Finolex Industries Limited (IN:FINPIPE)
:FINPIPE
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Finolex Industries Limited
(FINPIPE)
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Rating:69Neutral
Price Target:
₹185.00
▲(3.64% Upside)
Action:Downgraded
Date:05/28/26
The score is driven primarily by solid financial resilience from a conservative, low-leverage balance sheet, partially offset by deteriorating and volatile cash generation and uneven earnings/revenue trends. Technicals are supportive due to an uptrend but tempered by near-overbought momentum signals, while valuation is fair with a moderate P/E and modest yield.
Positive Factors
Low leverage / strong balance sheet
Consistently low debt and a steadily expanding equity base provide durable financial flexibility. This conservative capital structure supports resilience through construction-cycle downturns, funds working capital or selective capex without heavy refinancing, and preserves strategic optionality over months to years.
Negative Factors
Weak operating cash generation
A sharp decline in operating cash flow and poor cash conversion versus reported profits constrain internal funding for capex, deleveraging or special distributions. Persistent weak OCF increases reliance on working-capital management and reduces the margin for error during slower demand periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
Consistently low debt and a steadily expanding equity base provide durable financial flexibility. This conservative capital structure supports resilience through construction-cycle downturns, funds working capital or selective capex without heavy refinancing, and preserves strategic optionality over months to years.
Read all positive factors
Finolex Industries Limited (FINPIPE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹107.28B
Dividend Yield1.19%
Average Volume (3M)48.12K
Price to Earnings (P/E)17.8
Beta (1Y)0.98
Revenue Growth-0.69%
EPS Growth-25.08%
CountryIN
Employees1,510
SectorBasic Materials
Sector Strength58
IndustryConstruction
Share Statistics
EPS (TTM)7.77
Shares Outstanding620,476,900
10 Day Avg. Volume43,104
30 Day Avg. Volume48,120
Financial Highlights & Ratios
PEG Ratio-0.62
Price to Book (P/B)1.49
Price to Sales (P/S)2.25
P/FCF Ratio56.53
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)9.19
Revenue Forecast (FY)₹45.74B
Finolex Industries Limited Business Overview & Revenue Model
Company Description
Finolex Industries Limited, an Indian enterprise, specializes in the production and sale of polyvinyl chloride (PVC) resins, as well as PVC pipes and their associated fittings. The company operates through two distinct divisions: PVC Resin manufac...
How the Company Makes Money
Finolex Industries makes money mainly by manufacturing and selling PVC pipes and fittings. Revenue is generated from volumes sold across multiple end-use segments (notably agriculture/irrigation, building/construction plumbing and drainage, and re...
Finolex Industries Limited Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
86
Very Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 40.75B | 41.13B | 41.42B | 43.17B | 43.97B | 46.47B |
| Gross Profit | 14.53B | 13.68B | 14.66B | 15.81B | 12.61B | 17.49B |
| EBITDA | 5.48B | 9.32B | 4.70B | 5.81B | 3.25B | 10.28B |
| Net Income | 4.80B | 5.99B | 8.00B | 4.74B | 2.51B | 10.51B |
Balance Sheet | ||||||
| Total Assets | 67.77B | 75.96B | 73.82B | 70.58B | 62.85B | 53.45B |
| Cash, Cash Equivalents and Short-Term Investments | 19.71B | 24.93B | 22.69B | 19.08B | 18.00B | 16.03B |
| Total Debt | 212.20M | 4.46B | 2.37B | 3.94B | 5.41B | 2.78B |
| Total Liabilities | 8.63B | 13.53B | 12.85B | 14.24B | 13.82B | 14.18B |
| Stockholders Equity | 59.13B | 62.15B | 60.97B | 56.34B | 49.03B | 39.28B |
Cash Flow | ||||||
| Free Cash Flow | -137.90M | 1.64B | 2.67B | 2.67B | 1.33B | 5.38B |
| Operating Cash Flow | 116.30M | 2.29B | 3.83B | 3.53B | 3.02B | 6.22B |
| Investing Cash Flow | 4.07B | -2.12B | 83.40M | -829.70M | -2.88B | -4.40B |
| Financing Cash Flow | -4.41B | -302.20M | -3.49B | -2.77B | -289.40M | -1.90B |
Finolex Industries Limited Technical Analysis
Neutral
178.50
Price Trends
171.30
Positive
175.16
Negative
182.62
Negative
Market Momentum
-0.31
Positive
49.48
Neutral
20.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:FINPIPE, the sentiment is Neutral. The current price of 178.5 is above the 20-day moving average (MA) of 173.37, above the 50-day MA of 171.30, and below the 200-day MA of 182.62, indicating a neutral trend. The MACD of -0.31 indicates Positive momentum. The RSI at 49.48 is Neutral, neither overbought nor oversold. The STOCH value of 20.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:FINPIPE.
Finolex Industries Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹107.28B | 17.84 | ― | 1.19% | -0.69% | -25.08% | |
69 Neutral | ₹134.41B | 41.07 | ― | 0.15% | 22.01% | 75.16% | |
66 Neutral | ₹125.91B | 72.13 | ― | 1.93% | 12.58% | -62.07% | |
66 Neutral | ₹65.51B | 9.79 | ― | 2.80% | 14.81% | 13.77% | |
65 Neutral | ₹83.99B | 17.85 | ― | 0.67% | 11.88% | 17.67% | |
64 Neutral | ₹44.53B | 23.61 | ― | 0.92% | 8.79% | 47.20% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
IN:FINPIPE
Finolex Industries Limited
172.90
-46.17
-21.08%
IN:GRAPHITE
Graphite India Limited
644.45
116.63
22.10%
IN:GSFC
Gujarat State Fertilizers & Chemicals Limited
164.40
-38.80
-19.09%
IN:PRIVISCL
Privi Speciality Chemicals Limited
3,440.95
996.09
40.74%
IN:RALLIS
Rallis India Limited
229.00
-84.98
-27.06%
IN:TIMETECHNO
Time Technoplast Limited
170.15
-47.35
-21.77%
Finolex Industries Limited Corporate Events
Finolex Industries Releases Investor Presentation on FY 2025-26 Results
May 26, 2026
Finolex Industries Limited has released an investor presentation detailing its audited standalone and consolidated financial results for the quarter and full year ended 31 March 2026. The presentation, made available to stock exchanges and on the ...
CRISIL Reaffirms Finolex Industries’ AA+/A1+ Ratings on Rs.1,916 Crore Bank Facilities
May 11, 2026
Finolex Industries Limited announced that CRISIL Ratings has reaffirmed its long-term bank loan rating at CRISIL AA+/Stable and its short-term rating at CRISIL A1+ for total bank facilities of Rs.1916.25 crore. These reaffirmed ratings indicate co...
Finolex Industries Closes Trading Window Ahead of FY26 Results
Mar 25, 2026
Finolex Industries Limited has announced the closure of its trading window for designated persons and their immediate relatives in accordance with SEBI’s Prohibition of Insider Trading Regulations and the company’s internal code of con...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.