Finolex Industries Ltd.

NSE: FINPIPE · Plastic Products - Industrial

52W Range₹148 ₹223

Snapshot

Unlock Finolex Industries Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Finolex Industries Limited is a leading Indian manufacturer specialising in PVC resins and a comprehensive range of PVC pipes and fittings. The company serves diverse sectors including agriculture, plumbing, and sanitation through an extensive distribution network.

Business Model

The company generates revenue by manufacturing and selling PVC resins and finished pipe products through a widespread network of dealers and retail outlets across India.

  • Founded:1956

Growth Outlook

Growth is primarily driven by increasing demand for agricultural irrigation solutions and infrastructure development in the plumbing and sewerage sectors across India.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the global prices of PVC resin and its feedstocks can significantly impact the company's operating margins.
  • Cyclical Demand. The demand for PVC pipes is closely linked to the cyclical nature of the Indian agricultural and construction sectors.
  • Competitive Intensity. The plastic piping industry in India is highly fragmented, leading to intense price competition from both organised and unorganised players.
  • Regulatory Risks. Changes in environmental regulations regarding plastic manufacturing and waste management could necessitate additional capital expenditure.

Price

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Key Metrics

REVENUE

₹4,113 Cr

TTM · consolidated

-0.7%YoY

NET PROFIT

₹599 Cr

TTM · consolidated

-25.1%YoY

EPS

₹5.47

TTM · consolidated

-57.7%YoY

RETURN ON EQUITY

9.8%

TTM · consolidated

-4.1 ppYoY

RETURN ON CAPITAL EMPLOYED

12.2%

TTM · consolidated

-4.8 ppYoY

P/E

30.6x

Q4 FY26 · consolidated

30.6 vs 18.6x5Y avg

EV/EBITDA

12.1x

Q4 FY26 · consolidated

12.1 vs 14.6x5Y avg

EBITDA MARGIN

21.6%

TTM · consolidated

+4.2 ppYoY

NET PROFIT MARGIN

19.9%

Q4 FY26 · consolidated

+5.9 ppYoY

DEBT TO EQUITY

0.1x

Q4 FY26 · consolidated

+0.03xYoY

Peers · Plastic Products - Industrial

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Finolex Industries Ltd.FINPIPE
10,11630.6012.08-0.7%21.6%9.8%12.2%-21.9%
Shaily Engineering Plastics LimitedSHAILY
10,78172.9635.2757.3%28.9%35.8%45.2%+66.2%
Garware Hi-Tech Films LimitedGRWRHITECH
8,18447.6131.980.5%23.6%13.8%18.1%+87.0%
Time Technoplast LimitedTIMETECHNO
8,06516.4111.0311.9%14.8%14.9%19.8%-55.7%
Kingfa Science & Technology (India) LimitedKINGFA
5,50030.1119.7540.9%14.0%25.1%34.2%+48.6%
Prince Pipes and Fittings LimitedPRINCEPIPE
2,50340.5412.262.9%9.4%4.6%6.4%-24.4%

As of Q4 FY26

Financials