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Flair Writing Industries Ltd

₹ 313-0.51%
05 Jan – close price
🔗flairworld.in•BSE: 544030•NSE: FLAIR
Market Cap₹ 3,295 Cr.
Current Price₹ 313
High / Low₹ 357
Stock P/E27.9
Book Value₹ 100.0
Dividend Yield0.32 %
ROCE15.6 %
ROE11.9 %
Face Value₹ 5.00
Sales₹ 991 Cr.
OPM15.6 %
Mar Cap₹ 3,295 Cr.

ABOUT

Incorporated in 1976, Flair Writing Industries (Flair) is engaged in developing and manufacturing writing instruments and is among the Top 3 players in the overall writing instruments industry[1]

KEY POINTS

Market Leadership[1]Flair is one of India’s largest writing instrument companies; Top 3 player in the industry and the largest pen exporter from India, with presence in 115 countries.

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsRevenue GuidanceCapacity Expansion And ProductsOrder Book PositionJv Partnerships AcquisitionsRevenue Guidance Vs ActualsRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.DOMS Industries2661.6075.2316152.670.1260.8613.52567.9124.0626.182140.0317.49214.7258.2714.7015.830.15
2.Flair Writing312.6527.913295.190.3236.4714.08263.248.8315.62991.0715.63118.0736.473.1310.070.03
3.Kokuyo Camlin91.8850.78921.590.007.86173.94174.381.083.65762.366.4818.157.862.871.230.04
4.Linc122.1218.62726.481.2310.1715.83135.630.7422.43539.0211.3939.0110.173.0012.280.08
5.Sundaram Multi.1.81–85.770.000.83145.6626.038.46-2.20127.700.65-3.390.791.25-4.160.31
6.Alkosign75.0095.2280.940.000.39-88.2226.34-5.5912.7849.979.830.850.392.427.390.40
7.Gala Global2.02–11.030.00-0.26-114.369.7963.99-1.8236.30-15.95-8.97-0.260.31-4.020.82
–Median: 4 Co.217.3839.342108.390.2223.3214.96218.814.9619.02876.7213.5178.5423.323.0611.180.06

Quarterly Results

Standalone figures in ₹ crores

Dec 2022Dec 2023Dec 2024Jun 2023Jun 2024Jun 2025Mar 2023Mar 2024Mar 2025Sep 2023Sep 2024Sep 2025
Sales
224215229230222242244229257244242263
Expenses
173182194183187204197185218194199220
Operating Profit
513335483538474439514343
Other Income
36103882884914
Profit before tax
452936423536404337454347
Tax %
27%26%25%25%26%26%26%25%27%25%25%22%
Net Profit
332127312627303228333236
EPS in Rs
14.132.032.563.322.442.573.183.082.613.573.033.46

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
503613581289554903919949991
Expenses
410495488267461732743797836
Operating Profit
93117932393171176153155
Other Income
755121114203540
Interest
1718151199844
Depreciation
151823222324293335
Profit before tax
678660272151158151157
Net Profit
536538054112118112118
EPS in Rs
2,444.6027.8416.330.2123.0811.9511.2110.6411.20
Dividend Payout %
0%0%0%0%0%0%0%9%–

Compounded Profit Growth

10 Years:%
5 Years:24%
3 Years:28%
TTM:6%

Compounded Sales Growth

10 Years:%
5 Years:10%
3 Years:20%
TTM:9%

Return on Equity

10 Years:%
5 Years:16%
3 Years:17%
Last Year:12%

Stock Price CAGR

10 Years:%
5 Years:%
3 Years:%
1 Year:14%

Balance Sheet

Standalone figures in ₹ crores

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
0.222323232347535353
Reserves
1581992362362903798369491,001
Borrowings
16919616812211899563932
Other Liabilities
8411111385107109128116149
Total Liabilities
4125295394675396341,0731,1561,235
Fixed Assets
144182195178181200251294291
Gross Block
169.31225.64263.95266.21288.02328.76407.56483.85–
Accumulated Depreciation
25.4743.6868.7587.91107.50128.68157.05189.66–
CWIP
830002201233
Investments
000160443588
Other Assets
260343344273358429799815823
Total Assets
4125295394675396341,0731,1561,235

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
4536–70237910658
Cash from Investing Activity
-51-52–-16-8-46-328-29
Cash from Financing Activity
017–-57-15-32274-28
Net Cash Flow
-61–-3-00512

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
849610313993657783
Inventory Days
123147180287220138147165
Days Payable
7671718558394534
Cash Conversion Cycle
130172211341255164178214
Working Capital Days
11013415123214285117138
ROCE %
–28%18%3%20%34%23%16%

Shareholding Pattern

Numbers in percentages

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
78.59%78.59%78.59%78.59%78.59%78.59%78.59%78.59%
FIIs
1.38%0.25%0.14%0.02%0.09%0.06%0.05%0.44%
DIIs
9.57%10.85%11.34%11.37%10.51%9.55%10.23%10.58%
Public
10.46%10.30%9.92%10.02%10.82%11.80%11.14%10.39%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Flair Writing Industries receives CGST order for ₹73.14 lakh demand; plans appeal

28th March 2026, 12:04 am

Flair Writing Industries to Close Trading Window from April 1, 2026, for Financial Results

27th March 2026, 10:46 pm

Flair Writing Industries Appoints Price Waterhouse as Statutory Auditor for Five Years

11th March 2026, 10:50 pm

Flair Writing Industries Begins Wooden Pencil Production Via Subsidiary

24th February 2026, 3:26 pm

Flair Writing Industries: CGST Proceedings Dropped for FY18 Tax Demand, No Material Impact

6th February 2026, 11:40 pm

Published by Other Websites

External media mentions & references

Stationery Stocks Shine as Nirmal Bang Initiates 'Buy' on Linc, DOMS

10th March 2026, 8:03 am

Flair Writing Industries Stock: Prabhudas Lilladher Sets ₹413 Target

6th March 2026, 3:05 pm

Flair Writing Expands Pencil Production, Targets Stationery Dominance

24th February 2026, 7:06 pm

47+ Stocks Go Ex-Dividend Next Week: Income Alert for Investors

30th January 2026, 2:53 pm

Flair Writing Industries Launches 'The Right Move' Campaign for Eco-Friendly Pencils

10th October 2025, 5:21 pm

News Articles

Editorial & research coverage

Flair Writing Industries Surges on Strong Q3 Results, Beats Guidance
Flair Writing Industries Surges on Strong Q3 Results, Beats Guidance

Documents

Announcements

Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015

31 Dec - CGST Section 74 proceedings dropped for FY2018-19; ITC disallowance Rs.27,54,100; order received 31-Dec-2025.

Closure of Trading Window
Outcome Of Board Meeting Held On December 19, 2025

19 Dec - Board approved corporate guarantee up to ₹20 crore for step-down subsidiary; disclosure delay fined and paid.

Issuance Of Corporate Guarantee To Step Down Subsidiary Of The Company.

19 Dec - Board approved corporate guarantee up to ₹20,00,00,000 to step-down subsidiary; disclosure delay fined and paid.

Board Meeting Outcome for OUTCOME OF BOARD MEETING

19 Dec - Board approved corporate guarantee up to ₹20 crore to step-down subsidiary Flomaxe; one-day RPT disclosure delay; fine paid.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Credit Ratings

No credit ratings.

Concalls

Nov 2025

TranscriptPPTRecording

Aug 2025

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May 2025

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Feb 2025

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Nov 2024

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Aug 2024

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Jun 2024

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Feb 2024

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Dec 2023

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Stock Analysis

Description

  1. Incorporated in 1976, Flair Writing Industries (Flair) is engaged in developing and manufacturing writing instruments and is among the Top 3 players in the overall writing instruments industry.

Key Growth Triggers

  1. Expansion of manufacturing capacity with a new Valsad facility and commitment to increasing in-house production.
  2. The Own Brand portfolio, Creative segment, and Steel Bottles & Houseware segment are key growth drivers.
  3. Management reiterates medium-term growth guidance of 15-16% CAGR.

Order Book

  1. Currently no data available for Order Book.

Key Red Flags

  1. Flair Writing Industries received a show cause notice from CGST for Rs. 1.46 Cr for FY2019-20, for which an appeal is planned with no expected material impact.
  2. CGST proceedings initiated under Section 74 for FY 2018-19 have been dropped.

Key Dates To Watch

  1. Trading window closure from January 1, 2026, until 48 hours post declaration of Q3 FY26 results.
  2. Board Meeting to approve Q2 FY26 results was held on November 6, 2025, followed by an earnings call on November 7, 2025.

Corporate Announcements

27th Mar 26
Impact Rating: 7
Flair Writing Industries Limited received a final order from CGST Mumbai East confirming a demand of ₹73,14,189 for ITC, ₹13,54,399 IGST, ₹29,79,895 CGST/SGST each, and ₹73,14,189 penalty. The company intends to appeal.
27th Mar 26
Impact Rating: 6
Flair Writing Industries Limited will close its trading window from April 1, 2026, until 48 hours after declaring its Audited Financial Results for the quarter and year ending March 31, 2026, as per SEBI norms.
11th Mar 26
Impact Rating: 5
Flair Writing Industries Limited's Board of Directors approved the appointment of Price Waterhouse Chartered Accountants LLP as the company's Statutory Auditor for a five-year tenure.
24th Feb 26
Impact Rating: 8
Flair Writing Industries has commenced manufacturing of wooden pencils at its subsidiary Flomaxe Stationery in Surat. This new line adds an annual capacity of 84 million pieces, strengthening its creative segment.
6th Feb 26
Impact Rating: 3
Flair Writing Industries Limited has been informed that proceedings under Section 74 of CGST Act for FY18, related to disallowed ITC and a ₹14.65 Lakh demand, have been dropped by authorities.