pocketful logo
Finolex Industries Ltd logo

Finolex Industries Ltd

NSE: FINPIPE BSE: 500940

₹185.25

(0.07%)

Tue, 03 Mar 2026, 11:15 am

Company 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

Open Your Free Demat Account Now!

Step into a world of zero fees and limitless opportunities!

pocketful logo

2022-25 Pocketful. All rights reserved, Built with in India

Version -5.76

app image 1app image 2

Explore

Calculatorsfooter arrow down icon
Popular Calculatorsfooter arrow down icon
Group Stocksfooter arrow down icon

Pocketful Fintech Capital Private Limited (CIN U65999DL2021PTC390548) | The SEBI Registration No. allotted to us is INZ000313732. NSE Member Code: 90326 | BSE Member Code: 6808 | MCX Member Code: 57120 DP | CDSL: 12099800