Polychem Ltd

₹ 1,999 2.29%

09 Jun 3:31 p.m.

About

Incorporated in 1956, Polychem Ltd manufactures specialty chemicals and also does property development^[1]

Key Points

Business Overview:^[1]^[2]
The company's polymer division specializes in manufacture of Polymers & Co-Polymers from
Styrene, Di vinyl Benzene, Acrylic Acid and Acrylates through either suspension or emulsion polymerization routes. Apart from this, the company is also, in the business of property development, and manufacturing and trading of capacitors

Website BSE

Market Cap ₹ 80.0 Cr.
Current Price ₹ 1,999
High / Low ₹ 3,725 / 1,786
Stock P/E 23.7
Book Value ₹ 841
Dividend Yield 1.51 %
ROCE 12.0 %
ROE 10.2 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.
Company has been maintaining a healthy dividend payout of 21.7%

Cons

The company has delivered a poor sales growth of 0.69% over past five years.
Tax rate seems low
Earnings include an other income of Rs.3.12 Cr.

* 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.

Peer comparison

Commodities Chemicals Chemicals & Petrochemicals Commodity Chemicals

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	7.35	10.08	9.65	8.48	7.03	8.86	8.02	9.48	10.52	8.32	2.71	6.33	6.46
	7.03	9.19	8.55	6.61	6.29	7.48	6.32	7.60	8.16	6.80	3.75	5.57	5.95
Operating Profit	0.32	0.89	1.10	1.87	0.74	1.38	1.70	1.88	2.36	1.52	-1.04	0.76	0.51
OPM %	4.35%	8.83%	11.40%	22.05%	10.53%	15.58%	21.20%	19.83%	22.43%	18.27%	-38.38%	12.01%	7.89%
	3.25	0.02	0.25	0.23	0.12	0.36	0.24	0.34	0.38	0.87	1.65	0.18	0.41
Interest	0.01	0.01	0.02	0.02	0.02	0.02	0.03	0.03	0.03	0.03	0.03	0.03	0.02
Depreciation	0.12	0.10	0.10	0.14	0.21	0.19	0.21	0.21	0.21	0.17	0.21	0.21	0.22
Profit before tax	3.44	0.80	1.23	1.94	0.63	1.53	1.70	1.98	2.50	2.19	0.37	0.70	0.68
Tax %	-2.62%	6.25%	20.33%	23.20%	22.22%	20.92%	21.76%	22.73%	21.20%	19.63%	-5.41%	10.00%	13.24%
	3.52	0.75	0.98	1.49	0.50	1.21	1.33	1.53	1.96	1.76	0.39	0.64	0.58
EPS in Rs	87.13	18.56	24.26	36.88	12.38	29.95	32.92	37.87	48.51	43.56	9.65	15.84	14.36
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	15.03	17.79	12.63	14.39	16.27	18.91	23.01	10.94	20.42	35.22	36.87	23.81
	14.40	16.73	12.93	14.99	17.00	18.90	20.08	11.37	20.63	30.39	29.49	22.08
Operating Profit	0.63	1.06	-0.30	-0.60	-0.73	0.01	2.93	-0.43	-0.21	4.83	7.38	1.73
OPM %	4.19%	5.96%	-2.38%	-4.17%	-4.49%	0.05%	12.73%	-3.93%	-1.03%	13.71%	20.02%	7.27%
	1.04	0.72	1.08	1.45	0.83	0.87	0.72	1.29	3.87	0.46	1.28	3.12
Interest	0.04	0.00	0.00	0.04	0.01	0.00	0.03	0.07	0.05	0.14	0.13	0.10
Depreciation	0.14	0.30	0.23	0.18	0.19	0.18	0.51	0.51	0.47	0.55	0.82	0.81
Profit before tax	1.49	1.48	0.55	0.63	-0.10	0.70	3.11	0.28	3.14	4.60	7.71	3.94
Tax %	4.03%	35.81%	23.64%	-30.16%	40.00%	0.00%	22.51%	-7.14%	-3.18%	19.13%	21.66%	14.72%
	1.44	0.94	0.42	0.83	-0.14	0.70	2.41	0.29	3.23	3.72	6.04	3.37
EPS in Rs	35.64	23.27	10.40	20.54	-3.47	17.33	59.65	7.18	79.95	92.08	149.50	83.42
Dividend Payout %	0.00%	10.64%	23.81%	12.05%	0.00%	14.29%	20.75%	0.00%	3.72%	21.51%	19.87%	23.74%

Compounded Sales Growth
10 Years:	3%
5 Years:	1%
3 Years:	5%
TTM:	-35%

Compounded Profit Growth
10 Years:	14%
5 Years:	7%
3 Years:	2%
TTM:	-44%

Stock Price CAGR
10 Years:	18%
5 Years:	45%
3 Years:	46%
1 Year:	-32%

Return on Equity
10 Years:	10%
5 Years:	13%
3 Years:	15%
Last Year:	10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.40	0.40	0.40	0.40	0.40	0.40	0.40	0.40	0.40	0.40	0.40	0.40
Reserves	14.95	15.77	16.07	17.13	16.85	17.53	19.77	19.58	22.77	26.31	31.48	33.57
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.41	1.22	0.21
	2.41	1.21	1.19	1.59	1.84	1.86	2.78	2.23	3.58	3.14	2.24	3.18
Total Liabilities	17.76	17.38	17.66	19.12	19.09	19.79	22.95	22.21	26.75	30.26	35.34	37.36
	0.69	0.64	0.54	0.42	0.54	0.97	1.42	1.14	0.75	1.98	2.48	2.00
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	1.44	3.44	3.33	4.05	4.23	8.59	9.28	11.30	14.88	16.49	18.09	22.94
	15.63	13.30	13.79	14.65	14.32	10.23	12.25	9.77	11.12	11.79	14.77	12.42
Total Assets	17.76	17.38	17.66	19.12	19.09	19.79	22.95	22.21	26.75	30.26	35.34	37.36

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-4.32	1.85	0.41	-0.13	-0.85	-0.95	2.81	0.75	-2.31	4.49	3.97	2.19
	4.08	-1.52	0.24	0.27	1.35	0.43	-0.74	0.80	-0.44	-3.03	-2.41	-0.58
	-0.03	0.00	-0.10	-0.10	-0.11	0.00	-0.34	-0.76	-0.24	-0.37	-1.09	-1.49
Net Cash Flow	-0.27	0.33	0.55	0.04	0.38	-0.51	1.73	0.80	-2.99	1.08	0.46	0.12

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	97.62	45.96	68.20	60.37	72.69	71.03	64.56	94.42	109.75	33.47	39.40	37.40
Inventory Days	82.62	75.82	120.45	90.83	77.73	73.13	69.91	145.58	74.97	88.71	90.35	153.23
Days Payable	71.67	18.34	38.06	39.95	46.64	29.19	25.36	52.94	48.92	26.06	11.74	15.26
Cash Conversion Cycle	108.57	103.44	150.59	111.25	103.78	114.97	109.10	187.06	135.80	96.13	118.01	175.37
Working Capital Days	245.76	196.14	262.12	228.03	196.52	116.78	72.97	122.78	105.82	60.11	74.15	96.42
ROCE %	7.59%	9.39%	3.37%	4.00%	-0.46%	4.04%	16.64%	1.79%	14.60%	18.97%	26.17%	12.01%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	52.09%	52.09%	52.09%	52.09%	52.09%	52.09%	52.09%	52.09%	52.09%	52.09%	52.09%	52.09%
	3.08%	2.99%	2.99%	2.99%	2.99%	2.99%	2.99%	2.99%	2.99%	2.99%	2.99%	2.99%
	44.83%	44.91%	44.93%	44.94%	44.92%	44.93%	44.91%	44.93%	44.92%	44.93%	44.93%	44.92%
No. of Shareholders	9,711	6,007	5,967	5,931	6,021	5,839	5,888	5,899	5,988	6,063	5,835	5,792

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	52.09%	52.09%	52.09%	52.09%	52.09%	52.09%	52.09%	52.09%	52.09%
	4.30%	4.30%	4.30%	4.30%	4.30%	3.25%	2.99%	2.99%	2.99%
	43.61%	43.61%	43.61%	43.61%	43.61%	44.66%	44.94%	44.93%	44.92%
No. of Shareholders	10,268	10,002	9,848	9,741	9,751	9,738	5,931	5,899	5,792

* 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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Polychem Ltd

Polychem Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports