SPP Polymer Ltd
₹ 12.4
-4.63%
01 Sep
- close price
About
Incorporated in 2004, SPP Polymers Ltd manufactures woven and non-woven fabrics and bags[1]
Key Points
- Market Cap ₹ 19.0 Cr.
- Current Price ₹ 12.4
- High / Low ₹ 18.2 / 10.3
- Stock P/E
- Book Value ₹ 30.0
- Dividend Yield 4.05 %
- ROCE -5.50 %
- ROE -8.56 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.41 times its book value
Cons
- Company has low interest coverage ratio.
- Company has a low return on equity of -1.83% over last 3 years.
- Debtor days have increased from 62.1 to 75.0 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.
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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 | |
|---|---|---|---|---|---|---|---|
| 59 | 66 | 80 | 66 | 92 | 108 | 111 | |
| 56 | 63 | 79 | 63 | 86 | 102 | 113 | |
| Operating Profit | 2 | 2 | 2 | 3 | 6 | 6 | -3 |
| OPM % | 3.7% | 3.6% | 1.9% | 4.0% | 7% | 6% | -2.4% |
| 0 | 0 | 0 | 1 | 2 | 1 | 3 | |
| Interest | 1 | 1 | 1 | 1 | 3 | 2 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 4 | 4 | 3 |
| Profit before tax | 1 | 1 | 0 | 1 | 1 | 2 | -4 |
| Tax % | 31% | 17% | 32% | 47% | 27% | 43% | -0% |
| 1 | 1 | 0 | 1 | 1 | 1 | -4 | |
| EPS in Rs | 1.92 | 0.93 | 0.73 | -2.70 | |||
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% | 68% | -0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 11% |
| 3 Years: | 19% |
| TTM: | 3% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | -468% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -27% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -1% |
| 3 Years: | -2% |
| Last Year: | -9% |
Balance Sheet
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 3 | 3 | 11 | 15 | 15 |
| Reserves | 11 | 12 | 17 | 22 | 14 | 36 | 31 |
| 8 | 5 | 13 | 22 | 19 | 8 | 13 | |
| 4 | 4 | 6 | 8 | 27 | 22 | 23 | |
| Total Liabilities | 25 | 22 | 38 | 54 | 71 | 81 | 82 |
| 6 | 6 | 7 | 27 | 24 | 23 | 20 | |
| CWIP | -0 | -0 | 4 | 0 | 0 | 1 | 0 |
| Investments | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| 19 | 16 | 27 | 27 | 46 | 57 | 61 | |
| Total Assets | 25 | 22 | 38 | 54 | 71 | 81 | 82 |
Cash Flows
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 4 | -6 | 4 | 6 | -10 | 2 | ||
| -0 | -6 | -17 | -2 | -5 | 0 | ||
| -4 | 13 | 12 | -5 | 15 | -2 | ||
| Net Cash Flow | 0 | 0 | -0 | -1 | -0 | 0 | |
| Free Cash Flow | 4 | -13 | -14 | 5 | -12 | 1 | |
| CFO/OP | 200% | -397% | 149% | 105% | -158% | -95% |
Ratios
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 44 | 54 | 46 | 43 | 56 | 55 | 75 |
| Inventory Days | 64 | 29 | 53 | 71 | 129 | 133 | 118 |
| Days Payable | 16 | 12 | 24 | 41 | 124 | 86 | 81 |
| Cash Conversion Cycle | 93 | 70 | 76 | 73 | 61 | 102 | 112 |
| Working Capital Days | 31 | 35 | 29 | 34 | 30 | 81 | 73 |
| ROCE % | 9% | 4% | 5% | 9% | 7% | -6% |
Insights
In beta| Mar 2024 | Mar 2025 | |
|---|---|---|
| Domestic Revenue Share % |
|
|
| Export Revenue Share % |
||
| Installed Capacity - HDPE/PP Woven Fabric & Bags MT |
||
| Installed Capacity - Non-Woven Fabric MT |
||
| Number of Circular Looms count |
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| Number of Permanent Employees count |
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Documents
Announcements
-
Shareholders meeting
- SPP Polymer issued FY26 annual report and AGM notice for 26 September 2026; FY26 net loss ₹416.26 lakh.
-
Outcome of Board Meeting
- Board met July 23, 2026; approved reappointments, internal auditor appointment, and office shift to Dehradun.
-
Reply to Clarification- Financial results
- SPP Polymer replied to NSE observations, corrected financial results, and reiterated FY25 audited numbers and final dividend recommendation.
-
Certificate under SEBI (Depositories and Participants) Regulations, 2018
- Submitted Regulation 74(5) certificate for quarter ended June 30, 2026.
-
Disclosure under SEBI Takeover Regulations
- 08-Apr-2026 disclosure: promoters confirm no new encumbrances during FY2026.
Business Overview:[1][2]
a) SPPPL is in the business of manufacturing:
- HDPE/PP woven fabric & bags
- Non-woven fabrics & bags
- PP Multi filament yarn.
b) The company offers packaging solutions to the B2B manufacturers catering to various industries
c) It manufactures products based on customer orders to meet specific requirements.
d) Raw materials are sourced only from reliable vendors and undergo thorough testing in the company’s laboratory before being used in production.