Finolex Industries Ltd

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

Finolex Industries Ltd

₹ 252 -0.73%
19 Apr - 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 ₹ 15,661 Cr.
  • Current Price ₹ 252
  • High / Low ₹ 265 / 162
  • Stock P/E 33.0
  • Book Value ₹ 90.4
  • Dividend Yield 0.60 %
  • ROCE 6.53 %
  • ROE 5.13 %
  • Face Value ₹ 2.00
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Pros

  • Company has been maintaining a healthy dividend payout of 31.4%

Cons

  • The company has delivered a poor sales growth of 9.94% over past five years.
  • Earnings include an other income of Rs.208 Cr.

* 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

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,066 1,249 966 1,083 1,005 1,595 1,190 941 1,125 1,141 1,179 883 1,020
720 839 758 784 764 1,330 1,065 1,084 1,033 924 1,027 780 900
Operating Profit 346 410 208 298 241 265 125 -143 92 217 152 103 120
OPM % 32% 33% 22% 28% 24% 17% 10% -15% 8% 19% 13% 12% 12%
24 17 15 31 19 403 25 39 41 43 48 70 47
Interest 1 2 5 0 1 8 11 4 5 6 9 12 8
Depreciation 20 20 20 21 21 22 21 22 22 24 34 27 28
Profit before tax 349 405 198 308 239 638 117 -130 105 230 157 133 132
Tax % 26% 26% 27% 24% 26% 22% 15% 27% 24% 28% 26% 27% 27%
259 299 146 233 177 495 99 -95 80 166 115 98 95
EPS in Rs 4.18 4.82 2.35 3.76 2.86 7.98 1.60 -1.54 1.28 2.68 1.86 1.58 1.54
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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 TTM
2,482 2,602 2,738 3,091 2,985 3,462 4,647 4,397 4,223
2,075 2,039 2,253 2,487 2,536 2,472 3,624 4,105 3,630
Operating Profit 407 563 484 604 448 990 1,023 293 593
OPM % 16% 22% 18% 20% 15% 29% 22% 7% 14%
71 32 40 26 55 87 457 145 208
Interest 45 15 10 12 11 7 14 27 36
Depreciation 51 55 61 70 74 78 83 89 113
Profit before tax 383 525 454 548 418 992 1,383 321 652
Tax % 33% 32% 33% 33% 20% 26% 24% 22%
258 355 306 367 333 738 1,051 251 475
EPS in Rs 4.15 5.72 4.94 5.92 5.36 11.89 16.94 4.04 7.66
Dividend Payout % 48% 40% 41% 34% 37% 34% 24% 37%
Compounded Sales Growth
10 Years: %
5 Years: 10%
3 Years: 14%
TTM: -13%
Compounded Profit Growth
10 Years: %
5 Years: -6%
3 Years: -12%
TTM: 66%
Stock Price CAGR
10 Years: 19%
5 Years: 21%
3 Years: 21%
1 Year: 53%
Return on Equity
10 Years: %
5 Years: 16%
3 Years: 16%
Last Year: 5%

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 Sep 2023
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 5,486
212 94 101 90 283 204 278 541 605
583 588 610 666 623 951 1,140 841 902
Total Liabilities 2,385 2,997 3,506 3,332 2,891 4,294 5,345 6,285 7,117
850 855 884 951 1,017 1,002 993 1,055 1,045
CWIP 7 22 90 90 7 8 9 44 60
Investments 854 1,264 1,607 1,362 656 1,679 2,718 3,947 4,697
675 856 925 929 1,211 1,604 1,625 1,239 1,315
Total Assets 2,385 2,997 3,506 3,332 2,891 4,294 5,345 6,285 7,117

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
569 252 338 391 106 941 622 302
-77 35 -162 -228 49 -877 -440 -288
-494 -282 -175 -163 -105 -90 -190 -29
Net Cash Flow -2 4 1 -0 51 -26 -8 -15

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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