Flair Writing Industries Ltd

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

Flair Writing Industries Ltd

₹ 286 -2.44%
27 Mar - 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 ₹ 3,010 Cr.
  • Current Price ₹ 286
  • High / Low ₹ 357 / 213
  • Stock P/E 22.3
  • Book Value ₹ 102
  • Dividend Yield 0.35 %
  • ROCE 16.1 %
  • ROE 12.5 %
  • Face Value ₹ 5.00
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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.

Peer comparison

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
232 260 247 257 225 250 247 270 265 298 289 321 318
179 207 194 203 190 200 205 220 219 251 239 261 261
Operating Profit 53 53 52 54 35 51 42 51 45 47 50 60 57
OPM % 23% 21% 21% 21% 15% 20% 17% 19% 17% 16% 17% 19% 18%
2 1 2 3 4 6 5 5 7 8 3 9 3
Interest 3 3 3 3 3 1 1 1 1 1 1 1 1
Depreciation 7 7 8 9 9 10 10 11 12 12 13 13 13
Profit before tax 46 45 43 44 26 45 35 44 39 41 39 54 45
Tax % 28% 26% 25% 25% 27% 25% 26% 25% 25% 26% 25% 21% 27%
33 33 32 33 19 34 26 33 29 31 29 43 33
EPS in Rs 14.25 3.55 3.44 3.57 1.82 3.26 2.51 3.12 2.78 2.93 2.72 4.04 3.11
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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 1,225
333 478 275 480 758 787 895 1,012
Operating Profit 86 95 23 98 184 192 185 214
OPM % 20% 17% 8% 17% 20% 20% 17% 17%
4 6 13 10 12 15 24 23
Interest 9 17 12 9 9 11 5 5
Depreciation 12 15 22 24 27 37 45 52
Profit before tax 69 69 2 74 159 159 159 180
Tax % 27% 29% 55% 24% 26% 25% 25%
50 49 1 56 118 118 119 136
EPS in Rs 2,512.00 2,255.49 0.42 24.08 12.66 11.29 11.35 12.80
Dividend Payout % -0% -0% -0% -0% -0% -0% 9%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 23%
TTM: 19%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 29%
TTM: 10%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 27%
Return on Equity
10 Years: %
5 Years: 16%
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 Sep 2025
Equity Capital 3 3 23 23 47 53 53 53
Reserves 171 259 238 295 388 846 966 1,026
94 89 130 126 123 69 62 59
86 89 89 113 126 140 138 173
Total Liabilities 354 440 481 558 684 1,108 1,218 1,310
119 144 186 196 250 327 427 442
CWIP 2 8 -0 2 2 20 23 46
Investments -0 -0 16 -0 -0 -0 31 84
233 288 279 360 433 760 737 738
Total Assets 354 440 481 558 684 1,108 1,218 1,310

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 34 96 78 54
-27 -44 -16 -19 -74 -285 -24
-31 4 -55 -16 -22 259 -25
Net Cash Flow 5 -5 -3 -0 0 51 5
Free Cash Flow 36 -10 62 -2 22 -32 -79
CFO/OP 94% 65% 291% 46% 76% 65% 50%

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 88 127 154
ROCE % 28% 20% 33% 22% 16%

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

Shareholding Pattern

Numbers in percentages

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
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%
9.57% 10.85% 11.34% 11.37% 10.51% 9.55% 10.23% 10.58% 10.12%
10.46% 10.30% 9.92% 10.02% 10.82% 11.80% 11.14% 10.39% 10.99%
No. of Shareholders 84,16081,50074,07467,55665,52666,66163,57156,56055,545

* 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

Annual reports

DRHP

Concalls