WEBSITE BSE:507779 NSE: KANPUR PLAST Inc. Year: 1971 Industry: Plastic Products My Bucket: Add Stock
Last updated: 15:40
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1. Business Overview
Kanpur Plastipack Ltd. is an Indian company operating in the Plastic Products sector. Its core business involves the manufacturing and sale of various plastic products. Given the "Plastipack" in its name, it likely specializes in packaging solutions, which could include flexible packaging (e.g., films, pouches), rigid packaging (e.g., containers, bottles), or industrial packaging (e.g., woven sacks, bulk bags). The company primarily makes money by producing and supplying these plastic products to a diverse customer base across various industries, such as FMCG, agriculture, chemicals, and industrial goods.
2. Key Segments / Revenue Mix
Specific segment breakdowns are not provided. However, a company in the plastic products industry typically caters to segments such as:
Flexible Packaging: Films, laminates, pouches for food, personal care, and industrial use.
Rigid Packaging: Bottles, jars, containers, caps, and closures for various applications.
Industrial Packaging: Woven sacks, FIBC (Flexible Intermediate Bulk Containers), tarpaulins, used for bulk material handling in sectors like cement, fertilizers, and food grains.
Other Plastic Products: Could include components, pipes, or consumer plastic goods.
Without detailed information, the exact contribution of each segment remains undisclosed.
3. Industry & Positioning
The Indian plastic products industry is large and diverse, characterized by a mix of large organized players and numerous unorganized manufacturers. It is highly dependent on raw material prices (primarily crude oil derivatives) and end-user industry demand. The industry is also increasingly subject to environmental regulations regarding plastic waste and single-use plastics. Kanpur Plastipack likely operates as one of the many players in this competitive landscape, potentially serving specific regional markets or niche product categories. Its positioning against larger, more diversified players would depend on factors like cost efficiency, product specialization, customer relationships, and technological capabilities.
4. Competitive Advantage (Moat)
For a company of its likely scale in the plastic products sector, a strong and wide competitive advantage (moat) might be limited. Potential moats could include:
Cost Leadership: Achieving superior operational efficiency and economies of scale in specific product lines.
Customer Relationships: Long-standing partnerships and customization capabilities for key industrial clients.
Niche Specialization: Expertise in particular types of plastic products or applications that are harder for generalists to replicate.
Location Advantage: Proximity to raw material suppliers or key customer clusters, reducing logistics costs.
A strong brand moat is less common in B2B plastic product manufacturing, and significant switching costs for customers might only exist if products are highly specialized or integrated into customer processes.
5. Growth Drivers
Key factors that can drive growth for Kanpur Plastipack over the next 3-5 years include:
Economic Growth: Overall GDP growth in India, leading to increased industrial output and consumer spending.
Rising Consumption: Growth in FMCG, food & beverages, e-commerce, and organized retail, all requiring packaging.
Infrastructure Development: Demand for construction-related plastic products (pipes, sheets, etc.) and industrial packaging.
Innovation & Diversification: Introduction of new, sustainable, or specialized plastic products meeting evolving industry needs.
Export Opportunities: Tapping into global demand for cost-effective plastic solutions.
6. Risks
Raw Material Price Volatility: Plastic resins are crude oil derivatives; fluctuations in crude oil prices can significantly impact production costs and margins.
Environmental Regulations: Increasing governmental and public pressure to reduce plastic waste, ban single-use plastics, and mandate recycling could affect demand for certain products and require significant investment in R&D for sustainable alternatives.
Intense Competition: The fragmented nature of the industry can lead to price wars and margin pressures.
Economic Downturns: A slowdown in end-user industries (e.g., automotive, construction, FMCG) can reduce demand for plastic products.
Technological Obsolescence: Failure to adopt new manufacturing technologies or produce advanced materials could lead to a loss of competitiveness.
7. Management & Ownership
Specific details regarding the promoters, key management personnel, or ownership structure are not provided. However, many Indian manufacturing companies, especially those of this nature, are typically promoter-driven with significant family ownership and control, often relying on long-standing operational experience. The quality of management would depend on their ability to navigate industry cycles, manage raw material costs, innovate, and adapt to changing regulatory environments.
8. Outlook
Kanpur Plastipack Ltd. operates in a dynamic sector with inherent growth potential driven by India's economic development and consumption patterns. The increasing demand from various end-user industries for packaging and other plastic products provides a fundamental tailwind. However, the company faces significant challenges, primarily from the volatility of raw material prices and the evolving regulatory landscape surrounding plastic use and waste management. Its ability to innovate, manage costs effectively, and adapt to sustainable practices will be crucial for sustained success. The company's future performance will depend on its capacity to differentiate itself in a competitive market and mitigate sector-specific risks while capitalizing on demand growth.
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Market Cap ₹479 Cr.
Stock P/E 43.1
P/B 1.8
Current Price ₹195.6
Book Value ₹ 109.7
Face Value 10
52W High ₹249.5
Dividend Yield 0.61%
52W Low ₹ 156.1
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 124 | 153 | 132 | 152 | 161 | 168 | 179 | 165 | 192 | 180 |
| Other Income | 2 | 5 | 4 | 2 | 3 | 5 | 3 | 1 | 5 | 5 |
| Total Income | 126 | 158 | 136 | 154 | 164 | 173 | 183 | 167 | 197 | 185 |
| Total Expenditure | 127 | 145 | 129 | 142 | 146 | 151 | 167 | 150 | 178 | 159 |
| Operating Profit | -1 | 14 | 7 | 12 | 18 | 21 | 16 | 17 | 19 | 26 |
| Interest | 4 | 6 | 5 | 5 | 5 | 4 | 3 | 3 | 2 | 3 |
| Depreciation | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -8 | 4 | -2 | 2 | 10 | 14 | 10 | 11 | 14 | 20 |
| Provision for Tax | -1 | 0 | -0 | 1 | 2 | 2 | 2 | 3 | 3 | 5 |
| Profit After Tax | -7 | 3 | -1 | 2 | 8 | 12 | 7 | 8 | 11 | 15 |
| Adjustments | 0 | 0 | -0 | -0 | 0 | -9 | -1 | -0 | 0 | 0 |
| Profit After Adjustments | -7 | 3 | -1 | 2 | 8 | 3 | 6 | 8 | 11 | 15 |
| Adjusted Earnings Per Share | -3.1 | 1.5 | -0.6 | 0.8 | 3.5 | 1.3 | 2.6 | 3.3 | 4.5 | 6.1 |
| #(Fig in Cr.) | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Net Sales | 315 | 452 | 625 | 477 | 497 | 629 | 716 |
| Other Income | 8 | 8 | 13 | 4 | 11 | 15 | 14 |
| Total Income | 323 | 459 | 638 | 481 | 509 | 643 | 732 |
| Total Expenditure | 297 | 397 | 576 | 455 | 478 | 584 | 654 |
| Operating Profit | 26 | 62 | 62 | 26 | 31 | 59 | 78 |
| Interest | 11 | 9 | 14 | 12 | 17 | 21 | 11 |
| Depreciation | 9 | 9 | 11 | 11 | 13 | 14 | 12 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | -12 | 0 |
| Profit Before Tax | 6 | 44 | 37 | 2 | 2 | 13 | 55 |
| Provision for Tax | 1 | 14 | 11 | -1 | 1 | 2 | 13 |
| Profit After Tax | 5 | 30 | 26 | 4 | 1 | 11 | 41 |
| Adjustments | 0 | -1 | -1 | 0 | 0 | 0 | -1 |
| Profit After Adjustments | 5 | 30 | 26 | 4 | 1 | 11 | 40 |
| Adjusted Earnings Per Share | 2.3 | 13.9 | 11.9 | 1.7 | 0.5 | 5 | 16.5 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 27% | 0% | 15% | 0% |
| Operating Profit CAGR | 90% | -2% | 18% | 0% |
| PAT CAGR | 1000% | -25% | 17% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -8% | 30% | 10% | 12% |
| ROE Average | 6% | 3% | 9% | 8% |
| ROCE Average | 9% | 6% | 10% | 10% |
| #(Fig in Cr.) | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Shareholder's Funds | 129 | 157 | 179 | 180 | 180 | 206 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 55 | 58 | 68 | 73 | 84 | 18 |
| Other Non-Current Liabilities | 15 | 21 | 26 | 31 | 36 | 40 |
| Total Current Liabilities | 67 | 140 | 146 | 123 | 176 | 170 |
| Total Liabilities | 266 | 376 | 420 | 407 | 476 | 488 |
| Fixed Assets | 164 | 185 | 214 | 208 | 278 | 208 |
| Other Non-Current Assets | 4 | 14 | 17 | 49 | 8 | 8 |
| Total Current Assets | 98 | 177 | 190 | 149 | 190 | 222 |
| Total Assets | 266 | 376 | 420 | 407 | 476 | 488 |
| #(Fig in Cr.) | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 4 | 0 | 1 | 2 |
| Cash Flow from Operating Activities | 41 | -4 | 29 | 66 | -5 | 37 |
| Cash Flow from Investing Activities | -1 | -34 | -38 | -38 | -40 | -4 |
| Cash Flow from Financing Activities | -40 | 41 | 6 | -26 | 45 | -27 |
| Net Cash Inflow / Outflow | -0 | 4 | -3 | 1 | 0 | 6 |
| Closing Cash & Cash Equivalent | 0 | 4 | 0 | 1 | 2 | 8 |
| # | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 2.3 | 13.86 | 11.9 | 1.68 | 0.48 | 4.98 |
| CEPS(Rs) | 6.43 | 18.4 | 17.14 | 6.93 | 6.36 | 11.27 |
| DPS(Rs) | 0.6 | 1.8 | 2.2 | 0.5 | 0 | 0.9 |
| Book NAV/Share(Rs) | 59.88 | 73.34 | 83.38 | 83.86 | 83.84 | 90.29 |
| Core EBITDA Margin(%) | 5.49 | 11.79 | 7.54 | 4.27 | 3.82 | 6.75 |
| EBIT Margin(%) | 5.17 | 11.44 | 7.86 | 2.9 | 3.55 | 5.05 |
| Pre Tax Margin(%) | 1.94 | 9.47 | 5.69 | 0.43 | 0.3 | 1.91 |
| PAT Margin (%) | 1.51 | 6.51 | 4.02 | 0.73 | 0.16 | 1.67 |
| Cash Profit Margin (%) | 4.24 | 8.48 | 5.65 | 3 | 2.65 | 3.8 |
| ROA(%) | 1.85 | 9.43 | 6.58 | 0.87 | 0.18 | 2.3 |
| ROE(%) | 3.84 | 21.2 | 15.57 | 2.01 | 0.45 | 5.8 |
| ROCE(%) | 7.15 | 19.32 | 15.12 | 4.06 | 4.89 | 8.92 |
| Receivable days | 45.39 | 37.63 | 32.66 | 40.46 | 43.97 | 45.32 |
| Inventory Days | 53.75 | 59 | 61.54 | 73.74 | 64.14 | 56.08 |
| Payable days | 10.9 | 16.31 | 15.41 | 18.11 | 19.6 | 16.93 |
| PER(x) | 13.43 | 6.96 | 10.22 | 48.86 | 186.32 | 22.15 |
| Price/Book(x) | 0.52 | 1.31 | 1.46 | 0.98 | 1.07 | 1.22 |
| Dividend Yield(%) | 1.3 | 1.24 | 1.81 | 0.61 | 0 | 0.82 |
| EV/Net Sales(x) | 0.55 | 0.8 | 0.71 | 0.71 | 0.83 | 0.61 |
| EV/Core EBITDA(x) | 6.69 | 5.77 | 7.13 | 13.19 | 13.28 | 6.45 |
| Net Sales Growth(%) | 0 | 43.51 | 38.4 | -23.75 | 4.37 | 26.38 |
| EBIT Growth(%) | 0 | 216.27 | -3.85 | -71.94 | 27.58 | 83.39 |
| PAT Growth(%) | 0 | 514.78 | -13.57 | -86.23 | -77.63 | 1276.12 |
| EPS Growth(%) | 0 | 503.07 | -14.14 | -85.88 | -71.24 | 930.35 |
| Debt/Equity(x) | 0.83 | 1.01 | 1.02 | 0.92 | 1.25 | 0.71 |
| Current Ratio(x) | 1.46 | 1.27 | 1.29 | 1.21 | 1.08 | 1.3 |
| Quick Ratio(x) | 0.74 | 0.53 | 0.49 | 0.53 | 0.52 | 0.68 |
| Interest Cover(x) | 1.6 | 5.81 | 3.62 | 1.18 | 1.09 | 1.61 |
| Total Debt/Mcap(x) | 1.62 | 0.77 | 0.7 | 0.94 | 1.16 | 0.58 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 66.74 | 66.74 | 66.74 | 66.74 | 66.74 | 66.74 | 67.26 | 67.63 | 67.63 | 68.12 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0.05 | 0.03 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.97 | 1.11 | 1.48 |
| Public | 33.26 | 33.26 | 33.26 | 33.26 | 33.26 | 33.26 | 32.69 | 31.37 | 31.26 | 30.4 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.43 | 1.43 | 1.43 | 1.43 | 1.43 | 1.43 | 1.51 | 1.57 | 1.57 | 1.64 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.02 | 0.03 | 0.04 |
| Public | 0.71 | 0.71 | 0.71 | 0.71 | 0.71 | 0.71 | 0.73 | 0.73 | 0.73 | 0.73 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 2.15 | 2.15 | 2.15 | 2.15 | 2.15 | 2.15 | 2.25 | 2.32 | 2.32 | 2.4 |
* The pros and cons are machine generated.
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