Felix Industries Ltd.

•

felixindustries.coBSE: -NSE: FELIX

Market Cap₹ 372 Cr.

Current Price

High / Low₹ 233 / 143

Stock P/E18.5

Book Value₹ 89

Price to Book1.85

Dividend Yield0.00 %

ROCE20.4 %

ROE16.7 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Utilities

Buy

Utilities are backed by firm electricity demand and output. Power generation grew 8.0% YoY (2026-07), IIP-electricity was 10.0% YoY (2026-06), and core electricity output rose 9.0% YoY (2026-07). Sector-specific FPI flows are mildly positive at INR 148 crore over 3 months to 2026-08-31, adding to the supportive fundamental case.

Confidence

73%

View full sector analysis →

PROS

Latest quarter profit grew 54.5% YoY, showing strong momentum
Operating margins have improved to 27.6% from 10.6%
Company comfortably covers its interest (9.4x coverage)
Attractively priced for its growth - PEG of 0.1
Company maintains a comfortable, low leverage position
Stock looks reasonably valued - P/E of 18.5 is below its historical median

CONS

Operating cash flow has been negative in recent years
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.25x)
Free cash flow has been persistently negative
Equity base is being diluted - shares outstanding up 237.8%
Total debt has risen sharply - up 90.7% year on year

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

UtilitiesBusiness ServicesEnvironmental Services

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	WABAG	2276.90	36.03	14228.71	0.22	90.10	36.93	886.80	20.82	21.22	9.59
2.	IONEXCHANG	445.70	66.65	6536.93	0.28	3.06	-93.68	700.46	20.11	13.46	4.59
3.	REFEX	273.05	15.23	3747.03	0.55	64.55	216.87	916.30	139.09	24.06	11.67
4.	AWHCL	365.85	17.77	1038.36	0.14	0.75	-96.74	260.99	5.52	13.11	14.25
5.	ECORECO	441.45	36.02	865.10	0.23	9.17	13.35	16.19	75.22	32.61	56.27
6.	CEWATER	284.45	114.07	588.70	0.00	-17.57	-526.54	85.35	-16.65	6.86	-18.72
7.	FELIX	216.30	18.49	372.17	0.00	5.51	54.51	28.22	36.86	20.39	32.07
8.	RACE	97.28	22.32	167.88	0.00	1.03	150.00	191.06	21.91	10.23	1.99
9.	BANKA	81.78	251.29	89.71	0.00	-0.39	-19600.00	105.51	847.04	-8.20	17.27

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	8	8	8	13	21	17	27	37	28
	7	7	4	9	15	10	19	30	21
Operating Profit	1	1	4	4	6	8	7	8	7
OPM %	6.74%	6.74%	45.40%	28.10%	27.06%	44.36%	27.33%	20.33%	25.45%
	1	1	2	2	0	1	1	2	1
Interest	0	0	0	1	1	1	1	1	1
Depreciation	0	0	0	0	0	0	1	1	1
Profit before Tax	1	1	5	5	5	8	7	8	8
Tax %	68.00%	68.00%	8.38%	22.13%	25.31%	29.08%	25.71%	43.93%	30.29%
Net Profit	0	0	5	4	4	5	5	4	6
	1.62	0.00	3.29	3.10	2.61	3.73	2.43	2.74	3.20

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	19	34	37	102	110
	17	28	29	74	80
Operating Profit	2	6	8	28	30
OPM %	11.02%	16.63%	22.45%	27.61%	27.16%
	0	2	6	4	4
Interest	1	1	1	3	3
Depreciation	0	0	1	2	3
Profit before Tax	1	7	12	27	30
Tax %	18.17%	23.70%	24.02%	31.89%	32.50%
Net Profit	1	5	9	18	20
EPS	2.30	4.03	6.67	10.57	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 74%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 150%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 39%
3 Years:: 20%
1 Year:: 25%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 18%
Last Year:: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	5	12	14	17
Minority Interest	0	-0	6	11
	4	28	56	130
	4	3	17	27
Trade Payables	2	5	21	8
	10	29	34	52
Total Liabilities	24	77	149	245
	4	7	58	67
Capital Work in Progress	1	4	19	23
	1	1	2	5
	5	12	14	20
	0	13	16	34
Cash & Bank	0	5	3	10
	14	36	36	87
Total Assets	24	77	149	245

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-6	-33	30	-37
Cash from Investing	-1	-4	-67	-16
Cash from Financing	7	42	36	59
	0	5	-2	6

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Mar 2023	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Mar 2026
	73.14	62.51	54.85	50.85	50.67	50.33	50.78	50.78
	0.00	0.00	0.11	1.43	1.42	0.11	1.24	1.28
	0.00	0.00	0.00	0.00	0.18	0.32	0.43	1.17
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	26.86	37.50	45.04	47.72	47.74	49.24	47.54	46.77

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for FELIX

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AI Stock Analyst

Felix Industries Ltd.

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Name

WABAG

2276.90

36.03

14228.71

0.22

90.10

36.93

886.80

20.82

21.22

9.59

IONEXCHANG

445.70

66.65

6536.93

0.28

3.06

-93.68

700.46

20.11

13.46

4.59

REFEX

273.05

15.23

3747.03

0.55

64.55

216.87

916.30

139.09

24.06

11.67

AWHCL

365.85

17.77

1038.36

0.14

0.75

-96.74

260.99

5.52

13.11

14.25

ECORECO

441.45

36.02

865.10

0.23

9.17

13.35

16.19

75.22

32.61

56.27

CEWATER

284.45

114.07

588.70

0.00

-17.57

-526.54

85.35

-16.65

6.86

-18.72

FELIX

216.30

18.49

372.17

0.00

5.51

54.51

28.22

36.86

20.39

32.07

RACE

97.28

22.32

167.88

0.00

1.03

150.00

191.06

21.91

10.23

1.99

BANKA

81.78

251.29

89.71

0.00

-0.39

-19600.00

105.51

847.04

-8.20

17.27

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Operating Profit

OPM %

6.74%

45.40%

28.10%

27.06%

44.36%

27.33%

20.33%

25.45%

Interest

Depreciation

Profit before Tax

Tax %

68.00%

8.38%

22.13%

25.31%

29.08%

25.71%

43.93%

30.29%

Net Profit

1.62

0.00

3.29

3.10

2.61

3.73

2.43

2.74

3.20

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

102

110

Operating Profit

OPM %

11.02%

16.63%

22.45%

27.61%

27.16%

Interest

Depreciation

Profit before Tax

Tax %

18.17%

23.70%

24.02%

31.89%

32.50%

Net Profit

EPS

2.30

4.03

6.67

10.57

—

Dividend Payout %

0.00%

—

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

Minority Interest

-0

130

Trade Payables

Total Liabilities

149

245

Capital Work in Progress

Cash & Bank

Total Assets

149

245

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-6

-33

-37

Cash from Investing

-1

-4

-67

-16

Cash from Financing

-2

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Mar 2023

Sep 2023

Mar 2024

Sep 2024

Mar 2025

Jun 2025

Sep 2025

Mar 2026

73.14

62.51

54.85

50.85

50.67

50.33

50.78

0.00

0.11

1.43

1.42

0.11

1.24

1.28

0.00

0.18

0.32

0.43

1.17

Government

0.00

26.86

37.50

45.04

47.72

47.74

49.24

47.54

46.77

Felix Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Felix Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI