SPP Polymer Ltd
₹ 13.1
-4.73%
08 Jul
- close price
About
Incorporated in 2004, SPP Polymers Ltd manufactures woven and non-woven fabrics and bags[1]
Key Points
- Market Cap ₹ 20.2 Cr.
- Current Price ₹ 13.1
- High / Low ₹ 18.2 / 10.3
- Stock P/E
- Book Value ₹ 30.0
- Dividend Yield 3.82 %
- ROCE -5.50 %
- ROE -8.56 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.44 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 % | 4% | 4% | 2% | 4% | 7% | 6% | -2% |
| 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 % |
|
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| 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
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Disclosure under SEBI Takeover Regulations
7 July 2026 - 08-Apr-2026 disclosure: promoters confirm no new encumbrances during FY2026.
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Reply to Clarification- Financial results
2 June 2026 - SPP Polymer replied to NSE observations and filed revised audited FY26 results; revenue Rs 113.41 Cr, loss Rs 4.16 Cr.
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Structural Digital Database
29 May 2026 - Filed FY2026 PIT compliance certificate; SDD in place, five UPSI events captured, no noncompliance.
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Updates
29 May 2026 - SPP Polymer clarifies secretarial compliance provisions are not applicable as an SME-listed company.
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Clarification - Financial Results
25 May 2026 - Exchange has sought clarification from SPP Polymer Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. On …
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.