Silkflex Polymers (India) Ltd.

•

silkflexindia.inBSE: -NSE: SILKFLEX

Market Cap₹ 304 Cr.

Current Price

High / Low₹ 262 / 76

Stock P/E25.0

Book Value₹ 41

Price to Book2.52

Dividend Yield0.00 %

ROCE22.8 %

ROE29.2 %

Face Value₹ 10

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ABOUT

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Oil Gas & Consumable Fuels

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Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.

Confidence

78%

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PROS

Company has a good return on equity (ROE) track record: 3 Years ROE 32.2%
Company has a healthy return on capital (ROCE) of 25.0%
Company has delivered good sales growth of 39.6% CAGR over last 5 years
Operating margins have improved to 20.0% from 5.9%
Working capital cycle has improved - days down from 163 to 47

CONS

Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.32x)
Equity base is being diluted - shares outstanding up 364.3%
Free cash flow has been persistently negative
Total debt has risen sharply - up 72.2% year on year

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

Peer comparison

Oil Gas & Consumable FuelsTradingTrading

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

S.No.	Name
1.	ADANIENT	2894.80	52.64	391875.62	0.04	-1461.54	-249.67	32923.98	49.92	13.30	15.57
2.	PREMIERENE	999.50	27.25	45372.45	0.10	471.92	53.32	2462.59	35.25	33.72	29.03
3.	CPPLUS	3715.75	92.10	43957.48	0.04	142.20	332.51	1402.42	89.51	29.48	14.52
4.	AEGISLOG	1242.80	34.86	43622.28	0.70	544.84	210.70	2356.86	37.07	19.76	30.28
5.	REDINGTON	363.00	16.68	28378.41	1.65	453.49	94.65	34922.47	34.57	18.96	2.03
6.	HONASA	470.45	61.63	15337.81	0.64	90.45	118.87	755.95	27.00	8.99	14.58
7.	LLOYDSENT	70.95	96.45	10830.89	0.21	109.98	-55.77	563.03	70.15	12.84	18.07
8.	SGMART	825.65	83.70	10406.10	0.00	455.80	1310.71	13085.70	1044.08	10.43	4.49
9.	MMTC	62.14	20.84	9321.00	0.00	104.24	135.52	0.68	-50.00	33.46	-1423.53
10.	ENTERO	1799.70	62.46	7832.85	0.00	52.05	72.17	1940.50	38.23	10.93	5.00
11.	CELLO	346.70	24.48	7658.08	0.43	73.40	-8.99	526.72	-0.43	17.15	18.80
12.	SILKFLEX	261.55	24.98	303.58	0.00	4.66	—	39.07	—	22.77	23.06

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2024	Mar 2025	Dec 2025	Mar 2026
	32	13	34	39
	29	10	26	30
Operating Profit	3	3	7	9
OPM %	9.71%	21.26%	21.20%	23.06%
Other Income	0	0	0	0
Interest	1	1	1	2
Depreciation	0	0	1	1
	2	2	6	6
Tax %	24.90%	32.20%	26.18%	25.36%
Net Profit	2	1	4	5
	2	1	4	4
Equity Capital	12	12	12	12
Reserves	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	21	28	44	50	80	110	117
	19	26	42	43	68	88	95
Operating Profit	1	2	3	7	12	23	—
OPM %	7	7	6	15	15	20	—
Other Income	0	0	0	0	0	1	0
Interest	1	1	1	2	3	4	4
Depreciation	0	0	0	0	0	2	2
	1	1	1	5	9	16	16
Tax %	25	26	25	25	26	26	26
Net Profit	0	1	1	4	7	12	12
EPS	2	3	3	5	6	10	—
Dividend Payout %	0	0	0	0	0	0	—
Minority Interest	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0
Adjusted EPS	1	1	1	5	6	10	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 40%
3 Years:: 35%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 93%
3 Years:: 145%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 243%

RETURN ON EQUITY

10 Years:: —
5 Years:: 24%
3 Years:: 32%
Last Year:: 29%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-
Equity Capital	2	2	2	8	12	12
	3	5	6	4	24	36
	2	8	11	14	19	20
Trade Payables	1	1	1	8	6	15
	5	4	3	4	22	50
Total Liabilities	13	20	24	38	83	132
ASSETS	-	-	-	-	-	-
	1	3	4	11	16	66
Capital Work in Progress	1	0	0	1	1	6
	2	1	1	0	0	0
	5	11	15	16	30	29
	0	0	0	6	10	20
Cash & Bank	0	0	0	0	0	4
	4	4	4	4	25	6
Total Assets	13	20	24	38	83	132
Total Debt	6	10	14	15	36	62
Net Working Capital	5	5	5	1	36	14
Contingent Liabilities	0	0	0	0	0	0
Book Value per Share	24.99	29.52	33.32	15.09	30.68	40.96
Face Value	10.00	10.00	10.00	10.00	10.00	10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-0	-4	-1	9	-30	29
Cash from Investing	-1	-0	-1	-9	-5	-49
Cash from Financing	2	5	2	0	35	22
	-0	-0	-0	0	0	2
Free Cash Flow	-0	-5	-2	-0	-35	-28
OCF / Net Profit	-0.38	-6.25	-1.15	2.18	-4.32	2.40
Cumulative 5-Year FCF	0	0	0	0	0	-71

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	2.21	2.74	3.32	4.84	6.03	10.47
Book Value (₹)	24.99	29.52	33.32	15.09	30.68	40.96
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	0.76	1.10	1.51	5.43	6.36	12.09
PROFITABILITY
Operating Margin %	7.06%	6.69%	5.88%	14.27%	14.95%	19.96%
Net Margin %	2.19%	2.47%	1.87%	7.82%	8.73%	11.03%
ROE %	8.83%	10.96%	10.57%	38.16%	29.24%	29.23%
ROCE %	12.53%	11.58%	11.25%	28.14%	24.08%	22.77%
	3.46%	4.19%	3.83%	12.67%	11.58%	11.34%
EFFICIENCY
Debtor Days	49	33	18	29	36	49
Inventory Days	92	108	106	112	106	99
Payable Days	13	10	9	47	44	48
	128	130	115	94	98	100
FINANCIAL HEALTH
Debt to Equity (x)	1.19x	1.35x	1.63x	1.24x	1.02x	1.31x
Interest Coverage (x)	1.75x	2.26x	2.01x	4.11x	4.68x	4.72x
	2.31x	1.46x	1.37x	1.04x	2.28x	1.31x
GROWTH
Revenue Growth %	0.00%	34.08%	59.20%	13.49%	59.44%	37.49%
Operating Profit Growth %	0.00%	27.12%	39.85%	185.00%	66.28%	82.83%
Net Profit Growth %	0.00%	51.25%	21.04%	373.28%	78.17%	73.61%
	0.00%	0.00%	0.00%	45.62%	24.72%	73.61%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	12.73x	9.88x
P/B (x)	0.00x	0.00x	0.00x	0.00x	2.50x	2.52x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	3.13x	10.16x	7.91x

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	69.89	69.89	69.89	69.89	69.89	69.89	70.14	70.14
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	4.76	4.88	8.01	8.94	8.94	8.94	8.94	8.94
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	25.36	25.24	22.10	21.17	21.17	21.17	20.91	20.91

Documents

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

No announcements filed.

News

Recent coverage and analyst commentary for SILKFLEX

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Silkflex Polymers (India) Ltd.

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Name

ADANIENT

2894.80

52.64

391875.62

0.04

-1461.54

-249.67

32923.98

49.92

13.30

15.57

PREMIERENE

999.50

27.25

45372.45

0.10

471.92

53.32

2462.59

35.25

33.72

29.03

CPPLUS

3715.75

92.10

43957.48

0.04

142.20

332.51

1402.42

89.51

29.48

14.52

AEGISLOG

1242.80

34.86

43622.28

0.70

544.84

210.70

2356.86

37.07

19.76

30.28

REDINGTON

363.00

16.68

28378.41

1.65

453.49

94.65

34922.47

34.57

18.96

2.03

HONASA

470.45

61.63

15337.81

0.64

90.45

118.87

755.95

27.00

8.99

14.58

LLOYDSENT

70.95

96.45

10830.89

0.21

109.98

-55.77

563.03

70.15

12.84

18.07

SGMART

825.65

83.70

10406.10

0.00

455.80

1310.71

13085.70

1044.08

10.43

4.49

MMTC

62.14

20.84

9321.00

0.00

104.24

135.52

0.68

-50.00

33.46

-1423.53

ENTERO

1799.70

62.46

7832.85

0.00

52.05

72.17

1940.50

38.23

10.93

5.00

CELLO

346.70

24.48

7658.08

0.43

73.40

-8.99

526.72

-0.43

17.15

18.80

SILKFLEX

261.55

24.98

303.58

0.00

4.66

—

39.07

—

22.77

23.06

Dec 2024

Mar 2025

Dec 2025

Mar 2026

Operating Profit

OPM %

9.71%

21.26%

21.20%

23.06%

Other Income

Interest

Depreciation

Tax %

24.90%

32.20%

26.18%

25.36%

Net Profit

Equity Capital

Reserves

Promoter Pledge %

0.00%

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

110

117

Operating Profit

—

OPM %

—

Other Income

Interest

Depreciation

Tax %

Net Profit

EPS

—

Dividend Payout %

—

Minority Interest

Share of Associates

Adjusted EPS

—

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

LIABILITIES

Equity Capital

Trade Payables

Total Liabilities

132

ASSETS

Capital Work in Progress

Cash & Bank

Total Assets

132

Total Debt

Net Working Capital

Contingent Liabilities

Book Value per Share

24.99

29.52

33.32

15.09

30.68

40.96

Face Value

10.00

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-0

-4

-1

-30

Cash from Investing

-1

-0

-1

-9

-5

-49

Cash from Financing

-0

Free Cash Flow

-0

-5

-2

-0

-35

-28

OCF / Net Profit

-0.38

-6.25

-1.15

2.18

-4.32

2.40

Cumulative 5-Year FCF

-71

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

2.21

2.74

3.32

4.84

6.03

10.47

Book Value (₹)

24.99

29.52

33.32

15.09

30.68

40.96

Dividend per Share (₹)

0.00

Cash EPS (₹)

0.76

1.10

1.51

5.43

6.36

12.09

PROFITABILITY

Operating Margin %

7.06%

6.69%

5.88%

14.27%

14.95%

19.96%

Net Margin %

2.19%

2.47%

1.87%

7.82%

8.73%

11.03%

ROE %

8.83%

10.96%

10.57%

38.16%

29.24%

29.23%

ROCE %

12.53%

11.58%

11.25%

28.14%

24.08%

22.77%

3.46%

4.19%

3.83%

12.67%

11.58%

11.34%

EFFICIENCY

Debtor Days

Inventory Days

108

106

112

106

Payable Days

128

130

115

100

FINANCIAL HEALTH

Debt to Equity (x)

1.19x

1.35x

1.63x

1.24x

1.02x

1.31x

Interest Coverage (x)

1.75x

2.26x

2.01x

4.11x

4.68x

4.72x

2.31x

1.46x

1.37x

1.04x

2.28x

1.31x

GROWTH

Revenue Growth %

0.00%

34.08%

59.20%

13.49%

59.44%

37.49%

Operating Profit Growth %

0.00%

27.12%

39.85%

185.00%

66.28%

82.83%

Net Profit Growth %

0.00%

51.25%

21.04%

373.28%

78.17%

73.61%

0.00%

45.62%

24.72%

73.61%

VALUATION

P/E (x)

0.00x

12.73x

9.88x

P/B (x)

0.00x

2.50x

2.52x

Dividend Yield %

0.00%

0.00x

3.13x

10.16x

7.91x

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

69.89

70.14

FIIs

0.00

4.76

4.88

8.01

8.94

Government

0.00

25.36

25.24

22.10

21.17

20.91

Silkflex Polymers (India) Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Silkflex Polymers (India) Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI