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 ₹ 97.8 Cr.
- Current Price ₹ 84.3
- High / Low ₹ 112 / 50.6
- Stock P/E 14.0
- 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: | -5% |
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
-
Quarterly Compliance Report on Corporate governance - within 21 days from the end of the quarter
9 October 2025 - Silkflex says corporate governance report not applicable for quarter ended Sep 30, 2025 under SEBI Reg 15(2)(b).
-
Certificate under SEBI (Depositories and Participants) Regulations, 2018
8 October 2025 - RTA certificate under Reg 74(5) for quarter ended Sep 30, 2025: no rematerialisation requests.
-
Trading Window
27 September 2025 - Trading window closed from Oct 1, 2025 until 48 hours after H1 results; PANs of DPs frozen.
-
Change in Director(s)
25 September 2025 - Appointed Raj Nitin Mehta as Non-Executive Director; Rajendrakumar Shah ceased, effective September 25, 2025.
-
Shareholders meeting
25 September 2025 - 9th AGM Sep 25, 2025: adopted FY25 accounts; appointed Raj Nitin Mehta; approved two directors' remunerations; unanimous votes (8,122,000)
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