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    Finolex Industries Limited

    India's leading PVC pipes & fittings maker, backward-integrated into captive PVC resin production.

    Capital Goods
    Industrials
    View FINPIPE earnings calls
    ₹164.66
    -4.87% from avg

    Overview

    Price

    ₹164.66

    Market Cap

    ₹10.2k Cr

    Sector

    Capital Goods

    Industrials

    Rank

    1

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital124124124124124124124124
    Reserves1.8k2.9k3.7k4.7k5.4k5.9k5.7k6.0k
    Borrowings28320427854139423721446
    Other Liabilities6039301.1k8179961.0k798885
    Total Liabilities2.8k4.2k5.3k6.2k6.9k7.2k6.6k7.4k
    AssetsFixed Assets1.0k1.0k9931.1k1.1k1.0k1.0k1.0k
    CWIP7894419734128
    Investments5801.6k2.6k3.9k4.5k4.8k4.2k4.8k
    Other Assets1.2k1.6k1.6k1.2k1.4k1.4k1.3k1.6k
    Total Assets2.8k4.2k5.3k6.2k6.9k7.2k6.6k7.4k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating391106941622308353383192
    Cash from Investing-22849-877-440-294-838-156
    Cash from Financing-163-105-90-190-29-277-349-49
    SummaryCapital Expenditure
    Free Cash Flow28946876918140267268133
    FCF Margin

    Valuation

    Assumptions

    Current — FINPIPE
    Price
    ₹165
    EPS (TTM)
    ₹9.35
    PE (TTM)
    17.6
    Profit growth
    34.9%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (33.6×) and current (17.6×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹165
    vs
    Fair value · 15% return
    ₹361
    119%Undervalued

    At 34.9% growth and a 18× exit, ₹165 only delivers your return if you pay ₹361. The price is currently baking in 17% growth.

    EPS grows 34.9%/yr for 5 years, then fades to 6% over 2, exits at 18×.

    YearGrowthEPS (₹)
    FY2734.9%12.61
    FY2834.9%17.02
    FY2934.9%22.95
    FY3034.9%30.96
    FY3134.9%41.77
    FY3220.4% ·fade50.31
    FY336.0% ·fade53.33

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

    Learn to analyse Finolex Industries Limited

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