Plastiblends India Ltd

Plastiblends India Ltd

₹ 276 4.88%
24 Apr 10:54 a.m.
About

Incorporated in 1991, Plastiblends India Ltd is a part of the Kolsite group of companies. It manufactures white, black and coloured masterbatches and compounds used primarily as colouring agents in plastics. [1]

Key Points

Product Range
The Co produces masterbatches for Polyolefins including BOPP, PET, PBT, ABS, HIPS, EVA. The masterbatches are marketed under the trade names - Polyclear, Polynuc, Polyultra, Antimicrobial, Polyrodent, PolyFR and Anti-fibrillation. These products find application in a variety of industries such as Agriculture, Textiles, Packaging, etc. [1]

  • Market Cap 717 Cr.
  • Current Price 276
  • High / Low 358 / 161
  • Stock P/E 22.1
  • Book Value 153
  • Dividend Yield 1.45 %
  • ROCE 9.20 %
  • ROE 6.82 %
  • Face Value 5.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 31.6%
  • Debtor days have improved from 56.0 to 44.3 days.

Cons

  • The company has delivered a poor sales growth of 5.75% over past five years.
  • Company has a low return on equity of 9.58% over last 3 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

Sector: Chemicals Industry: Chemicals

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Quarterly Results

Figures in Rs. Crores

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
160.05 171.68 153.25 171.39 174.15 218.84 204.23 180.30 186.02 197.97 195.67 210.46 197.12
140.48 152.37 140.49 160.35 154.06 201.49 188.27 172.18 178.06 180.18 182.54 196.03 185.89
Operating Profit 19.57 19.31 12.76 11.04 20.09 17.35 15.96 8.12 7.96 17.79 13.13 14.43 11.23
OPM % 12.23% 11.25% 8.33% 6.44% 11.54% 7.93% 7.81% 4.50% 4.28% 8.99% 6.71% 6.86% 5.70%
0.75 1.45 1.77 1.21 1.06 2.89 2.51 2.23 1.77 -1.30 1.33 2.58 2.03
Interest 0.57 0.48 1.02 0.60 0.60 0.88 0.82 0.26 0.74 0.30 0.10 0.37 0.37
Depreciation 4.11 3.87 4.16 4.01 4.02 3.90 4.03 4.08 4.27 4.06 3.88 3.86 3.87
Profit before tax 15.64 16.41 9.35 7.64 16.53 15.46 13.62 6.01 4.72 12.13 10.48 12.78 9.02
Tax % 27.30% 26.20% 27.81% 27.88% 27.04% 19.99% 26.73% 29.95% 15.89% 28.36% 27.00% 25.51% 26.72%
11.38 12.11 6.75 5.50 12.07 12.38 9.98 4.21 3.97 8.69 7.65 9.53 6.61
EPS in Rs 4.38 4.66 2.60 2.12 4.64 4.76 3.84 1.62 1.53 3.34 2.94 3.67 2.54
Raw PDF
Upcoming result date: 2 May 2024

Profit & Loss

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
334 400 455 484 511 545 568 627 587 555 699 751 801
302 368 408 433 452 481 513 567 519 487 637 701 745
Operating Profit 32 31 47 51 59 64 55 60 67 69 62 50 57
OPM % 10% 8% 10% 10% 12% 12% 10% 10% 12% 12% 9% 7% 7%
0 2 3 2 2 1 2 1 3 4 6 5 5
Interest 4 6 6 4 4 8 8 8 1 3 3 2 1
Depreciation 4 4 4 6 6 11 12 12 17 16 16 16 16
Profit before tax 24 23 41 43 52 46 38 42 52 53 49 36 44
Tax % 30% 33% 33% 30% 27% 30% 28% 25% 28% 30% 25% 26%
17 15 27 30 38 33 27 31 37 37 37 27 32
EPS in Rs 6.43 5.91 10.48 11.56 14.49 12.58 10.51 11.99 14.31 14.37 14.12 10.33 12.49
Dividend Payout % 27% 30% 24% 24% 24% 10% 24% 23% 26% 28% 28% 39%
Compounded Sales Growth
10 Years: 7%
5 Years: 6%
3 Years: 9%
TTM: 2%
Compounded Profit Growth
10 Years: 6%
5 Years: -1%
3 Years: -11%
TTM: 6%
Stock Price CAGR
10 Years: 17%
5 Years: 6%
3 Years: 4%
1 Year: 59%
Return on Equity
10 Years: 13%
5 Years: 11%
3 Years: 10%
Last Year: 7%

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 6 6 6 6 6 6 13 13 13 13 13 13 13
Reserves 100 110 130 151 178 217 235 256 268 317 368 382 385
49 58 31 20 82 91 105 78 48 32 45 7 15
44 62 80 80 94 84 88 67 80 91 92 83 99
Total Liabilities 200 236 248 258 361 399 442 414 409 453 518 484 512
60 65 64 73 151 169 176 173 180 179 189 181 175
CWIP 1 0 1 5 1 0 1 0 3 9 2 0 3
Investments 4 4 3 3 3 10 11 8 4 22 51 67 64
135 168 180 177 206 219 255 233 222 242 275 236 270
Total Assets 200 236 248 258 361 399 442 414 409 453 518 484 512

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
11 4 37 37 71 25 15 59 74 48 15 72
-7 -7 -3 -19 -80 -25 -17 -8 -20 -27 -5 -26
-3 3 -32 -18 9 -0 3 -51 -55 -19 -12 -45
Net Cash Flow 0 -0 2 -1 -0 -0 0 -1 -1 1 -1 1

Ratios

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 69 78 71 70 77 74 78 77 63 62 62 44
Inventory Days 85 72 63 47 57 66 84 62 85 115 93 76
Days Payable 23 31 35 30 50 34 35 12 17 24 16 17
Cash Conversion Cycle 131 119 99 86 84 106 127 127 131 153 139 102
Working Capital Days 114 111 92 87 97 106 124 107 101 116 110 86
ROCE % 19% 17% 27% 27% 25% 19% 14% 14% 16% 16% 13% 9%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
64.08% 64.15% 64.27% 63.77% 63.90% 63.82% 63.60% 63.37% 63.37% 64.21% 64.38% 64.38%
1.14% 1.26% 1.33% 1.35% 1.31% 1.32% 0.76% 0.75% 0.75% 0.76% 0.82% 0.84%
0.22% 0.22% 0.22% 0.22% 0.22% 0.22% 0.22% 0.22% 0.22% 0.22% 0.00% 0.00%
34.56% 34.38% 34.18% 34.66% 34.57% 34.65% 35.43% 35.65% 35.65% 34.82% 34.80% 34.79%
No. of Shareholders 12,13612,83912,84914,00014,32914,11814,12113,93513,84913,48314,54915,146

* 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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