Finolex Industries-Another Jain Irrigation In The Making? BSE: FINOLEXIND; CMP Rs 79 Expected Land Sale in Pune and Listing of The Drip Irrigation Subsidiary will unlock value, the stock is a multi-bagger Finolex Industries Limited (FIL), formerly Finolex Pipes Ltd., was incorporated in 1981 and has been in the "Plastics" business since then. Beginning as a modest rigid PVC (Poly Vinyl Chloride) pipe manufacturer, FIL went on for backward integration and now manufactures PVC resin too.
FIL is the largest PVC pipe manufacturer in India. The Pipes division of FIL is the first PVC pipe manufacturer in India to get ISO 9001: 2000 certifications. Production capacity of the Pipes division is over 90,000 metric tonnes per annum spread over its two ultra modern plants at Urse(near Pune) and Ratnagiri. FIL offers a wide range of PVC pipes and fittings, for diverse applications in agriculture, housing, telecom, industry, etc., ranging between 20 mm to 400 mm diameter. FIL also manufactures specialty pipes and fittings, namely SWR (Soil, Waste and Rain Water) as well as ASTM pipes and fittings for the Construction Industry. The Pipes division of FIL has won the PLEXCONCIL "Top Exporter Award" on five occasions.
FIL has its PVC resin plant near Ratnagiri (350 Kms. South of Mumbai) on the West Coast of Maharashtra State. FIL is one of the largest PVC manufacturers in India. The 260000 metric tonnes PVC plant has been set up in technical collaboration with Uhde GmbH of Germany under technology license from Hoechst AG. FIL manufactures suspension grade PVC as well as emulsion/paste grade PVC.
As a part of its PVC complex, FIL has set up an open sea cryogenic jetty. The Finolex jetty is the first of its kind in the private sector in India. It is located near the PVC plant and is presently utilised for importing the feedstock for manufacture of PVC as well as for importing LPG.
The strength of FIL lies in its quality products and satisfied customers. Over the years, FIL has built a very large distribution net work which adds to it's strength. The name "Finolex" is synonymous with "Quality" not only in India but also with FIL's international customers.
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Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.
Nothing in this article is, or should be construed as, investment advice.
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