Polyspin Exports Ltd

₹ 30.3 -4.44%

16 Jun - close price

About

Incorporated in 1972, Polyspin Exports Ltd primarily manufactures and exports FIBC bags^[1]

Key Points

Business Overview:^[1]
PEL was initially into the manufacturing of high-density polyethylene (HDPE) /
PP bags and thereafter started production of flexible intermediate bulk container
(FIBC) bags, Fabric, Yarn, Multifilament Yarn. It majorly supplies its products to distributing and marketing agents situated in the overseas markets. The company's
major raw material is the Polypropylene (PP) granule, which is derived from crude
oil.

Website BSE

Market Cap ₹ 30.3 Cr.
Current Price ₹ 30.3
High / Low ₹ 43.0 / 25.0
Stock P/E 5.46
Book Value ₹ 69.6
Dividend Yield 0.00 %
ROCE 7.27 %
ROE 8.38 %
Face Value ₹ 5.00

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Pros

Stock is trading at 0.44 times its book value

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -0.77% over past five years.
Company has a low return on equity of 3.78% over last 3 years.
Contingent liabilities of Rs.10.3 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.

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	47.00	49.18	53.45	50.70	48.88	48.67	61.52	54.61	60.35	57.36	58.87	53.79	55.73
	45.46	49.43	50.92	52.38	50.40	46.09	56.86	51.97	57.37	53.96	55.02	51.39	54.07
Operating Profit	1.54	-0.25	2.53	-1.68	-1.52	2.58	4.66	2.64	2.98	3.40	3.85	2.40	1.66
OPM %	3.28%	-0.51%	4.73%	-3.31%	-3.11%	5.30%	7.57%	4.83%	4.94%	5.93%	6.54%	4.46%	2.98%
	-0.34	-0.06	1.12	0.80	0.88	0.26	0.53	1.09	0.71	0.83	0.78	0.83	1.34
Interest	0.79	0.97	0.88	1.06	1.01	0.97	1.38	1.46	1.62	1.47	1.64	1.38	1.21
Depreciation	0.67	0.70	0.78	0.82	0.87	0.87	1.05	1.29	1.17	1.18	1.18	1.13	1.10
Profit before tax	-0.26	-1.98	1.99	-2.76	-2.52	1.00	2.76	0.98	0.90	1.58	1.81	0.72	0.69
Tax %	46.15%	-2.02%	3.52%	3.26%	-70.63%	-53.00%	85.51%	67.35%	63.33%	27.85%	8.29%	31.94%	26.09%
	0.13	-1.82	2.19	-2.50	-0.65	1.79	0.67	0.84	0.81	1.40	2.42	1.25	0.49
EPS in Rs	0.13	-1.82	2.19	-2.50	-0.65	1.79	0.67	0.84	0.81	1.40	2.42	1.25	0.49
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2011	Mar 2012	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	44	58	172	181	212	166	235	277	208	202	225	226
	40	52	158	165	195	156	218	260	204	203	210	214
Operating Profit	5	6	13	15	17	10	16	17	4	-0	15	11
OPM %	11%	10%	8%	9%	8%	6%	7%	6%	2%	-0%	7%	5%
	1	0	0	0	2	6	4	6	3	3	2	4
Interest	2	2	5	5	6	5	6	5	4	4	7	6
Depreciation	1	2	3	3	3	4	4	4	3	3	4	5
Profit before tax	3	2	5	8	11	7	11	13	1	-5	6	5
Tax %	41%	33%	36%	34%	33%	29%	31%	32%	34%	-31%	55%	21%
	2	2	3	5	7	5	9	9	5	-3	4	6
EPS in Rs	1.50	1.60	3.38	5.04	7.45	5.35	8.74	9.22	5.37	-2.78	4.10	5.56
Dividend Payout %	27%	25%	14%	10%	6%	4%	7%	7%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	-1%
3 Years:	3%
TTM:	0%

Compounded Profit Growth
10 Years:	%
5 Years:	-9%
3 Years:	1%
TTM:	31%

Stock Price CAGR
10 Years:	7%
5 Years:	-18%
3 Years:	-18%
1 Year:	-15%

Return on Equity
10 Years:	12%
5 Years:	7%
3 Years:	4%
Last Year:	8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2011	Mar 2012	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	4	4	4	4	4	4	5	5	5	5	5	5
Reserves	4	5	18	22	30	35	42	51	55	54	58	65
	19	30	49	53	61	61	79	78	70	75	85	71
	8	7	24	25	26	19	23	22	32	26	18	22
Total Liabilities	35	46	95	105	121	119	149	157	162	159	167	163
	14	21	40	38	38	45	46	43	43	37	50	49
CWIP	0	2	0	0	7	2	0	0	7	16	0	0
Investments	1	1	1	1	1	1	3	3	7	8	9	13
	20	23	54	65	75	70	101	110	105	99	107	101
Total Assets	35	46	95	105	121	119	149	157	162	159	167	163

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2011	Mar 2012	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-1	-0	4	3	15	11	-9	13	11	8	-9	32
	-8	-11	-3	-2	-15	-10	-1	-0	-8	-8	4	-12
	10	10	-1	-0	1	-3	13	-6	-12	1	5	-20
Net Cash Flow	1	-0	-0	0	1	-2	2	6	-9	-0	0	-0
Free Cash Flow	-9	-11	1	1	5	5	-11	11	1	-4	-5	29
CFO/OP	-22%	-2%	30%	33%	106%	133%	-48%	105%	299%	-2,130%	-66%	296%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2011	Mar 2012	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	47	43	38	50	36	53	40	53	57	53	72	56
Inventory Days	118	92	74	84	76	94	123	64	147	117	117	108
Days Payable	35	26	52	54	45	38	27	18	64	53	19	33
Cash Conversion Cycle	130	108	60	79	68	109	136	100	139	117	170	132
Working Capital Days	-2	-1	-21	-15	-18	-23	-7	13	14	20	21	29
ROCE %	20%	14%		17%	20%	13%	15%	14%	5%	0%	10%	7%

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

Installed Capacity - FIBC Bags & PP Division
Metric Tonnes Per Annum ・Standalone data

x,xxx	x,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx
x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	xxx,xxx	x
x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	xx,xxx,xxx	xx,xxx,xxx	xx,xxx,xxx	xx,xxx,xxx	xx,xxx,xxx
x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	xx,xxx,xxx	xx,xxx,xxx	xx,xxx,xxx	xx,xxx,xxx	xx,xxx,xxx
x,xxx	x,xxx	xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx
x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx
x.xx	x.xx	x.xx	x.xx	x.xx

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Production Volume - Cotton Yarn / Textiles
Kgs ・Standalone data

Production Volume - FIBC Bags & PP Woven Bags
Kgs ・Standalone data

Sales Volume - FIBC Bags & PP Woven Bags
Kgs ・Standalone data

Installed Capacity - Textile Division
Rotors ・Standalone data

Electricity Consumption per unit of production (Textile Division)
Unit/Kg ・Standalone data

Electricity Consumption per unit of production (FIBC/PP Division)
Unit/Kg ・Standalone data

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Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	47.93%	47.83%	47.83%	47.80%	47.96%	47.44%	46.82%	46.82%	46.82%	46.82%	46.82%	46.83%
	52.09%	52.19%	52.18%	52.22%	52.05%	52.57%	53.20%	53.21%	53.21%	53.20%	53.19%	53.18%
No. of Shareholders	4,035	3,973	4,072	4,159	4,101	4,116	4,127	4,122	4,112	4,085	4,036	3,996

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	50.80%	45.26%	46.82%	47.17%	47.63%	48.37%	48.46%	47.80%	46.82%	46.83%
	49.20%	54.74%	53.18%	52.83%	52.37%	51.63%	51.54%	52.22%	53.21%	53.18%
No. of Shareholders	4,148	3,724	3,436	3,194	3,584	4,249	4,121	4,159	4,122	3,996

Polyspin Exports Ltd

Polyspin Exports Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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Announcements

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