Finolex Industries is currently trading at Rs. 292.60, up by 4.50 points or 1.56% from its previous closing of Rs. 288.10 on the BSE.
The scrip opened at Rs. 290.80 and has touched a high and low of Rs. 294.05 and Rs. 290.15 respectively. So far 6397 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 310.35 on 25-Aug-2014 and a 52 week low of Rs. 99.00 on 04-Sep-2013.
Last one week high and low of the scrip stood at Rs. 310.35 and Rs. 285.90 respectively. The current market cap of the company is Rs. 3640.96 crore.
The promoters holding in the company stood at 52.46% while Institutions and Non-Institutions held 8.17% and 39.37% respectively.
Finolex Industries has reportedly decided to focus on the former rather than on the resin business, which requires more capital for expansion. To focus on pipes, the company is adding 30,000 tonnes a year capacity through brown-field expansion at its units at Pune, Ratnagiri and Masar, over the next three years. The incremental capex of Rs 90 crore will take the company’s annual capacity to 3.2 lakh tonnes.
The resin business currently accounts for around 40 per cent of Finolex’s top line (Rs 2,453 crore in FY-14). The company expects to grow at 15-20 per cent a year, with the percentage of revenue from pipes growing.
Further, the Pune-based company has dropped an earlier plan to build a fourth pipes manufacturing plant in India. Instead, it plans to enhance capacity at its three existing plants in a phased manner. It has also set up its first warehouse in Odisha to help it expand into northern and eastern markets.
Finolex is the largest player in the fragmented and competitive PVC pipes and fittings market in India, with an overall share of around 22%. In addition, its established brand equity and large dealer network have enabled it to capture a significant share of the growing retail PVC pipe market.
| Company Name | CMP |
|---|---|
| Supreme Industries | 4307.70 |
| Astral | 2013.60 |
| Finolex Inds | 271.15 |
| EPL | 178.00 |
| Jain Irrigation Sys | 59.75 |
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