Manika Plastech Ltd
Incorporated in 1996, Manika Plastech
Limited is engaged in the manufacturing
of rigid polymer packaging products,
including battery casings, pails, and
thin-wall containers.[1]
- Market Cap ₹ 575 Cr.
- Current Price ₹ 49.4
- High / Low ₹ 61.2 / 39.5
- Stock P/E 25.5
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE 19.2 %
- ROE 16.5 %
- Face Value ₹ 2.00
Pros
- Company has delivered good profit growth of 26.4% CAGR over last 5 years
Cons
- The company has delivered a poor sales growth of 10.2% 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.
Peer comparison
Industrials Capital Goods Industrial Products Plastic Products - Industrial
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Operating Profit |
| OPM % |
| Interest |
| Depreciation |
| Profit before tax |
| Tax % |
| EPS in Rs |
| Raw PDF |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 268 | 333 | 396 | 361 | 406 | 436 | |
| 243 | 302 | 362 | 330 | 361 | 378 | |
| Operating Profit | 25 | 32 | 34 | 31 | 45 | 58 |
| OPM % | 9% | 9% | 9% | 9% | 11% | 13% |
| 0 | 0 | 2 | 8 | 6 | 1 | |
| Interest | 6 | 7 | 7 | 9 | 13 | 15 |
| Depreciation | 10 | 10 | 11 | 13 | 13 | 14 |
| Profit before tax | 10 | 15 | 18 | 16 | 25 | 30 |
| Tax % | 27% | 30% | 30% | 30% | 24% | 26% |
| 7 | 11 | 12 | 12 | 19 | 22 | |
| EPS in Rs | 0.70 | 1.14 | 1.30 | 1.21 | 2.03 | 4,480.00 |
| Dividend Payout % | 0% | 0% | 23% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 10% |
| 3 Years: | 3% |
| TTM: | 7% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 26% |
| 3 Years: | 22% |
| TTM: | 16% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 14% |
| 3 Years: | 15% |
| Last Year: | 17% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 20 | 19 | 19 | 19 | 19 | 19 |
| Reserves | 78 | 77 | 87 | 89 | 106 | 129 |
| 52 | 63 | 55 | 100 | 107 | 97 | |
| 36 | 35 | 46 | 45 | 89 | 79 | |
| Total Liabilities | 186 | 194 | 207 | 253 | 321 | 324 |
| 71 | 79 | 84 | 126 | 153 | 156 | |
| CWIP | 2 | 3 | 8 | 15 | 3 | 6 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 114 | 112 | 115 | 112 | 165 | 161 | |
| Total Assets | 186 | 194 | 207 | 253 | 321 | 324 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 17 | 28 | 40 | 32 | 37 | 44 | |
| -10 | -19 | -21 | -53 | -23 | -19 | |
| -7 | -9 | -18 | 22 | -13 | -26 | |
| Net Cash Flow | 0 | 0 | -0 | -0 | 1 | -1 |
| Free Cash Flow | 7 | 9 | 18 | -22 | 14 | 25 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 70% | 99% | 124% | 109% | 95% | 87% |
Ratios
Consolidated / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 81 | 65 | 48 | 45 | 55 | 55 |
| Inventory Days | 64 | 54 | 57 | 86 | 77 | |
| Days Payable | 37 | 41 | 22 | 45 | 34 | |
| Cash Conversion Cycle | 81 | 92 | 61 | 80 | 95 | 98 |
| Working Capital Days | 37 | 21 | 17 | 2 | 3 | 14 |
| ROCE % | 14% | 16% | 14% | 18% | 19% |
Documents
Announcements
-
Intimation Of Appointment Of Investor Relations (IR) Agency
- Manika Plastech appoints Cygnus Partners as IR agency from November 1, 2026.
-
Intimation Regarding Change Of Corporate Identification Number (CIN) Of The Company
- CIN changed to listed status after September 21, 2026 BSE/NSE listing.
-
Board Meeting Intimation for Intimation Of Board Meeting Pursuant To Regulation 29 Of The SEBI (LODR) Regulations, 2015 ('Listing Regulations')
- Board meeting on November 4, 2026 to approve Q2 and half-year financial results; trading window closed till November 6.
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
- Certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018 for the quarter ended September 30, 2026
-
Declaration Under Regulation 29(2) & 29(3) Of SEBI (Substantial Acquisition Of Shares & Takeover) Regulations, 2011
- Bharat Value Fund Series III raised Manika Plastech stake to 5.27% after buying 1.60% on September 21, 2026.
Business Overview:[1]
Manika Plastech is a design-led manufacturer
of precision-engineered rigid polymer packaging products, serving industries such as energy storage, automotive, paints, lubricants, food, dairy, chemicals, agrochemicals and the construction chemicals.
Its core products include battery casings,
pails and thin wall containers, along with
painting services for automotive components. The company provides an integrated offering covering product design, mould development, manufacturing, labelling, quality testing and delivery.