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On 6 Nov 2026, Finolex Industries was priced at ₹141.95, or 14.5× trailing earnings, against an industry P/E of 24.8×, and the shares are 29% below their 52-week high. Sales fell 2.4% a year over 3 years while net profit grew 34%; its ROCE of 13% is the lowest among the 7 largest Building Products & Equipment peers. It carries very little debt, and its dividend yield is 1.4%. It is a small-cap company with a market cap of ₹8,777 Cr, ranked 7th of 64 Building Products & Equipment companies by market cap; the shares fell 23% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year
Open
₹144.15
Day high
₹144.15
Day low
₹139.10
Prev. close
₹144.78
Volume
7.5 L

Health check

2 good · 2 fair · 2 to check
  • ReturnsBehind

    −23.1% over a year, better than 1 of 7 peers.

  • Price tagCheaper

    P/E 14.5 vs industry 24.8.

  • GrowthSteady

    Sales −2.4%, profit +33.7% a year over 3 years.

  • ProfitabilityWeak

    ROCE 12.6% vs peer median 20.7%.

  • Balance sheetFair

    Practically debt-free, Piotroski 4 of 9.

  • Red flagsNone found

    No warning signs in the headline numbers.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Building Products & Equipment

63 listed peers. Screen the industry

Small cap

₹8,777 Cr, #7 of 64 in its industry by size.

Defensive

Beta 0.70 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Sep 2026: sales ₹4,189 Cr · profit ₹607 Cr
Market cap
₹8,777 Cr
Small cap
P/E
14.5
Industry 24.8
Price to book
1.16
Peers 7.95
Dividend yield
1.41%
ROE
9.0%
Peers 18.7%
ROCE
12.6%
Peers 20.7%
Debt to equity
0.02
Debt ₹142 Cr
EPS (TTM)
₹9.82
Face value ₹2
OPM (TTM)
16.4%
Net margin 14.5%
Sales growth
+27.4%
Latest quarter vs a year ago
Profit growth
−6.9%
Latest quarter vs a year ago
Price to sales
2.10
EV/EBITDA 9.7

Strengths and risks

Strengths

  • Practically debt-free.
  • Quarterly sales up 27.4% on a year ago.
  • P/E of 14.5 against an industry P/E of 24.8.
  • Positive operating cash flow in each of the last 4 years.

No obvious red flags in the headline numbers.

Derived automatically from reported figures. Not a recommendation.

About Finolex Industries

Finolex Industries Limited manufactures and sells polyvinyl chloride (PVC) pipes and fittings, and PVC resins in India. The company operates in two segments, PVC Resin and PVC Pipes and Fittings. It offers agriculture pipes and fittings; column pipes; casing pipes; and solvent cement and lubricants. The company also provides plumbing and sanitation pipes and fitting, such as ASTM pipes and fittings; CPVC pipes and fittings; SWR pipes and fittings;…

Headquarters
Pune
Employees
1,325
Sector
Industrials
ISIN
INE183A01024
Website
finolexpipes.com

Price range

52 weeks

₹137.00₹200.40

Today

₹139.10₹144.15
Avg volume (3M)
4.4 L
1-year return
minus 23.1%
From 52-week high
minus 29.2%

Analyst consensus

15 analysts
BuyMean target ₹188.60 plus 32.9%

Target range, with today’s price

Low ₹159.00High ₹265.00

Today’s price ₹141.95 is below the lowest analyst target.

Consensus from Yahoo Finance. Not a recommendation.

Peers · Building Products & Equipment

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
CPPLUSAditya Infotech4,131.40minus 0.94%50,68282.288.325.9%14.5%0.1022.7%plus 215.4%
SUPREMEINDSupreme Industries3,156.90minus 4.07%40,11835.525.019.6%14.4%0.016.8%minus 15.4%
ASTRALAstral1,253.60minus 9.68%33,67859.331.117.6%15.5%0.088.4%minus 5.4%
BLUESTARCOBlue Star1,575.00plus 0.19%32,38160.633.420.7%6.6%0.2215.7%minus 18.0%
GRINDWELLGrindwell Norton1,919.10minus 0.55%21,24846.034.121.0%19.2%0.026.6%plus 16.8%
KAJARIACERKajaria Ceramics1,180.70minus 2.08%18,55431.121.021.0%19.0%0.133.3%plus 3.3%
FINPIPEFinolex Industries141.95minus 1.95%8,77714.59.512.6%17.5%0.02−2.4%minus 23.1%
CERACera Sanitaryware4,798.70minus 0.06%6,18830.620.017.3%12.5%0.034.1%minus 23.7%
Median of 7 peers–−0.94%32,38146.031.120.7%14.5%0.086.8%−5.4%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrSep 25Dec 25Mar 26Jun 26Sep 26
8598981,3148841,094
729775982777970
130123332107124
15.2%13.7%25.3%12.1%11.4%
67.763.45375.657.3
4.337.86.93.3
27.426.526.227.528.2
166157351148150
25.6%26.0%25.6%22.5%23.4%
124116261115115
2.001.884.231.851.86

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
−2.4%
Profit CAGR 3Y
+33.7%
EPS CAGR 3Y
+33.9%
ROE
9.0%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
4,3614,2744,1094,061
–minus 2.0%minus 3.9%minus 1.2%
4,0363,6843,6303,347
325590479713
7.5%13.8%11.7%17.6%
25.185127103
11.526.52012.2
89.2116107107
71.8118564107
3216511,043805
22.0%27.2%23.3%25.6%
251474800599
–+88.9%+68.9%minus 25.1%
4.047.6612.949.69

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
124124124124
4,7795,5115,9736,091
541394237446
8411,0301,048935
6,2857,0587,3827,596
1,1111,0761,0931,052
56.722.289.437.6
2,0692,5432,5992,341
1,8001,9082,2412,464
1,2481,5081,3601,701
6,2857,0587,3827,596

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
308353383192
−294−838.3−156
−28.9−277−349−49.1
−15−6.442.2−13
−169−86.4−116−65
139267267127
−248−92.8−155−223

Shareholding pattern

Source: NSE filings
52.5%
promoters
  • Promoters52.47%
  • Public47.18%
  • Employee trusts0.35%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202652.47%47.18%0.00
30 Jun 202652.47%47.18%0.00
31 Mar 202652.47%47.18%0.00
31 Dec 202552.47%47.18%0.00
30 Sep 202552.47%47.18%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you