National Plastic Industries Ltd
Incorporated in 1952, National Plastic Ltd is a manufacturer of homeware products including furniture, housewares and Matts[1]
- Market Cap ₹ 40.7 Cr.
- Current Price ₹ 44.6
- High / Low ₹ 72.0 / 43.7
- Stock P/E 7.34
- Book Value ₹ 48.6
- Dividend Yield 0.00 %
- ROCE 9.43 %
- ROE 9.46 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Stock is trading at 0.92 times its book value
- Debtor days have improved from 65.3 to 45.1 days.
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of -3.22% over past five years.
- Company has a low return on equity of 8.74% over last 3 years.
- Company might be capitalizing the interest cost
* 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
Industrials Capital Goods Industrial Products Plastic Products - Industrial
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 75.96 | 83.53 | 97.22 | 94.35 | 103.58 | 111.60 | 114.19 | 76.45 | 82.64 | 112.00 | 98.38 | 96.95 | 99.99 | |
| 67.90 | 76.15 | 87.13 | 86.93 | 95.12 | 103.36 | 108.36 | 70.26 | 75.22 | 100.32 | 88.76 | 87.26 | 88.56 | |
| Operating Profit | 8.06 | 7.38 | 10.09 | 7.42 | 8.46 | 8.24 | 5.83 | 6.19 | 7.42 | 11.68 | 9.62 | 9.69 | 11.43 |
| OPM % | 10.61% | 8.84% | 10.38% | 7.86% | 8.17% | 7.38% | 5.11% | 8.10% | 8.98% | 10.43% | 9.78% | 9.99% | 11.43% |
| 0.40 | 0.37 | 0.13 | 0.45 | 1.73 | 1.32 | 1.89 | 0.67 | 0.31 | 0.34 | 0.72 | 0.57 | 0.62 | |
| Interest | 4.60 | 4.07 | 3.94 | 2.74 | 3.43 | 3.24 | 3.19 | 2.77 | 2.78 | 3.18 | 2.04 | 1.79 | 2.37 |
| Depreciation | 2.31 | 1.79 | 1.79 | 2.12 | 2.53 | 2.86 | 2.90 | 2.63 | 2.64 | 2.61 | 2.69 | 3.39 | 2.83 |
| Profit before tax | 1.55 | 1.89 | 4.49 | 3.01 | 4.23 | 3.46 | 1.63 | 1.46 | 2.31 | 6.23 | 5.61 | 5.08 | 6.85 |
| Tax % | 37.42% | 32.28% | 55.90% | 100.66% | 23.17% | 35.55% | -29.45% | -62.33% | -22.08% | 30.34% | 71.30% | 25.98% | |
| 0.97 | 1.28 | 1.98 | -0.02 | 3.25 | 2.23 | 2.11 | 2.38 | 2.83 | 4.34 | 1.62 | 3.75 | 5.54 | |
| EPS in Rs | 1.06 | 1.40 | 2.17 | -0.02 | 3.56 | 2.44 | 2.31 | 2.61 | 3.10 | 4.75 | 1.77 | 4.11 | 6.06 |
| Dividend Payout % | 0.00% | 71.33% | 46.11% | -4,565.00% | 28.09% | 40.94% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 2% |
| 5 Years: | -3% |
| 3 Years: | 5% |
| TTM: | -4% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 21% |
| 3 Years: | 12% |
| TTM: | 158% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | -1% |
| 5 Years: | 12% |
| 3 Years: | 5% |
| 1 Year: | -21% |
| Return on Equity | |
|---|---|
| 10 Years: | 8% |
| 5 Years: | 9% |
| 3 Years: | 9% |
| Last Year: | 9% |
Balance Sheet
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9.13 | 9.13 | 9.13 | 9.13 | 9.13 | 9.13 | 9.13 | 9.13 | 9.13 | 9.13 | 9.13 | 9.13 | 9.13 |
| Reserves | 14.34 | 13.88 | 14.76 | 13.37 | 16.68 | 17.60 | 18.28 | 20.70 | 22.77 | 27.16 | 28.91 | 32.74 | 35.21 |
| 33.75 | 35.88 | 34.99 | 39.14 | 41.33 | 44.41 | 41.19 | 47.20 | 47.18 | 40.04 | 41.14 | 25.73 | 27.65 | |
| 18.35 | 15.09 | 18.31 | 22.48 | 18.26 | 25.56 | 26.28 | 17.02 | 15.04 | 18.01 | 20.19 | 14.54 | 14.54 | |
| Total Liabilities | 75.57 | 73.98 | 77.19 | 84.12 | 85.40 | 96.70 | 94.88 | 94.05 | 94.12 | 94.34 | 99.37 | 82.14 | 86.53 |
| 24.74 | 23.44 | 26.19 | 32.59 | 33.31 | 34.97 | 33.19 | 34.68 | 32.52 | 30.22 | 30.67 | 31.27 | 32.77 | |
| CWIP | 0.01 | 0.05 | 0.11 | 0.15 | 0.30 | 0.02 | 0.01 | 0.01 | 0.17 | 0.00 | 0.14 | 1.08 | 0.00 |
| Investments | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 50.81 | 50.48 | 50.88 | 51.37 | 51.78 | 61.70 | 61.67 | 59.35 | 61.43 | 64.12 | 68.56 | 49.79 | 53.76 | |
| Total Assets | 75.57 | 73.98 | 77.19 | 84.12 | 85.40 | 96.70 | 94.88 | 94.05 | 94.12 | 94.34 | 99.37 | 82.14 | 86.53 |
Cash Flows
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4.11 | 2.09 | 0.00 | -8.12 | 5.57 | 6.08 | 7.48 | 10.02 | 2.93 | 10.39 | 16.63 | 10.22 | |
| -1.82 | -0.65 | 0.00 | -3.34 | -3.42 | -4.86 | -0.47 | -4.08 | -0.59 | -1.10 | -3.01 | -4.33 | |
| -1.96 | -1.61 | 0.00 | 9.23 | -2.46 | -1.00 | -7.06 | -3.80 | -2.20 | -9.35 | -1.24 | -18.16 | |
| Net Cash Flow | 0.33 | -0.17 | 0.00 | -2.23 | -0.32 | 0.22 | -0.06 | 2.14 | 0.13 | -0.06 | 12.38 | -12.27 |
Ratios
Figures in Rs. Crores
| 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 | 81.74 | 70.05 | 70.54 | 74.47 | 67.55 | 80.39 | 89.24 | 99.69 | 91.25 | 83.56 | 67.38 | 45.06 |
| Inventory Days | 153.54 | 146.22 | 130.50 | 131.89 | 121.05 | 132.13 | 101.72 | 193.85 | 207.29 | 134.51 | 159.48 | 148.30 |
| Days Payable | 95.98 | 58.45 | 79.71 | 70.21 | 49.56 | 58.41 | 56.48 | 64.59 | 39.61 | 36.46 | 39.19 | 17.17 |
| Cash Conversion Cycle | 139.29 | 157.82 | 121.34 | 136.15 | 139.04 | 154.12 | 134.49 | 228.95 | 258.93 | 181.60 | 187.67 | 176.19 |
| Working Capital Days | 34.60 | 17.96 | 14.94 | 10.72 | 20.09 | 29.99 | 29.02 | 37.62 | 70.71 | 73.42 | 36.69 | 69.24 |
| ROCE % | 11.17% | 10.37% | 14.43% | 9.54% | 11.93% | 9.91% | 5.95% | 6.76% | 6.32% | 12.06% | 9.84% | 9.43% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Permanent Employees Count |
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| Total Electricity Purchased Units (kWh) |
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| Average Selling Price Rs/Kg |
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| Debtors Collection Period Days |
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| Electricity Consumption per Unit of Production (Composite) kWh/Kg |
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Documents
Announcements
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Intimation Of Advertisement Issued With Regards To Postal Ballot In News Paper
1d - Postal Ballot notice dispatched Mar 10; advertisement published Mar 11; e-voting Mar 12–Apr 10, 2026.
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Copy Of The Advertisement Release With Regards To Physical Shareholders With Regards To Special Window
1d - Special window 5 Feb 2026–4 Feb 2027 for transfer/demat of physical shares sold/purchased before 1 April 2019.
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Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
2d - Postal ballot for re-appointment of Mr. Vipul A. Desai as independent director Feb 12, 2026–Feb 11, 2031.
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Report On Re-Lodgment Of Share Transfer Request Of Physical Shares During The Special Window Period For January 2026
5 Mar - January 2026 special-window report: zero physical share transfer requests received, processed, approved, or rejected.
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Copy Of The Advertisement With Regards To Unaudited Financial Results For The Quarter And Nine Months Ended 31 Dec 2025
10 Feb - Published unaudited results for quarter ended 31 Dec 2025 in newspapers on 07 Feb 2026.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Business Overview:[1][2]
Company is a manufacturer of house-ware products and exporter of plastic furniture. Company markets its products under the brand name NATIONAL and its products are available across 36 countries including America, Australia, etc. It also deals in PVC Flooring Mats which are under the brand name INSTA