Flair Writing Industries Ltd

Flair Writing Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Flair Writing Industries Ltd

₹ 289 -5.89%
29 May - close price
flairworld.in BSE: 544030 NSE: FLAIR
About

Incorporated in 1976, Flair Writing Industries (Flair) is engaged in developing and manufacturing writing instruments and is among the Top 3 players in the overall writing instruments industry [1]

Key Points

Market Leadership[1]
Flair is one of India’s largest writing instrument companies and is amongst the top 3 player in the industry and the largest pen exporter from India, with presence in 115 countries.

Website BSE NSE
  • Market Cap ₹ 3,043 Cr.
  • Current Price ₹ 289
  • High / Low ₹ 357 / 243
  • Stock P/E 25.8
  • Book Value ₹ 105
  • Dividend Yield 0.35 %
  • ROCE 14.8 %
  • ROE 11.2 %
  • Face Value ₹ 5.00
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Pros

  • Company is almost debt free.

Cons

  • Company has a low return on equity of 13.1% over last 3 years.
  • Dividend payout has been low at 4.62% of profits over last 3 years

* 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

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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
244 230 244 215 229 222 242 229 257 242 263 256 251
197 183 194 182 185 187 199 194 218 204 220 220 213
Operating Profit 47 48 51 33 44 35 43 35 39 38 43 36 38
OPM % 19% 21% 21% 15% 19% 16% 18% 15% 15% 16% 16% 14% 15%
2 3 4 6 8 8 9 10 8 8 14 9 11
Interest 3 2 2 2 1 1 1 1 1 1 1 1 1
Depreciation 6 7 7 8 8 8 8 9 9 9 9 9 9
Profit before tax 40 42 45 29 43 35 43 36 37 36 47 36 39
Tax % 26% 25% 25% 26% 25% 26% 25% 25% 27% 26% 22% 29% 26%
30 31 33 21 32 26 32 27 28 27 36 25 29
EPS in Rs 3.18 3.32 3.57 2.03 3.08 2.44 3.03 2.56 2.61 2.57 3.46 2.40 2.75
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
503 613 581 289 554 903 919 949 1,013
410 495 488 267 461 732 743 797 858
Operating Profit 93 117 93 23 93 171 176 153 155
OPM % 18% 19% 16% 8% 17% 19% 19% 16% 15%
7 5 5 12 11 14 20 35 41
Interest 17 18 15 11 9 9 8 4 3
Depreciation 15 18 23 22 23 24 29 33 35
Profit before tax 67 86 60 2 72 151 158 151 158
Tax % 21% 24% 36% 72% 25% 26% 25% 26% 25%
53 65 38 0 54 112 118 112 118
EPS in Rs 2,444.60 27.84 16.33 0.21 23.08 11.95 11.21 10.64 11.19
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 9% 4%
Compounded Sales Growth
10 Years: %
5 Years: 28%
3 Years: 4%
TTM: 7%
Compounded Profit Growth
10 Years: %
5 Years: 198%
3 Years: 2%
TTM: 5%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 1%
Return on Equity
10 Years: %
5 Years: 16%
3 Years: 13%
Last Year: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 0.22 23 23 23 23 47 53 53 53
Reserves 158 199 236 236 290 379 836 949 1,050
169 196 168 122 118 99 56 39 33
84 111 113 85 107 109 128 116 130
Total Liabilities 412 529 539 467 539 634 1,073 1,156 1,266
144 182 195 178 181 200 251 294 304
CWIP 8 3 0 0 0 2 20 12 34
Investments 0 0 0 16 0 4 4 35 123
260 343 344 273 358 429 799 815 804
Total Assets 412 529 539 467 539 634 1,073 1,156 1,266

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
45 36 70 23 79 106 58 136
-51 -52 -16 -8 -46 -328 -29 -153
0 17 -57 -15 -32 274 -28 -26
Net Cash Flow -6 1 -3 -0 0 51 2 -43
Free Cash Flow -6 -16 68 -3 34 30 -3 72
CFO/OP 75% 45% 312% 36% 71% 86% 62% 113%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 84 96 103 139 93 65 77 83 74
Inventory Days 123 147 180 287 220 138 147 165 169
Days Payable 76 71 71 85 58 39 45 34 40
Cash Conversion Cycle 130 172 211 341 255 164 178 214 203
Working Capital Days 110 134 151 232 142 85 117 138 171
ROCE % 28% 18% 3% 20% 34% 23% 16% 15%

Insights

In beta
Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Annual Installed Capacity (Pens & Stationery)
Million Pieces

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Number of Distributors
Numbers
Number of Pens Sold
Million Units
Retail Touchpoints (Wholesalers & Retailers)
Numbers
Total SKUs (Products)
Numbers
Capacity Utilization (Pens)
%
Writing & Creative Instruments Market Share (India)
%
Average Realization per Pen
INR

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
78.59% 78.59% 78.59% 78.59% 78.59% 78.59% 78.59% 78.59% 78.59% 78.59%
1.38% 0.25% 0.14% 0.02% 0.09% 0.06% 0.05% 0.44% 0.30% 0.30%
9.57% 10.85% 11.34% 11.37% 10.51% 9.55% 10.23% 10.58% 10.12% 10.34%
10.46% 10.30% 9.92% 10.02% 10.82% 11.80% 11.14% 10.39% 10.99% 10.78%
No. of Shareholders 84,16081,50074,07467,55665,52666,66163,57156,56055,54551,355

* 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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Documents

Announcements

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DRHP

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