Price
Financials
Standalone, Rs crore| Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Sales | 51 | 54 | 54 | 54 | 57 |
| Expenses | 48 | 50 | 51 | 54 | 60 |
| Operating Profit | 3 | 4 | 2 | 0 | -3 |
| OPM % | 6% | 7% | 3.8% | 0.2% | -4.8% |
| Other Income | 2 | 1 | 1 | 1 | 2 |
| Interest | 1 | 1 | 0 | 0 | 1 |
| Depreciation | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | 2 | 2 | 0 | -1 | -3 |
| Tax % | 0% | 32% | 76% | 0% | -1% |
| Net Profit | 2 | 1 | 0 | -1 | -3 |
| EPS in Rs | 1.49 | 0.75 | 0.04 | -0.62 | -2.08 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales | 59 | 66 | 80 | 66 | 92 | 108 | 111 |
| Expenses | 56 | 63 | 79 | 63 | 86 | 102 | 113 |
| Operating Profit | 2 | 2 | 2 | 3 | 6 | 6 | -3 |
| OPM % | 3.7% | 3.6% | 1.9% | 4.0% | 7% | 6% | -2.4% |
| Other Income | 0 | 0 | 0 | 1 | 2 | 1 | 3 |
| Interest | 1 | 1 | 1 | 1 | 3 | 2 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 4 | 4 | 3 |
| Profit before tax | 1 | 1 | 0 | 1 | 1 | 2 | -4 |
| Tax % | 31% | 17% | 32% | 47% | 27% | 43% | -0% |
| Net Profit | 1 | 1 | 0 | 1 | 1 | 1 | -4 |
| EPS in Rs | 1.92 | 0.93 | 0.73 | -2.70 | |||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 68% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 11% | 19% | 3% | ||
| Compounded Profit Growth | % | % | % | -468% | ||
| Stock Price CAGR | % | % | % | -30% | ||
| Return on Equity | % | -1% | -2% | -9% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 3 | 3 | 11 | 15 | 15 |
| Reserves | 11 | 12 | 17 | 22 | 14 | 36 | 31 |
| Borrowings | 8 | 5 | 13 | 22 | 19 | 8 | 13 |
| Other Liabilities | 4 | 4 | 6 | 8 | 27 | 22 | 23 |
| Total Liabilities | 25 | 22 | 38 | 54 | 71 | 81 | 82 |
| Fixed Assets | 6 | 6 | 7 | 27 | 24 | 23 | 20 |
| CWIP | 0 | 0 | 4 | 0 | 0 | 1 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 19 | 16 | 27 | 27 | 46 | 57 | 61 |
| Total Assets | 25 | 22 | 38 | 54 | 71 | 81 | 82 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 4 | -6 | 4 | 6 | -10 | 2 | |
| Cash from Investing Activity | -0 | -6 | -17 | -2 | -5 | 0 | |
| Cash from Financing Activity | -4 | 13 | 12 | -5 | 15 | -2 | |
| Net Cash Flow | 0 | 0 | -0 | -1 | -0 | 0 | |
| Free Cash Flow | 4 | -13 | -14 | 5 | -12 | 1 | |
| CFO/OP | 200% | -397% | 149% | 105% | -158% | -95% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 44 | 54 | 46 | 43 | 56 | 55 | 75 |
| Inventory Days | 64 | 29 | 53 | 71 | 129 | 133 | 118 |
| Days Payable | 16 | 12 | 24 | 41 | 124 | 86 | 81 |
| Cash Conversion Cycle | 93 | 70 | 76 | 73 | 61 | 102 | 112 |
| Working Capital Days | 31 | 35 | 29 | 34 | 30 | 81 | 73 |
| ROCE % | 9% | 4% | 5% | 9% | 7% | -6% |
| Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|
| Promoters | 67.08% | 67.08% | 67.08% | 67.08% |
| FIIs | 0.69% | 0.00% | 0.00% | 0.00% |
| Public | 32.23% | 32.92% | 32.92% | 32.92% |
| No. of Shareholders | 1,683 | 1,463 | 1,382 | 1,294 |
Fundamentals
Market Cap₹ 17.6 Cr.
Current Price₹ 11.4
Book Value₹ 30.0
ROCE-5.50 %
ROE-8.56 %
Dividend Yield4.39 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)3%
Compounded Profit Growth (TTM)-468%
Standalone figures.
Valuation
Market capRs 18 Cr
Enterprise valueRs 40 Cr
P/E (TTM)34.07x
Price to book0.76x
Price to sales0.28x
EV / EBITDA11.69x
EV / EBIT18.66x
EV / sales0.60x
Price to cash flow4.84x
Earnings yield2.94%
Profitability
Operating margin (excl. other income)4.04%
Operating margin (incl. other income)5.15%
EBITDA margin5.15%
Pre-tax margin1.54%
Net profit margin0.82%
ROE2.45%
ROCE5.40%
ROA1.17%
ROE, 3-year average4.03%
ROCE, 3-year average6.11%
ROA, 3-year average2.20%
ROIC (approx.)2.47%
Tax rate47.06%
Other income / net worth3.00%
Growth
Sales growth (latest year)-17.73%
Profit growth (latest year)92.86%
Sales CAGR, 3 years4.11%
Profit CAGR, 3 years-0.61%
Per share
EPS (TTM)Rs 0.35
EPS (latest year)Rs 1.92
EPS, 3-year averageRs 2.63
Book value per shareRs 15.81
Sales per shareRs 42.90
Cash flow per shareRs 2.47
Free cash flow per shareRs 0.65
Efficiency
Asset turnover1.22x
Fixed asset turnover2.44x
Inventory turnover5.44x
Inventory days67 days
Debtor days43 days
Debtors turnover8.44x
Creditor days81 days
Cash conversion cycle112 days
Working capital days73 days
Leverage
Total debtRs 22 Cr
Cash and bankRs 1 Cr
Net debtRs 21 Cr
Debt to equity0.91x
Net debt / EBITDA6.28x
Interest coverage1.92x
Owners' fund to total sources44.92%
Debt to assets40.88%
Cash flow
Cash from Operating Activity (latest year)Rs 4 Cr
Cash from Investing Activity (latest year)Rs -17 Cr
Cash from Financing Activity (latest year)Rs 12 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs 1 Cr
FCFE (approx.: FCF + change in debt)Rs 11 Cr
Sales to cash flow17.38x
Statement figures
Net sales (TTM)Rs 66 Cr
Net sales (latest year)Rs 66 Cr
Operating profit excl. other income (latest year)Rs 3 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 3 Cr
PBDT (TTM)Rs 2 Cr
Profit before tax (TTM)Rs 1 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs 1 Cr
Net profit (latest year)Rs 1 Cr
Depreciation (TTM)Rs 1 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 56 Cr
Total expenditure (latest year)Rs 63 Cr
Total income (latest year)Rs 67 Cr
Share capitalRs 3 Cr
ReservesRs 22 Cr
Shareholders' fundsRs 24 Cr
Total assetsRs 54 Cr
Net blockRs 27 Cr
Capital work in progressRs 0 Cr
ReceivablesRs 8 Cr
InventoryRs 10 Cr
Other liabilitiesRs 8 Cr
Shares outstanding (crore)1.54
Ownership
Promoter holding67.08%
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 34.1 is at the 19th percentile of its own 2.2-year range
(median 57.0, low 19.5, high 100.9).
P/B 0.76 is at the 4th percentile (median 1.32).
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 | SPPPOLY | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +1.3% | -2.8% | +4.1 pts |
| 1 month | +1.7% | -6.8% | +8.5 pts |
| 3 months | -15.8% | -7.6% | -8.2 pts |
| 6 months | -27.6% | +0.4% | -28.0 pts |
| 1 year | -34.3% | -9.9% | -24.4 pts |
Red flags
F-score 6 of 8| look | Profit leans on other income Other income was 72% of pre-tax profit in 2026 |
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
Mar 2026Sales ₹57 Cr +11.8% vs Mar 2024.
Net loss ₹3 Cr.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| EPL Ltd | 7,465 | 18.2 | 17.8 % |
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| Polyplex Corporation Ltd | 3,329 | 21.4 | 0.89 % |
| Jindal Poly Films Ltd | 2,938 | 50.2 | -1.99 % |
| XPRO India Ltd | 2,724 | 83.4 | 3.78 % |
| Cosmo First Ltd | 2,188 | 12.8 | 11.2 % |
| Knack Packaging Ltd | 2,161 | 21.2 | 34.1 % |
| Mold-Tek Packaging Ltd | 2,134 | 28.1 | 13.3 % |
| Huhtamaki India Ltd | 1,780 | 13.0 | 12.0 % |
| Arrow Greentech Ltd | 1,314 | 20.6 | 29.6 % |
| Commercial Syn Bags Ltd | 1,099 | 34.8 | 15.0 % |
| Dhunseri Ventures Ltd | 1,002 | 5.25 | 6.74 % |
| Ester Industries Ltd | 882 | 2.75 % |
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.
EPS in the scrip is zero (4 trailing quarters)Less than 100 unique PAN traded in previous 30 daysSME scrip is not regularly traded
Quick answers
What is the market cap of SPP Polymer Ltd?
SPP Polymer Ltd (SPPPOLY) has a market capitalisation of Rs 17.6 Cr. at the 2026-10-01 close.
What were SPP Polymer Ltd's latest quarterly results?
In the Mar 2026 quarter, SPP Polymer Ltd sales was Rs 57 Cr (+11.8% vs Mar 2024) with a net loss of Rs 3 Cr.
What is the 52-week high and low of SPP Polymer Ltd?
The 52-week high is Rs 18.15 and the 52-week low is Rs 10.30.