FINOLEX INDUSTRIES LTD

Finolex Industries Limited (FIL) is a leading manufacturer of PVC Resin and the largest producer of PVC Pipes & Fittings in India.
The Company offers the latest range of superior quality and durable PVC-U pipes and fittings used in agriculture, construction
and industrial operations. Its product portfolio consists of two major divisions:
PVC ResinPVC Pipes & Fittings [1]

INR(Crs)
Key Financial Metrics Mar, 19 Mar, 20 Mar, 21 Mar, 22 Mar, 23 Share Price - 5Y
Total Sales 3091.32 2984.51 3462.27 4647.32 4397.05
300
Sales Growth (Y-O-Y) 12.91% -3.46% 16.01% 34.23% -5.39%
250
Gross Profit 731.45 525.29 1,231.32 1,443.79 1,019.96
GMP(%) 23.66% 17.60% 35.56% 31.07% 23.20% 200
EBITDA Margins(%) 19.54% 15.01% 28.60% 22.06% 6.66% 150
EBIT Margins(%) 17.28% 12.53% 26.34% 20.27% 4.64%
100
Net Profit Margins(%) 11.32% 10.85% 21.03% 22.66% 5.39%
Earning Per Share 5.64 5.22 11.73 16.98 3.81 50
EPS Growth (y-o-y) 17.26% -7.45% 124.71% 44.76% -77.56% 0
Dividend Per Share 1.97 1.98 3.99 4.08 1.49

2018
2019
2019
2019
2020
2020
2020
2021
2021
2021
2022
2022
2023
2023
DPS Growth(y-o-y) -2.29% 0.49% 101.06% 2.18% -63.54%

Key Financial Ratio Mar, 19 Mar, 20 Mar, 21 Mar, 22 Mar, 23 Volume - 5

EV/EBITDA 10.15X 11.30X 7.84X 9.55X 37.77X 40m
EV/Sales 1.98X 1.70X 2.24X 2.11X 2.52X 20m
Price To Book Value 2.40X 2.53X 2.57X 2.48X 2.19X 0m
Return On Equity(%) 14% 17% 24% 27% 5%

2018
2019
2019
2019
2020
2020
2021
2021
2022
2022
2022
2023
Return On Capital Employed(%) 20% 17% 36% 38% 7%

Top 10 Shareholders NO.Of Shares Holding Market Value

(In Crs) % (In Crs)

FINOLEX CABLES LIMITED 20.10 32.39 4541.76 Promoters

+
ORBIT ELECTRICALS PRIVATE LIMITED 11.67 18.8 2636.39 0.34%
SBI CONSERVATIVE HYBRID FUND 2.75 4.44 622.32 29.48% FIIs +
ANUJ ANANTRAI SHETH 2.02 3.26 456.97
52.47%
HDFC SMALL CAP FUND 1.41 2.27 317.81 0.01% DIIs +
11.87%
HSBC SMALL CAP FUND 0.93 1.5 210.65 5.81%
DSP SMALL CAP FUND 0.84 1.35 189.74 Governmen
HITEN ANANTRAI SHETH 0.75 1.21 169.50 t+
VIJAY KISHANDAS CHHABRIA 0.22 0.35 48.62