Finolex Industries Ltd
NSE: FINPIPE BSE: 500940
₹151.58
(0.28%)
Tue, 13 Oct 2026, 07:25 am
Market Cap (in Cr)9372.3
PE Ratio15.23
Dividend1.32
Producer Manufacturing
Miscellaneous Manufacturing
24.5KCompany History
1981
- Incorporated 28 March as private limited in Maharashtra; converted to public 1 Dec 1988
- Acquired manufacturing plant at MIDC Chinchwad Pune
- Started commercial production of PVC pipes in May
- Promoted by P P Chhabria and associates
1983
- Issued 367650 shares without cash to Finolex Plastics Pvt Ltd members on merger
1987
- Obtained Letter of Intent for 100000 tpa PVC resin manufacture
- Entered technical collaboration with Uhde GmbH for Hoechst AG PVC process
- Issued 842919 rights shares at par in 1.5:1 proportion
1989
- Public issue of 1750000 equity shares and 350000 14% partly convertible debentures
- 87,500 shares reserved for employees; balance to public
- 55,11,093 bonus shares in 3.907:1 ratio
- Arranged group gratuity-cum-life assurance with LIC
1990
- Issued 2736667 convertible debentures (14% Rs150); preferential allotments; oversubscribed
- Rs60 per debenture converted to 4 equity shares at Rs5 premium after 18 months
- Issued 8200000 non-convertible debentures (14% Rs100) on rights; devolved on underwriters
- Non-convertible debentures redeemed in three instalments at 5% premium
1991
- Allotted 4025000 shares on second conversion of 1989 debentures
- Issued convertible and non-convertible debentures; oversubscribed
- Signed DM29.553M and Rs859L loans with ICICI
- Signed Rs475L bridge loan with IDBI
- Converted 1989 debentures; set redemption dates
- Created additional securities for debentures
1992
- Commissioned EDC/ethylene unloading arms of cryogenic jetty
- Issued 42859570 rights equity shares at Rs30 premium; additional allotted
- Issued equity shares to employees, UTI, ICICI, IDBI, IFCI
- Converted debentures to equity shares on 1 Apr and 30 May
- Signed Rs500L term loan with ICICI/IFCI
- Received technical know-how from UHDE GmbH
1993
- Commissioned EDC/ethylene unloading arms
- Allotted equity shares from Aug 1992 issue
- Signed Rs75M foreign loan with ICICI and Rs142.3M rupee loan with Bank of Baroda
- Set up R&D centre at Pune registered office
- Received technical know-how from UHDE GmbH
1994
- Commissioned entire PVC plant
- Issued 40000000 warrants to promoter group; 17807850 converted to equity shares
- Launched PVC resin all-India; planning emulsion/paste PVC and SWR pipes/fittings
- Received P1+ CRISIL rating for commercial paper
- Tied up banks for PVC resin working capital
- Finolex Polymers Ltd became subsidiary
1995
- Commissioned entire PVC plant
- Undert ook debottlenecking and balancing equipment programme
- Signed loan with ICICI for additional storage facility
- Signed three-year agreement with workers' union
1996
- Introduced five suspension PVC grades and four emulsion/paste PVC grades
- Pipes Division granted IS/ISO 9002 certification
- Director R D Aga passed away on 16 February
- Allotted 1145340 equity shares to financial institutions
- Redeemed 1/3rd of 7885756 Non-Convertible Debentures
1997
- Installed jumbo bags unloading and raw material transportation system
- Signed USD9.6M ECB loan agreement with Kredietbank NV
- Provided donations and support to schools, remand home and spastic institution in Ranpar and Ratnagiri
1998
- Commissioned LPG import and storage facilities
- Developed specialty fittings for large diameter pipes
- Redeemed 1989 Series Debentures fully and second instalment of Non-Convertible Debentures
- Signed agreement with National Securities Depository Limited for dematerialisation
- Mr M P Modi nominated as Director by LIC
- Planted over 30000 trees near PVC plant
1999
- Received Dr R J Rathi Environmental Pollution Control award
- Setting up 10000 MTpa PVC pipes plant adjacent to PVC plant
- Signed Tripartite Agreement with CDSL and MCS for dematerialisation
2000
- CRISIL assigned AA- rating to Rs50cr NCD issue and P1+ to Rs60cr CP programme
- Ratnagiri PVC plant received Safety Award from National Safety Council
- Proposed buyback of 10% shares at up to Rs40 per share
2001
- Introduced stock option scheme for employees
2002
- Finolex Industries acquired 13.39% paid-up capital under buyback
- Net profit increased 56.69% to Rs 59cr
- Co-opted Mr K N Atmaramani as Additional Director
- Approved expansion of Ratnagiri PVC plant by 130000 MT per annum
2003
- Announced buyback of ordinary shares
- Increasing PVC pipes capacity to 52000 tonnes per year
- Investing Rs 500cr to expand Ratnagiri facility
- Infused Rs 23cr adding new extrusion line at Ratnagiri
2007
- Close to signing agreement with Tishman Speyer India Ventures for sale of Chinchwad land
2008
- Recommended dividend @30%
2009
- Appointed Mr P D Karandikar as additional director
- Recommended dividend @10%
2010
- Recommended dividend @30%
- Appointed Mr K Cherian Varghese as additional director
2011
- Recommended dividend @30%
- Appointed Mr D N Damania as additional director
2012
- Recommended dividend @30%
2013
- Recommended dividend @55% (Rs 5.50 per share) for FY 2012-2013
2014
- Recommended dividend @70% (Rs 7 per share) for FY 2013-2014
2015
- Bagged 2nd prize for product presentation at 20th IPC
- Received Global CSR Excellence & Leadership Award
- Organized Marathon for Breast Cancer Awareness
- Received Best Safety Practices Award
- Launched Revolo
2017
- Inaugurated 5th Rehabilitation/Physiotherapy Center at Finolex Colony, Ratnagiri
- Organized channel partner meet launching CPVC Flowguard
2018
- Received Prestigious Pune Pride Award
2019
- Received Business Excellence Award in CSR Category from Corporate Tycoon MMF and FIL
2020
- Received Yuva Unstoppable Gratitude Award
2021
- Received World CSR Day Award
2024
- Signed Share Purchase agreement for 8.36MW Solar Power under Group captive mode with Hinduja Renewables
