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 21.8
  • Book Value ₹ 108
  • Dividend Yield 0.35 %
  • ROCE 16.8 %
  • ROE 12.9 %
  • Face Value ₹ 5.00
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Pros

  • Company is almost debt free.

Cons

  • Company has a low return on equity of 14.0% over last 3 years.
  • Dividend payout has been low at 4.19% 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

Consolidated Figures in Rs. Crores / View Standalone

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
260 247 257 225 250 247 270 265 298 289 321 318 323
207 194 203 190 200 205 220 219 251 239 261 261 265
Operating Profit 53 52 54 35 51 42 51 45 47 50 60 57 58
OPM % 21% 21% 21% 15% 20% 17% 19% 17% 16% 17% 19% 18% 18%
1 2 3 4 6 5 5 7 8 3 9 3 6
Interest 3 3 3 3 1 1 1 1 1 1 1 1 1
Depreciation 7 8 9 9 10 10 11 12 12 13 13 13 14
Profit before tax 45 43 44 26 45 35 44 39 41 39 54 45 49
Tax % 26% 25% 25% 27% 25% 26% 25% 25% 26% 25% 21% 27% 25%
33 32 33 19 34 26 33 29 31 29 43 33 37
EPS in Rs 3.55 3.44 3.57 1.82 3.26 2.51 3.12 2.78 2.93 2.72 4.04 3.11 3.40
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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 Mar 2026
419 573 298 577 942 979 1,080 1,250
333 478 275 480 758 787 895 1,026
Operating Profit 86 95 23 98 184 192 185 225
OPM % 20% 17% 8% 17% 20% 20% 17% 18%
4 6 13 10 12 15 24 21
Interest 9 17 12 9 9 11 5 5
Depreciation 12 15 22 24 27 37 45 53
Profit before tax 69 69 2 74 159 159 159 187
Tax % 27% 29% 55% 24% 26% 25% 25% 24%
50 49 1 56 118 118 119 141
EPS in Rs 2,512.00 2,255.49 0.42 24.08 12.66 11.29 11.35 13.26
Dividend Payout % 0% 0% 0% 0% 0% 0% 9% 4%
Compounded Sales Growth
10 Years: %
5 Years: 33%
3 Years: 10%
TTM: 16%
Compounded Profit Growth
10 Years: %
5 Years: 170%
3 Years: 6%
TTM: 17%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 1%
Return on Equity
10 Years: %
5 Years: 16%
3 Years: 14%
Last Year: 13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 3 3 23 23 47 53 53 53
Reserves 171 259 238 295 388 846 966 1,089
94 89 130 126 123 69 62 66
86 89 89 113 126 140 138 159
Total Liabilities 354 440 481 558 684 1,108 1,218 1,367
119 144 186 196 250 327 427 482
CWIP 2 8 0 2 2 20 23 60
Investments 0 0 16 0 0 0 31 120
233 288 279 360 433 760 737 705
Total Assets 354 440 481 558 684 1,108 1,218 1,367

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
64 35 67 34 96 78 54 137
-27 -44 -16 -19 -74 -285 -24 -161
-31 4 -55 -16 -22 259 -25 -22
Net Cash Flow 5 -5 -3 -0 0 51 5 -45
Free Cash Flow 36 -10 62 -2 22 -32 -79 -1
CFO/OP 94% 65% 291% 46% 76% 65% 50% 81%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 75 76 142 93 66 80 88 80
Inventory Days 132 103 288 218 153 170 197 211
Days Payable 89 69 90 60 46 49 37 40
Cash Conversion Cycle 118 110 340 252 174 201 247 251
Working Capital Days 84 108 224 129 88 127 154 185
ROCE % 28% 20% 33% 22% 16% 17%

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.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

DRHP

Concalls