Is Flair Writing Industries a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Flair Writing Industries Ltd is a average quality company .

Is Flair Writing Industries undervalued or overvalued?

The key valuation ratios of Flair Writing Industries Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone .

What is Flair Writing Industries share price return in the past 10 years?

Data is not available for this company

Is Flair Writing Industries a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Flair Writing Industries Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

What is the P/E ratio of Flair Writing Industries?

The latest standalone P/E ratio of Flair Writing Industries as of 06-Sep-2024 is 27.99.

What is the P/B ratio of Flair Writing Industries?

The latest standalone P/B ratio of Flair Writing Industries as of 06-Sep-2024 is 3.45.

What is the 52-week high and low of Flair Writing Industries?

The 52-week high of Flair Writing Industries is Rs. 514.00 and the 52-week low is Rs. 247.00.

Flair Writing Industries Ltd - Stock Valuation and Financial Performance

Name: Flair Writing Industries
Brand: Flair Writing Industries

BSE: 544030 | NSE: FLAIR | Printing & Stationery | Small Cap

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Flair Writing Indu. Share Price

₹300 -1.75 -0.58%
as on 06-Sep'24 16:01

10 Year X-Ray of Flair Writing Indu.:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	36.4%	36.6%	23.2%	36.9%	27.9%	17.8%	3.2%	19.8%	33.6%	23%	-
Value Creation Index ⓘ	1.6	1.6	0.7	1.6	1.0	0.3	-0.8	0.4	1.4	0.6	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	338	383	148	505	613	581	289	554	904	919	910
Sales YoY Gr.	-	13.3%	-61.3%	240.7%	21.5%	-5.2%	-50.2%	91.5%	63.2%	1.6%	-
Adj EPS ⓘ	17.7	22.7	154.4	285.6	27.9	16.3	0.2	23.1	11.4	10.8	10.7
YoY Gr.	-	28%	580%	84.9%	-90.3%	-41.4%	-98.7%	10890.5%	-50.6%	-5.4%	-
BVPS (₹) ⓘ	30.1	52.8	124.3	866.1	95	110.9	111.2	134.4	45.6	84.4	86.8
Adj Net Profit ⓘ	41.2	52.7	24.7	49.9	65	38.1	0.5	53.9	107	114	113
Cash Flow from Ops. ⓘ	34.2	45.6	17.8	45.3	35.7	77.1	70.4	23	78.8	23.7	-
Debt/CF from Ops. ⓘ	3.9	2.6	6.7	3.9	5.7	2.2	1.7	5.1	1.2	1.5	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	11.8%	8.4%	47%	1.6%
Adj EPS ⓘ	-5.4%	-17.3%	271.8%	-5.4%
BVPSⓘ	12.1%	-2.4%	-8.8%	85%
Share Price	-	-	-	-

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	82	54.8	34.7	57.5	34.6	15.9	0.2	18.8	28.8	17.3	12.5
Op. Profit Mgn % ⓘ	20.5	22.4	17.2	18.8	19.3	16.1	7.8	16.8	19	19.2	17.9
Net Profit Mgn % ⓘ	12.2	13.8	16.7	9.9	10.6	6.6	0.2	9.7	11.8	12.4	12.4
Debt to Equity ⓘ	1.9	1	6	1.2	0.9	0.7	0.5	0.4	0.2	0	-
Working Cap Days ⓘ	146	163	350	132	180	213	386	208	157	193	107
Cash Conv. Cycle ⓘ	72	81	159	61	104	145	282	151	108	115	78

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 47.00%

Net Profit is growing at healthy rate in last 3 years 271.76%

Return on Equity has declined versus last 3 years average to 12.50%

Sales growth is not so good in last 4 quarters at -3.48%

Latest Financials - Flair Writing Industries Ltd.

	Standalone	Consolidated
TTM EPS (₹)	10.7	10.8
TTM Sales (₹ Cr.)	910	979
BVPS (₹.) ⓘ	86.8	87.8
Reserves (₹ Cr.) ⓘ	862	872
P/BV ⓘ	3.45	3.41
PE ⓘ	27.99	27.89

From the Market
52 Week Low / High (₹)	247.00 / 514.00
All Time Low / High (₹)	247.00 / 514.00
Market Cap (₹ Cr.)	3,159
Equity (₹ Cr.)	52.7
Face Value (₹)	5
Industry PE ⓘ	66.1

Management X-Ray of Flair Writing Indu.:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Flair Writing Indu.

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Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Flair Writing Indu.

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	338	383	148	505	613	581	289	554	904	919
Operating Expenses ⓘ	268	297	123	410	495	487	267	461	733	743
Manufacturing Costs	25	33	10	39	43	46	25	43	63	66
Material Costs	187	200	75	261	320	303	163	296	495	466
Employee Cost	34	40	25	74	87	95	57	85	112	136
Other Costs ⓘ	22	24	12	35	44	44	22	36	62	75
Operating Profit ⓘ	69	86	25	95	118	94	23	93	171	176
Operating Profit Margin (%)	20.5%	22.4%	17.2%	18.8%	19.3%	16.1%	7.8%	16.8%	18.9%	19.2%
Other Income ⓘ	4	6	23	7	5	5	12	11	14	20
Interest ⓘ	11	11	6	17	19	16	11	9	9	8
Depreciation ⓘ	8	10	5	15	18	23	22	23	24	29
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Profit Before Tax ⓘ	54	70	38	69	86	60	2	72	151	158
Tax ⓘ	13	17	13	19	21	22	1	18	40	40
Profit After Tax	41	53	25	50	65	38	0	54	112	118
PAT Margin (%)	12.2%	13.8%	16.7%	9.9%	10.6%	6.6%	0.2%	9.7%	12.3%	12.9%
Adjusted EPS (₹)	17.7	22.7	154.4	286.1	27.9	16.3	0.2	23.1	12.0	11.2
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	70	122	20	151	222	259	260	314	426	889
Share Capital ⓘ	3	3	0	0	23	23	23	23	47	53
Reserves ⓘ	67	120	20	151	199	236	236	290	379	836
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	133	116	118	173	196	159	115	111	93	35
Long Term Debt	0	5	4	98	122	114	104	70	35	29
Short Term Debt	133	111	114	75	74	45	11	41	59	6
Trade Payables	36	36	28	55	63	59	38	47	53	58
Others Liabilities ⓘ	22	26	29	40	45	62	55	67	62	91
Total Liabilities ⓘ	261	301	194	419	525	539	467	539	634	1,073
Fixed Assets
Gross Block	125	154	91	166	226	264	266	288	329	408
Accumulated Depreciation	33	44	5	23	44	69	88	107	129	157
Net Fixed Assetsⓘ	92	111	86	144	182	195	178	181	200	251
CWIP ⓘ	12	0	2	8	3	0	0	0	2	20
Investmentsⓘ	0	0	0	0	0	0	16	0	4	4
Inventories	52	63	38	88	129	149	128	179	186	187
Trade Receivables	69	79	30	115	161	164	110	141	162	194
Cash Equivalents	0	2	6	1	2	3	1	0	1	234
Others Assetsⓘ	35	47	32	63	48	28	34	38	80	184
Total Assets ⓘ	261	301	194	419	525	539	467	539	634	1,073

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	34	46	18	45	36	77	70	23	79	24
PBT ⓘ	54	70	38	69	86	60	2	72	151	158
Adjustment ⓘ	19	21	-12	32	36	39	27	30	32	25
Changes in Working Capital ⓘ	-25	-25	-2	-31	-69	-8	42	-69	-62	-114
Tax Paid ⓘ	-14	-20	-6	-24	-17	-13	0	-10	-42	-46
Cash Flow From Investing Activity ⓘ	-34	-17	-21	-51	-52	-22	-16	-8	-46	-246
Capex	-36	-17	-21	-51	-52	-22	-3	-26	-45	-75
Net Investments	1	0	0	0	0	0	-16	17	0	-182
Others ⓘ	1	1	0	0	0	0	3	1	-1	12
Cash Flow From Financing Activityⓘ	-1	-28	8	0	17	-54	-57	-15	-32	274
Net Proceeds from Shares ⓘ	0	0	0	40	0	0	0	0	0	365
Net Proceeds from Borrowing ⓘ	0	5	1	-14	0	0	0	0	0	0
Interest Paid ⓘ	-11	-11	-6	-17	-18	-14	-10	-8	-9	-6
Dividend Paid ⓘ	0	0	0	0	0	0	0	0	0	0
Others ⓘ	10	-22	14	-8	35	-40	-47	-7	-24	-86
Net Cash Flow ⓘ	-1	1	5	-6	1	1	-3	0	0	51

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	81.99	54.81	34.71	58.39	34.86	15.86	0.19	18.8	30.18	17.97
ROCE (%)	36.43	36.57	23.21	36.87	27.9	17.75	3.16	19.77	33.55	23.02
Asset Turnover Ratio	1.49	1.37	0.61	1.65	1.3	1.09	0.57	1.1	1.56	1.1
PAT to CFO Conversion(x)	0.83	0.87	0.72	0.9	0.55	2.03	N/A	0.43	0.71	0.2
Working Capital Days
Receivable Days	68	70	133	52	82	102	173	83	60	69
Inventory Days	46	54	122	45	65	87	175	101	73	73
Payable Days	64	66	155	58	67	73	108	53	37	43

Flair Writing Industries Ltd Stock News

Flair Writing Industries Ltd FAQs

What is the share price of Flair Writing Indu.?

Company share prices are keep on changing according to the market conditions. The closing price of Flair Writing Indu. on 06-Sep-2024 16:01 is ₹300.0.

What is the market cap of Flair Writing Indu.?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 06-Sep-2024 16:01 the market cap of Flair Writing Indu. stood at ₹3,159.2.

What is the P/E ratio of Flair Writing Indu.?

The latest P/E ratio of Flair Writing Indu. as of 06-Sep-2024 16:01 is 27.99.

What is the P/B ratio of Flair Writing Indu.?

The latest P/B ratio of Flair Writing Indu. as of 06-Sep-2024 16:01 is 3.45.

What is the 52-week high and low of Flair Writing Indu.?

The 52-week high of Flair Writing Indu. is ₹514.0 and the 52-week low is ₹247.0.

What is the TTM revenue of Flair Writing Indu.?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Flair Writing Indu. is ₹910.0 ( Cr.) .

About Flair Writing Industries Ltd

Flair Writing Industries is among the top three players in the overall writing instruments industry and occupy a decent market share in the overall writing and creative instruments industry in India. The company is also among the top two organized players which have seen faster growth in revenue as compared to overall writing and creative instrument industry growth rate. The company’s flagship brand “Flair” has enjoyed a market presence of many years. It has an extensive range of products across various price points and cater to a broad range of consumers, including students, professionals and offices. It manufactures and distributes writing instruments including pens, stationery products and calculators. Leveraging on its manufacturing capabilities, and its existing customer base in the writing and creative instruments business, it has also diversified into manufacturing houseware products and steel bottles.

Business area of the company

The company manufactures and distributes several brands in India and due to its ability to manufacture quality products and its distribution and retail capabilities, it is able to partner with various international brands in the writing instruments industry. The company’s products are sold under its “Flair” brand, its principal brands “Hauser” and “Pierre Cardin” and it has also introduced “ZOOX” in India. Its brands “Flair” and “Hauser” offer mass-market and premium pen and stationery products, its brand “ZOOX” focusses on mid-premium and premium writing instruments, and its “Pierre Cardin” brand offers premium pen and stationery products. It also contracts manufacture writing instruments as an OEM for export and for sale in India. It also provides customized corporate gifting products to its corporate customers.

The company’s product range includes a variety of pens (ball pens, fountain pens, gel pens, roller pens and metal pens), which is its largest category in terms of number of products offered, stationery products (mechanical pencils, highlighters, correction pens, markers, gel crayons and kids’ stationery kits) and calculators. It has also forayed into manufacturing a wide range of houseware products including casseroles, bottles, storage containers, serving solutions, cleaning solutions and basket and paper bins, through one of its Subsidiaries, FWEPL (Flair Writing Equipments Private Limited). It intends to utilize a portion of the proceeds from the Offer for funding capital expenditure of FWEPL for purchase of machinery and moulds to expand its manufacturing capacity for writing instruments.

Key Awards, Accreditations and Recognitions

1985-1986: Export Award to NPPI in the category for fountain pens, ball point pens, sign pens, fibre tip pens etc. from the PLEX Council
1986-1987: Export Award to NPPI in the category for fountain pens, ball point pens, sign pens, fibre tip pens etc. from the PLEX Council
1987-1988: Export Award to NPPI in the category for fountain pens, ball point pens and refills from the PLEX Council
1988-1989: Export Award to NPPI in the category for fountain pens, ball point pens and refills from the PLEX Council
1989-1990: Export Award to NPPI in the category for fountain pens, ball point pens and refills from the PLEX Council
1990-1991: Export Award to NPPI in the category for fountain pens, ball point pens and refills from the Plastics and Linoleum Export Promotion Council (“PLEX Council”)
1997-1998: Best Exporter Award to NPPI from the WIMO
1998-1999: Award for the No. 3 Exporter to NPPI from the WIMO
2000-2001: Award for the Best Export Performance to NPPI in the category for plastic and linoleum products (SSI) from the Industries, Energy and Labour Department, Government of Maharashtra
2001-2002: Award for the Third Top Exporter to NPPI from the WIMO
2002-2003: Award for No. 2 Exporter to NPPI from the WIMO
2004-2005: Award for Second Best Exporter to NPPI in the category for all kinds of parts/components for writing instruments from the PEPC
2004-2005: Award for Second Best Exporter to NPPI in the category for writing instruments from the PEPC
2004-2005: Award for No. 2 Exporter to NPPI from the BFPMTA
2005-2006: Award for Second Best Exporter to NPPI in the category for writing instruments from the PEPC
2005-2006: Award for No. 2 Exporter to NPPI from the BFPMTA
2005-2006: Award for No. 3 Exporter to NPPI from the WIMO
2006-2007: First Award for the Best Export Performance to NPPI in the category for plastic and linoleum products (SSI) from the Industries Department, Directorate of Industries, Government of Maharashtra
2006-2007: Award for No. 2 Exporter to NPPI from the BFPMTA
2007-2008: Award for No. 3 Exporter to NPPI from the BFPMTA
2007-2008: Appreciation Memento for Admirable Export to Flair Impex Corporation from the BFPMTA
2007-2008: Award for No. 1 Exporter to the Flair Group of Companies from the WIMO
2008-2009 Award for No. 1 Exporter to the Flair Group of Companies from the BFPMTA
2009-2010 Award for No. 1 Exporter to the Flair Group of Companies from the BFPMTA
2010-2011 Award for No. 1 Exporter to the Flair Group of Companies from the BFPMTA
2011-2012 Award for No. 2 Exporter to the Flair Group of Companies from the BFPMTA
2012-2013 Award for No. 2 Exporter to the Flair Group of Companies from the BFPMTA
2013-2014: Award for No. 1 Exporter to the Flair Group of Companies from the WIMO
2013-2014: Award for No. 2 Exporter to the Flair Group of Companies from the BFPMTA
2014-2015: Award for No. 1 Exporter to the Flair Group of Companies from the WIMO
2014-2015: Export Excellence Award for No. 1 Exporter to the Flair Group of Companies from the BFPMTA
2014-2015: Most Valuable Brand 2014 award in the category of Gems, Jewellery and accessories from WCRC
2015-2016: Export Excellence Award for No. 1 Exporter to FPPIPL from the BFPMTA
2015-2016: Export Award (First) to FPPIPL from the PEPC in the category for writing instruments
2015-2016: Award for No. 1 Exporter to the Flair Group of Companies from the WIMO
2016-2017: Export Award (First) to FPPIPL from the PEPC in the category for writing instruments
2016-2017: Award for No. 1 Exporter to the Flair Group of Companies from WIMO
2016-2017: Export Excellence Award to the Flair Group of Companies for being No. 1 Exporter from the PSAI
2017-2018: Award for participation at the 25th India Big7 International Trade Fair
2017-2018: Award for Second Best Exporter to the Company from the PEPC in the category for writing instruments (excluding parts)
2017-2018: Export Excellence Award to the Company for being No. 1 Exporter from the PSAI
2018-2019: Export Award to the Company from the PEPC in the category for writing instruments (excluding parts)
2018-2019: Top Exporters Award to the Company for Outstanding Export from the PSAI
2019-20: Top Exporters Award to the Company for being No. 2 Exporter from the PSAI
2019-20: Award for Top Exporter to the Company from the PEPC in the category for writing instruments (excluding parts)
2020-21: Award for Top Exporter to the Company from the PEPC in the category for writing instruments (excluding parts)
2021-22: Top Exporters Award to the Company for being No. 3 Exporter from the PSAI

Major Events

1976: “Flair” brand was registered as a trademark (word)
1998: The company commenced production at one of its manufacturing units in Daman
2005: The company’s manufacturing unit, Daman Unit-II, was set up in Daman
2008: Introduced “Flair Calculators”
2009: The company’s manufacturing plant, Dehradun Unit-I, was set up in Dehradun, Uttarakhand
2011: The company’s manufacturing plant, Dehradun Unit-II, was set up in Dehradun, Uttarakhand
2012: The company started offering “Pierre Cardin” writing products
2014: NPPI acquired certain trademarks of the “Hauser” brand
2015: The company’s manufacturing unit, Naigaon Unit-I, was set up in Naigaon, Maharashtra
2016: The company was incorporated upon conversion of M/s. Flair Writing Instruments
2016: The company’s manufacturing unit, Daman Unit-IV, was set up in Daman
2018: A scheme of arrangement under Section 230 to 232 of the Companies Act, 2013 was approved by the NCLT, Mumbai Bench, pursuant to which the Transferor Companies merged with and into the company
2018: The company was converted into a public limited company
2018: The company entered into a deed of assignment with Flair Pens Limited (a member of the Promoter Group and a Group Company) for the assignment of certain trademarks relating to the “Pierre Cardin” brand
2018: The company’s manufacturing plant, Valsad Building-II, was set up in Valsad, Gujara
2019: “FLAIR CREATIVE” brand was registered as a trademark (word)
2019: “Flair Writing Equipments Private Limited” was incorporated as a subsidiary of the company
2019: The company’s manufacturing plant, Valsad Building-III, was set up in Valsad, Gujarat
2020: “HAUSER ARTZ” brand was registered as a trademark (word)
2021: “Flair Creative” range of products was launched
2022: “ZOOX” brand was registered as a trademark (word)
2022: Acquired shares of “Flair Cyrosil Industries Private Limited” and it became one of its subsidiaries
2022: The company’s manufacturing plant, Valsad Building-IV, was set up in Valsad, Gujarat
2023: The overall installed capacity of writing instruments reached 2.02 billion pieces per annum which increased from 1.29 billion pieces in 2018
2023: The company’s manufacturing plant, Daman Agarwal Unit, was set up in Daman, Dadra and Nagar Haveli and Daman and Diu
2023: A scheme of arrangement under Section 230 to 232 of the Companies Act, 2013 was approved by the NCLT, Mumbai Bench, pursuant to which FDPL merged with the company