Silkflex Polymers (India) Ltd
Incorporated in 2016, Silkflex Polymers
India Ltd is in the business of Chemicals
and Printing dyes and water based Wood Coatings[1]
- Market Cap ₹ 104 Cr.
- Current Price ₹ 90.0
- High / Low ₹ 112 / 50.6
- Stock P/E 14.9
- Book Value ₹ 30.7
- Dividend Yield 0.00 %
- ROCE 24.1 %
- ROE 29.2 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 82.1% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.9%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 35.3 to 46.1 days.
- Working capital days have increased from 69.7 days to 163 days
* 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 Specialty Chemicals
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
20.52 | 20.73 | 27.82 | 44.30 | 50.25 | 80.13 | |
19.71 | 19.48 | 26.18 | 41.90 | 43.08 | 68.15 | |
Operating Profit | 0.81 | 1.25 | 1.64 | 2.40 | 7.17 | 11.98 |
OPM % | 3.95% | 6.03% | 5.90% | 5.42% | 14.27% | 14.95% |
0.04 | 0.21 | 0.22 | 0.21 | 0.25 | 0.36 | |
Interest | 0.33 | 0.80 | 0.73 | 1.10 | 1.69 | 2.56 |
Depreciation | 0.06 | 0.05 | 0.21 | 0.40 | 0.48 | 0.38 |
Profit before tax | 0.46 | 0.61 | 0.92 | 1.11 | 5.25 | 9.40 |
Tax % | 26.09% | 26.23% | 25.00% | 25.23% | 25.14% | 25.53% |
0.35 | 0.45 | 0.69 | 0.83 | 3.93 | 7.00 | |
EPS in Rs | 2.33 | 2.19 | 2.76 | 3.32 | 4.84 | 6.03 |
Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 31% |
3 Years: | 42% |
TTM: | 59% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 82% |
3 Years: | 116% |
TTM: | 78% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | -8% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 25% |
3 Years: | 28% |
Last Year: | 29% |
Balance Sheet
Figures in Rs. Crores
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
Equity Capital | 1.50 | 2.05 | 2.50 | 2.50 | 8.13 | 11.61 |
Reserves | 1.24 | 3.08 | 4.88 | 5.83 | 4.14 | 24.01 |
5.60 | 6.12 | 9.94 | 13.55 | 15.16 | 36.27 | |
1.31 | 1.89 | 2.37 | 1.84 | 10.90 | 10.78 | |
Total Liabilities | 9.65 | 13.14 | 19.69 | 23.72 | 38.33 | 82.67 |
1.22 | 1.47 | 3.46 | 4.02 | 11.30 | 15.91 | |
CWIP | 0.00 | 1.15 | 0.00 | 0.00 | 0.93 | 0.93 |
Investments | 1.38 | 1.60 | 1.13 | 1.40 | 0.00 | 0.00 |
7.05 | 8.92 | 15.10 | 18.30 | 26.10 | 65.83 | |
Total Assets | 9.65 | 13.14 | 19.69 | 23.72 | 38.33 | 82.67 |
Cash Flows
Figures in Rs. Crores
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
-0.09 | -0.17 | -4.29 | -0.95 | 8.58 | -30.23 | |
-1.79 | -1.49 | -0.37 | -1.17 | -8.59 | -4.88 | |
1.88 | 1.66 | 4.64 | 2.11 | 0.03 | 35.14 | |
Net Cash Flow | 0.00 | 0.00 | -0.01 | 0.00 | 0.02 | 0.03 |
Ratios
Figures in Rs. Crores
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
Debtor Days | 40.73 | 48.77 | 29.00 | 17.30 | 42.42 | 46.14 |
Inventory Days | 90.36 | 124.86 | 215.65 | 153.46 | 164.07 | 185.20 |
Days Payable | 27.60 | 12.68 | 10.79 | 12.58 | 81.58 | 38.42 |
Cash Conversion Cycle | 103.50 | 160.95 | 233.85 | 158.19 | 124.91 | 192.93 |
Working Capital Days | 27.39 | 86.80 | 61.66 | 39.71 | 6.76 | 162.71 |
ROCE % | 14.40% | 11.55% | 11.28% | 28.15% | 24.08% |
Documents
Announcements
-
Analysts/Institutional Investor Meet/Con. Call Updates
19 September 2025 - Management to attend Arihant Capital Bharat Connect Conference on 25 Sep 2025 (virtual); no UPSI will be disclosed.
-
Analysts/Institutional Investor Meet/Con. Call Updates
11 September 2025 - Silkflex schedules virtual analyst/investor meeting on 17 September 2025; no UPSI will be shared.
-
Copy of Newspaper Publication
1 September 2025 - Notice of Silkflex Polymers' 9th AGM published in Financial Express and Duranta Barta on 01 Sep 2025.
-
Shareholders meeting
30 August 2025 - 9th AGM on 25 Sep 2025; appoint Raj Nitin Mehta; remit Rs.100,000/month to two non-exec directors from 01 Apr 2025.
-
Updates
29 August 2025 - Book closure Sep 20–25, 2025; 9th AGM on Sep 25, 2025 at 4:30 PM IST.
Annual reports
Concalls
-
May 2025Transcript PPT
Business Overview:[1]
Company does trading of textile printing inks and water-based wood coating polymers products of a Malaysian based brand - Silkflex produced by Silkflex Polymers SDN BHD (Silkflex Malaysia). It is one of the garment printing ink manufacturers of Malaysia supplying products around the globe through its authorised agents, including countries like India, Thailand, Turkey, Russia, Sri Lanka, Bangladesh and Indonesia