Deep Polymers Ltd.
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ABOUT
AI Sector View
AI GENERATEDChemicals
The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.
PROS
- Company has delivered good profit growth of 28.0% CAGR over last 5 years
- Company has delivered good sales growth of 24.4% CAGR over last 5 years
- Latest quarter profit grew 32.5% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.09x)
- Company has consistently been profitable over the last 5 years
CONS
- A large part of profit comes from other income (35.0% of PBT)
- Company has a low return on capital employed of 10.5%
- Growth is decelerating - 3Y profit CAGR (-22.4%) trails the 5Y trend (28.0%)
- Though reporting repeated profits, the company pays out little dividend (0.0%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SOLARINDS | 21410.70 | 97.29 | 193745.54 | 0.05 | 666.37 | 88.98 | 3668.20 | 70.26 | 38.16 | 27.91 |
| PIDILITIND | 1632.00 | 62.71 | 166117.97 | 1.32 | 8835.10 | 1202.86 | 45515.50 | 1112.74 | 32.38 | 26.28 |
| SRF | 2605.00 | 35.72 | 77218.67 | 0.35 | 758.87 | 75.53 | 5033.26 | 34.63 | 14.21 | 24.57 |
| FLUOROCHEM | 4691.60 | 83.80 | 51537.23 | 0.06 | 219.00 | 19.02 | 1588.00 | 23.97 | 9.58 | 26.83 |
| NAVINFLUOR | 8697.20 | 56.51 | 44623.69 | 0.17 | 243.31 | 107.67 | 1045.08 | 44.07 | 21.39 | 34.17 |
| GODREJIND | 1155.90 | 33.12 | 38936.61 | 0.00 | 523.36 | -27.85 | 5448.09 | 22.16 | 10.64 | 12.82 |
| DEEPAKNTR | 1727.25 | 30.08 | 23558.49 | 0.43 | 345.01 | 207.36 | 2577.60 | 36.39 | 11.58 | 20.96 |
| AETHER | 1656.35 | 93.47 | 21984.38 | 0.00 | 62.75 | 33.45 | 326.56 | 27.49 | 11.65 | 31.47 |
| ATUL | 6465.50 | 23.93 | 19035.57 | 0.46 | 253.93 | 91.85 | 1847.95 | 25.03 | 15.05 | 21.41 |
| AARTIIND | 501.75 | 34.27 | 18199.81 | 0.20 | 155.00 | 260.47 | 2387.00 | 42.42 | 6.95 | 16.00 |
| DEEPAKFERT | 1356.30 | 17.46 | 17179.29 | 0.74 | 490.04 | 100.95 | 3256.26 | 22.47 | 12.12 | 25.96 |
| DEEP | 36.10 | 12.88 | 87.29 | 0.00 | 19.24 | 1225.07 | 300.80 | 1084.25 | 8.04 | 13.22 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 28 | 30 | 26 | 23 | 26 | 28 | 25 | 23 | 23 | 25 | 26 | 27 | 30 | |
| 24 | 28 | 24 | 19 | 23 | 24 | 21 | 20 | 19 | 23 | 22 | 22 | 29 | |
| Operating Profit | 4 | 2 | 3 | 4 | 3 | 3 | 4 | 3 | 4 | 3 | 4 | 5 | 1 |
| OPM % | 15.83% | 7.26% | 9.64% | 18.72% | 13.25% | 11.85% | 14.39% | 13.22% | 16.26% | 11.02% | 15.92% | 17.02% | 4.95% |
| 1 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | |
| Interest | 1 | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 1 | 2 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before Tax | 4 | 2 | 2 | 4 | 0 | 2 | 3 | 2 | 1 | 2 | 2 | 4 | 3 |
| Tax % | 33.10% | -1.59% | 45.21% | 25.07% | -218.92% | 32.44% | 31.50% | 26.60% | 58.95% | 26.15% | 25.21% | 35.45% | 24.87% |
| Net Profit | 0 | 0 | 0 | 0 | 1 | 2 | 2 | 1 | 0 | 1 | 2 | 3 | 2 |
| 1.24 | 0.87 | 0.49 | 1.22 | 0.50 | 0.63 | 0.78 | 0.57 | 0.14 | 0.60 | 0.73 | 5.60 | 0.80 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 36 | 42 | 40 | 40 | 33 | 40 | 138 | 120 | 105 | 98 | 108 | |
| 35 | 39 | 37 | 37 | 31 | 37 | 119 | 105 | 93 | 85 | 95 | |
| Operating Profit | 1 | 3 | 3 | 4 | 2 | 2 | 18 | 16 | 13 | 14 | 13 |
| OPM % | 2.86% | 7.58% | 7.19% | 8.78% | 5.85% | 5.83% | 13.37% | 12.96% | 11.88% | 13.84% | 11.98% |
| 0 | 0 | 1 | 2 | 1 | 1 | 2 | 2 | 2 | 3 | 5 | |
| Interest | 1 | 1 | 1 | 0 | 0 | 0 | 3 | 2 | 3 | 2 | 2 |
| Depreciation | 1 | 1 | 1 | 1 | 0 | 0 | 2 | 2 | 4 | 6 | 8 |
| Profit before Tax | -0 | 2 | 3 | 5 | 2 | 2 | 15 | 13 | 8 | 8 | 11 |
| Tax % | 27.50% | 34.61% | 27.03% | 26.42% | 27.71% | 24.66% | 27.41% | 30.00% | 13.23% | 33.62% | 29.13% |
| Net Profit | -0 | 1 | 2 | 3 | 2 | 2 | 11 | 9 | 7 | 5 | 8 |
| EPS | -3.92 | 13.57 | 2.03 | 2.84 | 1.38 | 1.66 | 4.82 | 4.10 | 2.95 | 2.15 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 9%
- 5 Years:
- 24%
- 3 Years:
- -11%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 22%
- 5 Years:
- 28%
- 3 Years:
- -22%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- 10%
- 5 Years:
- 13%
- 3 Years:
- 10%
- Last Year:
- 6%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 11 | 12 | 12 | 12 | 23 | 23 | 24 | 24 |
| 13 | 15 | 7 | 12 | 14 | 15 | 35 | 44 | 61 | 66 | |
| 6 | 10 | 10 | 5 | 1 | 0 | 47 | 48 | 32 | 30 | |
| Trade Payables | 5 | 6 | 3 | 2 | 1 | 4 | 6 | 11 | 12 | 7 |
| 2 | 0 | 0 | 0 | 1 | 1 | 4 | 9 | 6 | 10 | |
| Total Liabilities | 28 | 32 | 31 | 31 | 28 | 32 | 115 | 135 | 135 | 138 |
| 5 | 4 | 4 | 3 | 3 | 3 | 13 | 14 | 41 | 43 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10 | 2 | 15 |
| 4 | 4 | 4 | 0 | 0 | 0 | 3 | 3 | 3 | 3 | |
| 4 | 7 | 2 | 5 | 4 | 3 | 21 | 33 | 24 | 21 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 28 | 24 | |
| Cash & Bank | 0 | 0 | 0 | 0 | 0 | 1 | 3 | 2 | 6 | 0 |
| 15 | 17 | 21 | 22 | 21 | 24 | 76 | 74 | 32 | 33 | |
| Total Assets | 28 | 32 | 31 | 31 | 28 | 32 | 115 | 135 | 135 | 138 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -1 | -3 | 1 | -5 | 1 | 2 | 2 | 16 | 35 | 20 | |
| Cash from Investing | -0 | -0 | -0 | 1 | -1 | -1 | -12 | -13 | -24 | -22 |
| Cash from Financing | 2 | 3 | -0 | 5 | 1 | -0 | 16 | -0 | -7 | -4 |
| 0 | -0 | 0 | 0 | -0 | 1 | 2 | -1 | 4 | -6 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | -3.50 | 13.57 | 2.03 | 2.84 | 1.28 | 1.54 | 4.82 | 4.10 | 2.95 | 2.15 |
| Book Value (₹) | 151.01 | 164.58 | 17.04 | 20.22 | 21.45 | 22.99 | 25.11 | 29.16 | 35.27 | 37.39 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 0.30 | 1.15 | 1.51 | 1.91 | 0.95 | 1.08 | 5.74 | 4.97 | 4.41 | 4.84 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 3.28% | 8.32% | 10.49% | 13.99% | 9.05% | 7.21% | 14.55% | 14.55% | 11.85% | 13.84% |
| Net Margin % | -0.99% | 3.01% | 5.30% | 8.35% | 4.61% | 4.59% | 8.07% | 7.82% | 6.77% | 5.30% |
| ROE % | -2.94% | 8.49% | 12.53% | 16.10% | 6.13% | 6.91% | 26.11% | 15.10% | 9.37% | 5.92% |
| ROCE % | 1.26% | 11.48% | 12.95% | 17.68% | 9.08% | 9.11% | 27.08% | 14.04% | 9.28% | 8.04% |
| -1.25% | 4.25% | 6.60% | 10.82% | 5.13% | 6.10% | 15.12% | 7.53% | 5.29% | 3.81% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 133 | 115 | 163 | 184 | 218 | 171 | 84 | 116 | 102 | 96 |
| Inventory Days | 32 | 46 | 41 | 33 | 52 | 34 | 32 | 81 | 97 | 83 |
| Payable Days | 91 | 68 | 53 | 26 | 17 | 27 | 19 | 34 | 50 | 49 |
| 74 | 94 | 151 | 191 | 253 | 178 | 97 | 163 | 150 | 130 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.49x | 0.64x | 0.58x | 0.21x | 0.04x | 0.00x | 0.82x | 0.76x | 0.42x | 0.37x |
| Interest Coverage (x) | 0.35x | 3.60x | 5.78x | 10.44x | 5.86x | 82.05x | 6.87x | 7.13x | 3.87x | 4.86x |
| 1.56x | 1.81x | 2.48x | 5.84x | 10.05x | 5.39x | 7.88x | 4.21x | 3.30x | 2.68x | |
| GROWTH | ||||||||||
| Revenue Growth % | -11.24% | 18.45% | -6.33% | 1.58% | -18.64% | 20.88% | 246.28% | -12.50% | -12.60% | -6.75% |
| Operating Profit Growth % | -61.62% | 200.90% | 18.03% | 35.55% | -47.36% | -3.79% | 599.04% | -12.34% | -16.83% | 11.87% |
| Net Profit Growth % | -152.81% | 461.54% | 64.68% | 60.07% | -55.08% | 20.34% | 509.28% | -15.09% | -24.32% | -27.19% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -27.91% | -27.19% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 28.97x | 17.34x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 2.43x | 1.00x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 16.20x | 7.59x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
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News
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Deep Polymers Ltd.
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