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Finolex Industries Limited

Finolex Industries Limited

148.03
INR
+0.11
(+0.07%)
9.96EPS
17.56P/E
108.12BMarket Cap
Oct 23Next Earn
Finolex Industries Limited
NSE:FINPIPE
(National Stock Exchange of India)

Recent

price

148.03

P/E

ratio

17.56

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
INR
31.87
33.84
34.57
39.53
39.91
45.82
41.43
43.62
49.45
47.64
55.39
74.31
70.53
69.13
66.46
65.67
63.98
Revenue per Share
1.23
1.21
2.19
2.74
0.77
4.15
5.72
4.94
5.92
5.36
11.89
16.94
4.05
7.66
12.94
9.69
9.96
Basic EPS, GAAP
-2.2
1.39
2.51
2.82
2.95
8.64
2.52
2.67
4.66
0.73
14.12
8.66
2.25
4.32
4.32
2.05
- -
Free Cash Flow per Basic Share
0.7
0.7
0.7
1.27
1.58
0.47
2.41
2.77
2.34
4.63
0.07
4
4.01
1.5
2.5
3.6
- -
Dividend per Share
10
10.67
11.62
12.73
22.16
25.63
37.31
45.05
41.52
32.01
50.59
63.52
79.29
91.12
98.6
100.51
- -
Book Value per Share
10
10.65
11.6
12.71
22.11
25.59
37.25
45.01
41.49
31.98
50.57
63.51
79.28
91.1
98.52
100.46
- -
Tangible Book Value per Share
620
620
620
620
620
620
620
620
621
620
620
620
618
618
618
618
618
Basic Weighted Avg Shares
19,777
20,998
21,448
24,530
24,761
28,431
25,704
27,065
30,685
29,562
34,370
46,109
43,613
42,741
41,093
40,605
39,539
Sales/Revenue/Turnover
8.22
7.48
14.22
13.65
6.28
12.65
19.76
15.66
17.46
13.51
26.55
20.48
5.41
11.09
9.06
14.94
14.78
Operating Margin (%)
744
755
544
623
587
506
550
606
701
738
777
834
892
1,160
1,067
1,068
1,076
Depreciation Expense
762
752
1,361
1,701
478
2,578
3,548
3,063
3,673
3,327
7,378
10,514
2,507
4,736
8,000
5,991
6,154
Net Income, GAAP
33.74
22.32
28.41
29.65
40.85
32.67
32.43
32.56
33.04
20.38
25.63
23.98
21.97
27.2
23.31
25.59
25.12
Effective Tax Rate (%)
3.85
3.58
6.35
6.94
1.93
9.07
13.8
11.32
11.97
11.25
21.47
22.8
5.75
11.08
19.47
14.75
15.56
Profit Margin (%)
-1,595
-1,407
-1,090
195
596
1,802
2,698
3,278
5,370
5,329
10,527
18,471
17,564
20,987
24,982
28,490
- -
Working Capital
1,954
1,896
1,397
2,322
1,833
- -
- -
- -
- -
- -
- -
- -
122
95
95
20
- -
LT Debt
6,203
6,621
7,212
7,897
13,752
15,905
23,148
27,951
25,762
19,860
31,390
39,278
49,031
56,343
60,969
62,147
- -
Total Equity
8.68
7.78
8.94
11.97
3.97
13.23
16.14
10.76
12.17
12.85
24.07
26.55
3.83
6.01
9.79
6.96
- -
Return on Invested Capital (%)
8.34
6.64
9.95
12.87
4.03
14.26
17.19
11.67
13.36
13.58
26.5
27.89
5.38
8.59
13.19
9.36
- -
Return on Capital (%)
12.61
11.72
19.68
22.52
4.41
17.38
18.17
11.99
13.67
14.58
28.79
29.75
5.68
8.99
13.64
9.73
- -
Return on Common Equity (%)

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
4,437
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
20
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
618
618
618
Market Capitalization
107,593
92,716
108,125

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
39,686
- -
Cash, Cash Equivalents & STI
- -
24,642
- -
Accounts Receivable, Net
- -
3,623
- -
Inventories
- -
10,260
- -
Total Current Liabilities
- -
11,196
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
4,437
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
16.86%
15%
1.93%
Free Cash Flow
169.88%
-14.62%
-52.55%
Net Income, GAAP
25.53%
19.81%
-25.12%
Sales/Revenue/Turnover
4.34%
4.34%
-1.19%
Total Cash Common Dividend
- -
- -
43.98%

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
11,405
8,284
10,012
11,718
41,093
2026
10,432
8,587
8,977
13,139
40,605
2027
8,836
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
8.1
0.66
1.52
2.66
12.94
2026
1.59
2
1.88
4.23
9.69
2027
1.85
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
2.5
2026
- -
- -
- -
- -
3.6
2027
- -
- -
- -
- -
- -
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Business
Finolex Industries Limited manufactures and markets polyvinyl chloride (PVC) pipes and fittings, along with PVC resin, serving agriculture, plumbing, sanitation, drainage, sewerage, and industrial applications across India. The company produces a comprehensive range of PVC-U pipes and fittings including agricultural irrigation pipes, casing pipes, column pipes, plumbing pipes, sewerage and drainage pipes, SWR pipes, underground drainage systems, lead-free plumbing solutions per ASTM standards, CPVC piping systems, and associated solvent cements; it also manufactures suspension and emulsion/paste PVC resins with backward integration. Finolex Industries operates ISO 9001:2015-certified manufacturing facilities in Ratnagiri and Urse in Maharashtra, and Masar in Gujarat, with an annual PVC pipes and fittings production capacity of 495,000 metric tons in fiscal year 2025, up from 470,000 metric tons in fiscal year 2024, supported by a PVC resin capacity of 272,000 metric tons annually; headquarters are located in Pune, Maharashtra, where the company was incorporated in 1981. Recent developments include a 2% volume increase in pipes and fittings to 102,253 metric tons in the March 2025 quarter despite weak demand, a shift in product mix from 61:39 agri-to-non-agri in prior year to 56:44, capacity expansions adding 25,000 metric tons in pipes production, projected annual capital expenditure of 100-200 crore rupees to support 50,000-80,000 metric tons of incremental capacity, and a 112% quarter-on-quarter surge in standalone profit after tax to 150.26 crore rupees in that period; the company anticipates mid-single-digit volume growth and EBITDA margins of 10-12% for fiscal year 2026.