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 ₹ 346 Cr.
- Current Price ₹ 298
- High / Low ₹ 309 / 76.0
- Stock P/E 21.1
- Book Value ₹ 47.6
- Dividend Yield 0.00 %
- ROCE 22.7 %
- ROE 29.2 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 93.2% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 30.4%
- Company's working capital requirements have reduced from 55.0 days to 33.3 days
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -8.11%
- Debtor days have increased from 51.2 to 64.8 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
Part of Nifty SME Emerge
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 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 21 | 21 | 28 | 44 | 50 | 80 | 110 | 130 | |
| 20 | 19 | 26 | 42 | 43 | 68 | 88 | 98 | |
| Operating Profit | 1 | 1 | 2 | 2 | 7 | 12 | 22 | 32 |
| OPM % | 4.0% | 6% | 6% | 5% | 14% | 15% | 20% | 24% |
| 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | |
| Interest | 0 | 1 | 1 | 1 | 2 | 3 | 4 | 6 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 4 |
| Profit before tax | 0 | 1 | 1 | 1 | 5 | 9 | 16 | 23 |
| Tax % | 26% | 26% | 25% | 25% | 25% | 26% | 26% | |
| 0 | 0 | 1 | 1 | 4 | 7 | 12 | 16 | |
| EPS in Rs | 0.71 | 0.67 | 0.85 | 1.02 | 4.84 | 6.03 | 10.47 | 14.16 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 40% |
| 3 Years: | 35% |
| TTM: | 57% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 93% |
| 3 Years: | 144% |
| TTM: | 127% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 253% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 27% |
| 3 Years: | 30% |
| Last Year: | 29% |
Balance Sheet
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 2 | 8 | 12 | 12 | 12 |
| Reserves | 1 | 3 | 5 | 6 | 4 | 24 | 36 | 44 |
| 6 | 6 | 10 | 14 | 15 | 36 | 62 | 69 | |
| 1 | 2 | 2 | 2 | 11 | 11 | 22 | 26 | |
| Total Liabilities | 10 | 13 | 20 | 24 | 38 | 83 | 132 | 150 |
| 1 | 1 | 3 | 4 | 11 | 12 | 66 | 73 | |
| CWIP | 0 | 1 | 0 | 0 | 1 | 5 | 6 | 11 |
| Investments | 1 | 2 | 1 | 1 | 0 | 0 | 0 | 0 |
| 7 | 9 | 15 | 18 | 26 | 66 | 59 | 66 | |
| Total Assets | 10 | 13 | 20 | 24 | 38 | 83 | 132 | 150 |
Cash Flows
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| -0 | -0 | -4 | -1 | 9 | -24 | 29 | |
| -2 | -1 | -0 | -1 | -9 | -12 | -49 | |
| 2 | 2 | 5 | 2 | 0 | 35 | 22 | |
| Net Cash Flow | 0 | 0 | -0 | 0 | 0 | 0 | 2 |
| Free Cash Flow | -1 | -2 | -5 | -2 | -0 | -29 | -28 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 4% | 2% | -248% | -28% | 128% | -192% | 144% |
Ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 41 | 49 | 29 | 17 | 42 | 46 | 65 |
| Inventory Days | 90 | 125 | 216 | 153 | 164 | 185 | 136 |
| Days Payable | 28 | 13 | 11 | 13 | 82 | 38 | 68 |
| Cash Conversion Cycle | 104 | 161 | 234 | 158 | 125 | 193 | 133 |
| Working Capital Days | 27 | 87 | 62 | 40 | 7 | 125 | 33 |
| ROCE % | 14% | 12% | 11% | 28% | 24% | 23% |
Insights
In beta| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| Number of Regional Branches count |
|
||
| Number of Textile Printing Ink Products count |
|||
| Number of Wood Coating Polymer Products count |
|||
| Textile Ink Segment Share of Revenue % |
|||
| Wood Coating Segment Share of Revenue % |
|||
| Capacity Utilization % |
|||
| Installed Manufacturing Capacity MT per month |
|||
| Manufacturing Share of Revenue % |
|||
Extracted by Screener AI
Documents
Announcements
-
Outcome of Board Meeting
- Board approved unaudited standalone results for half year ended September 30, 2026.
-
Outcome of Board Meeting
- Board allotted 15,18,500 shares at Rs 205, raising Rs 31.13 crore on October 22, 2026.
-
Outcome of Board Meeting
- Board approved allotment of 12 lakh convertible warrants to promoter at Rs 205 each.
-
Commencement of commercial production/operations
- Commercial production of textile garment printing inks began October 19, 2026; capacity rises to 4 MT per shift.
-
Quarterly Compliance Report on Corporate governance - within 21 days from the end of the quarter
- Silkflex Polymers says corporate governance report is not applicable for quarter ended September 30, 2026.
Annual reports
-
Annual Report 2026
from nse
-
Annual Report 2025
from nse
-
Annual Report 2024
from nse
Concalls
-
May 2026Transcript PPT
-
Feb 2026Transcript PPT
-
Nov 2025Transcript PPT
-
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