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Finolex Inds Overview

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, s...Read More

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Finolex Inds Key Financials

Market Cap ₹10833 Cr.

Stock P/E 13.5

P/B 1.8

Current Price ₹174.6

Book Value ₹ 97

Face Value 2

52W High ₹238

Dividend Yield 2.06%

52W Low ₹ 147.4

Finolex Inds Share Price

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Volume
Price

Finolex Inds Quarterly Price

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Finolex Inds Peer Comparison

Finolex Inds Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 883 1020 1235 1140 828 1001 1172 1043 859 898
Other Income 61 35 44 55 83 48 65 65 58 52
Total Income 945 1055 1279 1195 911 1050 1236 1108 916 950
Total Expenditure 780 900 1026 934 818 918 1001 950 729 775
Operating Profit 164 155 253 262 93 132 236 158 188 176
Interest 12 8 7 7 7 10 6 6 4 3
Depreciation 27 28 27 26 26 27 27 27 27 26
Exceptional Income / Expenses 0 0 0 417 0 0 0 0 0 0
Profit Before Tax 124 120 219 646 60 95 203 126 156 146
Provision for Tax 35 36 64 146 21 18 59 33 43 41
Profit After Tax 89 84 155 500 39 77 144 93 114 105
Adjustments 9 12 10 1 2 17 20 5 10 11
Profit After Adjustments 98 95 165 501 41 94 165 98 124 116
Adjusted Earnings Per Share 1.6 1.5 2.7 8.1 0.7 1.5 2.7 1.6 2 1.9

Finolex Inds Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 2843 2602 2738 3091 2985 3462 4647 4397 4317 4142 3972
Other Income 39 24 24 40 33 74 82 121 180 247 240
Total Income 2882 2626 2762 3132 3017 3536 4730 4518 4497 4389 4210
Total Expenditure 2439 2040 2254 2487 2540 2473 3624 4105 3733 3666 3455
Operating Profit 443 586 508 645 477 1063 1106 413 765 722 758
Interest 45 15 10 12 11 9 14 27 36 30 19
Depreciation 51 55 61 70 74 78 83 89 116 107 107
Exceptional Income / Expenses 24 0 0 -28 0 0 376 0 0 417 0
Profit Before Tax 383 525 454 548 418 992 1383 321 651 1043 631
Provision for Tax 125 170 148 181 85 254 332 71 177 243 176
Profit After Tax 258 355 306 367 333 738 1051 251 474 800 456
Adjustments 0 0 0 0 0 0 0 0 0 0 46
Profit After Adjustments 258 355 306 367 333 738 1051 251 474 800 503
Adjusted Earnings Per Share 4.2 5.7 4.9 5.9 5.4 11.9 16.9 4.1 7.7 12.9 8.2

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -4% -4% 7% 0%
Operating Profit CAGR -6% -13% 9% 0%
PAT CAGR 69% -9% 19% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -0% 1% 4% 9%
ROE Average 14% 9% 17% 16%
ROCE Average 17% 12% 22% 21%

Finolex Inds Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 1591 2315 2795 2576 1986 3139 3928 4903 5634 6097
Minority's Interest 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 208 222 220 241 214 219 219 246 320 307
Total Current Liabilities 587 459 491 514 691 936 1199 1136 1104 978
Total Liabilities 2385 2997 3506 3332 2891 4294 5345 6285 7058 7382
Fixed Assets 850 855 884 951 1017 1002 993 1055 1055 1008
Other Non-Current Assets 769 1412 1802 1329 650 1303 1306 2338 2800 2898
Total Current Assets 767 729 819 1051 1224 1989 3046 2892 3199 3476
Total Assets 2385 2997 3506 3332 2891 4294 5345 6285 7058 7382

Finolex Inds Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 12 2 6 7 7 57 31 24 9 2
Cash Flow from Operating Activities 569 252 338 391 106 941 622 308 353 383
Cash Flow from Investing Activities -77 35 -162 -228 49 -877 -440 -294 -83 8
Cash Flow from Financing Activities -494 -282 -175 -163 -105 -90 -190 -29 -277 -349
Net Cash Inflow / Outflow -2 4 1 -0 51 -26 -8 -15 -6 42
Closing Cash & Cash Equivalent 10 6 7 7 57 31 24 9 2 44

Finolex Inds Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 4.15 5.72 4.94 5.92 5.36 11.89 16.94 4.05 7.66 12.94
CEPS(Rs) 4.97 6.61 5.91 7.05 6.55 13.14 18.29 5.5 9.54 14.66
DPS(Rs) 2 2.3 2 2 2 4 4 1.5 2.5 3.6
Book NAV/Share(Rs) 25.63 37.31 45.05 41.52 32.01 50.59 63.3 79.29 91.12 98.6
Core EBITDA Margin(%) 12.62 18.82 17.09 19.55 14.9 28.57 22.03 6.65 13.55 11.49
EBIT Margin(%) 13.34 18.09 16.39 18.14 14.38 28.93 30.06 7.93 15.91 25.9
Pre Tax Margin(%) 11.95 17.58 16.04 17.74 14 28.65 29.76 7.31 15.07 25.19
PAT Margin (%) 8.04 11.88 10.82 11.88 11.15 21.31 22.62 5.7 10.97 19.32
Cash Profit Margin (%) 9.62 13.72 12.96 14.15 13.62 23.55 24.42 7.73 13.66 21.89
ROA(%) 10.81 13.19 9.42 10.74 10.69 20.54 21.81 4.31 7.1 11.08
ROE(%) 16.21 18.17 11.99 13.67 14.58 28.79 29.75 5.68 8.99 13.64
ROCE(%) 23.73 25.67 17.5 20.16 17.39 35.69 37.02 7.23 12 17.4
Receivable days 2.01 4.28 6.16 6.93 9.02 11.66 18.95 26.23 31.92 36.87
Inventory Days 50.94 61.37 75.35 72.73 90.4 93.65 75.96 70.09 59.23 66.55
Payable days 44.7 54.19 49.97 51.53 48.86 63.75 58.36 45.25 39.11 50.69
PER(x) 17.54 20.19 26.38 16.94 14.58 10.71 9.14 42.12 32.2 13.91
Price/Book(x) 2.84 3.1 2.89 2.42 2.44 2.52 2.45 2.15 2.71 1.83
Dividend Yield(%) 2.74 1.99 1.54 1.99 2.56 0.63 2.58 0.88 1.01 2
EV/Net Sales(x) 1.66 2.78 2.98 2.03 1.69 11.38 2.11 2.51 3.61 2.71
EV/Core EBITDA(x) 10.66 12.36 16.05 9.75 10.55 37.06 8.86 26.66 20.4 15.54
Net Sales Growth(%) 0 -8.47 5.2 12.91 -3.46 16.01 34.23 -5.39 -1.81 -4.06
EBIT Growth(%) 0 26.42 -14.14 20.83 -23.48 133.39 39.51 -75.06 97.12 56.17
PAT Growth(%) 0 37.66 -13.67 19.89 -9.42 121.79 42.5 -76.15 88.91 68.93
EPS Growth(%) 0 37.66 -13.67 19.88 -9.42 121.79 42.5 -76.07 88.91 68.93
Debt/Equity(x) 0.13 0.04 0.04 0.03 0.14 0.06 0.07 0.11 0.07 0.04
Current Ratio(x) 1.31 1.59 1.67 2.04 1.77 2.12 2.54 2.55 2.9 3.56
Quick Ratio(x) 0.54 0.37 0.42 0.84 0.53 1.14 1.69 1.95 2.24 2.76
Interest Cover(x) 9.56 35.14 47.27 45.7 38.04 106.31 99.16 12.8 18.85 36.2
Total Debt/Mcap(x) 0.05 0.01 0.01 0.01 0.06 0.03 0.03 0.05 0.03 0.02

Finolex Inds Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 52.47 52.47 52.47 52.47 52.47 52.47 52.47 52.47 52.47 52.47
FII 6.45 6.41 6.89 6.4 6.64 6.48 6.04 5.92 5.87 5.87
DII 11.96 10.96 11.96 12.07 12.06 11.71 11.37 12.11 12.2 12.79
Public 29.13 30.17 28.67 29.05 28.83 29.34 30.12 29.49 29.46 28.87
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Finolex Inds News

Finolex Inds Pros & Cons

Pros

  • Company is almost debt free.

Cons

  • Company has a low return on equity of 9% over the last 3 years.
  • Debtor days have increased from 39.11 to 50.69days.
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