Plastic Products · Founded 1994 · www.innocorpltd.com · BSE 531929 · · ISIN INE214B01017
No Notes Added Yet
Business
Innocorp Ltd. operates in the Plastic Products sector in India. Its core business involves the manufacturing and potential distribution of various plastic goods. The company likely sources raw plastic materials (polymers, resins) and processes them into finished or semi-finished products using techniques such as injection molding, blow molding, extrusion, or thermoforming. Innocorp makes money by selling these plastic products to a diverse customer base, which could include other businesses (B2B) for packaging, industrial components, automotive parts, or directly to consumers (B2C) for household items, consumer durables, or agricultural applications.
Revenue Mix
Specific key segments and their revenue contributions are not available from the provided information. However, based on the broad "Plastic Products" industry, Innocorp's revenue could potentially be diversified across segments such as:
Packaging: Films, bottles, containers, pouches for food & beverage, pharmaceuticals, consumer goods.
Consumer Goods: Household items, toys, furniture.
Industrial/Automotive Components: Parts for various manufacturing sectors.
Agriculture: Pipes, films for farming.
Construction: Pipes, fittings, insulation materials.
Without further data, the exact mix remains unknown.
Industry
The Plastic Products industry in India is characterized by its vastness, significant growth potential, and often a fragmented competitive landscape. It is highly dependent on demand from various end-user industries (FMCG, automotive, construction, agriculture). Raw material prices, primarily derived from crude oil, are a major cost component and source of volatility. Without specific details on Innocorp's scale, product specialization, or market share, its precise positioning against peers (e.g., as a mass producer, a niche player, a quality leader, or a cost leader) cannot be determined.
MOAT
Based solely on the provided information, a distinct competitive advantage or "moat" for Innocorp Ltd. is not explicitly evident. In the plastic products industry, potential moats could include:
Scale and Cost Efficiency: Large-scale operations leading to lower per-unit costs.
Strong Customer Relationships/Switching Costs: Deep integration with key B2B customers making it costly to switch suppliers.
Proprietary Technology/Specialization: Unique manufacturing processes or specialized product capabilities.
Brand Recognition: For consumer-facing products.
Operational Excellence: Superior supply chain management and manufacturing efficiency.
Without further information, it's speculative to attribute any specific moat to Innocorp.
Growth Drivers
Key factors that could drive growth for Innocorp Ltd. over the next 3-5 years include:
Economic Growth & Rising Disposable Incomes in India: Fuels demand for consumer goods, packaged products, and industrial output.
Increasing Demand for Packaging: Growth in e-commerce, organized retail, and the food processing industry drives demand for various plastic packaging solutions.
Urbanization and Infrastructure Development: Leads to demand for plastic products in construction, plumbing, and utilities.
Diversification into New Product Applications: Identifying and entering new market segments or developing innovative plastic solutions.
Government Initiatives: Support for manufacturing (e.g., "Make in India") could benefit local producers.
Risks
Innocorp Ltd. faces several business risks common to the plastic products sector:
Raw Material Price Volatility: Fluctuations in crude oil prices directly impact the cost of polymer resins, affecting profitability.
Regulatory Environment: Increasing scrutiny and potential bans/restrictions on single-use plastics or specific plastic types could disrupt demand and require significant operational adjustments and investments in sustainable alternatives.
Intense Competition: The industry is competitive, potentially leading to pricing pressures and margin erosion.
Environmental Concerns & Public Perception: Growing public and governmental pressure regarding plastic waste and pollution could impact market acceptance and introduce compliance costs.
Technological obsolescence: Need to continuously invest in new machinery and processes to stay competitive.
Management & Ownership
Specific details about Innocorp Ltd.'s promoters, management quality, or ownership structure are not provided. In India, many companies, particularly in manufacturing sectors, are promoter-led, meaning the founding family or individuals often hold significant ownership and management control. A strong and experienced management team is crucial for navigating the complexities of the industry.
Outlook
The outlook for Innocorp Ltd. presents a balanced picture.
Bull Case: The inherent growth drivers of the Indian economy, particularly increasing consumption, urbanization, and the expanding need for packaging and industrial components, provide a strong demand environment for plastic products. A company with efficient operations, a diversified product portfolio, or specialized capabilities could capitalize on this robust underlying growth.
Bear Case: The sector is susceptible to significant headwinds, primarily raw material price volatility and the evolving regulatory landscape surrounding plastics. Increasing environmental concerns could lead to stricter policies, potential bans, and a shift towards alternative materials, necessitating substantial R&D and capital expenditure for companies to adapt. Intense competition also poses a constant threat to margins.
A comprehensive assessment would require more specific company data, including financial performance, product diversification, market positioning, and management strategy regarding sustainability and innovation.
| #(Fig in Cr.) | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Expenditure | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Profit | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Provision for Tax | -0 | -0 | -0 | 0 | 0 | 0 | -0 | 0 | -0 | 0 |
| Profit After Tax | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Adjusted Earnings Per Share | -0 | -0.1 | -0.1 | -0 | -0.3 | -0.1 | -0.1 | -0.1 | -0 | -0 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 2 | 2 | 1 | 1 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
| Other Income | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 7 | 0 | 0 | 0 | 0 |
| Total Income | 2 | 2 | 3 | 2 | 1 | 1 | 1 | 7 | 0 | 0 | 0 | 0 |
| Total Expenditure | 2 | 2 | 2 | 2 | 1 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Operating Profit | -0 | -0 | 1 | -0 | -1 | 0 | 0 | 5 | -0 | -0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -1 | -1 | -0 | -1 | -1 | 0 | -0 | 5 | -0 | -0 | 0 | 0 |
| Provision for Tax | 0 | 2 | 0 | -0 | -0 | -1 | 0 | 2 | -0 | 0 | 0 | 0 |
| Profit After Tax | -1 | -3 | -1 | -1 | -1 | 1 | -0 | 4 | -0 | -0 | -0 | 0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -1 | -3 | -1 | -1 | -1 | 1 | -0 | 4 | -0 | -0 | -0 | 0 |
| Adjusted Earnings Per Share | -1.5 | -3.3 | -0.9 | -1.2 | -1.4 | 0.7 | -0.2 | 4.9 | -0.3 | -0.5 | -0.1 | -0.2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | 0% | 0% | -100% |
| Operating Profit CAGR | 0% | -100% | 0% | 0% |
| PAT CAGR | 0% | -100% | -100% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 37% | 9% | 19% | 15% |
| ROE Average | -2% | -9% | 70% | -9% |
| ROCE Average | 0% | -6% | 42% | 13% |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 4 | 2 | 1 | -0 | -1 | -1 | -1 | 3 | 3 | 2 | 2 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | -3 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 |
| Total Current Liabilities | 4 | 4 | 3 | 4 | 3 | 3 | 3 | 2 | 1 | 1 | 5 |
| Total Liabilities | 6 | 5 | 4 | 4 | 2 | 2 | 2 | 4 | 3 | 2 | 6 |
| Fixed Assets | 5 | 4 | 3 | 3 | 1 | 1 | 1 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 4 | 2 | 2 | 6 |
| Total Assets | 6 | 5 | 4 | 4 | 2 | 2 | 2 | 4 | 3 | 2 | 6 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | 1 | 1 | -0 | -0 | 0 | 0 | 0 | -1 | 0 | -0 | -4 |
| Cash Flow from Investing Activities | -0 | -0 | 2 | -0 | 1 | 0 | -0 | 7 | 0 | 0 | 0 |
| Cash Flow from Financing Activities | -1 | -0 | -2 | 0 | -1 | -0 | 0 | -6 | 0 | 0 | 4 |
| Net Cash Inflow / Outflow | -0 | 1 | -0 | 0 | 0 | 0 | -0 | 0 | 0 | -0 | 0 |
| Closing Cash & Cash Equivalent | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -1.53 | -3.3 | -0.86 | -1.24 | -1.42 | 0.68 | -0.22 | 4.85 | -0.33 | -0.47 | -0.05 |
| CEPS(Rs) | -0.96 | -2.69 | -0.3 | -0.72 | -1.08 | 0.9 | 0.02 | 5.01 | -0.27 | -0.43 | -0.01 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 5.24 | 1.94 | 1.08 | -0.17 | -1.59 | -0.91 | -1.13 | 3.72 | 3.39 | 2.92 | 2.86 |
| Core EBITDA Margin(%) | -24 | -10.62 | -69.68 | -34.64 | -104.95 | 39.03 | 24.57 | -860.04 | 0 | 0 | 17.69 |
| EBIT Margin(%) | -40.63 | -29.64 | 11.04 | -53.05 | -146.74 | 44.23 | -10.5 | 3611.22 | 0 | 0 | 1.04 |
| Pre Tax Margin(%) | -64.22 | -47.87 | -15.35 | -68.51 | -189.15 | 6.49 | -33.08 | 3609.34 | 0 | 0 | 0.75 |
| PAT Margin (%) | -64.22 | -121.32 | -56 | -68.38 | -174.64 | 111.68 | -33.7 | 2588.31 | 0 | 0 | -19.72 |
| Cash Profit Margin (%) | -40.43 | -98.93 | -19.22 | -39.45 | -132.09 | 148.54 | 2.47 | 2669.38 | 0 | 0 | -3.06 |
| ROA(%) | -18.31 | -46.47 | -14.27 | -23.71 | -39.21 | 29.16 | -9.74 | 140.95 | -8.27 | -15.8 | -0.99 |
| ROE(%) | -25.49 | -92.01 | -57.18 | -274.33 | 0 | 0 | 0 | 375.6 | -9.25 | -15.03 | -1.83 |
| ROCE(%) | -8.95 | -9.19 | 2.89 | -21.46 | -40.23 | 14.2 | -3.22 | 232.57 | -9.42 | -9.73 | 0.05 |
| Receivable days | 75.76 | 37.11 | 67.55 | 58.73 | 70.26 | 131.36 | 172.55 | 327.86 | 0 | 0 | 0 |
| Inventory Days | 130.55 | 94.69 | 127.46 | 83.17 | 89.25 | 19.63 | 18.22 | 0 | 0 | 0 | 0 |
| Payable days | 294.82 | 88.42 | 211.76 | 157.26 | 274.89 | 0 | 0 | 1536.81 | 0 | 0 | 0 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 1.52 | 0 | 1.44 | 0 | 0 | 0 |
| Price/Book(x) | 0.48 | 1.53 | 0 | 0 | 0 | -1.13 | -5.79 | 1.88 | 1.47 | 1.78 | 1.75 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 3.46 | 2.98 | 8.84 | 7.96 | 16.2 | 6.71 | 15 | 37.23 | 0 | 0 | 36.72 |
| EV/Core EBITDA(x) | -19.25 | -41.15 | 18.48 | -32.99 | -15.54 | 8.28 | 58.43 | 1.01 | -17.1 | -19.74 | 207.5 |
| Net Sales Growth(%) | -84.56 | 21.73 | -43.46 | 18.29 | -55.2 | -25.52 | 7.63 | -71.31 | -100 | 0 | 0 |
| EBIT Growth(%) | 82.93 | 16.71 | 121.06 | -668.51 | -23.9 | 122.45 | -125.55 | 9966.24 | -104.94 | 8.35 | 100.9 |
| PAT Growth(%) | 56.18 | -115.73 | 73.9 | -44.45 | -14.41 | 147.63 | -132.48 | 2303.54 | -106.77 | -44.16 | 88.87 |
| EPS Growth(%) | 56.18 | -115.73 | 73.9 | -44.45 | -14.41 | 147.63 | -132.47 | 2303.91 | -106.78 | -44.16 | 88.86 |
| Debt/Equity(x) | 1 | 2.66 | 3.35 | -26.61 | -2.02 | -3.36 | -2.85 | 0 | 0 | 0 | 1.68 |
| Current Ratio(x) | 0.25 | 0.23 | 0.24 | 0.17 | 0.09 | 0.12 | 0.11 | 2.2 | 3.98 | 3.8 | 1.36 |
| Quick Ratio(x) | 0.1 | 0.1 | 0.14 | 0.1 | 0.08 | 0.12 | 0.1 | 2.2 | 3.98 | 3.8 | 1.36 |
| Interest Cover(x) | -1.72 | -1.63 | 0.42 | -3.43 | -3.46 | 1.17 | -0.47 | 1920.39 | -664.5 | -2436 | 3.67 |
| Total Debt/Mcap(x) | 2.07 | 1.73 | 0 | 0 | 0 | 2.98 | 0.49 | 0 | 0 | 0 | 0.96 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 29.67 | 29.67 | 29.67 | 29.67 | 29.67 | 29.67 | 29.67 | 29.67 | 29.67 | 29.67 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 70.32 | 70.32 | 70.32 | 70.32 | 70.32 | 70.32 | 70.32 | 70.32 | 70.32 | 70.32 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.56 | 0.56 | 0.56 | 0.56 | 0.56 | 0.56 | 0.56 | 0.56 | 0.56 | 0.56 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | — | — | — | -100% |
| Operating Profit CAGR | — | -100% | — | — |
| PAT CAGR | — | -100% | -100% | — |
| Share Price CAGR | +37% | +9% | +19% | +15% |
| ROE Average | -2% | -9% | +70% | -9% |
| ROCE Average | 0% | -6% | +42% | +13% |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 29.67 | 29.67 | 29.67 | 29.67 | 29.67 | 29.67 | 29.67 | 29.67 | 29.67 | 29.67 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 70.32 | 70.32 | 70.32 | 70.32 | 70.32 | 70.32 | 70.32 | 70.32 | 70.32 | 70.32 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.56 | 0.56 | 0.56 | 0.56 | 0.56 | 0.56 | 0.56 | 0.56 | 0.56 | 0.56 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 |
* The pros and cons are machine generated.
Our experts help you choose the right stocks based on performance, risk, and growth potential.
Looking to buy unlisted shares or need guidance on the investment process? Our expert Private Equity Advisors are here to assist you with accurate information, real-time pricing, and seamless execution.
Want to sell unlisted shares, liquidate your ESOPs, or understand the step-by-step process of liquidation? Connect with our Buying Team for smooth coordination, quick evaluations, and end-to-end support.
Planning to build or grow your portfolio? For Mutual Fund investments, PMS solutions, tailored portfolio creation, and overall wealth management, our dedicated Wealth Team is ready to guide you.
Your relationship manager will connect with you shortly.