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Last Updated: April 2, 2026, 2:55 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500940 | NSE: FINPIPE

Finolex Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹105.76Overvalued by 33.48%vs CMP ₹159.00

P/E (20.7) × ROE (6.8%) × BV (₹93.30) × DY (1.26%)

₹100.16Overvalued by 37.01%vs CMP ₹159.00
MoS: -58.7% (Negative)Confidence: 63/100 (Moderate)Models: 1 Under, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹90.2222%Over (-43.3%)
Graham NumberEarnings₹126.8916%Over (-20.2%)
Earnings PowerEarnings₹63.1011%Over (-60.3%)
DCFCash Flow₹75.2913%Over (-52.6%)
Net Asset ValueAssets₹93.287%Over (-41.3%)
EV/EBITDAEnterprise₹74.809%Over (-53%)
Earnings YieldEarnings₹76.707%Over (-51.8%)
ROCE CapitalReturns₹228.369%Under (+43.6%)
Revenue MultipleRevenue₹66.735%Over (-58%)
Consensus (9 models)₹100.16100%Overvalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -14.7%

*Investments are subject to market risks

Investment Snapshot

52
Finolex Industries Ltd scores 52/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health70/100 · Strong
ROCE 8.8% AverageROE 6.8% AverageD/E 0.06 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 52.5% Stable
Earnings Quality50/100 · Moderate
OPM stable around 13% Steady
Quarterly Momentum35/100 · Weak
Revenue (4Q): -6% YoY DecliningProfit (4Q): -40% YoY DecliningOPM: 14.0% (up 6.0% YoY) Margin expansion
Industry Rank40/100 · Moderate
P/E 20.7 vs industry 20.7 In-lineROCE 8.8% vs industry 8.8% Average3Y sales CAGR: -4% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:55 am

Market Cap 9,869 Cr.
Current Price 159
Intrinsic Value₹100.16
High / Low 238/144
Stock P/E20.7
Book Value 93.3
Dividend Yield1.26 %
ROCE8.77 %
ROE6.76 %
Face Value 2.00
PEG Ratio-1.41

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Finolex Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Finolex Industries Ltd 9,869 Cr. 159 238/14420.7 93.31.26 %8.77 %6.76 % 2.00
Industry Average9,869.00 Cr159.0020.7093.301.26%8.77%6.76%2.00

All Competitor Stocks of Finolex Industries Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,1251,1411,1798831,0201,2351,1408281,0011,1721,043859898
Expenses 1,0339241,0277809001,0269348189181,001950729775
Operating Profit 92217152103120209207118317194130123
OPM % 8%19%13%12%12%17%18%1%8%15%9%15%14%
Other Income 282940633544472844865656052
Interest 569128777106643
Depreciation 22243427282726262727272726
Profit before tax 922161491261202196466295203126158146
Tax % 22%27%26%25%26%26%22%16%25%26%23%25%25%
Net Profit 721581119489161505517115097119110
EPS in Rs 1.162.551.791.511.442.608.140.831.142.421.561.921.77

Last Updated: February 5, 2026, 11:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 2:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2,4532,4762,4822,6022,7383,0912,9853,4624,6474,3974,3174,1423,971
Expenses 2,0562,2642,0752,0392,2532,4872,5362,4723,6234,1053,7323,6663,453
Operating Profit 3972124075634846044489901,025293585476518
OPM % 16%9%16%22%18%20%15%29%22%7%14%12%13%
Other Income -27-2622425143072458121181665241
Interest 6670451510121171427363019
Depreciation 62595155617074788389116107107
Profit before tax 242813735174395363939771,3852976131,005633
Tax % 30%41%32%32%32%35%18%25%24%20%26%23%
Net Profit 170482543522993503247281,053237455778476
EPS in Rs 2.740.774.105.684.815.645.2211.7316.983.817.3412.547.67
Dividend Payout % 51%52%49%41%42%35%38%34%24%39%34%29%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-71.76%429.17%38.58%-15.06%17.06%-7.43%124.69%44.64%-77.49%91.98%70.99%
Change in YoY Net Profit Growth (%)0.00%500.93%-390.58%-53.64%32.11%-24.49%132.12%-80.05%-122.14%169.48%-20.99%

Finolex Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:5%
5 Years:7%
3 Years:-4%
TTM:-5%
Compounded Profit Growth
10 Years:21%
5 Years:4%
3 Years:-20%
TTM:-29%
Stock Price CAGR
10 Years:16%
5 Years:16%
3 Years:12%
1 Year:-29%
Return on Equity
10 Years:13%
5 Years:12%
3 Years:7%
Last Year:7%

Last Updated: September 5, 2025, 4:10 am

Balance Sheet

Last Updated: December 4, 2025, 1:15 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 124124124124124124124124124124124124124
Reserves 6666631,4462,1672,6402,4041,8062,9493,7404,7015,4145,8555,666
Borrowings 713637212941019028320427854139423721
Other Liabilities 4334355675705896556039301,1198179961,008798
Total Liabilities 1,9361,8592,3492,9553,4553,2732,8154,2075,2616,1826,9287,2236,609
Fixed Assets 9058688508558849511,0171,0029931,0551,0551,0081,015
CWIP 3210722909078944197341
Investments 2211808171,2221,5551,3035801,5922,6333,8504,4564,7514,239
Other Assets 7778016758569259291,2111,6041,6251,2341,3981,3911,314
Total Assets 1,9361,8592,3492,9553,4553,2732,8154,2075,2616,1826,9287,2236,609

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 245212569252338391106941622308353383
Cash from Investing Activity + 11018-7735-162-22849-877-440-294-838
Cash from Financing Activity + -344-239-494-282-175-163-105-90-190-29-277-349
Net Cash Flow 12-9-241-051-26-8-15-642
Free Cash Flow 17818253815716628946876918140267268
CFO/OP 75%119%156%76%95%94%49%116%93%128%85%122%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-316.00-425.00195.00469.00383.00514.00165.00786.00-277.00-248.00191.00239.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 67376991626253933
Inventory Days 1121131001281281201641761328199108
Days Payable 254055525255448460353961
Cash Conversion Cycle 93804883817412910898719880
Working Capital Days -14-60283233392217-61320
ROCE %23%11%24%25%17%21%16%36%27%6%10%9%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 52.47%52.47%52.47%52.47%52.47%52.47%52.47%52.47%52.47%52.47%52.47%52.47%
FIIs 5.51%5.81%6.66%6.45%6.41%6.90%6.40%6.64%6.48%6.03%5.93%5.87%
DIIs 12.25%11.87%12.14%11.95%10.95%11.95%12.07%12.05%11.70%11.36%12.11%12.19%
Government 0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%
Public 29.39%29.48%28.37%28.76%29.82%28.32%28.69%28.47%28.99%29.78%29.13%29.11%
Others 0.34%0.34%0.34%0.34%0.34%0.35%0.35%0.35%0.35%0.35%0.35%0.35%
No. of Shareholders 2,38,4042,31,9132,18,0942,26,8442,13,6792,11,5072,26,7582,38,7852,51,0872,50,0512,45,5052,46,153

Shareholding Pattern Chart

No. of Shareholders

Finolex Industries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Small Cap Fund 34,595,699 1.77 610.3734,595,6992025-04-22 14:12:250%
Franklin India Small Cap Fund 7,057,734 0.98 124.52N/AN/AN/A
HSBC Small Cap Fund 5,270,722 0.62 92.995,734,2572026-01-26 03:05:13-8.08%
ICICI Prudential Smallcap Fund 4,124,378 0.9 72.773,553,6012026-02-22 08:33:0616.06%
Bandhan Value Fund 3,350,839 0.59 59.123,100,0002026-02-23 07:56:178.09%
SBI Conservative Hybrid Fund 2,476,176 0.47 46.732,476,1762025-04-22 15:56:580%
HDFC Retirement Savings Fund - Equity 1,650,000 0.42 29.11N/AN/AN/A
Bandhan Multi Cap Fund 1,500,000 0.94 26.461,299,0002025-12-15 01:03:4015.47%
Templeton India Value Fund 1,100,000 0.86 19.41N/AN/AN/A
ICICI Prudential Childrens Fund 1,000,000 1.28 17.64N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.0010.00
Basic EPS (Rs.) 12.947.664.0416.9411.89
Diluted EPS (Rs.) 12.947.664.0416.9411.89
Cash EPS (Rs.) 14.018.925.1018.3164.41
Book Value[Excl.RevalReserv]/Share (Rs.) 98.6091.1279.2963.30252.94
Book Value[Incl.RevalReserv]/Share (Rs.) 98.6091.1279.2963.30252.94
Revenue From Operations / Share (Rs.) 66.9869.8271.1174.90279.03
PBDIT / Share (Rs.) 11.6812.376.6917.8285.48
PBIT / Share (Rs.) 9.9610.495.2416.4879.22
PBT / Share (Rs.) 16.229.904.8022.3178.64
Net Profit / Share (Rs.) 12.297.043.6616.9758.15
NP After MI And SOA / Share (Rs.) 12.947.664.0516.9459.45
PBDIT Margin (%) 17.4417.719.4023.7930.63
PBIT Margin (%) 14.8615.027.3722.0028.39
PBT Margin (%) 24.2114.186.7529.7928.18
Net Profit Margin (%) 18.3410.085.1422.6520.83
NP After MI And SOA Margin (%) 19.3110.965.7022.6221.30
Return on Networth / Equity (%) 13.128.405.1126.7623.50
Return on Capital Employeed (%) 9.6110.896.2924.6629.27
Return On Assets (%) 10.836.713.9819.6617.18
Total Debt / Equity (X) 0.030.060.100.070.06
Asset Turnover Ratio (%) 0.570.640.750.970.97
Current Ratio (X) 3.562.902.552.542.12
Quick Ratio (X) 2.752.241.951.691.14
Inventory Turnover Ratio (X) 5.483.923.442.902.18
Dividend Payout Ratio (NP) (%) 19.3219.5898.9923.600.00
Dividend Payout Ratio (CP) (%) 17.0515.7373.0121.870.00
Earning Retention Ratio (%) 80.6880.421.0176.400.00
Cash Earning Retention Ratio (%) 82.9584.2726.9978.130.00
Interest Coverage Ratio (X) 24.3720.9815.1878.49145.92
Interest Coverage Ratio (Post Tax) (X) 12.5712.949.3249.03100.26
Enterprise Value (Cr.) 11222.9315601.9011024.149802.337772.76
EV / Net Operating Revenue (X) 2.713.612.512.112.24
EV / EBITDA (X) 15.5320.4026.668.867.33
MarketCap / Net Operating Revenue (X) 2.693.532.402.072.28
Retention Ratios (%) 80.6780.411.0076.390.00
Price / BV (X) 1.832.712.152.452.52
Price / Net Operating Revenue (X) 2.693.532.402.072.28
EarningsYield 0.070.030.020.100.09

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

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 other plastics products. Company's Total Operating Revenue is Rs. 4141.97 Cr. and Equity Capital is Rs. 123.67 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Plastics - Pipes & FittingsGat No. 399, Village Urse, Pune District Maharashtra 410506Contact not found
Management
NamePosition Held
Mr. Prakash P ChhabriaExecutive Chairman
Mr. Saurabh S DhanorkarManaging Director
Mr. Saumya ChakrabartiDirector - Technical
Mrs. Ritu P ChhabriaNon Exe.Non Ind.Director
Mrs. Kanchan U ChitaleIndependent Director
Mr. Debabrata SarkarIndependent Director
Mr. Vijay BhattIndependent Director
Mr. Aditya SapruIndependent Director
Mr. Munesh KhannaIndependent Director
Mr. Pradeep UdhasIndependent Director
Mr. Rajesh RathiIndependent Director

FAQ

What is the intrinsic value of Finolex Industries Ltd and is it undervalued?

As of 18 April 2026, Finolex Industries Ltd's intrinsic value is ₹100.16, which is 37.01% lower than the current market price of ₹159.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (6.76 %), book value (₹93.3), dividend yield (1.26 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Finolex Industries Ltd?

Finolex Industries Ltd is trading at ₹159.00 as of 18 April 2026, with a FY2026-2027 high of ₹238 and low of ₹144. The stock is currently near its 52-week low. Market cap stands at ₹9,869 Cr..

How does Finolex Industries Ltd's P/E ratio compare to its industry?

Finolex Industries Ltd has a P/E ratio of 20.7, which is below the industry average of 20.70. This is broadly in line with or below the industry average.

Is Finolex Industries Ltd financially healthy?

Key indicators for Finolex Industries Ltd: ROCE of 8.77 % is on the lower side compared to the industry average of 8.77%; ROE of 6.76 % is below ideal levels (industry average: 6.76%). Dividend yield is 1.26 %.

Is Finolex Industries Ltd profitable and how is the profit trend?

Finolex Industries Ltd reported a net profit of ₹778 Cr in Mar 2025 on revenue of ₹4,142 Cr. Compared to ₹1,053 Cr in Mar 2022, the net profit shows a declining trend.

Does Finolex Industries Ltd pay dividends?

Finolex Industries Ltd has a dividend yield of 1.26 % at the current price of ₹159.00. The company pays dividends, though the yield is modest.

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
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