Finolex Industries Limited (FIL), established in 1958 and headquartered in Pune, Maharashtra, is one of India’s leading manufacturers of PVC-U pipes and fittings. With a robust distribution network of over 18,000 retailers and dealers across the country, FIL plays a significant role in the agriculture, infrastructure, and industrial sectors. Starting in the 1960s as a small-scale producer of PVC insulated electrical cables, the company diversified into manufacturing PVC resin in 1981, a key raw material for its pipes and fittings. Listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in 1994, Finolex Industries has cemented its position as a trusted market leader. Its product portfolio includes agriculture pipes for irrigation, plumbing systems for cold-water applications, industrial pipes for fluid transport, and high-quality PVC resin. With over six decades of experience, FIL remains committed to delivering durable, reliable, and sustainable solutions across its diverse markets.
Latest News on Finolex Industries
Saurabh Dhanorkar has been appointed as the new Managing Director of Finolex Industries Limited, effective November 21, 2024. This marks his return to the leadership role after having previously served as the company’s Managing Director until 2012. Dhanorkar, who has been associated with Finolex since 1983, succeeds Ajit Venkataraman, who stepped down from the position on November 20, 2024. With decades of experience and a deep understanding of the company’s operations, Dhanorkar’s reappointment is expected to drive Finolex Industries forward, reinforcing its position as a market leader in the PVC-U pipes and fittings industry.
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | |
| Promoters + | 52.47% | 52.47% | 52.47% | 52.47% | 52.47% |
| FIIs + | 6.66% | 6.45% | 6.41% | 6.90% | 6.40% |
| DIIs + | 12.14% | 11.95% | 10.95% | 11.95% | 12.07% |
| Government + | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
| Public + | 28.37% | 28.76% | 29.82% | 28.32% | 28.69% |
| Others + | 0.34% | 0.34% | 0.34% | 0.35% | 0.35% |
| No. of Shareholders | 2,18,094 | 2,26,844 | 2,13,679 | 2,11,507 | 2,26,758 |
The shareholding pattern of Finolex Industries has exhibited stability among its major stakeholders over the observed quarters, from September 2023 to September 2024. Promoters consistently held a commanding majority, maintaining their stake at 52.47% throughout the period. Foreign Institutional Investors (FIIs) displayed slight fluctuations, with their holdings peaking at 6.90% in June 2024 and settling at 6.40% by September 2024. Domestic Institutional Investors (DIIs) saw a minor decline from 12.14% in September 2023 to 10.95% in March 2024 but recovered to 12.07% by September 2024.
Public shareholding, which represents the individual and retail investors, also varied moderately, rising from 28.37% in September 2023 to a peak of 29.82% in March 2024 before stabilizing at 28.69% by the end of the period. The government and other entities maintained negligible changes, holding 0.01% and approximately 0.34%-0.35%, respectively. Notably, the total number of shareholders displayed a mix of increases and decreases, ranging from 2,18,094 in September 2023 to a high of 2,26,844 in December 2023, eventually settling at 2,26,758 in September 2024.
Below are the trading platforms that you can use to purchase Finolex Industries shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| December 2024 | 301.55 | 262.22 |
By December 2024, the maximum price for Finolex Industries is expected to reach ₹301.55, while the minimum price is projected to hover around ₹262.22.
| When | Maximum Price | Minimum Price |
| January 2025 | 304.57 | 234.28 |
| February 2025 | 307.65 | 236.65 |
| March 2025 | 314.11 | 241.62 |
| April 2025 | 311.00 | 239.23 |
| May 2025 | 301.94 | 232.26 |
| June 2025 | 315.53 | 242.71 |
| July 2025 | 309.34 | 237.95 |
| August 2025 | 318.91 | 245.31 |
| September 2025 | 322.73 | 248.26 |
| October 2025 | 331.12 | 254.71 |
| November 2025 | 339.40 | 261.08 |
| December 2025 | 354.68 | 272.83 |
As we move into 2025, Finolex Industries is expected to show consistent growth in its stock prices. January may see a maximum of ₹304.57 and a minimum of ₹234.28, gradually rising to ₹315.53 and ₹242.71 by June. The upward trend continues, with August projected at ₹318.91 and ₹245.31, and September at ₹322.73 and ₹248.26. By year-end, December 2025 is anticipated to reach a high of ₹354.68 and a low of ₹272.83, reflecting steady progress throughout the year.
| When | Maximum Price | Minimum Price |
| January 2026 | 365.32 | 281.01 |
| February 2026 | 356.18 | 273.99 |
| March 2026 | 363.31 | 279.47 |
| April 2026 | 370.72 | 285.17 |
| May 2026 | 367.05 | 282.35 |
| June 2026 | 376.23 | 289.40 |
| July 2026 | 368.85 | 283.73 |
| August 2026 | 380.26 | 292.51 |
| September 2026 | 387.86 | 298.36 |
| October 2026 | 397.95 | 306.11 |
| November 2026 | 407.90 | 313.77 |
| December 2026 | 418.09 | 321.61 |
| When | Maximum Price | Minimum Price |
| January 2027 | 422.27 | 324.83 |
| February 2027 | 433.10 | 333.15 |
| March 2027 | 449.99 | 346.15 |
| April 2027 | 441.17 | 339.36 |
| May 2027 | 428.32 | 329.48 |
| June 2027 | 447.59 | 344.30 |
| July 2027 | 438.82 | 337.55 |
| August 2027 | 452.39 | 347.99 |
| September 2027 | 468.22 | 360.17 |
| October 2027 | 480.40 | 369.54 |
| November 2027 | 492.41 | 378.77 |
| December 2027 | 504.72 | 388.24 |
| When | Maximum Price | Minimum Price |
| January 2028 | 514.81 | 396.01 |
| February 2028 | 528.01 | 406.16 |
| March 2028 | 548.60 | 422.00 |
| April 2028 | 537.85 | 413.73 |
| May 2028 | 522.18 | 401.68 |
| June 2028 | 545.68 | 419.75 |
| July 2028 | 534.98 | 411.52 |
| August 2028 | 551.53 | 424.25 |
| September 2028 | 570.83 | 439.10 |
| October 2028 | 585.67 | 450.52 |
| November 2028 | 600.31 | 461.78 |
| December 2028 | 615.32 | 473.32 |
| When | Maximum Price | Minimum Price |
| January 2029 | 627.63 | 482.79 |
| February 2029 | 643.72 | 495.17 |
| March 2029 | 668.82 | 514.48 |
| April 2029 | 655.71 | 504.39 |
| May 2029 | 636.61 | 489.70 |
| June 2029 | 665.26 | 511.74 |
| July 2029 | 652.21 | 501.70 |
| August 2029 | 672.39 | 517.22 |
| September 2029 | 695.92 | 535.32 |
| October 2029 | 714.01 | 549.24 |
| November 2029 | 731.86 | 562.97 |
| December 2029 | 750.16 | 577.05 |
| When | Maximum Price | Minimum Price |
| January 2030 | 765.16 | 588.59 |
| February 2030 | 784.78 | 603.68 |
| March 2030 | 815.39 | 627.22 |
| April 2030 | 799.40 | 614.92 |
| May 2030 | 776.12 | 597.01 |
| June 2030 | 811.04 | 623.88 |
| July 2030 | 795.14 | 611.65 |
| August 2030 | 819.73 | 630.56 |
| September 2030 | 848.42 | 652.63 |
| October 2030 | 870.48 | 669.60 |
| November 2030 | 892.24 | 686.34 |
| December 2030 | 914.55 | 703.50 |
As we step into 2030, Finolex Industries is expected to demonstrate significant growth in its stock prices. January may witness a maximum of ₹765.16 and a minimum of ₹588.59, steadily rising through February at ₹784.78 and ₹603.68, and March at ₹815.39 and ₹627.22. By mid-year, June is projected to reach ₹811.04 and ₹623.88. Momentum continues in August, with prices potentially hitting ₹819.73 and ₹630.56, followed by September at ₹848.42 and ₹652.63. As we step into December 2030, the year may conclude with prices soaring to a high of ₹914.55 and a low of ₹703.50.
Financial Condition of Finolex Industries Ltd
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 2,985 | 3,462 | 4,647 | 4,397 | 4,317 | 4,224 |
| Expenses + | 2,536 | 2,472 | 3,623 | 4,105 | 3,732 | 3,678 |
| Operating Profit | 448 | 990 | 1,025 | 293 | 585 | 546 |
| OPM % | 15% | 29% | 22% | 7% | 14% | 13% |
| Other Income + | 30 | 72 | 458 | 121 | 181 | 635 |
| Interest | 11 | 7 | 14 | 27 | 36 | 28 |
| Depreciation | 74 | 78 | 83 | 89 | 116 | 107 |
| Profit before tax | 393 | 977 | 1,385 | 297 | 613 | 1,046 |
| Tax % | 18% | 25% | 24% | 20% | 26% | |
| Net Profit + | 324 | 728 | 1,053 | 237 | 455 | 807 |
| EPS in Rs | 5.22 | 11.73 | 16.98 | 3.81 | 7.34 | 13.01 |
| Dividend Payout % | 38% | 34% | 24% | 39% | 34% |
Finolex Industries has demonstrated a dynamic financial trajectory over the years, reflecting both growth and challenges. Between 2020 and 2024, the company’s sales increased from ₹2,985 crore in 2020 to a peak of ₹4,647 crore in 2022, before stabilizing at ₹4,317 crore in 2024. For the trailing twelve months (TTM), sales stood at ₹4,224 crore. Expenses grew alongside sales, rising from ₹2,536 crore in 2020 to ₹3,732 crore in 2024, affecting operating profits.
The Operating Profit Margin (OPM) experienced significant fluctuations, peaking at 29% in 2021 before dropping to 7% in 2023 and recovering to 14% in 2024. Correspondingly, operating profit ranged from ₹448 crore in 2020 to ₹1,025 crore in 2022, settling at ₹585 crore in 2024.
Profit before tax also exhibited substantial variation, rising from ₹393 crore in 2020 to ₹1,385 crore in 2022, before declining to ₹297 crore in 2023 and rebounding to ₹613 crore in 2024. Tax rates varied between 18% and 26% during this period. Net profit increased from ₹324 crore in 2020 to ₹1,053 crore in 2022, followed by a decline to ₹237 crore in 2023 and a recovery to ₹455 crore in 2024, with TTM net profit reaching ₹807 crore.
Earnings per share (EPS) showed a similar trend, climbing from ₹5.22 in 2020 to ₹16.98 in 2022, then stabilizing at ₹7.34 in 2024. Dividend payouts remained consistent, ranging from 24% to 39%, demonstrating the company’s commitment to rewarding shareholders.
FAQs
What is Finolex Industries current market capitalization?
Finolex Industries is currently valued at approximately ₹16,297 crore in the market.
As of November 27, 2024, Finolex Industries shares are trading at ₹263.
Finolex Industries aims for its share price to range from ₹232.26 to ₹354.68 throughout 2025, reflecting optimistic growth expectations.
Looking ahead, Finolex Industries anticipates its share price to potentially reach between ₹703.50 and ₹914.55 by December 2030, underlining its long-term growth strategy.
What is Finolex Industries price-to-earnings (P/E) ratio?
Currently, Finolex Industries stock is trading at a P/E ratio of 33.9, reflecting its valuation relative to earnings.
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Conclusion
In conclusion, Finolex Industries Limited has maintained a stable financial performance, with steady growth in sales and profitability, despite some fluctuations in operating margins. The company’s strong presence in the PVC-U pipes and fittings sector, combined with its diversified product range and robust distribution network, positions it as a market leader in India. Its consistent shareholding patterns reflect stability, with the promoters maintaining a dominant stake. The reappointment of Saurabh Dhanorkar as Managing Director is expected to strengthen the company’s leadership and strategic direction moving forward.
Looking ahead, Finolex Industries is projected to experience steady growth in its stock prices over the next decade, with significant increases expected in the coming years. By 2030, the company’s stock price could reach a high of ₹914.55, reflecting its continued progress and market leadership.
What did we learn?
- 1 Latest News on Finolex Industries
- 2 Shareholdings Patterns of Finolex Industries
- 3 How to Purchase Finolex Industries Shares in India?
- 4 Finolex Industries Share Price Prediction 2024 – 2030
- 4.1 Finolex Industries Share Price Target 2024
- 4.2 Finolex Industries Share Price Target 2025
- 4.3 Finolex Industries Share Price Target 2026
- 4.4 Finolex Industries Share Price Prediction 2027
- 4.5 Finolex Industries Share Price Target 2028
- 4.6 Finolex Industries Share Price Target 2029
- 4.7 Finolex Industries Share Price Prediction 2030
- 5 Financial Condition of Finolex Industries Ltd
- 6 FAQs
- 7 Conclusion
