Bhansali Engineering Polymers Ltd

Bhansali Engineering Polymers Ltd

₹ 99.6 -3.77%
24 Apr - close price
About

Bhansali Engineering Polymers Ltd is engaged in manufacturing and sale of ABS Resins, AES Resins, ASA resins, SAN resins and their alloys with other plastics in the Indian market.
Its customers include leading companies dealing in Automobiles, Home Appliances, Electronics, Healthcare and Kitchenware.[1]

Key Points

Business Overview
Company manufactures ABS (Acrylonitrile Butadiene Styrene) and SAN (Styrene Acrylonitrile) resins. ABS is used to make light, rigid, molded products such as pipe, automotive body parts, wheel covers, enclosures, and protective headgear. SAN is a plastic copolymer with thermal resistant and chemical resistant nature and its uses including housewares and consumer goods, various compounded products, packaging, appliances (electrical and electronic). [1]

  • Market Cap 2,478 Cr.
  • Current Price 99.6
  • High / Low 124 / 74.2
  • Stock P/E 13.7
  • Book Value 43.5
  • Dividend Yield 4.02 %
  • ROCE 23.8 %
  • ROE 17.3 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 55.3%

Cons

  • The company has delivered a poor sales growth of -0.25% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
328 294 314 292 321 340 367 346 345 308 325 301 342
306 238 257 245 270 278 314 294 297 255 276 251 278
Operating Profit 22 57 58 47 51 62 53 52 48 53 49 51 64
OPM % 7% 19% 18% 16% 16% 18% 14% 15% 14% 17% 15% 17% 19%
8 13 9 10 9 12 12 7 8 12 8 10 10
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 2 2 2 2 2 2 2 2 2 2 2 2 2
Profit before tax 27 67 64 54 58 71 63 56 54 63 55 58 72
Tax % 49% 24% 26% 26% 28% 25% 25% 28% 27% 26% 27% 28% 28%
14 50 48 40 41 53 47 41 39 47 40 42 52
EPS in Rs 0.57 2.02 1.93 1.61 1.66 2.13 1.89 1.63 1.58 1.88 1.61 1.69 2.08
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
601 531 626 1,032 1,225 1,104 1,292 1,394 1,363 1,222 1,398 1,276
575 493 562 877 1,146 1,018 845 931 1,186 1,010 1,183 1,060
Operating Profit 25 37 64 154 79 86 447 463 177 212 215 216
OPM % 4% 7% 10% 15% 6% 8% 35% 33% 13% 17% 15% 17%
2 3 8 14 7 6 10 19 29 41 38 40
Interest 14 11 10 8 1 0 1 0 1 0 0 0
Depreciation 5 6 5 6 7 10 10 10 10 10 9 8
Profit before tax 9 23 57 154 77 83 446 472 195 243 244 248
Tax % 38% 29% 37% 35% 40% 19% 25% 26% 30% 26% 26% 27%
5 17 36 100 47 67 333 349 136 180 180 180
EPS in Rs 0.22 0.67 1.43 4.00 1.87 2.68 13.40 14.04 5.46 7.22 7.23 7.25
Dividend Payout % 31% 10% 9% 5% 18% 12% 5% 14% 207% 55% 55% 55%
Compounded Sales Growth
10 Years: 9%
5 Years: 0%
3 Years: -2%
TTM: -9%
Compounded Profit Growth
10 Years: 27%
5 Years: -12%
3 Years: 10%
TTM: 0%
Stock Price CAGR
10 Years: 23%
5 Years: -1%
3 Years: 14%
1 Year: -10%
Return on Equity
10 Years: 25%
5 Years: 21%
3 Years: 18%
Last Year: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 17 17 17 17 17 17 17 17 17 25 25 25
Reserves 169 111 146 242 282 340 664 964 1,050 896 976 1,057
42 32 137 0 0 0 0 0 0 0 0 0
169 191 121 166 230 297 96 127 99 133 102 202
Total Liabilities 396 350 421 424 529 653 777 1,107 1,165 1,054 1,102 1,284
122 82 93 107 144 150 141 145 140 133 137 133
CWIP 0 0 0 6 0 2 0 0 0 19 11 31
Investments 1 2 2 2 2 2 2 1 1 1 1 1
273 267 326 309 384 500 634 962 1,024 902 953 1,119
Total Assets 396 350 421 424 529 653 777 1,107 1,165 1,054 1,102 1,284

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
36 56 78 192 53 88 103 298 140 230 108 167
-6 -35 -12 -16 -55 -43 -21 -300 -15 45 236 -29
-33 -23 -65 -149 -7 -10 -9 -50 -50 -324 -100 -100
Net Cash Flow -3 -2 2 27 -8 35 74 -52 75 -49 244 39
Free Cash Flow 33 22 64 164 17 72 103 284 135 209 102 132
CFO/OP 147% 160% 143% 152% 109% 127% 48% 91% 112% 138% 80% 108%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 89 91 80 66 67 51 82 74 64 69 67 73
Inventory Days 54 74 94 39 36 85 60 96 63 60 44 79
Days Payable 116 158 67 62 70 111 19 34 23 40 21 65
Cash Conversion Cycle 27 6 107 43 33 25 123 136 104 89 89 86
Working Capital Days 32 22 34 44 45 44 107 157 136 148 117 129
ROCE % 9% 18% 29% 58% 28% 25% 86% 57% 19% 24% 25% 24%

Insights

In beta
Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Installed Production Capacity (ABS & SAN)
TPA

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Sales Volume
MT
Production Volume
MT
Capacity Utilization
%
Marketing Offices
Number
R&D Expenditure (Percentage of Turnover)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
57.48% 57.48% 57.48% 57.48% 57.48% 57.48% 57.48% 57.48% 57.48% 57.48% 57.48% 57.48%
1.03% 0.95% 1.13% 1.12% 2.09% 1.66% 1.50% 1.53% 1.44% 1.42% 1.13% 1.36%
0.00% 0.04% 0.05% 0.06% 0.07% 0.13% 0.10% 0.11% 0.13% 0.00% 0.00% 0.00%
41.51% 41.54% 41.35% 41.35% 40.36% 40.75% 40.92% 40.90% 40.97% 41.10% 41.36% 41.16%
No. of Shareholders 1,07,5251,13,6411,15,6301,22,6801,08,3521,26,9051,23,0061,21,8051,19,8301,17,4201,16,2731,13,545

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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