Barflex Polyfilms Ltd.

•

₹ 60.30.5%

2026-08-21

barflex.co.inBSE: -NSE: BARFLEX

Market Cap₹ 148 Cr.

Current Price₹ 60

High / Low₹ 82 / 50

Stock P/E0.0

Book Value₹ 39

Price to Book1.54

Dividend Yield0.00 %

ROCE9.5 %

ROE6.2 %

Face Value₹ 10

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ABOUT

KEY POINTS

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 25.6%
Working capital cycle has improved - days down from 304 to 193
Company comfortably covers its interest (18.2x coverage)

CONS

Receivables are growing faster than sales - a possible quality concern
A large part of profit comes from other income (26.0% of PBT)
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.15x)
Free cash flow has been persistently negative
Operating margins have contracted to 7.0% from 12.2%

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

Peer comparison

EDIT COLUMNS

Capital GoodsPlastic ProductsPlastic Products

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

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	SUPREMEIND	3659.00	45.02	46479.13	0.98	280.72	38.76	2717.66	4.16	21.49	17.33
2.	ASTRAL	1535.05	71.66	41239.14	0.26	120.20	51.77	1578.00	15.93	19.95	14.65
3.	GRWRHITECH	7110.10	42.59	16518.46	0.17	132.65	59.78	633.08	27.90	20.41	27.17
4.	SHAILY	3348.90	87.12	15403.35	0.09	48.01	16.75	280.67	13.77	19.55	29.59
5.	FINPIPE	158.70	16.00	9846.97	1.73	114.52	16.67	883.58	-15.30	17.40	12.09
6.	TIMETECHNO	191.50	19.30	9453.12	0.78	1178.60	1120.71	16927.10	1151.40	18.16	13.25
7.	KINGFA	5864.50	0.00	7947.21	0.00	80.21	101.58	688.57	49.06	30.70	16.12
8.	RESPONIND	156.60	41.21	4175.09	0.06	2.74	-94.51	192.87	-43.06	10.76	12.09
9.	POLYPLEX	1169.90	23.65	3672.60	0.26	171.07	386.02	2253.62	29.62	1.51	13.15
10.	PRINCEPIPE	282.75	0.00	3126.11	0.35	337.49	6900.41	6094.18	949.97	3.92	12.66
11.	NILKAMAL	2045.15	24.48	3051.88	0.98	24.40	59.20	819.73	-7.18	10.76	9.44
12.	BARFLEX	60.00	37.95	148.49	0.00	—	—	—	—	7.47	—

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

No standalone quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	93	109	110	98	114
	83	97	92	89	106
Operating Profit	11	13	24	21	10
OPM %	11	12	22	21	9
Other Income	1	1	6	12	2
Interest	0	0	0	0	1
Depreciation	1	1	1	1	1
	10	12	23	20	9
Tax %	19	18	24	23	33
Net Profit	8	10	17	15	6
EPS	4	4	8	6	2
Dividend Payout %	0	0	0	0	0
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	3	4	8	6	2
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	3	4	8	6	2

Mar 2022

: 93
: 83
Operating Profit: 11
OPM %: 11
Other Income: 1
Interest: 0
Depreciation: 1
: 10
Tax %: 19
Net Profit: 8
EPS: 4
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3

Mar 2023

: 109
: 97
Operating Profit: 13
OPM %: 12
Other Income: 1
Interest: 0
Depreciation: 1
: 12
Tax %: 18
Net Profit: 10
EPS: 4
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4

Mar 2024

: 110
: 92
Operating Profit: 24
OPM %: 22
Other Income: 6
Interest: 0
Depreciation: 1
: 23
Tax %: 24
Net Profit: 17
EPS: 8
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8

Mar 2025

: 98
: 89
Operating Profit: 21
OPM %: 21
Other Income: 12
Interest: 0
Depreciation: 1
: 20
Tax %: 23
Net Profit: 15
EPS: 6
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2026

: 114
: 106
Operating Profit: 10
OPM %: 9
Other Income: 2
Interest: 1
Depreciation: 1
: 9
Tax %: 33
Net Profit: 6
EPS: 2
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 1%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: -17%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -13%

RETURN ON EQUITY

10 Years:: —
5 Years:: 20%
3 Years:: 19%
Last Year:: 6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-
Equity Capital	23	23	23	25	25
	15	25	42	66	72
Trade Payables	5	4	5	4	7
	2	4	2	2	12
Total Liabilities	44	55	71	97	116
ASSETS	-	-	-	-	-
	6	6	5	5	32
Capital Work in Progress	0	0	0	2	0
	8	11	25	53	22
	14	8	10	10	18
	0	0	14	18	25
Cash & Bank	3	15	15	1	2
	13	15	2	8	18
Total Assets	44	55	71	97	116
Total Debt	0	0	0	0	7
Net Working Capital	30	41	59	81	60
Contingent Liabilities	4	4	0	0	0
Book Value per Share	16.51	20.97	28.34	36.75	39.10
Face Value	10.00	10.00	10.00	10.00	10.00
Total Debt	0	0	0	0	7
Net Working Capital	30	41	59	81	60
Contingent Liabilities	4	4	0	0	0
Book Value per Share	16.51	20.97	28.34	36.75	39.10
Face Value	10.00	10.00	10.00	10.00	10.00

Mar 2022

Equity Capital: 23
: 15
Trade Payables: 5
: 2
Total Liabilities: 44
: 6
Capital Work in Progress: 0
: 8
: 14
: 0
Cash & Bank: 3
: 13
Total Assets: 44
Total Debt: 0
Net Working Capital: 30
Contingent Liabilities: 4
Book Value per Share: 16.51
Face Value: 10.00
Total Debt: 0
Net Working Capital: 30
Contingent Liabilities: 4
Book Value per Share: 16.51
Face Value: 10.00

Mar 2023

Equity Capital: 23
: 25
Trade Payables: 4
: 4
Total Liabilities: 55
: 6
Capital Work in Progress: 0
: 11
: 8
: 0
Cash & Bank: 15
: 15
Total Assets: 55
Total Debt: 0
Net Working Capital: 41
Contingent Liabilities: 4
Book Value per Share: 20.97
Face Value: 10.00
Total Debt: 0
Net Working Capital: 41
Contingent Liabilities: 4
Book Value per Share: 20.97
Face Value: 10.00

Mar 2024

Equity Capital: 23
: 42
Trade Payables: 5
: 2
Total Liabilities: 71
: 5
Capital Work in Progress: 0
: 25
: 10
: 14
Cash & Bank: 15
: 2
Total Assets: 71
Total Debt: 0
Net Working Capital: 59
Contingent Liabilities: 0
Book Value per Share: 28.34
Face Value: 10.00
Total Debt: 0
Net Working Capital: 59
Contingent Liabilities: 0
Book Value per Share: 28.34
Face Value: 10.00

Mar 2025

Equity Capital: 25
: 66
Trade Payables: 4
: 2
Total Liabilities: 97
: 5
Capital Work in Progress: 2
: 53
: 10
: 18
Cash & Bank: 1
: 8
Total Assets: 97
Total Debt: 0
Net Working Capital: 81
Contingent Liabilities: 0
Book Value per Share: 36.75
Face Value: 10.00
Total Debt: 0
Net Working Capital: 81
Contingent Liabilities: 0
Book Value per Share: 36.75
Face Value: 10.00

Mar 2026

Equity Capital: 25
: 72
Trade Payables: 7
: 12
Total Liabilities: 116
: 32
Capital Work in Progress: 0
: 22
: 18
: 25
Cash & Bank: 2
: 18
Total Assets: 116
Total Debt: 7
Net Working Capital: 60
Contingent Liabilities: 0
Book Value per Share: 39.10
Face Value: 10.00
Total Debt: 7
Net Working Capital: 60
Contingent Liabilities: 0
Book Value per Share: 39.10
Face Value: 10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	7	15	8	-4	2
Cash from Investing	-9	-3	-8	-20	-8
Cash from Financing	-0	-0	-0	11	6
	-2	13	-1	-14	1
Free Cash Flow	7	15	8	-7	-24
OCF / Net Profit	0.87	1.52	0.46	-0.27	0.34
Cumulative 5-Year FCF	0	0	0	0	0
OCF / Net Profit	0.87	1.52	0.46	-0.27	0.34
Cumulative 5-Year FCF	0	0	0	0	0

Mar 2022

: 7
Cash from Investing: -9
Cash from Financing: -0
: -2
Free Cash Flow: 7
OCF / Net Profit: 0.87
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.87
Cumulative 5-Year FCF: 0

Mar 2023

: 15
Cash from Investing: -3
Cash from Financing: -0
: 13
Free Cash Flow: 15
OCF / Net Profit: 1.52
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.52
Cumulative 5-Year FCF: 0

Mar 2024

: 8
Cash from Investing: -8
Cash from Financing: -0
: -1
Free Cash Flow: 8
OCF / Net Profit: 0.46
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.46
Cumulative 5-Year FCF: 0

Mar 2025

: -4
Cash from Investing: -20
Cash from Financing: 11
: -14
Free Cash Flow: -7
OCF / Net Profit: -0.27
Cumulative 5-Year FCF: 0
OCF / Net Profit: -0.27
Cumulative 5-Year FCF: 0

Mar 2026

: 2
Cash from Investing: -8
Cash from Financing: 6
: 1
Free Cash Flow: -24
OCF / Net Profit: 0.34
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.34
Cumulative 5-Year FCF: 0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE	-	-	-	-	-
EPS (₹)	3.50	4.46	7.62	6.26	2.34
Book Value (₹)	16.51	20.97	28.34	36.75	39.10
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	3.85	4.80	7.85	6.47	2.77
PROFITABILITY	-	-	-	-	-
Operating Margin %	11.35%	12.19%	16.12%	8.61%	7.01%
Net Margin %	8.48%	9.26%	15.66%	15.84%	5.08%
ROE %	21.19%	23.82%	30.92%	19.94%	6.18%
ROCE %	26.05%	29.40%	41.32%	25.99%	9.45%
	18.17%	20.50%	27.41%	18.45%	5.46%
EFFICIENCY	-	-	-	-	-
Debtor Days	46	44	47	60	68
Inventory Days	53	36	31	39	45
Payable Days	24	19	21	22	23
	74	61	57	76	90
FINANCIAL HEALTH	-	-	-	-	-
Debt to Equity (x)	0.01x	0.00x	0.00x	0.00x	0.07x
Interest Coverage (x)	208.20x	60.39x	74.33x	89.79x	18.18x
	5.19x	5.97x	9.28x	14.75x	5.77x
GROWTH	-	-	-	-	-
Revenue Growth %	0.00%	16.76%	0.96%	-11.50%	16.85%
Operating Profit Growth %	0.00%	25.47%	77.82%	-12.48%	-50.54%
Net Profit Growth %	0.00%	27.59%	70.82%	-10.51%	-62.56%
	0.00%	0.00%	70.82%	-17.93%	-62.56%
VALUATION	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	7.49x	25.63x
P/B (x)	0.00x	0.00x	0.00x	1.27x	1.54x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.35x	5.54x	15.00x

Mar 2022

EPS (₹): 3.50
Book Value (₹): 16.51
Dividend per Share (₹): 0.00
Cash EPS (₹): 3.85
Operating Margin %: 11.35%
Net Margin %: 8.48%
ROE %: 21.19%
ROCE %: 26.05%
: 18.17%
Debtor Days: 46
Inventory Days: 53
Payable Days: 24
: 74
Debt to Equity (x): 0.01x
Interest Coverage (x): 208.20x
: 5.19x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 4.46
Book Value (₹): 20.97
Dividend per Share (₹): 0.00
Cash EPS (₹): 4.80
Operating Margin %: 12.19%
Net Margin %: 9.26%
ROE %: 23.82%
ROCE %: 29.40%
: 20.50%
Debtor Days: 44
Inventory Days: 36
Payable Days: 19
: 61
Debt to Equity (x): 0.00x
Interest Coverage (x): 60.39x
: 5.97x
Revenue Growth %: 16.76%
Operating Profit Growth %: 25.47%
Net Profit Growth %: 27.59%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 7.62
Book Value (₹): 28.34
Dividend per Share (₹): 0.00
Cash EPS (₹): 7.85
Operating Margin %: 16.12%
Net Margin %: 15.66%
ROE %: 30.92%
ROCE %: 41.32%
: 27.41%
Debtor Days: 47
Inventory Days: 31
Payable Days: 21
: 57
Debt to Equity (x): 0.00x
Interest Coverage (x): 74.33x
: 9.28x
Revenue Growth %: 0.96%
Operating Profit Growth %: 77.82%
Net Profit Growth %: 70.82%
: 70.82%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.35x

Mar 2025

EPS (₹): 6.26
Book Value (₹): 36.75
Dividend per Share (₹): 0.00
Cash EPS (₹): 6.47
Operating Margin %: 8.61%
Net Margin %: 15.84%
ROE %: 19.94%
ROCE %: 25.99%
: 18.45%
Debtor Days: 60
Inventory Days: 39
Payable Days: 22
: 76
Debt to Equity (x): 0.00x
Interest Coverage (x): 89.79x
: 14.75x
Revenue Growth %: -11.50%
Operating Profit Growth %: -12.48%
Net Profit Growth %: -10.51%
: -17.93%
P/E (x): 7.49x
P/B (x): 1.27x
Dividend Yield %: 0.00%
: 5.54x

Mar 2026

EPS (₹): 2.34
Book Value (₹): 39.10
Dividend per Share (₹): 0.00
Cash EPS (₹): 2.77
Operating Margin %: 7.01%
Net Margin %: 5.08%
ROE %: 6.18%
ROCE %: 9.45%
: 5.46%
Debtor Days: 68
Inventory Days: 45
Payable Days: 23
: 90
Debt to Equity (x): 0.07x
Interest Coverage (x): 18.18x
: 5.77x
Revenue Growth %: 16.85%
Operating Profit Growth %: -50.54%
Net Profit Growth %: -62.56%
: -62.56%
P/E (x): 25.63x
P/B (x): 1.54x
Dividend Yield %: 0.00%
: 15.00x

Shareholding Pattern

Numbers in percentages

TRADES

	Mar 2025	Sep 2025	Mar 2026
	66.73	67.22	67.22
	2.19	0.33	0.00
	3.83	0.86	0.31
Government	0.00	0.00	0.00
	27.25	31.59	32.48

Mar 2025

: 66.73
: 2.19
: 3.83
Government: 0.00
: 27.25

Sep 2025

: 67.22
: 0.33
: 0.86
Government: 0.00
: 31.59

Mar 2026

: 67.22
: 0.00
: 0.31
Government: 0.00
: 32.48

Documents

Announcements

Nothing filed yet.

Annual Reports

Annual Report FY2025
2025

Credit Ratings

Nothing filed yet.

Concalls

Jun 2025
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