Deep Polymers Ltd.

•

deeppoly.comBSE: -NSE: DEEP

Market Cap₹ 87 Cr.

Current Price

High / Low₹ 40 / 34

Stock P/E12.3

Book Value₹ 44

Price to Book1.03

Dividend Yield0.00 %

ROCE8.2 %

ROE6.1 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Chemicals

Hold

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.

Confidence

55%

View full sector analysis →

PROS

Company has delivered good profit growth of 27.8% CAGR over last 5 years
Company has delivered good sales growth of 24.4% CAGR over last 5 years
Latest quarter profit grew 32.6% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.12x)
Working capital cycle has improved - days down from 147 to 115
Company maintains a comfortable, low leverage position

CONS

A large part of profit comes from other income (35.1% of PBT)
Company has a low return on capital employed of 10.7%
Growth is decelerating - 3Y profit CAGR (-22.5%) trails the 5Y trend (27.8%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ChemicalsChemicalsChemicals

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	SOLARINDS	21410.70	97.29	193745.54	0.05	666.37	88.98	3668.20	70.26	38.16	27.91
2.	PIDILITIND	1632.00	62.71	166117.97	1.32	8835.10	1202.86	45515.50	1112.74	32.38	26.28
3.	SRF	2605.00	35.72	77218.67	0.35	758.87	75.53	5033.26	34.63	14.21	24.57
4.	FLUOROCHEM	4691.60	83.80	51537.23	0.06	219.00	19.02	1588.00	23.97	9.58	26.83
5.	NAVINFLUOR	8697.20	56.51	44623.69	0.17	243.31	107.67	1045.08	44.07	21.39	34.17
6.	GODREJIND	1155.90	33.12	38936.61	0.00	523.36	-27.85	5448.09	22.16	10.64	12.82
7.	DEEPAKNTR	1727.25	30.08	23558.49	0.43	345.01	207.36	2577.60	36.39	11.58	20.96
8.	AETHER	1656.35	93.47	21984.38	0.00	62.75	33.45	326.56	27.49	11.65	31.47
9.	ATUL	6465.50	23.93	19035.57	0.46	253.93	91.85	1847.95	25.03	15.05	21.41
10.	AARTIIND	501.75	34.27	18199.81	0.20	155.00	260.47	2387.00	42.42	6.95	16.00
11.	DEEPAKFERT	1356.30	17.46	17179.29	0.74	490.04	100.95	3256.26	22.47	12.12	25.96
12.	DEEP	36.10	12.88	87.29	0.00	19.24	1225.07	300.80	1084.25	8.04	13.22

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	30	26	23	26	28	25	23	23	25	26	21	27	30
	28	24	19	23	24	21	20	19	23	22	18	22	29
Operating Profit	2	3	4	3	3	4	3	4	3	4	3	5	1
OPM %	7.26%	9.64%	18.72%	13.25%	11.85%	14.39%	13.22%	16.26%	11.02%	15.92%	12.08%	17.02%	4.95%
	0	0	1	1	1	1	1	1	1	1	1	2	1
Interest	0	0	0	2	0	0	0	1	0	1	0	0	0
Depreciation	0	0	1	2	1	2	2	2	2	2	2	2	2
Profit before Tax	2	2	4	0	2	3	2	1	2	2	1	4	3
Tax %	-1.59%	45.21%	25.07%	-218.92%	32.44%	31.50%	26.60%	58.95%	26.15%	25.21%	14.43%	35.45%	25.02%
Net Profit	2	1	3	1	2	2	1	0	1	2	1	3	2
	0.83	0.52	1.22	0.51	0.63	0.78	0.57	0.14	0.60	0.72	0.34	5.55	0.79

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	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	103
	35	39	37	37	31	37	119	105	93	85	91
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%	12.23%
	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	10
Tax %	27.50%	34.61%	27.03%	26.42%	27.71%	24.66%	27.41%	30.32%	13.27%	33.73%	28.32%
Net Profit	-0	1	2	3	2	2	11	9	7	5	7
EPS	-4.14	13.40	2.01	2.55	1.38	1.66	4.82	4.04	2.94	2.14	—
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:: 23%
5 Years:: 28%
3 Years:: -22%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: 11%
5 Years:: 13%
3 Years:: 10%
Last Year:: 6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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
	11	12	5	12	14	15	32	41	58	63
	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	25	30	29	31	28	32	113	132	132	135
	5	4	4	3	3	3	13	14	41	43
Capital Work in Progress	0	0	0	0	0	0	0	10	2	15
	2	2	2	0	0	0	0	0	0	0
	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	25	30	29	31	28	32	113	132	132	135

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	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

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	-3.71	13.40	2.01	2.84	1.28	1.54	4.82	4.04	2.94	2.14
Book Value (₹)	126.14	139.54	14.74	20.22	21.45	22.99	23.90	27.94	34.09	36.20
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	4.91	4.40	4.83
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%	7.70%	6.75%	5.27%
ROE %	-3.66%	10.08%	14.62%	17.08%	6.13%	6.91%	26.99%	15.57%	9.70%	6.09%
ROCE %	1.43%	12.77%	14.22%	18.46%	9.08%	9.11%	27.66%	14.27%	9.48%	8.21%
	-1.37%	4.62%	7.13%	11.26%	5.13%	6.10%	15.41%	7.59%	5.38%	3.87%
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)	0.59x	0.75x	0.67x	0.21x	0.04x	0.00x	0.86x	0.79x	0.43x	0.39x
Interest Coverage (x)	0.35x	3.60x	5.78x	10.44x	5.86x	82.05x	6.87x	7.07x	3.86x	4.84x
	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%	-16.35%	-23.45%	-27.30%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-27.08%	-27.30%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	29.07x	17.42x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	2.51x	1.03x
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

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	64.59	64.59	64.60	64.60	65.26	65.50	65.57	65.84	65.88
	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	35.37	35.37	35.37	35.36	34.71	34.47	34.40	34.12	34.08

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

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