Finolex Industries Ltd logo

Finolex Industries Ltd

FINPIPE NSE

Key Fundamentals

MicrocapPlastic Products - IndustrialIndustrial Products
Market Cap
₹9,853 Cr
Volatility
Moderate
P/E Ratio
15.96
EBITDA
₹679 Cr
Return on Equity
13.12%
Debt to Equity
0.07
Book Value
₹100.17
EPS
₹8.64
52W High
₹222.5
52W Low
₹147.54

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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44 extracted metrics + investor summaries across FY12–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 29.6%

Weaknesses

4
  • The company has delivered a poor sales growth of 3.51% over past five years.
  • Company has a low return on equity of 8.35% over last 3 years.
  • Earnings include an other income of Rs.260 Cr.
  • Working capital days have increased from 93.7 days to 247 days

Growth Rate

Revenue Growth
-6.27% ↗
Net Income Growth
-23.31% ↗
Cash Flow Change
8.32% ↗
ROE
56.00% ↗
ROCE
45.15% ↗
EBITDA Margin (Avg.)
-5.53% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 43d ago
AI opinion · based on fundamentals
Risk medium

Finolex Industries Ltd trades at a market cap of Rs.10,873 Cr with a PE of 18.1x and near-zero debt. While TTM profit growth of 44% is notable, sales have declined 1% TTM and the stock has underperformed with a -17% one-year return, reflecting mixed operational signals.

Bull Case 7
  • Company is almost debt free, providing significant financial flexibility and resilience during downturns
  • TTM compounded profit growth of 44% indicates sharp earnings recovery in the recent period
  • Healthy dividend payout of 29.6% with a dividend yield of 2.06%, offering meaningful cash returns to shareholders
  • 10-year compounded profit growth of 10% demonstrates long-term earnings compounding ability
  • PE of 18.1x is reasonable for a debt-free industrials company with improving profitability trajectory
  • 10-year stock CAGR of 7% and 10-year sales CAGR of 5% show the company has delivered steady long-term growth
  • Price-to-book of 1.75x is relatively modest, suggesting limited valuation stretch on a balance sheet basis
Bear Case 7
  • Working capital days have surged from 93.7 days to 247 days, indicating severe deterioration in cash conversion efficiency
  • Other income of Rs.254 Cr forms a significant portion of earnings, raising questions about core operating profit quality
  • TTM sales growth of -1% and 3-year compounded sales decline of -2% signal weak demand or pricing headwinds
  • 3-year ROE of only 8% (and 8.35% per reported data) reflects subpar capital efficiency for an industrials business
  • Stock has returned -17% over 1 year and 0% over both 3 and 5 years, indicating prolonged value erosion for shareholders
  • 5-year compounded profit growth of -4% shows the recent profit surge may be a recovery from a weak base rather than sustainable momentum
  • 5-year sales CAGR of only 4% (reported as 3.51% poor growth) suggests structural demand challenges in the PVC pipes segment

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 43d ago
Neutral 1
  • Large block trade on NSE Jun 17

    Finolex Industries recorded a block trade worth ₹50.35 crores on NSE, involving ~29.7 lakh shares at ₹169.50 per share, suggesting institutional-level participation.

TL;DR: Limited recent news flow for Finolex Industries. The only notable development is a sizable block trade on Jun 17, which signals institutional activity but carries no clear directional bias. With no concrete headwinds or positive catalysts in the latest coverage, the near-term outlook depends on upcoming quarterly results and demand trends in the PVC pipes segment.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,179
883
1,020
1,235
1,140
828
1,001
1,172
1,043
859
898
1,314
884
Expenses
1,027
780
900
1,026
934
818
918
1,001
950
729
775
982
777
Operating Profit
152
103
120
209
207
11
83
171
94
130
123
332
107
OPM %
13%
12%
12%
17%
18%
1.3%
8%
15%
9%
15%
14%
25%
12%
Other Income
48
70
47
54
472
85
66
85
69
68
63
53
76
Interest
9
12
8
7
7
7
10
6
6
4
3
8
7
Depreciation
34
27
28
27
26
26
27
27
27
27
26
26
27
PBT
157
133
132
229
646
62
112
223
131
166
157
351
148
Tax %
26%
27%
27%
28%
23%
34%
16%
26%
25%
26%
26%
26%
23%
Net Profit
115
98
95
165
501
41
94
165
98
124
116
261
115
EPS in Rs
1.86
1.58
1.54
2.66
8.07
0.66
1.52
2.65
1.58
1.99
1.87
4.21
1.85
Figures in ₹ Crores

Profit & Loss

  Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,482
2,602
2,738
3,091
2,985
3,462
4,647
4,397
4,317
4,142
4,113
3,954
Expenses
2,075
2,039
2,253
2,487
2,536
2,472
3,624
4,105
3,732
3,666
3,435
3,262
Operating Profit
407
563
484
604
448
990
1,023
293
585
476
679
692
OPM %
16%
22%
18%
20%
15%
29%
22%
7%
14%
12%
16%
18%
Other Income
71
32
40
26
55
87
457
145
218
703
254
260
Interest
45
15
10
12
11
7
14
27
36
30
21
22
Depreciation
51
55
61
70
74
78
83
89
116
107
107
108
PBT
383
525
454
548
418
992
1,383
321
651
1,043
805
822
Tax %
33%
32%
33%
33%
20%
26%
24%
22%
27%
23%
26%
—
Net Profit
258
355
306
367
333
738
1,051
251
474
800
599
615
EPS in Rs
4.15
5.72
4.94
5.92
5.36
11.89
16.94
4.04
7.63
12.89
9.65
9.92
Div. Payout %
48%
40%
41%
34%
37%
34%
24%
37%
33%
28%
28%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
124
124
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
5,511
5,973
6,091
Borrowings
212
94
101
90
283
204
278
541
394
237
446
Other Liabilities
583
588
610
666
623
951
1,140
841
1,030
1,048
935
Total Liabilities
2,385
2,997
3,506
3,332
2,891
4,294
5,345
6,285
7,058
7,382
7,596
Fixed Assets
850
855
884
951
1,017
1,002
993
1,055
1,055
1,008
1,017
CWIP
7
22
90
90
7
8
9
44
19
73
28
Investments
854
1,264
1,607
1,362
656
1,679
2,718
3,952
4,586
4,910
4,969
Other Assets
675
856
925
929
1,211
1,604
1,625
1,234
1,398
1,391
1,581
Total Assets
2,385
2,997
3,506
3,332
2,891
4,294
5,345
6,285
7,058
7,382
7,596
Figures in ₹ Crores

Cash Flow

  Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
569
252
338
391
106
941
622
308
353
383
192
Investing
-77
35
-162
-228
49
-877
-440
-294
-83
8
-156
Financing
-494
-282
-175
-163
-105
-90
-190
-29
-277
-349
-49
Net Cash Flow
-2
4
1
0
51
-26
-8
-15
-6
42
-13
Free Cash Flow
538
157
166
289
46
876
918
140
267
268
133
CFO/OP
156
76
95
94
49
116
94
128
85
122
53
Figures in ₹ Crores

Ratios

  Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
3
7
6
9
9
16
26
25
39
33
32
Inventory Days
100
128
128
120
164
176
132
81
99
108
156
Days Payable
55
52
52
55
44
84
60
35
39
61
56
Cash Conversion Cycle
48
83
81
74
129
108
98
71
98
80
133
Working Capital Days
0
28
32
33
39
22
17
-6
13
20
247
ROCE %
—
25%
17%
21%
17%
36%
27%
7%
11%
9%
13%

Shareholding Pattern

As of Jun 2026
Promoters 52.47%
Public 23.75%
DIIs 11.35%
Others 6.57%
FIIs 5.85%
Government 0.01%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
52.47%
52.47%
52.47%
52.47%
52.47%
52.47%
52.47%
52.47%
52.47%
52.47%
52.47%
52.47%
52.47%
52.47%
52.47%
52.47%
52.47%
52.47%
52.47%
52.47%
52.47%
52.47%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
6.67%
6.45%
6.41%
6.89%
6.40%
6.64%
6.48%
6.04%
5.92%
5.87%
5.87%
5.85%
DIIs
11.85%
11.53%
10.65%
9.82%
9.45%
9.78%
9.78%
11.62%
12.26%
11.87%
12.14%
11.95%
10.95%
11.96%
12.07%
12.05%
11.70%
11.36%
12.11%
12.19%
12.79%
11.35%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
Public
26.83%
26.86%
26.69%
26.56%
26.92%
27.11%
26.79%
24.55%
24.07%
24.14%
22.45%
22.83%
22.97%
22.04%
22.48%
22.62%
22.87%
23.50%
23.09%
23.06%
22.54%
23.75%
Others
8.85%
9.13%
10.20%
11.16%
11.15%
10.65%
10.95%
11.35%
11.20%
11.51%
6.26%
6.30%
7.19%
6.64%
6.57%
6.21%
6.47%
6.62%
6.40%
6.40%
6.33%
6.57%
No. of Shareholders
1,25,069
1,69,648
1,90,417
2,25,044
2,72,282
2,75,060
2,84,347
2,48,095
2,38,404
2,31,913
2,18,094
2,26,844
2,13,679
2,11,507
2,26,758
2,38,785
2,51,087
2,50,051
2,45,505
2,46,153
2,37,719
2,45,937

Documents

1
Concall - May 2017 May 2017
2
Concall - Jun 2017 Jun 2017
3
Concall - Nov 2017 Nov 2017
4
Concall - Feb 2018 Feb 2018
5
Concall - Aug 2018 Aug 2018

Frequently Asked Questions about Finolex Industries Ltd

What does Finolex Industries Ltd do?
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 ...
Where is Finolex Industries Ltd (FINPIPE) listed?
Finolex Industries Ltd is listed on the Indian stock exchanges. It is listed on NSE: FINPIPE and BSE: 500940. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Finolex Industries Ltd belong to?
Finolex Industries Ltd operates in the Industrial Products sector within the Plastic Products - Industrial industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Finolex Industries Ltd?
Finolex Industries Ltd has a market capitalisation of approximately ₹9853.17 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Finolex Industries Ltd?
The Price-to-Earnings (PE) ratio of Finolex Industries Ltd is 15.96. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Finolex Industries Ltd?
Over the past 52 weeks, Finolex Industries Ltd has traded between a low of ₹147.54 and a high of ₹222.5. This range helps investors understand the stock's price volatility and recent trading levels.
Does Finolex Industries Ltd pay dividends?
Yes, Finolex Industries Ltd has a dividend yield of 2.26%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Finolex Industries Ltd?
Finolex Industries Ltd has a Return on Equity (ROE) of 13.12%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Finolex Industries Ltd on Tapetide?
On Tapetide, you can view Finolex Industries Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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]

Website finolexpipes.com
CEO Mr. Prakash Pralhad Chhabria B.Sc.
Employees 1,499
Listed 1995-02-08
Face Value ₹ 2
Issued Size 62,04,76,905

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