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Finolex Industries Ltd share price today (on 22 March 2023).
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BSE: 500940 | NSE: FINPIPE | ISIN: INE183A01016 Market Cap: [Rs.Cr.] 759 | Face Value: [Rs.] 10 Industry: Plastics Products
The company is one of the leading manufacturers and exporters of high pressure laminated sheets (HPL) in India.
Finolex Industries Ltd(formerly Finolex Pipes Ltd),was incorporated in 1981 and has been engaged in the Plastics business since then.Beginning as a modest rigid PVC pipe manufacturer,FIL went on for backward integration and now manufactures PVC resin too. They offer a wide range of PVC pipes and fittings suitable for diverse applications in agriculture, housing, and telecommunication. They are having their manufacturing facilities Pune and Ratnagiri in Maharashtra. The company is the largest PVC pipe manufacturer in the country.The company entered into a technical collaboration with UHDE, Germany, for licensing and technical know-how of Hoechst's process for manufacturing PVC resin and providing basic engineering. During the year 1999-2000, the company commissioned their new PVC extruded, rigid pipes plant at Ratnagiri in Maharashtra. Also, they commissioned an additional EDC cracker during the year. During the year 2001-02, they divested their two shares of Rs. 10 each in Finolex Polymers Ltd. Consequently, Finolex Polymers Ltd ceased to be the subsidiary of the company.
During the year 2003-04, the company signed License and Technical Service Agreement with Oxy Vinyl, USA. They signed Technical agreement with Aker Kvaerner Netherlands for Basic Engineering and Design Development for the VCM plant. Also, for Detailed Engineering Site Supervision, Procurement, Management etc for the PVC Plant, they signed with Udhe India Ltd. During the year 2005-06, the company signed a Letter of Intent with I M Skaugen ASA, Norway for carrying out a study for viability and cost effectiveness of the planned LNG Supply Chain intended to be set up in India. In February 2006, PVC expansion project commenced production of PVC resin. During the year 2006-07, the company expanded their PVC Pipes capacity from 65,000 MT to 85,000 MT. Also, they acquired 20 acres of land at Urse for setting up of a new plant for manufacturing of PVC Pipes. In May 2008, the new plant for manufacture of PVC pipes at Urse became operational and the installed capacity for manufacturing of PVC pipes reached 100000 MT per annum. The company is in the process of setting the power plant of 43 MW at PVC plant, Ratnagiri. The project is under construction.
According to the Individual - Audited financial statement for the Year of 2012, total net operating revenues increased with 6.14%, from INR 2,007.09 tens of millions to INR 2,130.24 tens of millions. Operating result increased from INR 236.63 tens of millions to INR 247.22 tens of millions which means 4.48% change. The results of the period decreased -1.34% reaching INR 75.15 tens of millions at the end of the period against INR 76.17 tens of millions last year. Return on equity (Net income/Total equity) went from 12.28% to 11.35%, the Return On Asset (Net income / Total Asset) went from 5.26% to 7.95% and the Net Profit Margin (Net Income/Net Sales) went from 3.80% to 3.53% when compared to the same period of last year. The Debt to Equity Ratio (Total Liabilities/Equity) was 29.24% compared to 233.29% of last year. Finally, the Current Ratio (Current Assets/Current Liabilities) went from 2.53 to 0.66 when compared to the previous year.
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