Finolex Industries Limited (FINPIPE) AI Stock Analysis

• Market Cap: ₹108.27B
• Dividend Yield: 1.19%
• Average Volume (3M): 48.12K
• Price to Earnings (P/E): 23.2
• Beta (1Y): 1.15
• Revenue Growth: -3.53%
• EPS Growth: -40.09%
• Country: IN
• Employees: 1,510
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Construction
• EPS (TTM): 1.90
• Shares Outstanding: 620,476,900
• 10 Day Avg. Volume: 43,104
• 30 Day Avg. Volume: 48,120
• PEG Ratio: 0.20
• Price to Book (P/B): 1.80
• Price to Sales (P/S): 2.65
• P/FCF Ratio: 41.12
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹188.00
• Price Target Upside: 5.32% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): 8.05
• Revenue Forecast (FY): ₹41.24B

• Rating: 61 Neutral
• Price Target: ₹188.00 ▲(5.32% Upside)
• Action: Reiterated Date: 11/30/25
• Date: Action: Reiterated 11/30/25

Finolex Industries Limited's overall stock score reflects its strong financial performance and stable balance sheet, which are offset by bearish technical indicators and moderate valuation. The company's ability to manage costs effectively is a significant strength, but challenges in revenue growth and market momentum present risks. The absence of recent earnings call insights or notable corporate events limits additional context for future performance.

Positive Factors

Strong Financial Health

The company's stable balance sheet and strong profitability metrics indicate robust financial health, providing a solid foundation for long-term growth and stability.

Efficient Cost Management

Efficient cost management and operational efficiency enhance profitability and competitiveness, supporting sustainable growth in the long term.

Low Leverage Risk

Low leverage risk due to prudent debt management ensures financial flexibility and reduces vulnerability to economic downturns, supporting long-term resilience.

Negative Factors

Volatile Revenue Growth

Volatile revenue growth can hinder long-term planning and investment, potentially impacting the company's ability to sustain growth and profitability.

Moderate Free Cash Flow Growth

Moderate free cash flow growth could constrain the company's ability to invest in new opportunities and expand operations, affecting long-term growth potential.

Decline in Revenue

A decline in revenue can impact future profitability and market position, challenging the company's ability to maintain its competitive edge.

Finolex Industries Limited Business Overview & Revenue Model

Company Description

Finolex Industries Limited manufactures and sells polyvinyl chloride (PVC) pipes and fittings, and PVC resins in India. It operates in two segments, PVC Resin and PVC Pipes and Fittings. The company offers agriculture pipes and fittings; column pipes; casing pipes; solvent cement and lubricants; ASTM plumbing pipes and fittings; chlorinated PVC pipes and fittings; SWR pipes and fittings; sewerage pipes; and solvent cement lubricant and primer. It distributes its products through dealers and retail outlets. Finolex Industries Limited was founded in 1956 and is headquartered in Pune, India.

How the Company Makes Money

Finolex Industries generates revenue primarily through the production and sale of PVC pipes and fittings, which are essential for various applications including agriculture, construction, and infrastructure development. The company benefits from a diversified revenue model, with significant contributions from its core segments such as agricultural pipes, plumbing pipes, and industrial products. In addition, Finolex has established strategic partnerships and collaborations with distributors and retailers, enhancing its market reach and customer base. Factors contributing to its earnings include strong brand recognition, a wide distribution network, and a focus on quality and innovation, which helps maintain customer loyalty and attract new clients.

Finolex Industries Limited Financial Statement Overview

Summary

Finolex Industries Limited demonstrates strong financial health, with a stable balance sheet and solid profitability metrics. The company shows efficient cost management and operational efficiency, though revenue growth has been volatile. Continued focus on improving revenue and cash flow growth will be vital for long-term success.

Income Statement

Finolex Industries Limited shows a strong gross profit margin and consistent EBIT margin, indicating efficient cost management and operational efficiency. Revenue growth has been volatile, with a decline in 2025 compared to previous years, which could impact future profitability. The net profit margin improved significantly in 2025, suggesting better net income management.

Balance Sheet

The company has a robust equity position with a high equity ratio, indicating financial stability and low leverage risk. The debt-to-equity ratio is low, reflecting prudent debt management. Return on equity is strong, highlighting effective utilization of equity to generate profits.

Cash Flow

Operating cash flow is consistently positive, supporting the company's ability to fund operations. However, free cash flow growth is moderate, which may limit aggressive expansion. The operating cash flow to net income ratio is healthy, suggesting good cash conversion efficiency.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	40.75B	41.42B	43.17B	43.97B	46.47B	34.62B
Gross Profit	14.53B	14.66B	15.81B	12.61B	17.49B	15.09B
EBITDA	5.48B	4.70B	5.81B	3.25B	10.28B	9.90B
Net Income	4.80B	8.00B	4.74B	2.51B	10.51B	7.38B
Balance Sheet
Total Assets	67.77B	73.82B	70.58B	62.85B	53.45B	42.94B
Cash, Cash Equivalents and Short-Term Investments	19.71B	22.69B	19.08B	18.00B	16.03B	8.15B
Total Debt	212.20M	2.37B	3.94B	5.41B	2.78B	2.04B
Total Liabilities	8.63B	12.85B	14.24B	13.82B	14.18B	11.55B
Stockholders Equity	59.13B	60.97B	56.34B	49.03B	39.28B	31.39B
Cash Flow
Free Cash Flow	-137.90M	2.67B	2.67B	1.33B	5.38B	8.76B
Operating Cash Flow	116.30M	3.83B	3.53B	3.02B	6.22B	9.41B
Investing Cash Flow	4.07B	83.40M	-829.70M	-2.88B	-4.40B	-8.77B
Financing Cash Flow	-4.41B	-3.49B	-2.77B	-289.40M	-1.90B	-903.00M

Finolex Industries Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 178.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:FINPIPE, the sentiment is Negative. The current price of 178.5 is below the 20-day moving average (MA) of 181.68, below the 50-day MA of 179.89, and below the 200-day MA of 192.02, indicating a bearish trend. The MACD of -2.09 indicates Positive momentum. The RSI at 34.47 is Neutral, neither overbought nor oversold. The STOCH value of 11.90 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:FINPIPE.

Finolex Industries Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TIMETECHNO	69 Neutral	₹80.17B	17.09	―	0.67%	7.53%	16.26%
GSFC	68 Neutral	₹61.41B	11.49	―	2.80%	15.25%	26.49%
PRIVISCL	64 Neutral	₹114.68B	35.11	―	0.15%	24.25%	96.45%
RALLIS	63 Neutral	₹46.29B	700.00	―	0.92%	0.91%	18.12%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
FINPIPE	61 Neutral	₹108.27B	23.17	―	1.19%	-3.53%	-40.09%
GRAPHITE	54 Neutral	₹118.61B	46.09	―	1.93%	-7.12%	-48.28%

Finolex Industries Limited Corporate Events

Finolex Industries Board Approves Q3 FY26 Unaudited Results After Clean Auditor Review

Finolex Industries Limited announced that its Board of Directors has approved and taken on record the unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025, in compliance with SEBI’s listing and disclosure regulations. The limited review of these interim results by statutory auditors Walker Chandiok & Co LLP concluded that the financial statements comply with applicable accounting standards and SEBI disclosure requirements, with no material misstatements noted, reinforcing the company’s financial reporting credibility for investors and other stakeholders.

Finolex Industries Board Clears Q3 FY26 Unaudited Results After Auditor Review

Finolex Industries Limited’s board of directors approved and recorded the company’s unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025 at its meeting held on 31 January 2026. The financial statements, reviewed by statutory auditors Walker Chandiok & Co LLP in accordance with SEBI’s listing regulations and Indian accounting standards, were also uploaded on the company’s website, with the auditors reporting no material misstatements, providing investors and other stakeholders with regulatory-compliant and independently reviewed interim financial information.

Finolex Industries Publishes Q3 FY26 Unaudited Financial Investor Presentation

Finolex Industries Limited has released an investor presentation detailing its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, in compliance with SEBI’s listing regulations. The presentation, now available on the company’s website, provides stakeholders with updated financial disclosures that may influence investor assessment of the company’s recent performance and operational trajectory ahead of final audited results.