NSE: FINPIPE | BSE: 500940

Mid-range Performer

Download real time

172.03 -2.66 (-1.52%)

27.72% Fall from 52W High

827.5K NSE+BSE Volume

NSE 06 Feb, 2026 3:31 PM (IST)

10,674.1

Market Cap

High in industry

Beta 1Year

Average volatility

Finolex Industries Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for FINPIPE, BSE:500940 Finolex Industries Ltd.

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Finolex Industries Ltd.

03 Feb 2026

172.03

-1.52%

Finolex Industries: Q3FY26 Result Review

Hold: Finolex Industries Ltd.

Target

IDBI Capital

Finolex Industries' (FIL) Q3FY26 result was below our estimates on key parameters. The management cited that the monsoon season materially impacted demand across the piping industry, leading to muted volumes in Q3. Channel inventory levels remained below normal but started rebuilding gradually in January as PVC prices stabilized and sentiment improved. Industry demand outlook remains cautious but seasonally stronger in Q4, with infrastructure and non-agri applications supporting recovery. However, management refrained from expecting double-digit industry growth given...

IDBI Capital decreased Hold price target of Finolex Industries Ltd. to 188.0 on 03 Feb, 2026.

Finolex Industries Ltd.

02 Feb 2026

172.03

-1.52%

Finolex Industries (HOLD): Margins hold up on mix improvement and spread lag

Hold: Finolex Industries Ltd.

Recommendation Target

BOB Capital Markets Ltd.

FNXP trails peers on muted demand for agri pipes: rev declined ~10% YoY led by vol decline of ~14% YoY while realisations grew 5% YoY

Finolex Industries Ltd. is trading below all available SMAs

Finolex Industries Ltd.

11 Nov 2025

172.03

-1.52%

Finolex Industries: Q2FY26 Result Review

Hold: Finolex Industries Ltd.

IDBI Capital

Finolex Industries' (FIL) Q2FY26 result was a mixed bag as net sales was marginally below our estimate, while margins were beat to our forecast. Volume decreased by about 6% YoY mainly on account of prolonged heavy monsoon. The management anticipates a rebound in deferred demand once the monsoon recedes and does not foresee a significant overall decline in agri demand. The company faced global structural issues in the VCM market, which it is attempting to manage through long-term contracts to ensure continued supply. The management reiterated that the core focus remains on being a...

Finolex Industries L.. has an average target of 202.00 from 3 brokers.

Finolex Industries Ltd.

10 Nov 2025

172.03

-1.52%

Finolex Industries (BUY): Mixed Q2: margin surprise offsets weak volume

Buy: Finolex Industries Ltd.

BOB Capital Markets Ltd.

Reported weak pipe sales volume in Q2 due to muted demand environment, but beats EBITDA estimate on sharp margin improvement

Finolex Industries Ltd. is trading below all available SMAs

Finolex Industries Ltd.

10 Nov 2025

172.03

-1.52%

Finolex Industries (FNXP IN) Q2FY26 Result Update Agri...

Accumulate: Finolex Industries Ltd.

Prabhudas Lilladhar

Finolex Industries L.. has an average target of 202.00 from 3 brokers.

Finolex Industries Ltd.

21 Aug 2025

172.03

-1.52%

Finolex Industries (FNXP IN) Management Meet Update ADD...

Accumulate: Finolex Industries Ltd.

Target

Prabhudas Lilladhar

at 50% discount to consensus target market value. We recently met the management of Finolex Industries (FNXP) to gauge volume growth outlook, market share dynamics, PVC resin availability, and price trends post DGTR's final findings on ADD on PVC resin. The company reiterated its 10% volume growth guidance in Pipes & Fittings (P&F) for FY26 and expects margin improvement ahead. We believe FNXP stands to benefit from 1) imposition of ADD on PVC resin given its backward integration, 2) GST rate revision on agri pipes, 3) expanding dealer/distribution network, and 4) gradual expansion in...

Finolex Industries L.. has an average target of 202.00 from 3 brokers.

Finolex Industries Ltd.

06 Aug 2025

172.03

-1.52%

Finolex Industries: Q1FY26 Result Review

Hold: Finolex Industries Ltd.

Recommendation Target

IDBI Capital

Finolex Industries' (FIL) Q1FY26 result was below our estimates on key parameters. The company experienced modest growth in pipes and fittings volumes, despite a weak overall demand scenario, however, operating performance was muted mainly due to weaker realization on account of volatility in PVC prices. The management guided that the demand has shown high single-digit growth as of early August 2025. The company expects this high single-digit trend to continue and is hopeful of crossing double-digit growth for FY26. Net sales declined by 8.5% YoY to Rs10.4bn, while EBITDA came in at...

IDBI Capital decreased Hold price target of Finolex Industries Ltd. to 188.0 on 03 Feb, 2026.

Finolex Industries Ltd.

05 Aug 2025

172.03

-1.52%

Finolex Industries (BUY): Early monsoon dampens Q1; channel refill, ADD to aid H2FY26

Buy: Finolex Industries Ltd.

Target

BOB Capital Markets Ltd.

Sharp EBITDA miss in Q1 on weak demand and sharp margin pressure due to volatile PVC resin prices

Finolex Industries Ltd. is trading below all available SMAs

Finolex Industries Ltd.

27 May 2025

172.03

-1.52%

Finolex Industries (BUY): Cautious demand outlook; but margin expansion likely in FY26

Buy: Finolex Industries Ltd.

Target

BOB Capital Markets Ltd.

Beats EBITDA estimate by 47.0% on sharp sequential improvement in the pipe segment margin

Finolex Industries Ltd. is trading below all available SMAs

Finolex Industries Ltd.

27 May 2025

172.03

-1.52%

Finolex Industries (FNXP IN) Q4FY25 Result Update Margin...

Hold: Finolex Industries Ltd.

Target

Prabhudas Lilladhar

P&F reported soft volume growth of 2.1% YoY due to challenging demand scenario and delays in ADD on PVC resin prices. The company has guided double digit volume growth for FY26, with margin recovery expected as competitive pricing will improve with demand and normalization in channel inventory. EBIT/kg for the P&F segment moderated at Rs10.5 with lower PVCEDC spread at USD 491/MT and 3.2% YoY lower realization. The correction in realization was mainly due to discounts and correction in RM prices. We...

IDBI Capital decreased Hold price target of Finolex Industries Ltd. to 188.0 on 03 Feb, 2026.

Is Finolex Industries Ltd. worth buying?

420 Votes:

Buy 79.52%

Sell 9.05%

Hold 11.43%

RESEARCH REPORTS

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