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 ₹ 113 Cr.
- Current Price ₹ 97.0
- High / Low ₹ 114 / 50.6
- Stock P/E 16.1
- Book Value ₹ 30.7
- Dividend Yield 0.00 %
- ROCE 23.2 %
- 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 33.1 to 46.1 days.
- Working capital days have increased from 158 days to 250 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 | 59.58 | 80.16 | |
19.71 | 19.48 | 26.18 | 41.90 | 52.59 | 68.41 | |
Operating Profit | 0.81 | 1.25 | 1.64 | 2.40 | 6.99 | 11.75 |
OPM % | 3.95% | 6.03% | 5.90% | 5.42% | 11.73% | 14.66% |
0.04 | 0.21 | 0.22 | 0.21 | 0.39 | 0.36 | |
Interest | 0.33 | 0.80 | 0.73 | 1.10 | 1.65 | 2.33 |
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: | 35% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 82% |
3 Years: | 116% |
TTM: | 78% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 90% |
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 | 16.86 | 36.28 | |
1.31 | 1.89 | 2.37 | 1.84 | 9.79 | 10.77 | |
Total Liabilities | 9.65 | 13.14 | 19.69 | 23.72 | 38.92 | 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 | 1.64 | 0.00 |
7.05 | 8.92 | 15.10 | 18.30 | 25.05 | 65.83 | |
Total Assets | 9.65 | 13.14 | 19.69 | 23.72 | 38.92 | 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 | 4.72 | -30.23 | |
-1.79 | -1.49 | -0.37 | -1.17 | -9.13 | -4.88 | |
1.88 | 1.66 | 4.64 | 2.11 | 4.43 | 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 | 35.78 | 46.13 |
Inventory Days | 90.36 | 124.86 | 215.65 | 153.46 | 130.85 | 185.20 |
Days Payable | 27.60 | 12.68 | 10.79 | 12.58 | 55.96 | 38.42 |
Cash Conversion Cycle | 103.50 | 160.95 | 233.85 | 158.19 | 110.66 | 192.91 |
Working Capital Days | 98.90 | 122.37 | 166.23 | 134.05 | 90.12 | 249.89 |
ROCE % | 14.40% | 11.55% | 11.28% | 27.05% | 23.22% |
Documents
Announcements
-
Updates
6 June 2025 - Confirmation of full utilization of IPO proceeds as per SEBI regulations with no deviations.
-
Change in Directors/ Key Managerial Personnel/ Auditor/ Compliance Officer/ Share Transfer Agent
5 June 2025 - SILKFLEX POLYMERS (INDIA) LIMITED has informed about Change in Directors/ Key Managerial Personnel/ Auditor/ Compliance Officer/ Share Transfer Agent
-
Appointment
5 June 2025 - Appointment of M/s. Ankit Gadiya & Associates as internal auditor for FY 2025-26.
-
Updates
30 May 2025 - Secretarial Audit Report FY25 confirms compliance; IPO proceeds Rs.18.10 Cr; NSE listing May 2024; minor NSE caution.
-
Analysts/Institutional Investor Meet/Con. Call Updates
27 May 2025 - Silkflex reports 59% revenue growth, INR50 Cr capex for new manufacturing plant starting Aug 2025, expects 50-60% revenue growth.
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