āagman

Not investment advice. Data and computed figures, for information only.

Finolex Industries Ltd

NSE: FINPIPE
₹154.75
+₹3.15 (+2.08%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹9,379 Cr
CMP
₹154.75
52-wk High / Low
₹200 / 148
P/E
15.2
P/B
1.5
Book Value
₹100.0
Div Yield
1.32%
ROCE
12.0%
ROE
8.6%
Face Value
₹2
D/E
0.07

Price−19.8% over 1Y

āagman read

Computed by āagman
Derived from 11 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
4
/ 9
4 of 9 F-score tests passed
Graham Number
₹147
√(22.5 × EPS × book value per share)
ROIC
6.4%
vs 12.3% sector median
Cash flow to profit
0.32
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+309
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
6.9%
ROE × earnings retention ratio
ROE stability
7.5
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.08DII −1.42
Latest quarter vs the previous one
Cash-accrual divergence
5.4%
of assets
Low = accruals track cash flow
Strengths
+FII holding rose by 0.3pp over the last year
+PE of 15.2x is below the sector median of 43.6x
Watch-outs
−Latest ROCE of 12% trails the sector median of 19%
−Borrowings are up 110.4% since FY2016 (212 to 446)
−Price trades below its 200-day moving average (0.9x)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,1798831,0201,2351,1408281,0011,1721,0438598981,314884
Expenses1,0277809001,0269348189181,001950729775982777
Operating Profit152103120209207118317194130123332107
OPM %12.9%11.7%11.8%16.9%18.2%1.3%8.3%14.6%9.0%15.1%13.7%25.3%12.1%
Other Income487047544728566856968635376
Interest912877710664387
Depreciation34272827262627272727262627
Profit before tax15713313222964662112223131166157351148
Net Profit1159895165501419416598124116261115
EPS (₹)1.861.581.542.668.070.661.522.651.581.991.874.211.85

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 11 years + TTM
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,4822,6022,7383,0912,9853,4624,6474,3974,3174,1424,1133,954
Expenses2,0752,0392,2532,4872,5362,4723,6244,1053,7323,6663,4353,262
Operating Profit4075634846044489901,023293585476679692
OPM %16.4%21.6%17.7%19.5%15.0%28.6%22.0%6.7%13.6%11.5%16.5%17.5%
Other Income713240265587457145218703254260
Interest45151012117142736302122
Depreciation5155617074788389116107107108
Profit before tax3835254545484189921,3833216511,043805822
Net Profit2583553063673337381,051251474800599615
EPS (₹)4.155.724.945.925.3611.8916.944.047.6312.899.659.92

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital124124124124124124124124124124124—
Reserves1,4662,1912,6712,4521,8623,0153,8044,7795,5115,9736,091—
Borrowings2129410190283204278541394237446—
Other Liabilities5835886106666239511,1408411,0301,048935—
Total Liabilities2,3852,9973,5063,3322,8914,2945,3456,2857,0587,3827,596—
Fixed Assets8508558849511,0171,0029931,0551,0551,0081,017—
CWIP722909078944197328—
Investments8541,2641,6071,3626561,6792,7183,9524,5864,9104,969—
Other Assets6758569259291,2111,6041,6251,2341,3981,3911,581—
Total Assets2,3852,9973,5063,3322,8914,2945,3456,2857,0587,3827,596—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity569252338391106941622308353383192
Cash from Investing Activity−7735−162−22849−877−440−294−838−156
Cash from Financing Activity−494−282−175−163−105−90−190−29−277−349−49
Net Cash Flow−241051−26−8−15−642−13

Ratios

As of 31 Mar 2026
11 periods
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—25.017.021.017.036.027.07.011.09.012.0
ROE %——————————8.6
EPS (₹)4.155.724.945.925.3611.8916.944.047.6312.899.65
Book Value (₹)——————————100.0
Face Value (₹)——————————2
P/E——————————15.2
Div Yield %——————————1.32
NPM %10.113.511.011.811.020.820.65.510.516.513.7
OPM %16.022.018.020.015.029.022.07.014.012.016.0
D/E0.130.040.040.030.140.060.070.110.070.040.07
P/B——————————1.5

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+5.0%
5 years+4.0%
3 years−2.0%
TTM−2.0%
Compounded profit growth
10 years+9.0%
5 years−7.0%
3 years+33.0%
TTM+55.0%
Stock price CAGR
10 years+5.0%
5 years−8.0%
3 years−12.0%
Last year−22.0%
Return on equity
10 years11.0%
5 years8.0%
3 years7.0%
Last year9.0%

Shareholding pattern

As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters52.47%52.47%52.47%52.47%52.47%52.47%52.47%52.47%52.47%52.47%52.47%52.47%52.47%
FIIs4.02%4.02%4.02%4.36%2.34%2.31%2.73%5.81%5.51%6.41%6.48%5.86%5.78%
DIIs8.99%8.99%8.99%8.77%10.63%12.67%11.84%9.49%12.25%10.95%11.70%12.78%11.36%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.01%0.01%0.01%0.01%
Public34.17%34.17%34.17%34.05%34.21%32.20%32.61%31.88%29.39%29.82%28.99%28.53%30.04%
No. of shareholders1,22,7091,22,7091,22,7091,25,5801,24,9771,18,2931,25,0692,72,2822,38,4042,13,6792,51,0872,37,7192,43,708
Change since Jun 2023 (pp)
Promoters +0.00FIIs +1.76DIIs +2.37Public −4.13

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-Newspaper PublicationClosure of Trading WindowShareholder Meeting / Postal Ballot-Scrutinizers ReportShareholder Meeting / Postal Ballot-Outcome of AGM
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingJun 2026TranscriptJun 2026PPTFeb 2026TranscriptFeb 2026PPTNov 2025TranscriptNov 2025PPTNov 2025RecordingAug 2025TranscriptAug 2025PPTAug 2025Recording

Corporate actions

As of 11 Sep 2026
11 Sep 2026DIVIDENDDividend - Rs 2 Per Share & Special Dividend Re 0.75 Per Share—
4 Sep 2025DIVIDENDDividend - Rs 2 Per Share & Special Dividend - Rs 1.60 Per Share—
11 Sep 2024DIVIDENDAnnual General Meeting/Dividend - Rs 2.50 Per Share—
21 Aug 2023DIVIDENDAnnual General Meeting/Dividend - Rs 1.50 Per Share—
22 Aug 2022DIVIDENDAnnual General Meeting/Dividend - Rs 2 Per Share/Special Dividend - Rs 2 Per Share—
14 Sep 2021DIVIDEND Annual General Meeting/Dividend - Rs 2 Per Share/Special Dividend - Rs 2 Per Share—
15 Apr 2021SPLIT Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share10 : 2
9 Mar 2020DIVIDEND Interim Dividend - Rs 10 Per Share—
12 Sep 2019DIVIDEND Annual General Meeting/Dividend - Rs 10 Per Share—
19 Sep 2018DIVIDEND Annual General Meeting/Dividend- Rs 10 Per Share (Purpose Revised)—
27 Jul 2017DIVIDEND Dividend - Rs 11.50 Per Share—
28 Jul 2016DIVIDEND Annual General Meeting/ Dividend -Rs 10/- Per Share—
20 Aug 2015DIVIDEND Annual General Meeting/Dividend - Rs 2/- Per Share—
8 Sep 2014DIVIDENDAnnual General Meeting / Dividend - Rs 7/- Per Share—
29 Aug 2013DIVIDENDAnnual General Meeting / Dividend - Rs 5.50/- Per Share—
12 Jul 2012DIVIDENDAnnual General Meeting And Dividend - Rs.3/- Per Share—
29 Jun 2011DIVIDENDDividend-Rs.3/- Per Share—
29 Jul 2010DIVIDENDDividend-Rs.3/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman