Finolex Industries Ltd Stock Analysis

BSE: 500940 | NSE: FINPIPE | Plastic Products | Mid Cap

BSE Share Price 29-Nov-2022 18:01
156.45 -2.30 (-1.45%)

DeciZen - Make an Informed Decision on Finolex Inds

Overall Rating

1. Quality

2. Valuation

Fair

3. Price Trend

Finolex Inds Price Chart

P/E Ratio (SA) :
14.53
Market Cap :
9,850.1 Cr.
52-wk low :
128
52-wk high :
214.9
Bole Toh?

1. Is Finolex Industries Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Finolex Industries Ltd is a good quality company.

2. Is Finolex Industries Ltd undervalued or overvalued?

The key valuation ratios of Finolex Industries Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Finolex Industries Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Finolex Industries Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Finolex Inds:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Finolex Industries Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
ROCE % 13.7%15.9%7.5%16.3%17.3%11.2%13.6%14.3%26.2%21.4%-
Value Creation Index -0.00.1-0.50.20.3-0.200.10.90.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 2,1452,4532,4762,8432,6022,7383,0912,9853,4624,6474,731
YoY Gr. Rt. %-14.4%0.9%14.8%-8.5%5.2%12.9%-3.5%16%34.2%-
Adj EPS 33.213.75.64.65.95.42.312.610.9
YoY Gr. Rt. %-5.3%-69.2%278.6%51.5%-17.6%26.4%-7.4%-57.6%448.7%-
BVPS (₹) 11.612.712.725.336.944.640.831.149.562.361.8
Adj Net Profit 18719860.6230349287363336713783678
Cash Flow from Ops. 274245212569252338391106941622-
Debt/CF from Ops. 3.12.930.40.40.30.22.70.20.5-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 9%12.3%14.6%34.2%
Adj EPS 17.2%17.6%29.2%448.7%
BVPS 20.51115.225.8
Share Price 29% 3.7% 10.4% -20.2%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % 27.126.27.719.518.111.413.715.128.522.617.6
Op. Profit Mgn % 16.816.28.814.421.617.719.615.828.622.110.4
Net Profit Mgn % 8.78.12.58.113.410.511.711.320.616.814.3
Debt to Equity 1.20.90.80.10000.20.10.10
Working Cap Days 105951008392112106123126110209
Cash Conv. Cycle 35454927254342645749143

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 14.56%

Net Profit is growing at healthy rate in last 3 years 29.21%

Return on Equity has declined versus last 3 years average to 17.60%

Sales growth is not so good in last 4 quarters at 8.04%

Latest Financials - Finolex Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 10.9 10.9
TTM Sales (₹ Cr.) 4,731 4,731
BVPS (₹.) 61.8 62.8
Reserves (₹ Cr.) 3,709 3,771
P/BV 2.57 2.53
PE 14.53 14.59
From the Market
52 Week Low / High (₹) 128.00 / 214.90
All Time Low / High (₹) 0.41 / 268.00
Market Cap (₹ Cr.) 9,850
Equity (₹ Cr.) 124.1
Face Value (₹) 2
Industry PE 19.8

Management X-Ray of Finolex Inds :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.020.020.020.020.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Finolex Inds

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

Finolex Industries Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Finolex Inds on 29-Nov-2022 18:01 is : 156.4.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 29-Nov-2022 18:01 the market cap of Finolex Inds stood at ₹ 9,850.1.
The latest PE ratio of Finolex Inds as of 29-Nov-2022 18:01 is 14.53.
The latest PB ratio of Finolex Inds as of 29-Nov-2022 18:01 is 2.57
The 52-week high of Finolex Inds is ₹ 214.9 and the 52-week low is ₹ 128.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue / sales of Finolex Inds is ₹ 4,731 ( Cr.) .

About Finolex Industries Ltd

Finolex Industries Limited (FIL), formerly Finolex Pipes Ltd., was incorporated in 1981 and has been in the Plastics business since then. Beginning as a modest rigid PVC (Poly Vinyl Chloride) pipe manufacturer, FIL went on for backward integration and now manufactures PVC resin too.

The company’s manufacturing plants in Pune, Ratnagiri, and Masar house are all the modern-day equipment. Finolex PVC Pipes and Fittings are available in various sizes, pressure classes and diameters making them suitable for diversified applications in both agricultural as well as non-agricultural sectors including housing, industrial and construction. The company has been providing superior quality PVC-U and CPVC Pipes and Fittings, all across the country through its vast direct and indirect retail outlets.

Business area of the company

The company is engaged in the business of manufacturing PVC pipes & fittings and PVC resin. he company's product range includes PVC Resin ,PVC-U Pipes & Fittings, Selfit PVC-U Pipes (for agriculture and potable water supply),Ringfit PVC-U Pipes (for agriculture and potable water supply),Moulded Fittings for Agriculture,Fabricated Fittings for Agriculture,Protector Well Casings and Screens,Underground Sewerage Pipes,Selfit & Ringfit SWR PVC Pipes ,SWR Moulded Fittings,Plumbing Pipes (for domestic plumbing applications),Solvent Cemented Fittings (for domestic plumbing applications),etc. The company is also trading actively in Ethylene Di Chloride and Methanol.These products are used as solvents in the Pharma, Fertilizer, Paints, Lamination, Amines and various other industries in India.

Product portfolio

Agriculture

  • Agriculture Pipes & Fittings
  • Casing Pipes
  • Column Pipes
  • Solvent Cement & Lubricant

Non-agriculture

  • FlowGuard Plus CPVC Pipes & Fittings
  • Plumbing Pipes & Fittings
  • Sewerage Pipes
  • SWR Pipes & Fittings
  • Solvent Cement & Lubricant

Awards

2016-17

  • The company has won Supply Chain Icon of the Year 2017 by Global Logistics Excellence Awards
  • The company has won Water Company of the Year Award by the National CSR Leadership Congress & Awards.

2017-18

  • Finolex Industries Limited and Mukul Madhav Foundation were awarded with the ‘Best CSR Integrated Business under National Excellence for CSR and Sustainability’ at the ‘National CSR Leadership Congress & Awards’, which was held in Bengaluru, Karnataka during September 2017.
  • The company was awarded with the Best CSR Practice and Sustainability Award by ET Now (Feb 2018).

2018-19

  • Brand Leadership award given to Finolex Industries at the “Pune Best Brand Awards in Real Estate Sector” by the “Global Real Estate Congress” in October 2018.
  • Finolex Industries Limited received the Indywood CSR Excellence Award for “Best CSR practices in Speciality Healthcare” in December 2018. The award was given by Ms. Valeria V. Kolesnik, Head of Russian Cultural Ministry of Cinematography
  • Received Gujarat CSR Excellence Award for best Water conservation and Watershed projects at the hands of Shri Dharmendra Pradhan(Hon. Cabinet Minister of Petroleum and Natural Gas) and Shri Ganpatbhai Vasava ( Minister for Tribal development, Tourism, Forest, Women and Child Welfare) in November 2018.

2019-20

  • Finolex Honoured with Yuva Unstoppable Gratitude Award
  • Punyadham Humanitarian Service Award
  • Pride of Pune Award
  • IEBF Excellence Award - 2019
  • B G Deshmukh Award

History and Milestones

  • 1981: Finolex Industries Limited (FIL) was incorporated and had a modest beginning as a rigid PVC (Poly Vinyl Chloride) pipes manufacturer with a manufacturing plant in Pune.
  • 1985: FIL pioneered the concept of “Ringfit’ pressure pipes.
  • 1994: FIL set up a state of the art PVC Resin plant near Ratnagiri on the West Coast of Maharashtra State. The 130,000 M.T. PVC plant was set up in technical collaboration with Uhde GmbH of Germany and under technology license from Hoechst AG. FIL manufactures suspension PVC as well as emulsion/ paste PVC
  • 1996: FIL became India’s first manufacturer of PVC pipes and fittings to be awarded the ISO 9001: 2000 certification.
  • 1999: FIL also started manufacturing PVC pipes at Ratnagiri to meet its growing demand and introduced ASTM Pipes to cater the need of Plumbing sector
  • 2002: PVC Pipes and PVC Resin plants at Ratnagiri were awarded the IS14001 certificate for Environment Management Systems.
  • 2006: Finolex Industries Ltd., proudly celebrated 25 years of its success and the PVC Resin capacity was expanded from 1,30,000 MT to 2,60,000 MT. Further expanding its product range, FIL launched ASTM fittings to its product portfolio.
  • 2007: FIL introduced Underground Sewerage Pipes as per IS: 15328 - 2003.
  • 2008: Taking a step further with advancement in technology, FIL introduced LEAD FREE Plumbing pipes as per ASTM Standards.
  • 2009: FIL started a brand new state-of-the-art unit for manufacturing agriculture pipes and casing pipes at Urse, Pune with the capacity of 28000 MT p.a.
  • 2012: FIL started a new manufacturing plant at Masar, near Vadodara in Gujarat.
  • 2014: FIL set up a warehouse at Cuttack (Odisha)
  • 2016-17: Company has signed the FlowGuard Processor agreement with Lubrizol Corporation, the world leaders in CPVC resin and compounds since 1959.
  • 2017-18: The company participated in Constro 2018 International Fair at Agricultural Ground in Pune, Maharashtra.
  • 2018-19: Finolex Industries Ltd. alongside CSR partner Mukul Madhav Foundation inaugurated 77 toilets for the tribal residents of Palghar District
  • 2019-20: Finolex Pipes showcased its entire range of Agricultural Pipes to farmers and the Agricultural community attending the event.
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