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Pithampur Poly Overview

1. Business Overview

Pithampur Poly Products Ltd. operates in the plastic products manufacturing sector in India. Its core business likely involves the production and sale of various plastic goods. This could include, but is not limited to, plastic packaging (rigid or flexible), industrial plastic components, household plastic items, agricultural pipes, automotive plastics, or construction-related plastic products. The company primarily generates revenue by manufacturing these products and selling them to B2B customers (e.g., other manufacturers, retailers, distributors) or potentially directly to consumers, depending on its product portfolio. Its business model relies on procuring raw materials (primarily polymers derived from crude oil), processing them through various manufacturing techniques (like injection molding, blow molding, extrusion, thermoforming), and distributing finished goods.

2. Key Segments / Revenue Mix

Specific key segments and their revenue contribution for Pithampur Poly Products Ltd. are not available from the provided information. In a typical plastic products company, segments might include packaging solutions, consumer goods, industrial components, or specialized products for specific sectors like automotive, agriculture, or construction. The revenue mix would depend heavily on the company's product specialization and customer base.

3. Industry & Positioning

The plastic products industry in India is generally fragmented, characterized by a mix of large integrated players and numerous small to medium-sized enterprises. It is highly dependent on the availability and pricing of raw materials (polymers), which are often linked to global crude oil prices. The industry is also subject to evolving environmental regulations concerning plastic waste and single-use plastics. Without specific data, Pithampur Poly Products Ltd. likely operates either as a generalist manufacturer serving various industries or as a niche player specializing in certain types of plastic products or specific customer segments within the broader Indian market. Its positioning relative to peers would depend on its production scale, technological capabilities, customer relationships, cost efficiency, and product differentiation.

4. Competitive Advantage (Moat)

Strong competitive advantages are often challenging to build and sustain in the largely commoditized plastic products sector. Potential moats for Pithampur Poly Products Ltd. could include:

Cost Leadership: Achieving economies of scale or efficient manufacturing processes to produce at lower costs than competitors.

Customer Relationships & Switching Costs: Long-standing relationships with key industrial clients that value reliability, quality, and timely delivery, making it costly or inconvenient for them to switch suppliers.

Product Specialization/Niche: Expertise in manufacturing complex or specialized plastic components for specific industries, which might require proprietary designs or manufacturing know-how.

Geographic Proximity: Strategic location near major customers or raw material sources, offering logistical advantages.

However, without specific details, it is difficult to ascertain if the company possesses any significant, durable competitive advantages.

5. Growth Drivers

Key factors that could drive growth for Pithampur Poly Products Ltd. over the next 3-5 years include:

Economic Growth & Urbanization: Increasing disposable incomes, rising consumption, and rapid urbanization in India drive demand for packaged goods, household items, and infrastructure, all of which use plastic products.

Growth in End-Use Industries: Expansion of sectors like FMCG, automotive, healthcare, construction, and agriculture, which are major consumers of plastic components and packaging.

Shift from Traditional Materials: Continued substitution of traditional materials (metal, glass, wood) with plastics due to their cost-effectiveness, lightweight nature, and versatility.

Innovation & Product Development: Introduction of new and improved plastic products, especially those addressing sustainability concerns (e.g., recyclable, biodegradable plastics), could open new market opportunities.

6. Risks

Pithampur Poly Products Ltd. faces several key business risks:

Raw Material Price Volatility: Significant fluctuations in crude oil prices directly impact polymer prices, affecting manufacturing costs and profit margins.

Environmental Regulations: Increasing government scrutiny and stricter regulations on plastic usage, waste management, and single-use plastics pose a challenge and could necessitate significant operational changes or product redesigns.

Intense Competition: The fragmented nature of the industry leads to price wars and pressure on margins, especially for commodity products.

Substitution Risk: Development of alternative sustainable materials or technological advancements could lead to substitution of plastic products in certain applications.

Demand Fluctuations: Economic downturns or slowdowns in key end-user industries can directly impact demand for plastic products.

Technological Obsolescence: Failure to invest in modern manufacturing technologies can lead to inefficiencies and loss of competitiveness.

7. Management & Ownership

Specific details regarding the promoters, management quality, and ownership structure of Pithampur Poly Products Ltd. are not available from the provided information. Typically, companies of this size in India are promoter-led, with family ownership playing a significant role. The quality of management would depend on their experience in the plastics industry, strategic vision, operational efficiency, and adherence to corporate governance standards.

8. Outlook

Pithampur Poly Products Ltd. operates in a sector with inherent growth potential driven by India's robust economic expansion, increasing consumption, and urbanization. The demand for plastic products across various end-use industries (packaging, automotive, construction, household goods) is expected to remain strong. However, the company faces significant challenges, notably volatile raw material prices, intense competition, and a rapidly evolving regulatory landscape concerning environmental sustainability and plastic waste. Success will likely depend on its ability to manage input costs effectively, innovate its product portfolio (potentially towards more sustainable or specialized solutions), maintain strong customer relationships, and adapt to changing environmental policies while ensuring operational efficiency.

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Pithampur Poly Key Financials

Market Cap ₹5 Cr.

Stock P/E -3.7

P/B -0.7

Current Price ₹11.5

Book Value ₹ -17.6

Face Value 10

52W High ₹11.5

Dividend Yield 0%

52W Low ₹ 10.9

Pithampur Poly Share Price

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Volume
Price

Pithampur Poly Quarterly Price

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Pithampur Poly Peer Comparison

Pithampur Poly Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
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 1 0 0 0
Operating Profit 0 -0 0 0 -0 0 -1 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 -1 0 -0 -0
Provision for Tax 0 -0 2 -0 -0 -0 -0 -0 -0 -0
Profit After Tax 0 -0 -2 -0 0 -0 -1 0 -0 -0
Adjustments -0 0 0 0 0 -0 0 -0 0 0
Profit After Adjustments 0 -0 -2 -0 0 -0 -1 0 -0 -0
Adjusted Earnings Per Share 0.6 -0.1 -3.9 -0.1 0.2 -0 -2.8 0 -0 -0

Pithampur Poly Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 6 7 8 7 8 1 0 1 1 1 1 0
Other Income 0 0 0 0 0 0 3 0 0 0 0 0
Total Income 6 7 8 7 8 1 3 1 1 1 1 0
Total Expenditure 6 7 8 9 11 3 2 1 0 0 1 1
Operating Profit -0 0 0 -1 -3 -2 1 -0 0 1 -1 -1
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 1 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 1 0 0 0 0 0 -0 0 0 0 0 0
Profit Before Tax -0 -0 -1 -2 -3 -2 0 -1 -0 -0 -1 -1
Provision for Tax 0 -0 -0 -0 -1 -0 0 0 -0 2 -0 0
Profit After Tax -0 -0 -0 -1 -3 -1 0 -1 -0 -2 -1 -1
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments -0 -0 -0 -1 -3 -1 0 -1 -0 -2 -1 -1
Adjusted Earnings Per Share -0.5 -0.4 -1 -3 -5.4 -2.8 0.3 -1.6 -0.1 -3.5 -2.7 -2.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 0% 0% 0% -16%
Operating Profit CAGR -200% 0% 0% 0%
PAT CAGR 0% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -5% 3% -1% -2%
ROE Average 0% 0% 0% 0%
ROCE Average 0% 0% 20% -0%

Pithampur Poly Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds -1 -2 -2 -4 -6 -7 -3 -4 -4 -5 -7
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 6 6 0 0 0 0 0 0 0 6 6
Other Non-Current Liabilities 0 -0 -0 -1 -1 -2 -2 -1 -2 0 0
Total Current Liabilities 9 9 14 15 15 14 8 9 9 5 5
Total Liabilities 13 13 12 11 8 5 4 4 4 6 4
Fixed Assets 3 3 2 2 1 1 1 1 1 1 1
Other Non-Current Assets 0 0 0 0 3 0 0 0 0 0 0
Total Current Assets 10 10 10 9 4 4 3 3 3 5 3
Total Assets 13 13 12 11 8 5 4 4 4 6 4

Pithampur Poly Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 0 0 0 0 0 0 0 0 0 0 0
Cash Flow from Operating Activities -0 0 0 0 3 -3 -2 0 1 -0 -0
Cash Flow from Investing Activities 0 0 -0 0 -3 3 3 0 0 0 0
Cash Flow from Financing Activities -0 0 0 -0 -0 -0 -0 -0 -0 -0 -0
Net Cash Inflow / Outflow 0 0 -0 0 -0 -0 0 -0 0 -0 0
Closing Cash & Cash Equivalent 0 0 0 0 0 0 0 0 0 0 0

Pithampur Poly Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -0.49 -0.39 -0.96 -3 -5.42 -2.75 0.25 -1.57 -0.06 -3.49 -2.71
CEPS(Rs) 0.84 0.94 0.41 -1.65 -5.11 -2.45 0.54 -1.28 0.22 -3.23 -2.47
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) -3.65 -4.04 -5.33 -8.33 -13.74 -16.5 -7.04 -8.61 -8.67 -11.37 -14.09
Core EBITDA Margin(%) -1.95 3.38 0.03 -14.81 -37.55 -164.07 0 -22.52 43.82 55.25 -191.34
EBIT Margin(%) -4.03 -5.02 -7.38 -23.15 -39.22 -177.13 0 -43.39 46.87 64.43 -175.28
Pre Tax Margin(%) -4.08 -5.09 -7.71 -23.21 -39.39 -177.38 0 -95.68 -10.84 -1.18 -273.58
PAT Margin (%) -4.08 -2.59 -5.44 -19.26 -32.6 -131.04 0 -118.61 -3.69 -258.76 -254.13
Cash Profit Margin (%) 7.01 6.23 2.31 -10.58 -30.76 -116.52 0 -96.97 14.47 -239.65 -231.77
ROA(%) -1.81 -1.48 -3.66 -12.23 -26.62 -19.14 2.51 -18.48 -0.65 -32.86 -26.56
ROE(%) 0 0 0 0 0 0 0 0 0 0 0
ROCE(%) -1.94 -3.17 -5.51 -16.81 -37.77 -33.84 99.04 0 0 0 0
Receivable days 379.18 289.95 274.06 235.32 77.29 287.38 0 312.92 693.62 1661.75 2410.44
Inventory Days 27.22 27.07 30.36 110.21 106.37 276.14 0 100.14 79.55 88.89 103.43
Payable days 0 0 0 -106.46 47.23 701.06 33.24 379.95 46.58 127.25 38.44
PER(x) 0 0 0 0 0 0 0 0 0 0 0
Price/Book(x) -4.68 0 0 -1.55 0 0 0 -1.11 0 0 -1.16
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 3.68 2.43 2.13 2.58 2.25 15.78 0 7.87 6.7 16.14 27.06
EV/Core EBITDA(x) -238.36 63.92 587.94 -17.84 -6.02 -9.7 5 -36.16 10.31 19.32 -17.7
Net Sales Growth(%) -13.91 26.12 14.33 -11.4 6.64 -87.35 -100 0 15.01 -11.52 -20.85
EBIT Growth(%) -615.11 -57.07 -68.17 -177.93 -80.67 42.9 126.89 -157.4 224.25 21.62 -315.33
PAT Growth(%) -492.72 19.88 -139.77 -213.84 -80.52 49.17 109.21 -719.2 96.42 -6096.64 22.26
EPS Growth(%) -492.72 19.88 -145.32 -213.84 -80.52 49.17 109.21 -719.24 96.41 -6092.54 22.26
Debt/Equity(x) -9.29 -8.19 -6.05 -3.64 -2.12 -1.47 -0.13 -0.11 -0.11 -1.03 -0.89
Current Ratio(x) 1.07 1.11 0.68 0.62 0.24 0.28 0.34 0.3 0.36 0.89 0.72
Quick Ratio(x) 1.02 1.04 0.63 0.39 0.19 0.23 0.32 0.29 0.34 0.86 0.69
Interest Cover(x) -77.62 -70.1 -22.2 -384.89 -233.4 -711.61 1.51 -0.83 0.81 0.98 -1.78
Total Debt/Mcap(x) 1.84 0 0 2.45 0 0 0 0.1 0 0 0.88

Pithampur Poly Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 51.16 51.16 51.16 51.16 51.16 51.16 51.16 51.16 51.16 51.16
FII 0 0 0 0 0 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 48.84 48.84 48.84 48.84 48.84 48.84 48.84 48.84 48.84 48.84
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pithampur Poly News

Pithampur Poly Pros & Cons

Pros

  • Stock is trading at -0.7 times its book value
  • Debtor days have improved from 127.25 to 38.44days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 0% over the last 3 years.
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