Manufactures PVC pipes and fittings and PVC resin in an integrated setup. The two reportable segments are PVC pipes and fittings (Rs 4,104.05 crore segment revenue, 71.2% of segment revenue) and PVC resin (Rs 1,660.01 crore, 28.8%); segment revenue exceeds the consolidated total of Rs 4,113.43 crore, reflecting inter-segment usage of resin in pipe-making. For FY26, consolidated revenue was Rs 4,113.43 crore on total sales volume of 332,736 MT, 4% lower year-on-year. Q4 FY26 recovered sharply, with revenue of Rs 1,314 crore (up 12% YoY) and EBITDA margin reaching 25%, as PVC prices and the PVC/EDC delta improved. Raw materials are the dominant cost at 63.2% of revenue, with employees at 5.9%, other operating expenses at 19.3% and depreciation at 2.6%. The balance sheet carried roughly Rs 2,563 crore of net free cash, while short-term borrowings rose to Rs 437 crore and inventories built up to Rs 1,026 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. PVC pipes and fittings (71%), PVC resin (29%). Integrated, cyclical PVC products maker exposed to PVC price spreads and demand from piping end markets
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 4,647 | 4,397 | 4,317 | 4,142 | 4,113 |
| EBITDA (ex other income) | 1,400 | 293 | 585 | 893 | 679 |
| margin % | 30.1 | 6.7 | 13.5 | 21.6 | 16.5 |
| Owners' profit | 0 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 16.94 | 4.04 | 7.66 | 12.94 | 9.69 |
| ROE % · ROCE % | 26.8 · 33.7 | 5.1 · 6.3 | 8.4 · 10.9 | 13.1 · 16.1 | 9.6 · 12.1 |
| Debt / equity (x) | 0.07 | 0.11 | 0.07 | 0.04 | 0.07 |
| Cash from operations | 622 | 302 | 353 | 383 | 192 |
| Capex | (84) | (169) | (86) | (116) | (65) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 828 | 1,001 | 1,172 | 1,043 | 859 | 898 | 1,314 | 884 |
| Profit before tax | 60 | 95 | 203 | 126 | 156 | 146 | 335 | 148 |
| Net profit | 41 | 94 | 165 | 98 | 124 | 116 | 261 | 115 |
| EPS (₹) | 0.66 | 1.52 | 2.66 | 1.59 | 2.00 | 1.88 | 4.23 | 1.85 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SUPREME INDUSTRIES LTD | 42,745 | 41.2 | 6.93 | 26.3 | 15.5 | 17.9 | 12.0 | 15.0 |
| ASTRAL LIMITED | 37,967 | 65.9 | 9.36 | 34.3 | 13.2 | 16.9 | 15.6 | 15.5 |
| GARWARE HI-TECH FILMS LTD | 16,077 | 41.5 | 6.05 | 31.9 | 12.7 | 16.4 | 16.5 | 30.3 |
| FINOLEX INDUSTRIES LTD ◆ | 9,504 | 15.4 | 1.53 | 11.1 | 9.6 | 11.8 | 3.5 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 29 Aug 2026 · Newspaper publication of 45th AGM notice and e-voting details | compliance | minimal | — | — |
| 28 Aug 2026 · Finolex Industries sends AGM notice to shareholders without email; KYC update reminder | compliance | minimal | — | — |
| 28 Aug 2026 · Finolex Industries fixes Sept 11 as record date for FY26 dividend | corporate actions | high | — | — |
| 28 Aug 2026 · Finolex Industries files BRSR for FY2025-26 with TUV SUD assurance | compliance | low | — | — |
| 28 Aug 2026 · Finolex Industries 45th AGM notice and Annual Report FY26 | board shareholder meetings | medium | — | — |
| 28 Aug 2026 · Finolex Industries 45th AGM notice on Sep 22, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 27 Aug 2026 · Newspaper publication of 45th AGM notice | compliance | minimal | — | — |
| 27 Aug 2026 · Finolex Industries publishes 45th AGM notice in newspapers | compliance | minimal | — | — |
| 13 Aug 2026 · Finolex Industries Q1 FY27 Earnings Call: Volume down 27%, margins up to 12% | investor communications | medium | — | — |
| 10 Aug 2026 · Finolex Industries to attend Equirus India Conference 2026 on Aug 13 | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 20.6 |
| TIME TECHNOPLAST LTD. | 8,934 | 17.6 | 2.14 | 10.0 | 11.4 | 14.0 | 15.2 | 13.3 |
| KINGFA SCI & TEC IND LTD. | 8,422 | 37.3 | 6.02 | — | 13.2 | 17.7 | — | 16.9 |
| PRINCE PIPES FITTINGS LTD | 2,950 | 28.9 | 1.79 | — | 4.5 | 5.6 | — | 13.3 |
| APOLLO PIPES LIMITED | 2,444 | — | 2.74 | 32.3 | 0.5 | 1.0 | — | 1.8 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 15.4 | 15.2 | 28 of 54 | 49% |
| P/B | 1.5 | 1.8 | 19 of 43 | 57% |
| ROCE | 11.8 | 7.1 | 20 of 57 | 66% |
| ROE | 9.6 | 7.6 | 18 of 48 | 64% |
| Debt / Equity | 0.1 | 0.1 | 18 of 48 | 64% |
| EBITDA margin | 20.6 | 11.6 | 6 of 43 | 88% |
| Revenue growth | (15.3) | 10.6 | 41 of 49 | 17% |
| Profit growth | 16.7 | 20.7 | 26 of 47 | 46% |
| Market cap | 9504 | 130 | 4 of 56 | 95% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
