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Employees: 4,306
Size Finolex Industries (FINPIPE.NS) is an India Industrials company (Miscellaneous Manufacturing) with a market value of $932M, the 615th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹141.95 on 6 Nov 2026.
Performance Over six months the shares fell 20.0%, against -21.8% for the median peer and 0.0% for the India market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 2.8% over the last twelve months (peer median +5.7%); the operating margin is 13.8% (peer median 7.0%).
Valuation It trades at 16.4× forward earnings against a peer median of 24.3× (5th cheapest of 12).
Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +9 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.4 points below its cost of capital (12.5% WACC).
Next results Next results expected around 1 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹41.9B | ₹41.0B | ₹41.3B | ₹43.0B | ₹43.8B |
| Revenue growth | — | -1% | -4% | -2% | — |
| Gross profit | ₹13.7B | ₹8.44B | ₹6.38B | ₹7.36B | ₹4.60B |
| EBITDA | ₹6.86B | ₹7.21B | ₹5.05B | ₹6.01B | ₹3.35B |
| Net income | ₹6.07B | ₹5.99B | ₹8.00B | ₹4.74B | ₹2.51B |
| Free cash flow | n/a | ₹1.64B | ₹3.06B | ₹2.81B | ₹1.50B |
| Capital expenditure | n/a | ₹650M | ₹1.16B | ₹864M | ₹1.69B |
| Total debt | ₹1.42B | ₹4.46B | ₹2.37B | ₹3.94B | ₹5.41B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | FINPIPE.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.8% | -8.3% | 10th highest of 21 |
| 6-month return | -20.0% | -21.8% | 10th highest of 21 |
| Distance from 52-week high | -29.2% | -37.1% | 7th highest of 21 |
| Revenue growth (TTM) | +2.8% | +5.7% | 7th lowest of 21 |
| Operating margin | 13.8% | 7.0% | 5th highest of 21 |
| Forward P/E | 16.4× | 24.3× | 5th cheapest of 12 |
| Growth the price implies (Req g, 7 yrs) | 13.0% | 6.9% | 5th most demanding of 15 |
| Growth delivered (Del g) | +3.5% | +4.2% | 8th highest of 15 |
| Hurdle (Req g minus delivered) | +9.5 pp | +3.2 pp | 4th most demanding of 15 |
| ROIC minus cost of capital | -4.4 pp | -0.6 pp | 8th lowest of 21 |
| EV / EBITDA | 9.6× | 7.5× | 2nd most expensive of 4 |
| Net debt / EBITDA | -3.2× | 1.8× | least indebted of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Finolex Industries FINPIPE.NS | India | $932M | -20% | +3% | 14% | 16.4× | 13.0% | +3.5% |
| Jiangsu Changhai Composite Materials 300196.SZ | China | $897M | -25% | +3% | 11% | 17.9× | 3.8% | +9.0% |
| Genuit GEN.L | United Kingdom | $897M | +8% | +4% | 12% | 12.1× | 12.4% | +8.6% |
| Shanghai Yanpu Precision Technology (Group) 605128.SS | China | $978M | -9% | +3% | 9% | 27.1× | 15.4% | +25.0% |
| Shanghai Hajime Advanced Material Technology 301000.SZ | China | $986M | -1% | +4% | 16% | 40.9× | n/a | n/a |
| Shenzhen Jame Technology 300868.SZ | China | $878M | -36% | +8% | -7% | n/a | n/a | n/a |
| Blue Sail Medical 002382.SZ | China | $861M | -24% | +23% | 7% | 11.8× | -6.5% | -6.1% |
| INDUS INH.DE | Germany | $1.03B | +11% | +8% | 13% | 7.0× | -6.8% | +2.2% |
| Riverstone AP4.SI | Singapore | $824M | -13% | -4% | 25% | 15.5× | 2.1% | -12.8% |
| Zhejiang Goldensea Hi-Tech 603311.SS | China | $823M | +28% | +3% | 7% | 59.6× | n/a | n/a |
| Zhejiang Kaier New Materials 300234.SZ | China | $816M | +73% | -17% | -9% | n/a | n/a | n/a |
| Hubei Huaqiang High-Tech 688151.SS | China | $800M | -22% | +13% | -5% | n/a | 47.9% | -5.6% |
| Changyuan Technology 600525.SS | China | $799M | -24% | +7% | -7% | n/a | -12.4% | +5.1% |
| Unilumin 300232.SZ | China | $796M | -23% | +1% | 0% | 32.5× | 6.4% | +10.3% |
| Cangzhou Mingzhu Plastic 002108.SZ | China | $1.10B | -28% | +14% | 5% | n/a | n/a | n/a |
| RHI Magnesita India RHIM.NS | India | $789M | -13% | +8% | 7% | 25.4× | 27.1% | +24.1% |
| Apex Dynamics 4583.TW | Taiwan | $775M | -58% | +14% | 33% | 24.3× | 4.5% | +1.1% |
| Fuling Technology 001356.SZ | China | $756M | -22% | +17% | 6% | n/a | n/a | n/a |
| Sichuan Goldstone Asia Pharmaceutical 300434.SZ | China | $745M | +8% | -1% | 18% | n/a | 12.2% | +6.2% |
| Suzhou Victory Precision Manufacture 002426.SZ | China | $1.17B | -41% | +7% | -20% | n/a | 30.8% | -18.0% |
| Daoming Optics & Chemical 002632.SZ | China | $740M | -28% | -10% | 12% | n/a | 7.5% | +3.3% |