Flair Writing Industries Ltd
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]
- Market Cap ₹ 3,310 Cr.
- Current Price ₹ 314
- High / Low ₹ 357 / 194
- Stock P/E 27.2
- Book Value ₹ 96.6
- Dividend Yield 0.32 %
- ROCE 16.1 %
- ROE 12.5 %
- Face Value ₹ 5.00
Pros
- Company is almost debt free.
Cons
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 419 | 573 | 298 | 577 | 942 | 979 | 1,080 | 1,121 | |
| 333 | 478 | 275 | 480 | 758 | 787 | 895 | 929 | |
| Operating Profit | 86 | 95 | 23 | 98 | 184 | 192 | 185 | 192 |
| OPM % | 20% | 17% | 8% | 17% | 20% | 20% | 17% | 17% |
| 4 | 6 | 13 | 10 | 12 | 15 | 24 | 23 | |
| Interest | 9 | 17 | 12 | 10 | 10 | 11 | 5 | 5 |
| Depreciation | 12 | 15 | 22 | 24 | 27 | 37 | 45 | 47 |
| Profit before tax | 69 | 69 | 2 | 73 | 158 | 159 | 159 | 163 |
| Tax % | 27% | 29% | 55% | 25% | 26% | 25% | 25% | |
| 50 | 49 | 1 | 55 | 117 | 118 | 119 | 122 | |
| EPS in Rs | 2,512.00 | 2,255.49 | 0.42 | 23.62 | 12.54 | 11.29 | 11.35 | 11.55 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 9% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 23% |
| TTM: | 15% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 30% |
| TTM: | 7% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 12% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 18% |
| Last Year: | 12% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 23 | 23 | 47 | 53 | 53 |
| Reserves | 171 | 259 | 238 | 294 | 388 | 846 | 966 |
| 94 | 89 | 130 | 131 | 123 | 69 | 62 | |
| 86 | 89 | 89 | 110 | 126 | 140 | 138 | |
| Total Liabilities | 354 | 440 | 481 | 557 | 684 | 1,108 | 1,218 |
| 119 | 144 | 186 | 196 | 250 | 327 | 427 | |
| CWIP | 2 | 8 | 0 | 2 | 2 | 20 | 23 |
| Investments | 0 | 0 | 16 | 0 | 0 | 0 | 31 |
| 233 | 288 | 279 | 360 | 433 | 760 | 737 | |
| Total Assets | 354 | 440 | 481 | 557 | 684 | 1,108 | 1,218 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 64 | 35 | 67 | 35 | 98 | 76 | 54 | |
| -27 | -44 | -16 | -20 | -74 | -284 | -24 | |
| -31 | 4 | -55 | -16 | -24 | 259 | -25 | |
| Net Cash Flow | 5 | -5 | -3 | -0 | 0 | 51 | 5 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 75 | 76 | 142 | 93 | 66 | 80 | 88 |
| Inventory Days | 132 | 103 | 288 | 218 | 153 | 170 | 197 |
| Days Payable | 89 | 69 | 90 | 60 | 46 | 49 | 37 |
| Cash Conversion Cycle | 118 | 110 | 340 | 252 | 174 | 201 | 247 |
| Working Capital Days | 84 | 108 | 224 | 129 | 87 | 129 | 154 |
| ROCE % | 28% | 20% | 33% | 22% | 16% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
30 Oct - The Company has scheduled an earnings conference call on Friday, November 07, 2025 at 11.30 am to discuss the Unaudited Financial Results for the quarter …
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Board Meeting Intimation for Consideration Of The Financial Results (Standalone And Consolidated) Of The Company For The Quarter And Half Year Ended September 30, 2025.
30 Oct - Board meeting Nov 06, 2025 to approve Q2/H1 unaudited results; trading window closed until 48 hours post-announcement.
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General Update On ''The Right Move'' Campaign.
10 Oct - Launch of Move 2MM refillable, non-wood mechanical pencil; 'The Right Move' sustainability campaign; Oct 10, 2025.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
7 Oct - RTA confirms all shares dematerialised; Regulation 74(5) not applicable; no rematerialisation requests for quarter ended Sep 30, 2025.
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Intimation Of Export Award.
1 Oct - Flair Writing Industries received Plastics Export Promotion Council export award for 2023-24 and 2024-25 (writing instruments).
Concalls
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT
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Jun 2024Transcript PPT
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Feb 2024Transcript PPT
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Dec 2023Transcript PPT
Market Leadership[1]
Flair is one of India’s largest writing instrument companies; Top 3 player in the industry and the largest pen exporter from India, with presence in 115 countries.