216 149 126 120 219 646 62
Tax % 24% 26% 22% 15% -27% 22% 27% 26% 25% 26% 26% 22% 16%
235 178 494 100 -94 72 158 111 94 89 161 505 51
EPS in Rs 3.79 2.87 7.96 1.61 -1.51 1.16 2.55 1.79 1.51 1.44 2.60 8.14 0.83
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
2,145 2,453 2,476 2,482 2,602 2,738 3,091 2,985 3,462 4,647 4,397 4,317 4,224
1,785 2,056 2,264 2,075 2,039 2,253 2,487 2,536 2,472 3,623 4,105 3,732 3,678
Operating Profit 359 397 212 407 563 484 604 448 990 1,025 293 585 546
OPM % 17% 16% 9% 16% 22% 18% 20% 15% 29% 22% 7% 14% 13%
-63 -27 -2 62 24 25 14 30 72 458 121 181 635
Interest 51 66 70 45 15 10 12 11 7 14 27 36 28
Depreciation 54 62 59 51 55 61 70 74 78 83 89 116 107
Profit before tax 190 242 81 373 517 439 536 393 977 1,385 297 613 1,046
Tax % 28% 30% 41% 32% 32% 32% 35% 18% 25% 24% 20% 26%
136 170 48 254 352 299 350 324 728 1,053 237 455 807
EPS in Rs 2.19 2.74 0.77 4.10 5.68 4.81 5.64 5.22 11.73 16.98 3.81 7.34 13.01
Dividend Payout % 50% 51% 52% 49% 41% 42% 35% 38% 34% 24% 39% 34%
Compounded Sales Growth
10 Years: 6%
5 Years: 7%
3 Years: 8%
TTM: -2%
Compounded Profit Growth
10 Years: 8%
5 Years: 2%
3 Years: -17%
TTM: 11%
Stock Price CAGR
10 Years: 17%
5 Years: 19%
3 Years: 9%
1 Year: 25%
Return on Equity
10 Years: 14%
5 Years: 14%
3 Years: 11%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 124 124 124 124 124 124 124 124 124 124 124 124 124
Reserves 597 666 663 1,446 2,167 2,640 2,404 1,806 2,949 3,740 4,701 5,414 6,582
839 713 637 212 94 101 90 283 204 278 541 394 369
440 433 435 567 570 589 655 603 930 1,119 817 996 1,189
Total Liabilities 2,001 1,936 1,859 2,349 2,955 3,455 3,273 2,815 4,207 5,261 6,182 6,928 8,263
880 905 868 850 855 884 951 1,017 1,002 993 1,055 1,055 1,038
CWIP 51 32 10 7 22 90 90 7 8 9 44 19 26
Investments 360 221 180 817 1,222 1,555 1,303 580 1,592 2,633 3,850 4,456 5,881
711 777 801 675 856 925 929 1,211 1,604 1,625 1,234 1,398 1,318
Total Assets 2,001 1,936 1,859 2,349 2,955 3,455 3,273 2,815 4,207 5,261 6,182 6,928 8,263

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
274 245 212 569 252 338 391 106 941 622 308 353
62 110 18 -77 35 -162 -228 49 -877 -440 -294 -83
-356 -344 -239 -494 -282 -175 -163 -105 -90 -190 -29 -277
Net Cash Flow -20 12 -9 -2 4 1 -0 51 -26 -8 -15 -6

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 7 6 7 3 7 6 9 9 16 26 25 39
Inventory Days 124 112 113 100 128 128 120 164 176 132 81 99
Days Payable 47 25 40 55 52 52 55 44 84 60 35 39
Cash Conversion Cycle 84 93 80 48 83 81 74 129 108 98 71 98
Working Capital Days 38 49 54 17 41 45 44 73 44 39 37 46
ROCE % 19% 23% 11% 24% 25% 17% 21% 16% 36% 27% 6% 10%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 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%
5.74% 5.81% 5.69% 5.59% 5.40% 5.51% 5.81% 6.66% 6.45% 6.41% 6.90% 6.40%
9.84% 9.49% 9.82% 9.80% 11.61% 12.25% 11.87% 12.14% 11.95% 10.95% 11.95% 12.07%
0.00% 0.00% 0.00% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
31.61% 31.88% 31.68% 31.76% 30.15% 29.39% 29.48% 28.37% 28.76% 29.82% 28.32% 28.69%
0.34% 0.34% 0.34% 0.34% 0.34% 0.34% 0.34% 0.34% 0.34% 0.34% 0.35% 0.35%
No. of Shareholders 2,25,0442,72,2822,75,0602,84,3472,48,0952,38,4042,31,9132,18,0942,26,8442,13,6792,11,5072,26,758

* 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.

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