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Flair Writing Industries Limited (FLAIR) Fair Value & Analysis

Industrials · IN · Market cap ₹28.0B

FW Flair Writing Industries Limited FLAIR · NSE
Price₹249.45
Fair Value₹250.43
Upside+0.4%
Quality49/100
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Mixed Growth
Solidly profitable · 11.2% net margin
Low debt · negative free cash flow
0.37% dividend yield
Mixed vs. peers (7/13)
Moderate moat 59/100
Evidence: High Range ₹186.52 – ₹314.34 Share as image

Fair value as of: Aug 2, 2026

From 17 valuation models · updated 11 days ago

Share price −5.6% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from ₹186.52 (bear) to ₹314.34 (bull), base ₹250.43. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 49/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (3 years)

₹448.77 ₹196.41 Fair Value ₹250.43 Dec 2023 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

32‑month range ₹196.41 – ₹448.77 · fair‑value band ₹186.52 – ₹314.34 · the ₹249.45 price screens below the ₹250.43 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Flair Writing Industries Limited (FLAIR) currently trades at ₹249.45, while our model-based Fair Value estimate is ₹250.43, implying the stock looks roughly 0.4% fairly valued today. The Quality Score stands at 49/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Flair Writing Industries Limited generated revenue of ₹12.5B at a net margin of 11.2%. Revenue grew 8.4% year over year. It earns a return on equity of 13.1%. Net debt stands at ₹550M. Fundamentals as of Aug 2, 2026

Our scenario range runs from ₹186.52 (bear case) to ₹314.34 (bull case); at ₹249.45, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 30% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -57% fair-value upside, at 0%, FLAIR screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ₹100.77 ₹122.61 ₹296.63 76
ROIC Compounder ₹115.24 ₹164.27 ₹210.24 72
Gordon GGM ₹13.77 ₹28.64 ₹45.43 70
All 17 models by family
DCF Models
Owner Earnings ₹71.97 ₹157.38 ₹329.39 31
Earnings-Based
Graham-Dodd ₹90.19 ₹580.74 ₹812.13 54
Lynch FV ₹168.42 ₹240.60 ₹312.78 50
PEG = 1.0 ₹168.42 ₹240.60 ₹312.78 46
EPV ₹112.00 ₹130.94 ₹147.52 59
Dividend Discount
Gordon GGM ₹13.77 ₹28.64 ₹45.43 70
DDM Multi-Stage ₹13.77 ₹24.15 ₹30.05 61
Multiples
P/E Multiple ₹218.85 ₹291.80 ₹364.74 63
P/S Multiple ₹106.75 ₹142.33 ₹177.92 58
P/B Multiple ₹169.11 ₹225.48 ₹281.85 55
EV/EBIT ₹217.99 ₹291.21 ₹364.42 53
EV/EBITDA ₹190.09 ₹254.00 ₹317.91 54
EV/Revenue ₹97.99 ₹140.69 ₹183.39 43
Asset-Based
NCAV (Graham) ₹54.16 ₹72.57 ₹108.32 50
Economic Profit
Residual Income ₹100.77 ₹122.61 ₹296.63 76
ROIC Compounder ₹115.24 ₹164.27 ₹210.24 72
Growth Earnings
Growth-Adj P/E ₹242.71 ₹346.73 ₹450.75 68

Widest divergence: Growth Earnings (₹346.73) versus Dividend Discount (₹24.15). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹12.5B
Revenue growth (YoY) +8.4%
Net margin 11.2%
Return on equity 13.1%
Free cash flow −₹28.6M FY2026
P/E ratio 23.8
More key figures
Operating margin 13.6%
EPS (TTM) ₹11.19
Dividend yield 0.4%
EPS growth (YoY) +16.0%
Net debt ₹550M FY2026

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 50 · Market factors (momentum, volatility) 32

Profitability 56
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 24
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 16
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 60
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Flair Writing Industries Limited manufactures and sells writing instruments, stationeries, and other allied products in India and internationally.

Full company description

Flair Writing Industries Limited manufactures and sells writing instruments, stationeries, and other allied products in India and internationally. The company offers ball, fountain, gel, roller, plastic, and metal pens; stationery products, including mechanical pencils, highlighters, correction pens, markers, gel crayons, and student stationery kits and calculators under the Flair, Hauser, Pierre Cardin, Flair Creative, Flair Designer Houseware, HAUSER ARTZ, and the ZOOX brands. It also provides a range of houseware products, including steel bottles, lunch boxes, storage containers, and kitchen accessories. The company also exports its products. Flair Writing Industries Limited was founded in 1976 and is based in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Flair Writing Industries Limited reported revenue of ₹12.5B in FY2026 versus ₹5.7B in FY2022, a compound +21.7%/yr. Reported net income was ₹1.4B in FY2026, compounding +26.2%/yr from FY2022.

Growth Quality 60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹12.5B
Latest YoY
+15.8%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.2%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+33.8%
Avg. growth/yr (12Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+14.0%
Revenue +21.7%/yr
FY22 ₹5.7B
FY23 ₹9.3B
FY24 ₹9.7B
FY25 ₹10.8B
FY26 ₹12.5B
Net income +26.2%/yr
FY22 ₹552M
FY23 ₹1.2B
FY24 ₹1.2B
FY25 ₹1.2B
FY26 ₹1.4B
Character of growth · EPS growth decomposed (2015-2026) −5.6 % p.a.
Revenue per share −4.2 pp

of which total revenue +13.0 pp · buybacks/dilution −17.2 pp

EBIT margin +6.1 pp
Tax rate +0.0 pp
Residual (interest, one-offs) −7.5 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Flair Writing Industries Limited Fair Value". https://www.fairvalue-calculator.com/stock/FLAIR

Peer Group

Business Equipment & Supplies · 74 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 49 · Below median
Fair Value upside +0% · Above median
Return on equity (TTM) 13% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 14% · Top 25%
Revenue growth 8% · Above median
Dividend yield (TTM) 0.4% · Bottom 25%
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Business Equipment & Supplies median · lower = cheaper

P/E (TTM) 23.8× · Pricier than median
P/B 2.46× · Pricier than 75% of peers
P/S (TTM) 2.24× · Pricier than 75% of peers
EV/EBITDA 12.6× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 34 · sector 31
FUTURE 42 · sector 19
PAST 52 · sector 21
HEALTH 99 · sector 99
DIVIDEND 7 · sector 52

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Business Equipment & Supplies stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
GRG Banking Equipment Co 002152 ¥10.08 ¥6.90 -32%
Shanghai M&G Stationery Inc 603899 ¥22.83 ¥30.05 +32%
XGD Inc 300130 ¥19.30 ¥15.67 -19%
DOMS Industries Limited DOMS ₹2,260 ₹782.96 -65%
Hengbao Co 002104 ¥9.20 ¥1.66 -82%
Shaanxi Fenghuo Electronics Co 000561 ¥7.63 ¥1.75 -77%
Shenzhen Comix Group 002301 ¥7.30 ¥3.11 -57%
Shandong New Beiyang Information Technology Co 002376 ¥6.00 ¥1.73 -71%
Cashway Fintech Co 603106 ¥9.04 ¥1.20 -87%
Qingdao Hiron Commercial Cold Chain Co 603187 ¥12.77 ¥21.12 +65%

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Frequently asked questions

Is Flair Writing Industries Limited (FLAIR) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of ₹250.43 versus a price of ₹249.45, about +0% (fairly valued).
What is the fair value of FLAIR?
Our model-based fair value for Flair Writing Industries Limited is ₹250.43 (as of Aug 2, 2026), built from audited fundamentals. The current price is ₹249.45.
What is the quality score of FLAIR?
Flair Writing Industries Limited has a Quality Score of 49/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Flair Writing Industries Limited (FLAIR)?
Flair Writing Industries Limited reported trailing-twelve-month revenue of about ₹12.5B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of FLAIR?
The net profit margin of Flair Writing Industries Limited is about 11.2%, meaning it keeps roughly 11.2% of revenue as net income. Based on the latest reported figures.
Does Flair Writing Industries Limited pay a dividend?
Flair Writing Industries Limited currently shows a dividend yield of about 0.37% relative to its recent price (as of Aug 2, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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