Plastiblends India

₹259.7 3.6 | 1.4%

WEBSITE BSE:523648 NSE : PLASTIBLEND 10 May, 16:01

Market Cap ₹675 Cr.

Stock P/E 19.5

P/B 1.7

Current Price ₹259.7

Book Value ₹ 156

Face Value 5

52W High ₹357.2

Dividend Yield 1.64%

52W Low ₹ 165.5

Edit Ratio

Plastiblends India Research see more...

Overview Inc. Year: 1991Industry: Chemicals

Plastiblends India Ltd manufactures and sells colour and additive masterbatches, and thermoplastic compounds for the plastic processing industry in India. The company’s products include white, black, colour, additive, filler, and PET masterbatches, as well as conductive compounds and engineering polymers. It serves the agriculture, appliance, car and transportation, healthcare and pharma, packaging, textiles, and wire and cable markets, as well as electrical, electronics, and telecommunication markets. The enterprise also exports its products to approximately forty international locations. Plastiblends India Ltd became integrated in 1991 and is founded in Mumbai, India.

Plastiblends India Share Price

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Peer Comparison

Plastiblends India Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	174	219	204	180	186	198	196	210	197	199
Other Income	1	2	3	2	2	-1	1	3	2	2
Total Income	175	221	207	183	188	197	197	213	199	201
Total Expenditure	154	201	188	172	178	180	183	196	186	183
Operating Profit	21	20	18	10	10	16	14	17	13	18
Interest	1	1	1	0	1	0	0	0	0	0
Depreciation	4	4	4	4	4	4	4	4	4	4
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	17	15	14	6	5	12	10	13	9	14
Provision for Tax	4	3	4	2	1	3	3	3	2	3
Profit After Tax	12	12	10	4	4	9	8	10	7	11
Adjustments	0	-0	-0	0	0	0	0	0	-0	0
Profit After Adjustments	12	12	10	4	4	9	8	10	7	11
Adjusted Earnings Per Share	4.6	4.8	3.8	1.6	1.5	3.3	2.9	3.7	2.5	4.1

Plastiblends India Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	409	466	494	520	545	568	627	606	577	718	769	802
Other Income	2	3	2	2	2	2	1	3	4	6	7	8
Total Income	411	469	496	522	547	570	628	609	581	724	775	810
Total Expenditure	378	419	444	461	482	513	567	538	509	655	720	748
Operating Profit	33	51	53	62	65	57	61	71	72	68	55	62
Interest	6	6	4	4	8	8	8	2	3	3	2	0
Depreciation	4	4	6	6	11	12	12	17	16	16	16	16
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	23	41	43	52	46	38	42	52	53	49	36	46
Provision for Tax	8	13	13	14	14	11	10	14	16	12	10	11
Profit After Tax	15	27	30	38	33	27	31	37	37	37	27	36
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	15	27	30	38	33	27	31	37	37	37	27	36
Adjusted Earnings Per Share	5.9	10.5	11.6	14.5	12.6	10.5	12	14.3	14.4	14.1	10.3	13.2

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	7%	8%	6%	7%
Operating Profit CAGR	-19%	-8%	-1%	5%
PAT CAGR	-27%	-10%	0%	6%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	50%	2%	7%	17%
ROE Average	7%	10%	11%	15%
ROCE Average	10%	13%	14%	18%

Plastiblends India Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	117	137	158	184	224	248	269	281	330	381	395
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	14	6	0	34	41	25	17	9	0	0	0
Other Non-Current Liabilities	19	21	23	31	30	32	32	32	31	44	35
Total Current Liabilities	87	84	77	112	104	136	96	87	91	92	54
Total Liabilities	236	248	258	361	399	441	414	409	453	518	484
Fixed Assets	65	64	73	151	169	176	173	178	177	187	179
Other Non-Current Assets	5	6	10	8	14	15	11	12	30	52	46
Total Current Assets	166	178	174	202	215	251	229	219	246	279	260
Total Assets	236	248	258	361	399	441	414	409	453	518	484

Plastiblends India Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	1	1	4	3	1	1	2	1	1	2	1
Cash Flow from Operating Activities	4	37	37	71	25	15	59	74	48	15	72
Cash Flow from Investing Activities	-7	-3	-19	-80	-25	-17	-8	-20	-27	-5	-26
Cash Flow from Financing Activities	3	-32	-18	9	-0	3	-51	-55	-19	-12	-45
Net Cash Inflow / Outflow	-0	2	-1	-0	-0	0	-1	-1	1	-1	1
Closing Cash & Cash Equivalent	1	4	3	3	1	2	1	1	2	1	2

Plastiblends India Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	5.91	10.48	11.56	14.49	12.58	10.51	11.99	14.3	14.37	14.12	10.33
CEPS(Rs)	7.48	12.14	13.96	16.89	16.71	14.99	16.51	20.86	20.48	20.31	16.66
DPS(Rs)	3.5	5	5.5	7	2.5	2.5	2.75	3.75	4	4	4
Book NAV/Share(Rs)	44.94	52.61	60.64	70.9	86.02	95.42	103.39	108.08	127.02	146.78	151.99
Core EBITDA Margin(%)	7.18	9.46	9.58	10.56	10.67	9.46	9.62	11.13	11.76	8.6	6.25
EBIT Margin(%)	6.59	9.29	8.76	9.88	9.19	7.86	7.94	8.83	9.65	7.19	4.98
Pre Tax Margin(%)	5.27	8.13	8.08	9.24	7.84	6.55	6.64	8.51	9.13	6.77	4.7
PAT Margin (%)	3.51	5.46	5.67	6.71	5.52	4.71	4.97	6.14	6.41	5.07	3.46
Cash Profit Margin (%)	4.45	6.32	6.85	7.83	7.33	6.72	6.85	8.95	9.14	7.29	5.58
ROA(%)	7.04	11.25	11.89	12.18	8.61	6.5	7.29	9.04	8.67	7.56	5.36
ROE(%)	13.75	21.49	20.42	22.04	16.04	11.59	12.06	13.53	12.22	10.31	6.92
ROCE(%)	17.44	27.11	26.85	24.93	18.73	13.66	14.22	15.83	16.26	13.4	9.53
Receivable days	62.09	63.57	62.25	65.23	67.12	72.59	73.68	70.32	61.01	53.69	49.52
Inventory Days	48.22	42.68	35.12	32.98	39.32	53.02	51.83	53.91	69.74	65.53	60.6
Payable days	24.77	31.36	31.74	39.94	39.96	33.21	21.74	15.33	21.04	16.84	16.1
PER(x)	5.83	5.85	9.65	13.53	18.67	19.09	16.66	8.06	15.92	13.94	14.71
Price/Book(x)	0.77	1.17	1.84	2.77	2.73	2.1	1.93	1.07	1.8	1.34	1
Dividend Yield(%)	5.08	4.08	2.47	1.78	0.53	1.25	1.38	3.25	1.75	2.03	2.63
EV/Net Sales(x)	0.36	0.4	0.62	1.13	1.28	1.1	0.95	0.57	1.08	0.76	0.51
EV/Core EBITDA(x)	4.43	3.69	5.84	9.56	10.74	10.9	9.68	4.91	8.65	7.97	7.13
Net Sales Growth(%)	19.9	13.9	6.12	5.16	4.89	4.14	10.4	-3.35	-4.71	24.3	7.09
EBIT Growth(%)	1.26	60.97	0.09	19.39	-1.75	-16.23	9.06	7.53	5.08	-7.35	-25.87
PAT Growth(%)	-8.06	77.28	10.33	25.36	-13.18	-16.48	14.1	19.28	0.46	-1.74	-26.83
EPS Growth(%)	-8.06	77.28	10.33	25.36	-13.18	-16.48	14.1	19.28	0.46	-1.73	-26.83
Debt/Equity(x)	0.49	0.23	0.13	0.45	0.41	0.42	0.29	0.17	0.1	0.09	0
Current Ratio(x)	1.92	2.1	2.26	1.8	2.07	1.84	2.4	2.52	2.69	3.02	4.81
Quick Ratio(x)	1.23	1.42	1.69	1.29	1.39	1.12	1.55	1.38	1.34	1.55	2.56
Interest Cover(x)	4.99	8.01	12.88	15.62	6.82	5.99	6.11	27.36	18.63	16.81	18.24
Total Debt/Mcap(x)	0.64	0.19	0.07	0.16	0.15	0.2	0.15	0.16	0.05	0.07	0

Plastiblends India Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	64.27	63.77	63.9	63.82	63.6	63.37	63.37	64.21	64.38	64.38
FII	1.33	1.35	1.31	1.32	0.76	0.75	0.75	0.76	0.82	0.84
DII	0.22	0.22	0.22	0.22	0.22	0.22	0.22	0.22	0	0
Public	34.18	34.66	34.57	34.64	35.42	35.66	35.66	34.81	34.79	34.78
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	1.67	1.66	1.66	1.66	1.65	1.65	1.65	1.67	1.67	1.67
FII	0.03	0.04	0.03	0.03	0.02	0.02	0.02	0.02	0.02	0.02
DII	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0	0
Public	0.89	0.9	0.9	0.9	0.92	0.93	0.93	0.9	0.9	0.9
Others	0	0	0	0	0	0	0	0	0	0
Total	2.6	2.6	2.6	2.6	2.6	2.6	2.6	2.6	2.6	2.6

Pros

Debtor days have improved from 16.84 to 16.1days.
Company is almost debt free.

Cons

Company has a low return on equity of 10% over the last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.