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Consolidated Standalone

Finolex Inds

₹272.7 4.5 | 1.7%

Market Cap ₹16917 Cr.

Stock P/E 35.5

P/B 3

Current Price ₹272.7

Book Value ₹ 91.8

Face Value 2

52W High ₹287.6

Dividend Yield 0.55%

52W Low ₹ 163

Edit Ratio

Finolex Inds Research see more...

Overview Inc. Year: 1981Industry: Plastic Products

Finolex Industries Ltd manufacture PVC resins and polyvinyl chloride (PVC) pipes and fittings. The Company operates through 2 segments: PVC resin and PVC pipes & fittings. The Company gives its merchandise in numerous categories, which includes agricultural pipes and fittings, plumbing and sanitation pipes and fittings, and solvent cement, primer and lubricant. The Company gives its merchandise in diverse sizes, pressure classes and diameters. Its products consist of agricultural pipes and fittings, casing pipes, column pipes, sewerage pipes, soil, waste and rainwater (SWR) pipes and fittings, chlorinated polyvinyl chloride (CPVC) pipes, American society for testing and materials (ASTM) pipes and fittings, and solvent cement for pipes and fittings. The Company has production facilities within the states of Maharashtra and Gujarat.

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Finolex Inds Share Price

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Peer Comparison

Finolex Inds Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 1083 1005 1595 1190 941 1125 1141 1179 883 1020
Other Income 31 19 25 25 39 28 29 40 61 35
Total Income 1113 1024 1619 1215 980 1153 1170 1219 945 1055
Total Expenditure 783 763 1330 1064 1084 1033 924 1027 780 900
Operating Profit 330 261 289 151 -104 120 247 193 164 155
Interest 0 1 8 11 4 5 6 9 12 8
Depreciation 21 21 22 21 22 23 24 34 27 28
Exceptional Income / Expenses 0 0 376 0 0 0 0 0 0 0
Profit Before Tax 309 239 636 118 -130 92 216 149 124 120
Provision for Tax 75 61 143 18 -35 25 63 42 35 36
Profit After Tax 235 178 493 101 -95 67 153 108 89 84
Adjustments -1 -1 2 -1 -1 13 13 8 9 12
Profit After Adjustments 233 177 495 99 -95 80 167 115 98 95
Adjusted Earnings Per Share 3.8 2.9 8 1.6 -1.5 1.3 2.7 1.9 1.6 1.5

Finolex Inds Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 2843 2602 2738 3091 2985 3462 4647 4397 4223
Other Income 39 24 24 40 33 74 82 121 165
Total Income 2882 2626 2762 3132 3017 3536 4730 4518 4389
Total Expenditure 2439 2040 2254 2487 2540 2473 3624 4105 3631
Operating Profit 443 586 508 645 477 1063 1106 413 759
Interest 45 15 10 12 11 9 14 27 35
Depreciation 51 55 61 70 74 78 83 89 113
Exceptional Income / Expenses 24 0 0 -28 0 0 376 0 0
Profit Before Tax 383 525 454 548 418 992 1383 321 609
Provision for Tax 125 170 148 181 85 254 332 71 176
Profit After Tax 258 355 306 367 333 738 1051 251 434
Adjustments 0 0 0 0 0 0 0 0 42
Profit After Adjustments 258 355 306 367 333 738 1051 251 475
Adjusted Earnings Per Share 4.2 5.7 4.9 5.9 5.4 11.9 16.9 4.1 7.7

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -5% 14% 10% 0%
Operating Profit CAGR -63% -5% -4% 0%
PAT CAGR -76% -9% -4% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 47% 21% 25% 19%
ROE Average 6% 21% 19% 17%
ROCE Average 7% 27% 24% 23%

Finolex Inds Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 1591 2315 2795 2576 1986 3139 3928 4903
Minority's Interest 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 208 222 220 241 214 219 219 246
Total Current Liabilities 587 459 491 514 691 936 1199 1136
Total Liabilities 2385 2997 3506 3332 2891 4294 5345 6285
Fixed Assets 850 855 884 951 1017 1002 993 1055
Other Non-Current Assets 769 1412 1802 1329 650 1303 1306 2338
Total Current Assets 767 729 819 1051 1224 1989 3046 2892
Total Assets 2385 2997 3506 3332 2891 4294 5345 6285

Finolex Inds Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 12 2 6 7 7 57 31 24
Cash Flow from Operating Activities 569 252 338 391 106 941 622 302
Cash Flow from Investing Activities -77 35 -162 -228 49 -877 -440 -288
Cash Flow from Financing Activities -494 -282 -175 -163 -105 -90 -190 -29
Net Cash Inflow / Outflow -2 4 1 -0 51 -26 -8 -15
Closing Cash & Cash Equivalent 10 6 7 7 57 31 24 9

Finolex Inds Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 4.15 5.72 4.94 5.92 5.36 11.89 16.94 4.05
CEPS(Rs) 4.97 6.61 5.91 7.05 6.55 13.14 18.29 5.5
DPS(Rs) 2 2.3 2 2 2 4 4 1.5
Book NAV/Share(Rs) 25.63 37.31 45.05 41.52 32.01 50.59 63.3 79.29
Core EBITDA Margin(%) 12.62 18.82 17.09 19.55 14.9 28.57 22.03 6.65
EBIT Margin(%) 13.34 18.09 16.39 18.14 14.38 28.93 30.06 7.93
Pre Tax Margin(%) 11.95 17.58 16.04 17.74 14 28.65 29.76 7.31
PAT Margin (%) 8.04 11.88 10.82 11.88 11.15 21.31 22.62 5.7
Cash Profit Margin (%) 9.62 13.72 12.96 14.15 13.62 23.55 24.42 7.73
ROA(%) 10.81 13.19 9.42 10.74 10.69 20.54 21.81 4.31
ROE(%) 16.21 18.17 11.99 13.67 14.58 28.79 29.75 5.68
ROCE(%) 23.73 25.67 17.5 20.16 17.39 35.69 37.02 7.23
Receivable days 2.01 4.28 6.16 6.93 9.02 11.66 18.95 26.23
Inventory Days 50.94 61.37 75.35 72.73 90.4 93.65 75.96 70.09
Payable days 44.7 54.19 49.97 51.53 48.86 63.75 58.36 45.26
PER(x) 17.54 20.19 26.38 16.94 14.58 10.71 9.14 42.12
Price/Book(x) 2.84 3.1 2.89 2.42 2.44 2.52 2.45 2.15
Dividend Yield(%) 2.74 1.99 1.54 1.99 2.56 0.63 2.58 0.88
EV/Net Sales(x) 1.66 2.78 2.98 2.03 1.69 11.38 2.11 2.51
EV/Core EBITDA(x) 10.66 12.36 16.05 9.75 10.55 37.06 8.86 26.66
Net Sales Growth(%) 0 -8.47 5.2 12.91 -3.46 16.01 34.23 -5.39
EBIT Growth(%) 0 26.42 -14.14 20.83 -23.48 133.39 39.51 -75.06
PAT Growth(%) 0 37.66 -13.67 19.89 -9.42 121.79 42.5 -76.15
EPS Growth(%) 0 37.66 -13.67 19.88 -9.42 121.79 42.5 -76.07
Debt/Equity(x) 0.13 0.04 0.04 0.03 0.14 0.06 0.07 0.11
Current Ratio(x) 1.31 1.59 1.67 2.04 1.77 2.12 2.54 2.55
Quick Ratio(x) 0.54 0.37 0.42 0.84 0.53 1.14 1.69 1.95
Interest Cover(x) 9.56 35.14 47.27 45.7 38.04 106.31 99.16 12.8
Total Debt/Mcap(x) 0.05 0.01 0.01 0.01 0.06 0.03 0.03 0.05

Finolex Inds Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 52.47 52.47 52.47 52.47 52.47 52.47 52.47 52.47 52.47 52.47
FII 5.74 5.81 5.69 5.59 5.4 5.51 5.81 6.67 6.45 6.41
DII 9.84 9.5 9.82 9.81 11.63 12.26 11.88 12.15 11.96 10.96
Public 31.95 32.23 32.02 32.13 30.5 29.75 29.83 28.71 29.13 30.17
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 21%
  • Debtor days have improved from 58.36 to 45.26days.
  • Company is almost debt free.

Cons

  • The company has delivered a poor profit growth of -3% over past five 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.

Finolex Inds News

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