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Polychem Overview

Established in 1955 by Dr. N.A. Kalyani, Polychem Limited has a rich history in the chemical industry. Company specializes in producing a wide range of chemicals, including styrene, polystyrene, and specialty chemicals, catering to various industrial applications. Polychem's clientele includes manufacturers in the automotive, electronics, and packaging industries. Promoted by the Kalyani family, the company's mission is to deliver high-quality chemical products that meet the stringent requirements of its customers. Their vision is to be a leadi...Read More

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Polychem Key Financials

Market Cap ₹82 Cr.

Stock P/E 21.3

P/B 1.1

Current Price ₹2030

Book Value ₹ 1808.4

Face Value 10

52W High ₹2986

Dividend Yield 0.99%

52W Low ₹ 1811.1

Polychem Share Price

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Volume
Price

Polychem Quarterly Price

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Polychem Peer Comparison

Polychem 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 12 13 15 13 7 10 11 13 10 9
Other Income 0 0 1 1 1 0 1 3 0 29
Total Income 12 14 15 14 8 11 11 16 11 38
Total Expenditure 10 11 12 11 8 9 10 11 9 9
Operating Profit 2 3 3 3 0 2 2 6 1 29
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 2 2 3 2 -0 1 1 5 1 29
Provision for Tax 0 0 0 1 0 0 0 1 0 3
Profit After Tax 2 2 3 2 -0 1 1 5 1 25
Adjustments -0 -0 -0 -0 -0 -0 -0 -1 -0 -12
Profit After Adjustments 2 2 2 2 -0 1 1 3 1 14
Adjusted Earnings Per Share 37.4 43.1 58.1 37.5 -11.4 21.9 22.2 84 17.7 338.1

Polychem Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 13 27 31 42 37 25 36 51 54 42 43
Other Income 1 1 0 1 1 1 1 6 2 2 33
Total Income 14 28 31 42 38 26 37 57 56 44 76
Total Expenditure 13 27 30 36 33 24 35 45 45 38 39
Operating Profit 1 1 1 6 5 2 2 11 11 6 38
Interest 0 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 1 1 1 1 1 1 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 0 1 1 6 4 1 1 11 10 5 36
Provision for Tax 0 -0 0 0 1 -0 -0 1 1 1 4
Profit After Tax 0 1 1 6 4 1 1 10 8 4 32
Adjustments 0 0 -0 -2 -1 -0 -0 -2 -1 -1 -13
Profit After Adjustments 0 1 0 4 3 1 1 7 7 3 19
Adjusted Earnings Per Share 8.4 19.9 5.7 89.7 75.9 20.5 12.5 178.9 178.3 70.1 462

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -22% 5% 3% 0%
Operating Profit CAGR -45% 44% 4% 0%
PAT CAGR -50% 59% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 5% 30% 33% 18%
ROE Average 9% 20% 14% 12%
ROCE Average 12% 24% 16% 14%

Polychem Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 15 19 19 22 25 26 28 35 41 44
Minority's Interest 0 -3 -3 -1 -0 0 1 3 4 5
Borrowings 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities -0 0 0 0 1 0 0 1 1 1
Total Current Liabilities 1 6 7 6 7 7 4 5 4 3
Total Liabilities 16 21 22 28 32 33 33 43 51 54
Fixed Assets 1 2 2 3 4 3 3 4 4 4
Other Non-Current Assets 3 4 4 8 9 11 10 19 24 29
Total Current Assets 13 15 16 17 20 19 21 20 22 21
Total Assets 16 21 22 28 32 33 33 43 51 54

Polychem Cash Flow

#(Fig in Cr.) 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 1 1 2 1 3 4 1 2 4
Cash Flow from Operating Activities 0 0 0 4 6 1 -2 5 6 2
Cash Flow from Investing Activities 0 -0 0 -4 -4 1 -1 -4 -3 -1
Cash Flow from Financing Activities 0 -0 -0 -0 -0 -1 -0 -0 -1 -2
Net Cash Inflow / Outflow 0 -0 0 -1 2 1 -3 1 2 -0
Closing Cash & Cash Equivalent 0 1 2 1 3 4 1 2 4 4

Polychem Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 8.4 19.94 5.68 89.72 75.9 20.48 12.53 178.91 178.29 70.07
CEPS(Rs) 14.16 26.77 20.26 159.43 107.12 49.92 38.48 257.81 228.05 120.27
DPS(Rs) 2.5 2.5 0 2.5 12.5 0 3 20 30 20
Book NAV/Share(Rs) 377.36 460.12 462.4 551.05 622.22 631.71 690.81 863.62 1019.95 1099.12
Core EBITDA Margin(%) -2.09 -0.04 1.67 14.11 10.77 2.65 1.97 11.41 16.24 8.88
EBIT Margin(%) 3.27 2.23 1.82 14.74 11.9 5.47 2.34 20.86 17.99 11.84
Pre Tax Margin(%) 3.25 2.08 1.8 14.74 11.8 5.15 2.15 20.55 17.73 11.5
PAT Margin (%) 2.38 2.76 1.69 14.73 9.9 5.21 2.43 18.83 15.22 9.22
Cash Profit Margin (%) 4.01 3.8 2.62 15.5 11.81 8.19 4.34 20.33 17.1 11.66
ROA(%) 2.08 4.15 2.4 24.56 12.14 3.93 2.63 25.26 17.47 7.36
ROE(%) 2.23 4.64 2.83 29.9 15.3 5.07 3.26 30.73 21.54 8.98
ROCE(%) 3.06 3.76 3.04 29.92 18.4 5.32 3.13 34.04 25.47 11.52
Receivable days 60.5 49.62 73.94 69.46 80.89 110.67 86.78 62.7 53.88 66.82
Inventory Days 59.16 49.45 60.95 43.14 45.36 65.26 50.24 45.84 50.5 67.09
Payable days 37.86 27.35 38.41 25.17 19.61 35.09 27.28 19.2 17.88 15.25
PER(x) 46.73 20.54 62.15 3.49 3.6 25.59 46.2 5.16 13.55 26.48
Price/Book(x) 1.04 0.89 0.76 0.57 0.44 0.83 0.84 1.07 2.37 1.69
Dividend Yield(%) 0.64 0.61 0 0.8 4.58 0 0.52 2.17 1.24 1.08
EV/Net Sales(x) 1.05 0.51 0.36 0.26 0.12 0.6 0.54 0.66 1.72 1.69
EV/Core EBITDA(x) 19.04 14.51 12.92 1.7 0.85 7.09 12.74 2.96 8.64 11.83
Net Sales Growth(%) 0 111.33 15.18 35.08 -11.81 -32.78 45.3 43.2 5.12 -22.67
EBIT Growth(%) 0 36.15 -10.76 979.59 -28.81 -69.1 -37.94 1178.38 -9.34 -49.12
PAT Growth(%) 0 131.22 -32.9 1061.99 -40.75 -64.62 -32.1 1007.69 -15.06 -53.13
EPS Growth(%) 0 137.23 -71.53 1480.68 -15.4 -73.02 -38.81 1327.87 -0.35 -60.7
Debt/Equity(x) 0 0 0 0 0 0 0 0 0 0
Current Ratio(x) 10.68 2.41 2.41 2.86 3.01 2.85 4.63 4.34 5.17 6.53
Quick Ratio(x) 8.74 1.55 1.66 2.03 2.36 2.19 3.42 2.73 3.43 4.1
Interest Cover(x) 133.4 14.55 96.15 0 123.51 17.27 12.78 66.72 69.57 35.63
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0

Polychem Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 52.09 52.09 52.09 52.09 52.09 52.09 52.09 52.09 52.09 52.09
FII 0 0 0 0 0 0 0 0 0 0
DII 2.98 2.98 2.98 2.98 2.98 2.98 2.98 2.98 2.98 2.98
Public 44.93 44.93 44.93 44.93 44.93 44.93 44.93 44.93 44.93 44.93
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Polychem News

Polychem Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 20%
  • Debtor days have improved from 17.88 to 15.25days.
  • Company is almost debt free.

Cons

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