Felix Industries Ltd.

•

felixindustries.coBSE: -NSE: FELIX

Market Cap₹ 382 Cr.

Current Price

High / Low₹ 233 / 143

Stock P/E17.1

Book Value₹ 90

Price to Book1.88

Dividend Yield0.00 %

ROCE22.3 %

ROE18.5 %

Face Value₹ 10

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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

Company has delivered good sales growth of 92.1% CAGR over last 5 years
Latest quarter profit grew 80.9% YoY, showing strong momentum
Operating margins have improved to 36.4% from 10.6%
Stock looks reasonably valued - P/E of 17.1 is below its historical median
Company comfortably covers its interest (11.1x coverage)
Attractively priced for its growth - PEG of 0.1

CONS

Operating cash flow has been negative in recent years
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -2.02x)
Free cash flow has been persistently negative
Equity base is being diluted - shares outstanding up 237.8%
Total debt has risen sharply - up 131.0% 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	2131.35	33.73	13319.14	0.23	90.10	36.93	886.80	20.82	21.22	9.59
2.	IONEXCHANG	438.55	65.58	6432.06	0.28	3.06	-93.68	700.46	20.11	13.46	4.59
3.	REFEX	273.15	15.24	3748.40	0.55	64.55	216.87	916.30	139.09	24.06	11.67
4.	AWHCL	376.95	18.31	1069.86	0.13	0.75	-96.74	260.99	5.52	13.11	14.25
5.	ECORECO	445.35	36.33	872.74	0.00	9.17	13.35	16.19	75.22	34.24	56.27
6.	CEWATER	280.20	112.36	579.91	0.00	-17.57	-526.54	85.35	-16.65	6.86	-18.72
7.	FELIX	222.30	19.01	382.50	0.00	5.51	54.51	28.22	36.86	20.39	32.07
8.	RACE	97.00	22.25	167.39	0.00	1.03	150.00	191.06	21.91	10.23	1.99
9.	BANKA	77.56	238.33	85.08	0.00	-0.39	-19600.00	105.51	847.04	-8.20	17.27

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	6	6	6	13	13	15	20	29	20
	5	4	5	9	8	8	12	20	13
Operating Profit	1	1	2	4	5	7	8	8	7
OPM %	14.55%	26.18%	28.53%	32.83%	37.58%	44.28%	39.70%	29.40%	34.89%
	1	1	1	1	0	1	1	2	1
Interest	0	0	0	0	1	1	1	1	1
Depreciation	0	0	0	0	0	0	0	0	0
Profit before Tax	2	2	2	5	4	7	8	9	8
Tax %	26.84%	26.84%	28.78%	29.85%	27.99%	29.94%	30.77%	29.41%	28.41%
Net Profit	1	1	1	3	3	5	5	7	6
	4.39	1.05	1.10	2.47	2.33	3.22	2.86	4.13	3.35

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	5	5	2	2	3	12	19	29	31	77	85
	5	5	3	2	3	11	17	24	22	49	54
Operating Profit	0	0	-1	-0	-0	2	2	5	9	28	30
OPM %	8.66%	7.42%	-53.69%	-22.94%	-15.89%	14.42%	11.02%	16.99%	29.50%	36.43%	35.88%
	0	0	0	0	0	0	0	1	2	3	4
Interest	0	0	0	0	0	0	1	1	0	3	3
Depreciation	0	0	0	0	0	0	0	0	0	1	1
Profit before Tax	0	0	-1	-1	-1	1	1	5	11	28	32
Tax %	33.55%	31.85%	-2.94%	59.97%	22.03%	36.67%	18.17%	29.49%	28.65%	29.73%	29.60%
Net Profit	0	0	-1	-0	-1	1	1	4	8	20	22
EPS	0.00	0.00	0.00	0.00	-1.18	1.63	2.30	3.02	5.50	11.51	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 38%
5 Years:: 92%
3 Years:: 59%

COMPOUNDED PROFIT GROWTH

10 Years:: 68%
5 Years:: —
3 Years:: 157%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 39%
3 Years:: 21%
1 Year:: 28%

RETURN ON EQUITY

10 Years:: 6%
5 Years:: 15%
3 Years:: 16%
Last Year:: 19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	4	5	5	5	5	5	5	12	14	17
	0	4	3	2	2	2	4	27	55	128
	1	0	1	2	3	4	4	2	12	23
Trade Payables	1	1	1	1	1	3	2	3	3	7
	0	0	0	-0	0	1	10	29	33	29
Total Liabilities	6	10	10	10	11	15	24	73	117	203
	1	2	3	3	4	4	4	5	6	14
Capital Work in Progress	0	0	0	0	0	1	1	1	19	17
	0	0	0	0	0	0	1	6	25	31
	1	1	2	3	2	3	5	10	12	13
	0	0	0	0	0	0	0	13	16	28
Cash & Bank	0	2	0	0	0	0	0	4	2	8
	4	6	4	4	5	7	14	34	37	92
Total Assets	6	10	10	10	11	15	24	73	117	203

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-2	-1	0	-1	-0	1	-6	-33	9	-38
Cash from Investing	-1	-1	-2	-0	-1	-1	-1	-5	-36	-11
Cash from Financing	3	4	0	1	1	1	7	42	25	55
	0	2	-1	-0	0	-0	0	4	-2	5

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	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

2131.35

33.73

13319.14

0.23

90.10

36.93

886.80

20.82

21.22

9.59

IONEXCHANG

438.55

65.58

6432.06

0.28

3.06

-93.68

700.46

20.11

13.46

4.59

REFEX

273.15

15.24

3748.40

0.55

64.55

216.87

916.30

139.09

24.06

11.67

AWHCL

376.95

18.31

1069.86

0.13

0.75

-96.74

260.99

5.52

13.11

14.25

ECORECO

445.35

36.33

872.74

0.00

9.17

13.35

16.19

75.22

34.24

56.27

CEWATER

280.20

112.36

579.91

0.00

-17.57

-526.54

85.35

-16.65

6.86

-18.72

FELIX

222.30

19.01

382.50

0.00

5.51

54.51

28.22

36.86

20.39

32.07

RACE

97.00

22.25

167.39

0.00

1.03

150.00

191.06

21.91

10.23

1.99

BANKA

77.56

238.33

85.08

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 %

14.55%

26.18%

28.53%

32.83%

37.58%

44.28%

39.70%

29.40%

34.89%

Interest

Depreciation

Profit before Tax

Tax %

26.84%

28.78%

29.85%

27.99%

29.94%

30.77%

29.41%

28.41%

Net Profit

4.39

1.05

1.10

2.47

2.33

3.22

2.86

4.13

3.35

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

Operating Profit

-1

-0

OPM %

8.66%

7.42%

-53.69%

-22.94%

-15.89%

14.42%

11.02%

16.99%

29.50%

36.43%

35.88%

Interest

Depreciation

Profit before Tax

-1

Tax %

33.55%

31.85%

-2.94%

59.97%

22.03%

36.67%

18.17%

29.49%

28.65%

29.73%

29.60%

Net Profit

-1

-0

-1

EPS

0.00

-1.18

1.63

2.30

3.02

5.50

11.51

—

Dividend Payout %

0.00%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

128

Trade Payables

-0

Total Liabilities

117

203

Capital Work in Progress

Cash & Bank

Total Assets

117

203

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-2

-1

-0

-6

-33

-38

Cash from Investing

-1

-2

-0

-1

-5

-36

-11

Cash from Financing

-1

-0

-2

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

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

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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