Plastiblends India 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 is almost debt free
- Latest quarter profit grew 67.6% YoY, showing strong momentum
- Company comfortably covers its interest (23.8x coverage)
- Company has a consistent dividend-paying track record
- Company generates healthy free cash flow
- Stock looks reasonably valued - P/E of 11.8 is below its historical median
CONS
- A large part of profit comes from other income (27.4% of PBT)
- Company has a low return on equity of 8.3% over last 3 years
- Company has a low return on capital employed of 11.4%
- Receivables are growing faster than sales - a possible quality concern
- Company has delivered a poor profit growth of -0.4% over past five years
- Company has delivered a poor sales growth of 6.4% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SOLARINDS | 22307.50 | 101.37 | 201860.69 | 0.05 | 666.37 | 88.98 | 3668.20 | 70.26 | 38.16 | 27.91 |
| PIDILITIND | 1567.45 | 60.23 | 159547.55 | 1.37 | 8835.10 | 1202.86 | 45515.50 | 1112.74 | 32.38 | 26.28 |
| SRF | 2483.00 | 34.05 | 73602.28 | 0.36 | 758.87 | 75.53 | 5033.26 | 34.63 | 14.21 | 24.57 |
| FLUOROCHEM | 4771.75 | 85.23 | 52417.67 | 0.06 | 219.00 | 19.02 | 1588.00 | 23.97 | 9.58 | 26.83 |
| NAVINFLUOR | 8541.10 | 55.49 | 43822.77 | 0.18 | 243.31 | 107.67 | 1045.08 | 44.07 | 21.39 | 34.17 |
| GODREJIND | 1127.00 | 32.29 | 37963.11 | 0.00 | 523.36 | -27.85 | 5448.09 | 22.16 | 10.64 | 12.82 |
| AETHER | 1672.95 | 94.41 | 22204.70 | 0.00 | 62.75 | 33.45 | 326.56 | 27.49 | 11.65 | 31.47 |
| DEEPAKNTR | 1587.10 | 27.64 | 21646.94 | 0.47 | 345.01 | 207.36 | 2577.60 | 36.39 | 11.58 | 20.96 |
| ATUL | 6244.55 | 23.11 | 18385.05 | 0.48 | 253.93 | 91.85 | 1847.95 | 25.03 | 15.05 | 21.41 |
| AARTIIND | 492.15 | 33.62 | 17851.59 | 0.20 | 155.00 | 260.47 | 2387.00 | 42.42 | 6.95 | 16.00 |
| DEEPAKFERT | 1320.45 | 17.00 | 16725.20 | 0.76 | 490.04 | 100.95 | 3256.26 | 22.47 | 12.12 | 25.96 |
| PLASTIBLEN | 193.45 | 11.77 | 502.76 | 1.55 | 14.95 | 67.61 | 221.61 | 11.01 | 11.37 | 9.92 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 196 | 210 | 197 | 199 | 212 | 185 | 184 | 199 | 200 | 193 | 186 | 211 | 222 | |
| 183 | 196 | 186 | 183 | 195 | 176 | 173 | 185 | 186 | 182 | 176 | 192 | 204 | |
| Operating Profit | 13 | 14 | 11 | 16 | 16 | 10 | 11 | 14 | 13 | 11 | 10 | 19 | 18 |
| OPM % | 6.71% | 6.86% | 5.69% | 7.93% | 7.71% | 5.28% | 6.20% | 7.26% | 6.75% | 5.64% | 5.20% | 9.02% | 8.06% |
| 1 | 3 | 2 | 2 | 2 | 3 | 2 | 2 | 3 | 4 | 3 | 4 | 2 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 |
| Depreciation | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Profit before Tax | 10 | 13 | 9 | 14 | 15 | 8 | 9 | 13 | 12 | 10 | 9 | 18 | 20 |
| Tax % | 27.03% | 25.43% | 26.61% | 22.75% | 25.74% | 23.88% | 27.38% | 25.12% | 24.98% | 25.67% | 24.80% | 24.34% | 26.09% |
| Net Profit | 8 | 10 | 7 | 11 | 11 | 6 | 7 | 10 | 9 | 7 | 6 | 14 | 15 |
| 2.94 | 3.67 | 2.54 | 4.13 | 4.17 | 2.43 | 2.58 | 3.68 | 3.43 | 2.86 | 2.49 | 5.33 | 5.75 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 545 | 568 | 627 | 606 | 577 | 718 | 769 | 802 | 780 | 789 | 811 | |
| 482 | 513 | 567 | 538 | 509 | 655 | 720 | 749 | 729 | 736 | 753 | |
| Operating Profit | 63 | 55 | 60 | 67 | 69 | 62 | 48 | 53 | 52 | 53 | 57 |
| OPM % | 11.60% | 9.66% | 9.62% | 11.13% | 11.86% | 8.67% | 6.31% | 6.63% | 6.62% | 6.68% | 7.08% |
| 2 | 2 | 1 | 3 | 4 | 6 | 7 | 10 | 10 | 13 | 13 | |
| Interest | 8 | 8 | 8 | 2 | 3 | 3 | 2 | 1 | 1 | 2 | 2 |
| Depreciation | 11 | 12 | 12 | 17 | 16 | 16 | 16 | 15 | 15 | 15 | 15 |
| Profit before Tax | 46 | 38 | 42 | 52 | 53 | 49 | 36 | 46 | 45 | 49 | 57 |
| Tax % | 29.61% | 28.11% | 25.09% | 27.86% | 29.79% | 25.07% | 26.41% | 25.21% | 25.55% | 24.84% | 25.26% |
| Net Profit | 33 | 27 | 31 | 37 | 37 | 37 | 27 | 35 | 33 | 37 | 43 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 14.37 | 14.12 | 10.33 | 13.28 | 12.87 | 14.12 | — |
| Dividend Payout % | 9.93% | 23.79% | 22.93% | 26.22% | 27.84% | 28.33% | 38.72% | 31.99% | 19.43% | 21.25% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 4%
- 5 Years:
- 6%
- 3 Years:
- 1%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 0%
- 5 Years:
- 0%
- 3 Years:
- 11%
STOCK PRICE CAGR
- 10 Years:
- -1%
- 5 Years:
- -7%
- 3 Years:
- -5%
- 1 Year:
- 0%
RETURN ON EQUITY
- 10 Years:
- 11%
- 5 Years:
- 8%
- 3 Years:
- 8%
- Last Year:
- 8%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| 217 | 235 | 256 | 268 | 317 | 368 | 382 | 392 | 415 | 436 | |
| 109 | 123 | 89 | 59 | 48 | 59 | 18 | 15 | 12 | 31 | |
| Trade Payables | 36 | 41 | 16 | 20 | 26 | 24 | 28 | 23 | 28 | 33 |
| 29 | 30 | 40 | 50 | 49 | 54 | 44 | 39 | 39 | 44 | |
| Total Liabilities | 399 | 441 | 414 | 409 | 453 | 518 | 484 | 482 | 507 | 558 |
| 169 | 176 | 173 | 178 | 177 | 187 | 179 | 174 | 168 | 178 | |
| Capital Work in Progress | 0 | 1 | 0 | 3 | 9 | 2 | 0 | 1 | 3 | 6 |
| 10 | 11 | 8 | 6 | 24 | 51 | 67 | 71 | 56 | 56 | |
| 71 | 98 | 80 | 99 | 124 | 136 | 122 | 126 | 139 | 154 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 88 | 111 | 130 | |
| Cash & Bank | 2 | 2 | 2 | 1 | 3 | 2 | 3 | 3 | 6 | 6 |
| 146 | 155 | 151 | 122 | 116 | 140 | 114 | 20 | 23 | 29 | |
| Total Assets | 399 | 441 | 414 | 409 | 453 | 518 | 484 | 482 | 507 | 558 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 36 | 27 | 75 | 88 | 58 | 27 | 83 | 38 | 9 | 21 | |
| Cash from Investing | -25 | -17 | -8 | -20 | -27 | -5 | -26 | -27 | 6 | -33 |
| Cash from Financing | -0 | 3 | -51 | -55 | -19 | -12 | -45 | -11 | -12 | -8 |
| -0 | 0 | -1 | -1 | 1 | -1 | 1 | -0 | 3 | -20 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-02 - Plastiblends India Limited has informed the Exchange regarding 'Audio Recording of 35th Annual General Meeting'.
2026-08-26 - Plastiblends India Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 24, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-24 - Plastiblends India Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 24, 2026
2026-08-04 - Plastiblends India Limited has informed the Exchange about Copy of Newspaper Publication post dispatch informing about 35th Annual General Meeting and e-voting
2026-07-31 - Plastiblends India Limited has informed the Exchange that Record date for the purpose of Dividend is 17-Aug-2026.
2026-07-31 - Plastiblends India Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 24, 2026
2026-07-29 - Plastiblends India Limited has informed the Exchange about Copy of Newspaper Publication informing about 35th Annual General Meeting of the Company
2026-07-29 - Varun S. Kabra has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
2026-07-13 - Plastiblends India Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
News
Recent coverage and analyst commentary for PLASTIBLEN
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