Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 5.31 | 6.06 | 5.57 | 5.84 | 5.90 | 5.43 | 4.88 | 4.36 | 3.86 | 4.84 | 4.57 | 4.25 |
| Expenses | 4.50 | 5.36 | 4.25 | 5.33 | 5.05 | 5.98 | 4.33 | 3.76 | 4.01 | 4.71 | 4.93 | 3.96 |
| Operating Profit | 0.81 | 0.70 | 1.32 | 0.51 | 0.85 | -0.55 | 0.55 | 0.60 | -0.15 | 0.13 | -0.36 | 0.29 |
| OPM % | 15.25% | 11.55% | 23.70% | 8.73% | 14.41% | -10.13% | 11.27% | 13.76% | -3.89% | 2.69% | -7.88% | 6.82% |
| Other Income | 0.00 | 0.00 | 0.02 | 0.01 | 0.02 | 2.31 | 0.04 | 0.00 | 0.00 | 0.01 | 0.23 | 0.11 |
| Interest | 0.51 | 0.50 | 0.54 | 0.54 | 0.55 | 0.54 | 0.54 | 0.52 | 0.53 | 0.53 | 0.53 | 0.53 |
| Depreciation | 0.25 | 0.26 | 0.28 | 0.32 | 0.34 | 0.34 | 0.35 | 0.36 | 0.36 | 0.36 | 0.35 | 0.36 |
| Profit before tax | 0.05 | -0.06 | 0.52 | -0.34 | -0.02 | 0.88 | -0.30 | -0.28 | -1.04 | -0.75 | -1.01 | -0.49 |
| Tax % | 40.00% | 0.00% | -5.77% | 0.00% | -100.00% | 9.09% | 10.00% | -10.71% | -2.88% | -8.00% | -8.91% | -6.12% |
| Net Profit | 0.04 | -0.07 | 0.56 | -0.33 | 0.00 | 0.80 | -0.33 | -0.26 | -1.02 | -0.69 | -0.92 | -0.47 |
| EPS in Rs | 0.08 | -0.14 | 1.14 | -0.67 | 0.00 | 1.63 | -0.67 | -0.53 | -2.08 | -1.41 | -1.88 | -0.96 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 36.76 | 39.56 | 35.61 | 37.53 | 30.02 | 27.61 | 30.55 | 26.22 | 23.02 | 22.06 | 17.63 | 17.52 |
| Expenses | 33.56 | 36.47 | 33.38 | 34.38 | 27.93 | 24.54 | 27.25 | 23.16 | 19.89 | 20.70 | 17.42 | 17.61 |
| Operating Profit | 3.20 | 3.09 | 2.23 | 3.15 | 2.09 | 3.07 | 3.30 | 3.06 | 3.13 | 1.36 | 0.21 | -0.09 |
| OPM % | 8.71% | 7.81% | 6.26% | 8.39% | 6.96% | 11.12% | 10.80% | 11.67% | 13.60% | 6.17% | 1.19% | -0.51% |
| Other Income | 0.08 | 0.04 | 0.55 | 0.05 | -1.69 | 0.04 | 0.08 | 0.03 | 0.03 | 2.38 | 0.24 | 0.35 |
| Interest | 1.91 | 1.81 | 1.40 | 2.00 | 2.17 | 2.20 | 2.21 | 1.86 | 2.07 | 2.17 | 2.10 | 2.12 |
| Depreciation | 0.98 | 0.98 | 1.01 | 1.00 | 1.05 | 1.20 | 1.26 | 1.08 | 1.04 | 1.35 | 1.43 | 1.43 |
| Profit before tax | 0.39 | 0.34 | 0.37 | 0.20 | -2.82 | -0.29 | -0.09 | 0.15 | 0.05 | 0.22 | -3.08 | -3.29 |
| Tax % | 30.77% | 29.41% | 18.92% | 25.00% | 2.13% | 3.45% | 22.22% | 53.33% | -20.00% | 40.91% | -6.82% | |
| Net Profit | 0.27 | 0.24 | 0.30 | 0.15 | -2.88 | -0.30 | -0.10 | 0.06 | 0.06 | 0.14 | -2.88 | -3.10 |
| EPS in Rs | 0.55 | 0.49 | 0.61 | 0.31 | -5.88 | -0.61 | -0.20 | 0.12 | 0.12 | 0.29 | -5.88 | -6.33 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | -7% | -9% | -12% | -15% | ||
| Compounded Profit Growth | % | % | % | -47% | ||
| Stock Price CAGR | 7% | 30% | 18% | 15% | ||
| Return on Equity | -12% | -28% | -49% | -113% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5.44 | 5.44 | 5.44 | 5.44 | 5.44 | 5.44 | 5.44 | 5.44 | 5.44 | 5.44 | 5.44 | 5.44 |
| Reserves | 1.31 | 1.58 | 1.78 | 2.09 | 2.24 | -0.62 | -1.62 | -1.72 | -1.66 | -1.60 | -1.45 | -4.33 |
| Borrowings | 20.39 | 20.26 | 21.55 | 21.59 | 22.75 | 21.94 | 24.51 | 27.42 | 29.34 | 32.77 | 33.94 | 34.85 |
| Other Liabilities | 2.88 | 2.66 | 2.84 | 3.39 | 4.30 | 4.56 | 4.64 | 5.86 | 4.31 | 5.44 | 5.55 | 6.69 |
| Total Liabilities | 30.02 | 29.94 | 31.61 | 32.51 | 34.73 | 31.32 | 32.97 | 37.00 | 37.43 | 42.05 | 43.48 | 42.65 |
| Fixed Assets | 10.83 | 10.67 | 11.43 | 11.89 | 11.51 | 10.34 | 9.72 | 9.86 | 8.79 | 8.93 | 9.05 | 7.66 |
| CWIP | 0.41 | 0.68 | 0.21 | 0.21 | 2.36 | 0.00 | 0.00 | 0.00 | 1.12 | 1.24 | 1.32 | 2.38 |
| Investments | 0.06 | 0.02 | 0.01 | 0.02 | 0.02 | 0.01 | 0.02 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 |
| Other Assets | 18.72 | 18.57 | 19.96 | 20.39 | 20.84 | 20.97 | 23.23 | 27.11 | 27.49 | 31.85 | 33.08 | 32.58 |
| Total Assets | 30.02 | 29.94 | 31.61 | 32.51 | 34.73 | 31.32 | 32.97 | 37.00 | 37.43 | 42.05 | 43.48 | 42.65 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 7.90 | 1.25 | 2.66 | 1.81 | 4.35 | 0.77 | -0.07 | 2.26 | -0.01 | -0.61 | -0.34 | 2.68 |
| Cash from Investing Activity | -0.73 | -0.95 | -1.30 | -0.76 | -2.76 | 0.69 | -0.52 | -1.36 | -1.20 | -1.34 | -1.38 | -1.08 |
| Cash from Financing Activity | -7.58 | 0.07 | -0.90 | -1.93 | -1.38 | -1.46 | 0.37 | -0.87 | 1.31 | 1.88 | 1.61 | -1.54 |
| Net Cash Flow | -0.41 | 0.37 | 0.46 | -0.88 | 0.21 | 0.00 | -0.22 | 0.03 | 0.10 | -0.07 | -0.11 | 0.06 |
| Free Cash Flow | 6.94 | 0.17 | 1.37 | 0.35 | 1.57 | 1.47 | -0.65 | 0.87 | -1.15 | -1.91 | -1.85 | 1.58 |
| CFO/OP | 217% | 43% | 90% | 86% | 142% | 39% | -2% | 68% | -0% | -19% | -24% | 1,276% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 105.30 | 95.02 | 99.37 | 123.20 | 106.79 | 127.06 | 142.11 | 130.23 | 121.39 | 138.42 | 138.65 | 166.66 |
| Inventory Days | 56.56 | 73.61 | 67.41 | 84.88 | 112.97 | 166.43 | 248.67 | 300.71 | 393.00 | 613.16 | 650.93 | 790.21 |
| Days Payable | 12.20 | 20.88 | 15.03 | 24.92 | 20.32 | 56.54 | 55.86 | 80.25 | 60.88 | 95.27 | 93.81 | 119.31 |
| Cash Conversion Cycle | 149.66 | 147.76 | 151.75 | 183.16 | 199.44 | 236.94 | 334.92 | 350.69 | 453.51 | 656.31 | 695.77 | 837.56 |
| Working Capital Days | 8.56 | 27.50 | 29.43 | 42.84 | 29.47 | 50.09 | 85.53 | 92.36 | 151.18 | 231.34 | 308.74 | 340.57 |
| ROCE % | 9.15% | 8.38% | 7.64% | 4.87% | 7.32% | 3.92% | 6.93% | 7.13% | 6.26% | 6.08% | 0.19% | -2.65% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 49.61% | 49.61% | 49.61% | 49.61% | 49.61% | 49.61% | 49.61% | 49.61% | 49.61% | 49.61% | 49.61% | 49.61% |
| Public | 50.38% | 50.39% | 50.39% | 50.39% | 50.38% | 50.39% | 50.39% | 50.38% | 50.38% | 50.39% | 50.39% | 50.38% |
| No. of Shareholders | 856 | 876 | 900 | 904 | 941 | 958 | 961 | 999 | 1,019 | 1,036 | 1,064 | 1,064 |
Fundamentals
Market Cap₹ 13.0 Cr.
Current Price₹ 26.5
Book Value₹ 2.27
ROCE-2.65 %
ROE-113 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-15%
Compounded Profit Growth (TTM)-47%
Standalone figures.
Valuation
Market capRs 14 Cr
Enterprise valueRs 49 Cr
Price to book12.89x
Price to sales0.82x
EV / EBITDA188.45x
EV / sales2.80x
Price to cash flow5.34x
Earnings yield-21.67%
P/E, 3-year average122.26x
P/B, 3-year average5.71x
P/E, 5-year average120.48x
P/B, 5-year average4.09x
Profitability
Operating margin (excl. other income)1.19%
Operating margin (incl. other income)2.55%
EBITDA margin1.48%
Pre-tax margin-18.78%
Net profit margin-17.69%
Net margin, latest quarter-11.06%
ROE-112.94%
ROCE-2.65%
ROA-6.69%
ROE, 3-year average-35.93%
ROCE, 3-year average3.28%
ROA, 3-year average-2.07%
ROE, 5-year average-21.77%
ROCE, 5-year average4.65%
ROA, 5-year average-1.27%
ROIC (approx.)-3.05%
Tax rate6.82%
Other income / net worth21.62%
Growth
Sales growth (latest year)-20.08%
Profit growth (latest year)-2157.14%
Sales CAGR, 3 years-12.39%
Sales CAGR, 5 years-8.58%
Sales growth QoQ-7.00%
Sales growth YoY (latest quarter)-2.52%
Per share
EPS (TTM)Rs -5.70
EPS (latest year)Rs -5.30
EPS (latest quarter)Rs -0.86
EPS, 3-year averageRs -1.64
EPS, 5-year averageRs -1.00
Book value per shareRs 2.04
Sales per shareRs 32.23
Cash flow per shareRs 4.93
Free cash flow per shareRs 2.91
Efficiency
Asset turnover0.41x
Fixed asset turnover2.30x
Inventory turnover0.64x
Inventory days571 days
Debtor days167 days
Debtors turnover2.19x
Creditor days119 days
Cash conversion cycle838 days
Working capital days341 days
Leverage
Total debtRs 35 Cr
Cash and bankRs 0 Cr
Net debtRs 35 Cr
Debt to equity31.40x
Net debt / EBITDA133.42x
Interest coverage-0.55x
Owners' fund to total sources2.60%
Debt to assets81.71%
Cash flow
Cash from Operating Activity (latest year)Rs 3 Cr
Cash from Investing Activity (latest year)Rs -1 Cr
Cash from Financing Activity (latest year)Rs -2 Cr
Net Cash Flow (latest year)Rs 0 Cr
Free cash flow (latest year)Rs 2 Cr
FCFE (approx.: FCF + change in debt)Rs 2 Cr
Sales to cash flow6.58x
Statement figures
Net sales (TTM)Rs 18 Cr
Net sales (latest year)Rs 18 Cr
Sales (latest quarter)Rs 4 Cr
Operating profit excl. other income (latest year)Rs 0 Cr
Operating profit (latest quarter)Rs 0 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 0 Cr
PBDT (TTM)Rs -2 Cr
Profit before tax (TTM)Rs -3 Cr
Tax (latest year)Rs -0 Cr
Net profit (TTM)Rs -3 Cr
Net profit (latest year)Rs -3 Cr
Net profit (latest quarter)Rs -0 Cr
Depreciation (TTM)Rs 1 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 14 Cr
Total expenditure (latest year)Rs 17 Cr
Total income (latest year)Rs 18 Cr
Share capitalRs 5 Cr
ReservesRs -4 Cr
Shareholders' fundsRs 1 Cr
Total assetsRs 43 Cr
Net blockRs 8 Cr
Capital work in progressRs 2 Cr
InvestmentsRs 0 Cr
ReceivablesRs 8 Cr
InventoryRs 21 Cr
Other liabilitiesRs 7 Cr
Shares outstanding (crore)0.54
Ownership
Promoter holding49.61% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/B 12.89 is at the 98th percentile (median 1.99).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | 531397 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +7.9% | -2.8% | +10.6 pts |
| 1 month | +31.3% | -6.8% | +38.1 pts |
| 3 months | +25.7% | -7.6% | +33.3 pts |
| 3 years | +67.4% | +14.2% | +53.3 pts |
| 5 years | +279.8% | +27.9% | +251.9 pts |
Red flags
F-score 3 of 8No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹4 Cr -2.5% vs Jun 2025.
Net loss ₹0 Cr.
Activity
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No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Polycon International Ltd?
Polycon International Ltd (531397) has a market capitalisation of Rs 13.0 Cr. at the 2026-10-01 close.
What were Polycon International Ltd's latest quarterly results?
In the Jun 2026 quarter, Polycon International Ltd sales was Rs 4 Cr (-2.5% vs Jun 2025) with a net loss of Rs 0 Cr.