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Last Updated on: 23 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Finolex Industries Ltd

About the Company - Finolex Industries Ltd

Finolex Industries Ltd. is a Public Limited Listed company incorporated on 28/03/1981 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L40108PN1981PLC024153 and registration number is 024153. Currently Company is involved in the business activities of Manufacture of plastic in primary forms (includes amino-resins, polyurethanes etc.). Company’s Total Operating Revenue is Rs. 4647.32 Cr. and Equity Capital is Rs. 124.10 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Plastics - Pipes & FittingsGat No. 399, Village Urse, Pune District Maharashtra 410506investors@finolexind.com
www.finolexpipes.com
Management
NamePosition Held
Mr. Prakash P ChhabriaExecutive Chairman
Mr. Saumya ChakrabartiDirector - Technical
Mrs. Ritu P ChhabriaNon Exe.Non Ind.Director
Mr. Saurabh S DhanorkarNon Exe.Non Ind.Director
Ms. Bhumika L BatraIndependent Director
Mrs. Kanchan U ChitaleIndependent Director
Dr. Deepak R ParikhIndependent Director
Mr. Pradeep R RathiIndependent Director
Mr. Anami N RoyIndependent Director
Mr. Ajit VenkataramanManaging Director

Basic Stock Data of Finolex Industries Ltd

Last Updated: June 22, 2024, 10:47 pm

Market Cap 20,649 Cr.
Current Price 333
High / Low356/170
Stock P/E45.4
Book Value 89.2
Dividend Yield0.45 %
ROCE11.5 %
ROE8.79 %
Face Value 2.00
PEG Ratio7.47

Finolex Industries Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales1,0661,2499661,0831,0051,5951,1909411,1251,1411,1798831,020
Expenses7208397567837631,3301,0641,0841,0339241,027780900
Operating Profit346410210300242265126-14392217152103120
OPM %32%33%22%28%24%17%11%-15%8%19%13%12%12%
Other Income181415321940125392829406335
Interest125018114569128
Depreciation20202021212221222224342728
Profit before tax343402200310239636118-12992216149126120
Tax %25%26%27%24%26%22%15%27%22%27%26%25%26%
Net Profit256297147235178494100-94721581119489
EPS in Rs4.124.792.373.792.877.961.61-1.511.162.551.791.511.44

Last Updated: June 7, 2024, 8:48 am

Finolex Industries Ltd Quarterly Chart

Finolex Industries Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales2,1002,1452,4532,4762,4822,6022,7383,0912,9853,4624,6474,3974,328
Expenses1,8821,7852,0562,2642,0752,0392,2532,4872,5362,4723,6234,1053,763
Operating Profit2183593972124075634846044489901,025293565
OPM %10%17%16%9%16%22%18%20%15%29%22%7%13%
Other Income29-63-27-2622425143072458121160
Interest7551667045151012117142733
Depreciation765462595155617074788389108
Profit before tax97190242813735174395363939771,385297583
Tax %22%28%30%41%32%32%32%35%18%25%24%20%
Net Profit75136170482543522993503247281,053237435
EPS in Rs1.212.192.740.774.105.684.815.645.2211.7316.983.817.01
Dividend Payout %50%50%51%52%49%41%42%35%38%34%24%39%

Finolex Industries Ltd Profit & Loss Yearly Chart

Finolex Industries Ltd Growth

Compounded Sales Growth
10 Years:6%
5 Years:7%
3 Years:8%
TTM:-2%
Compounded Profit Growth
10 Years:9%
5 Years:5%
3 Years:-14%
TTM:115%
Stock Price CAGR
10 Years:20%
5 Years:27%
3 Years:25%
1 Year:89%
Return on Equity
10 Years:14%
5 Years:14%
3 Years:11%
Last Year:9%

Last Updated: June 18, 2024, 6:12 am

Finolex Industries Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital124124124124124124124124124124124124124
Reserves5385976666631,4462,1672,6402,4041,8062,9493,7404,7015,399
Borrowings1,0428397136372129410190283204278541605
Other Liabilities3794404334355675705896556039301,119817875
Total Liabilities2,0832,0011,9361,8592,3492,9553,4553,2732,8154,2075,2616,1827,003
Fixed Assets7848809058688508558849511,0171,0029931,0551,045
CWIP8551321072290907894460
Investments4933602211808171,2221,5551,3035801,5922,6333,8444,582
Other Assets7217117778016758569259291,2111,6041,6251,2391,315
Total Assets2,0832,0011,9361,8592,3492,9553,4553,2732,8154,2075,2616,1827,003

Finolex Industries Ltd Reserves and Borrowings Chart

Finolex Industries Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 155274245212569252338391106941622302
Cash from Investing Activity -3246211018-7735-162-22849-877-440-288
Cash from Financing Activity 171-356-344-239-494-282-175-163-105-90-190-29
Net Cash Flow2-2012-9-241-051-26-8-15

Finolex Industries Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days876737699162625
Inventory Days7812411211310012812812016417613281
Days Payable314725405552525544846035
Cash Conversion Cycle55849380488381741291089871
Working Capital Days493849541741454473443938
ROCE %10%19%23%11%24%25%17%21%16%36%27%6%

Finolex Industries Ltd Financial Efficiency Indicators Chart

Finolex Industries Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters52.47%52.47%52.47%52.47%52.47%52.47%52.47%52.47%52.47%52.47%52.47%52.47%
FIIs2.73%2.87%4.31%5.74%5.81%5.69%5.59%5.40%5.51%5.81%6.66%6.45%
DIIs11.84%11.56%10.67%9.84%9.49%9.82%9.80%11.61%12.25%11.87%12.14%11.95%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.01%0.01%0.01%0.01%0.01%
Public32.61%32.76%32.20%31.61%31.88%31.68%31.76%30.15%29.39%29.48%28.37%28.76%
Others0.35%0.34%0.34%0.34%0.34%0.34%0.34%0.34%0.34%0.34%0.34%0.34%
No. of Shareholders1,25,0691,69,6481,90,4172,25,0442,72,2822,75,0602,84,3472,48,0952,38,4042,31,9132,18,0942,26,844

Finolex Industries Ltd Shareholding Pattern Chart

No. of Finolex Industries Ltd Shareholders

Finolex Industries Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Small Cap Fund23,395,5692.13449.312,476,1762024-06-21844.83%
HDFC Small Cap Fund - Regular Plan12,191,8171.01234.142,476,1762024-06-21392.36%
HSBC Small Cap Fund - Regular Plan9,320,7001.551792,476,1762024-06-21276.42%
DSP Small Cap Fund5,057,2630.8297.122,476,1762024-06-21104.24%
Franklin India Smaller Companies Fund4,618,8640.9288.712,476,1762024-06-2186.53%
SBI Conservative Hybrid Fund2,476,1760.5347.562,476,1762024-06-210%
SBI Conservative Hybrid Fund - Div (Annual)2,476,1760.5347.562,476,1762024-06-210%
SBI Conservative Hybrid Fund - Div (Monthly)2,476,1760.5347.562,476,1762024-06-210%
SBI Equity Savings Fund1,395,1070.8726.792,476,1762024-06-21-43.66%
SBI Large & Midcap Fund1,388,7640.1726.672,476,1762024-06-21-43.91%

Finolex Industries Ltd ROCE Trend

Finolex Industries Ltd EPS Trend

Finolex Industries Ltd Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue2.002.002.0010.0010.00
Basic EPS (Rs.)7.664.0416.9411.8926.81
Diluted EPS (Rs.)7.664.0416.9411.8926.81
Cash EPS (Rs.)8.925.1018.3164.4130.69
Book Value[Excl.RevalReserv]/Share (Rs.)91.1279.2963.30252.94160.03
Book Value[Incl.RevalReserv]/Share (Rs.)91.1279.2963.30252.94160.03
Revenue From Operations / Share (Rs.)69.8271.1174.90279.03240.49
PBDIT / Share (Rs.)12.376.6917.8285.4838.46
PBIT / Share (Rs.)10.495.2416.4879.2232.52
PBT / Share (Rs.)9.904.8022.3178.6431.61
Net Profit / Share (Rs.)7.043.6616.9758.1524.75
NP After MI And SOA / Share (Rs.)7.664.0516.9459.4526.80
PBDIT Margin (%)17.719.4023.7930.6315.99
PBIT Margin (%)15.027.3722.0028.3913.52
PBT Margin (%)14.186.7529.7928.1813.14
Net Profit Margin (%)10.085.1422.6520.8310.28
NP After MI And SOA Margin (%)10.965.7022.6221.3011.14
Return on Networth / Equity (%)8.405.1126.7623.5016.74
Return on Capital Employeed (%)10.896.2924.6629.2718.34
Return On Assets (%)6.713.9819.6617.1811.50
Total Debt / Equity (X)0.060.100.070.060.14
Asset Turnover Ratio (%)0.640.760.970.970.97
Current Ratio (X)2.902.552.542.121.77
Quick Ratio (X)2.241.951.691.140.53
Inventory Turnover Ratio (X)3.923.442.902.182.76
Dividend Payout Ratio (NP) (%)0.0098.9923.600.0074.61
Dividend Payout Ratio (CP) (%)0.0073.0121.870.0061.06
Earning Retention Ratio (%)0.001.0176.400.0025.39
Cash Earning Retention Ratio (%)0.0026.9978.130.0038.94
Interest Coverage Ratio (X)20.9815.1878.49145.9242.32
Interest Coverage Ratio (Post Tax) (X)12.949.3249.03100.2628.22
Enterprise Value (Cr.)15601.9011024.149802.337772.765038.05
EV / Net Operating Revenue (X)3.612.512.112.241.69
EV / EBITDA (X)20.4026.668.867.3310.55
MarketCap / Net Operating Revenue (X)3.532.402.072.281.62
Retention Ratios (%)0.001.0076.390.0025.38
Price / BV (X)2.712.152.452.522.44
Price / Net Operating Revenue (X)3.532.402.072.281.62
EarningsYield0.030.020.100.090.06

Finolex Industries Ltd Profitability Ratios (%)

Finolex Industries Ltd Liquidity Ratios

Finolex Industries Ltd Liquidity Ratios (%)

Finolex Industries Ltd Interest Coverage Ratios (%)

Finolex Industries Ltd Valuation Ratios

Fair Value

Fair Value: 357.57

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 7.38% compared to the current price 333

Intrinsic Value: 379.29

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 13.90% compared to the current price ₹333

Last 5 Year EPS CAGR: 6.07%

*Investments are subject to market risks

Strength and Weakness of Finolex Industries Ltd Stock

StrengthWeakness
  1. The stock has a high average ROCE of 19.58%, which is a positive sign.
  2. The company has higher reserves (2,285.85 cr) compared to borrowings (433.77 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (2.62 cr) and profit (363.54 cr) over the years.
  1. The stock has a high average Working Capital Days of 44.25, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 83.67, which may not be favorable.

FAQ

What is the latest fair value of Finolex Industries Ltd?

The latest fair value of Finolex Industries Ltd is ₹357.57.

What is the Market Cap of Finolex Industries Ltd?

The Market Cap of Finolex Industries Ltd is 20,649 Cr..

What is the current Stock Price of Finolex Industries Ltd as on 23 June 2024?

The current stock price of Finolex Industries Ltd as on 23 June 2024 is ₹333.

What is the High / Low of Finolex Industries Ltd stocks in FY 2024?

In FY 2024, the High / Low of Finolex Industries Ltd stocks is 356/170.

What is the Stock P/E of Finolex Industries Ltd?

The Stock P/E of Finolex Industries Ltd is 45.4.

What is the Book Value of Finolex Industries Ltd?

The Book Value of Finolex Industries Ltd is 89.2.

What is the Dividend Yield of Finolex Industries Ltd?

The Dividend Yield of Finolex Industries Ltd is 0.45 %.

What is the ROCE of Finolex Industries Ltd?

The ROCE of Finolex Industries Ltd is 11.5 %.

What is the ROE of Finolex Industries Ltd?

The ROE of Finolex Industries Ltd is 8.79 %.

What is the Face Value of Finolex Industries Ltd?

The Face Value of Finolex Industries Ltd is 2.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Finolex Industries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE