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Bulkcorp Internl Overview

1. Business Overview

Bulkcorp International Ltd. is an Indian manufacturer and seller of various plastic products. The company primarily focuses on woven sacks, plastic packaging, and other related polymer-based solutions. Its core business model involves manufacturing these products from raw plastic granules (primarily polypropylene and polyethylene) and supplying them to a diverse client base across industries such as cement, fertilizers, chemicals, food grains, and consumer goods. The company makes money by selling these manufactured plastic products, earning a margin over the cost of raw materials, manufacturing expenses, and operational overheads.

2. Key Segments / Revenue Mix

While specific percentage breakdowns are not always publicly detailed for all companies, Bulkcorp International's revenue is primarily derived from the manufacturing and sale of Flexible Intermediate Bulk Containers (FIBCs), PP Woven Sacks, and other customized plastic packaging solutions. These categories cater to industrial packaging needs. FIBCs and woven sacks generally form the bulk of their revenue mix, serving various industries for bulk material handling and packaging.

3. Industry & Positioning

The Indian plastic products industry is large, diverse, and somewhat fragmented, with a mix of large integrated players and numerous small to medium-sized enterprises. It is highly dependent on demand from end-user industries like packaging, construction, automotive, and agriculture. Bulkcorp International Ltd. operates within the industrial packaging segment, particularly in woven sacks and FIBCs. In this space, they compete with several other manufacturers, positioning themselves through product quality, customization capabilities, and potentially cost-effectiveness, though they may not be among the absolute largest players in terms of overall plastic processing capacity in India.

4. Competitive Advantage (Moat)

Bulkcorp's competitive advantages are likely derived from:

Operational Efficiency & Cost Structure: Efficient manufacturing processes and effective raw material sourcing can lead to a cost advantage.

Product Customization: Ability to offer tailor-made packaging solutions for diverse industrial clients, fostering client relationships.

Client Relationships & Distribution: Established relationships with industrial clients and a reliable distribution network for their specialized products.

Quality & Certifications: Adherence to quality standards relevant for industrial packaging can provide an edge, especially for specialized products like food-grade or hazardous material packaging.

5. Growth Drivers

Growth in End-User Industries: Increased demand for packaged goods, construction materials, fertilizers, and chemicals will directly drive demand for industrial packaging.

Shift to Bulk Packaging: Growing preference for efficient bulk packaging solutions (like FIBCs) in various industries for logistics and cost-effectiveness.

Export Opportunities: Potential for increased exports of plastic packaging products to international markets.

New Product Development: Introduction of innovative or more sustainable plastic packaging solutions.

Infrastructure Development: Government focus on infrastructure projects boosts demand for cement and other materials requiring bulk packaging.

6. Risks

Raw Material Price Volatility: The prices of key raw materials like polypropylene (PP) and polyethylene (PE) granules are linked to crude oil prices, leading to significant cost fluctuations.

Environmental Regulations: Increasing global and domestic scrutiny on plastic waste and single-use plastics could lead to stricter regulations, impacting demand or requiring significant R&D for sustainable alternatives.

Intense Competition: The fragmented nature of the industry leads to price competition and pressure on margins.

Economic Slowdown: A general economic downturn in India or globally can reduce demand from key client industries.

Technological Obsolescence: Rapid advancements in packaging technology or materials could render existing products less competitive.

7. Management & Ownership

Bulkcorp International Ltd. is promoted by its founding family. The management typically comprises experienced professionals from the plastics and manufacturing sectors. Promoter ownership in Indian companies usually indicates a significant stake held by the founding family or group, which can influence long-term strategic decisions and commitment to the business. Specific details on individual management quality or exact promoter holding percentages would require examination of their latest annual reports or stock exchange filings.

8. Outlook

Bulkcorp International Ltd. operates in a crucial segment of the Indian economy, with plastic packaging being indispensable for various industrial and consumer goods. The demand for industrial packaging, especially woven sacks and FIBCs, is expected to grow, driven by economic expansion, infrastructure development, and increased manufacturing activity in India. However, the company faces inherent challenges such as fluctuating raw material costs and evolving environmental regulations regarding plastics. Its ability to maintain cost efficiencies, adapt to sustainability trends, and strengthen client relationships will be key to its sustained performance. The outlook is cautiously optimistic, balancing the secular growth trends in packaging demand with the operational and regulatory headwinds typical of the plastics industry.

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Bulkcorp Internl Key Financials

Market Cap ₹31 Cr.

Stock P/E 8.7

P/B 0.9

Current Price ₹41

Book Value ₹ 43.7

Face Value 10

52W High ₹94.6

Dividend Yield 0%

52W Low ₹ 41

Bulkcorp Internl Share Price

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Volume
Price

Bulkcorp Internl Quarterly Price

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Bulkcorp Internl Peer Comparison

Bulkcorp Internl Quarterly Results

#(Fig in Cr.) Sep 2023 Mar 2024 Sep 2024 Mar 2025 Sep 2025
Net Sales 18 45 26 60 33
Other Income 1 1 0 1 0
Total Income 18 47 26 61 34
Total Expenditure 16 41 24 55 30
Operating Profit 2 6 3 7 4
Interest 0 1 0 1 1
Depreciation 0 1 0 1 0
Exceptional Income / Expenses 0 0 0 0 0
Profit Before Tax 1 5 2 5 2
Provision for Tax 0 1 1 1 1
Profit After Tax 1 4 1 4 2
Adjustments 0 0 0 0 -0
Profit After Adjustments 1 4 1 4 2
Adjusted Earnings Per Share 5.9 6.3 1.8 4.7 2.4

Bulkcorp Internl Profit & Loss

#(Fig in Cr.) Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 31 48 38 45 60 164
Other Income 0 1 0 1 1 2
Total Income 32 49 39 47 61 168
Total Expenditure 29 46 36 41 55 150
Operating Profit 2 3 3 6 7 20
Interest 0 1 1 1 1 3
Depreciation 1 1 1 1 1 2
Exceptional Income / Expenses 0 0 0 0 0 0
Profit Before Tax 1 2 2 5 5 14
Provision for Tax 1 1 1 1 1 4
Profit After Tax 1 2 1 4 4 11
Adjustments 0 0 0 0 0 0
Profit After Adjustments 1 2 1 4 4 11
Adjusted Earnings Per Share 1.2 3.2 2.2 6.3 4.7 15.2

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 33% 8% 0% 0%
Operating Profit CAGR 17% 33% 0% 0%
PAT CAGR 0% 26% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -38% NA% NA% NA%
ROE Average 17% 32% 39% 39%
ROCE Average 21% 28% 27% 27%

Bulkcorp Internl Balance Sheet

#(Fig in Cr.) Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 2 4 5 9 31
Minority's Interest 0 0 0 0 0
Borrowings 4 4 1 1 2
Other Non-Current Liabilities 0 0 0 1 1
Total Current Liabilities 14 14 12 21 9
Total Liabilities 20 22 18 32 43
Fixed Assets 6 6 6 6 8
Other Non-Current Assets 0 0 0 2 1
Total Current Assets 14 16 12 24 33
Total Assets 20 22 18 32 43

Bulkcorp Internl Cash Flow

#(Fig in Cr.) Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 1 1 1 0 0
Cash Flow from Operating Activities 0 -1 4 1 -15
Cash Flow from Investing Activities -0 -0 -0 -2 -3
Cash Flow from Financing Activities 0 2 -4 1 18
Net Cash Inflow / Outflow -0 0 -1 0 1
Closing Cash & Cash Equivalent 1 1 0 0 1

Bulkcorp Internl Ratios

# Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 1.17 3.18 2.23 6.33 4.69
CEPS(Rs) 2.1 4.17 3.31 7.47 5.8
DPS(Rs) 0 0 0 0 0
Book NAV/Share(Rs) 3.47 6.57 8.81 16.91 41.26
Core EBITDA Margin(%) 6.08 5.58 6.29 10.24 9.41
EBIT Margin(%) 5.68 6.07 6.04 11.8 9.51
Pre Tax Margin(%) 4.27 4.65 4.45 10.51 7.91
PAT Margin (%) 2.02 3.56 3.15 7.75 5.83
Cash Profit Margin (%) 3.63 4.68 4.67 9.16 7.22
ROA(%) 3.22 8.31 6.15 14 9.36
ROE(%) 33.75 63.3 29.03 49.52 17.45
ROCE(%) 21.29 28.2 20.5 41.13 21.46
Receivable days 61.29 49.11 64.79 66.81 75.41
Inventory Days 66.46 41.83 48.13 60.8 71.63
Payable days 187.17 100.43 99.74 122.35 78.58
PER(x) 0 0 0 0 11.84
Price/Book(x) 0 0 0 0 1.35
Dividend Yield(%) 0 0 0 0 0
EV/Net Sales(x) 0.24 0.2 0.19 0.26 0.79
EV/Core EBITDA(x) 3.28 2.85 2.48 1.98 7.26
Net Sales Growth(%) 0 54.29 -20.55 17.4 33.7
EBIT Growth(%) 0 64.86 -20.91 129.31 7.74
PAT Growth(%) 0 171.62 -29.75 188.88 0.56
EPS Growth(%) 0 171.62 -29.75 183.39 -25.92
Debt/Equity(x) 3.45 2.49 1.13 0.68 0.22
Current Ratio(x) 0.98 1.12 1.01 1.17 3.55
Quick Ratio(x) 0.57 0.73 0.6 0.68 2.12
Interest Cover(x) 4.04 4.29 3.81 9.15 5.95
Total Debt/Mcap(x) 0 0 0 0 0.16

Bulkcorp Internl Shareholding Pattern

# Sep 2024 Mar 2025 Sep 2025 Mar 2026
Promoter 72.26 72.26 72.26 72.26
FII 0.96 0 0 0
DII 6.88 8.92 8.92 8.92
Public 19.9 18.81 18.81 18.81
Others 0 0 0 0
Total 100 100 100 100

Bulkcorp Internl News

Bulkcorp Internl Pros & Cons

Pros

  • Stock is trading at 0.9 times its book value
  • Company has a good return on equity (ROE) track record: 3 Years ROE 32%
  • Debtor days have improved from 122.35 to 78.58days.
  • Company is almost debt free.

Cons

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