Business Support · Founded 1970 · www.splindia.co.in · BSE 503816 · · ISIN INE243N01029
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Business
Swadeshi Polytex Ltd. (SWAD.POLYTEX) operates in the Business Support sector in India. While its name "Polytex" might suggest a historical involvement in textile or polymer manufacturing, its current classification indicates a primary focus on providing various support services to businesses. In the Indian context, companies categorized under Business Support often include entities involved in facility management, human resources services, IT support, consulting, back-office operations, or even acting as holding/investment companies managing diverse assets for corporate entities. The company likely generates revenue through fees for its services or returns on its investment/asset portfolio, depending on its specific operational focus within the broad "Business Support" mandate.
Revenue Mix
Specific breakdowns of key business segments or detailed revenue mix are not publicly available based on the provided information. Given its sector, it could derive revenue from a range of services such as corporate advisory, asset management, or other ancillary business services. Without further disclosure, it is difficult to ascertain the exact contribution of various activities to its overall revenue.
Industry
The Business Support industry in India is diverse and highly competitive, ranging from highly specialized consultancies to large-scale BPO/KPO operations and facility management services. It includes both organized and unorganized players. Given the broad nature of "Business Support" and the company's historical name, Swadeshi Polytex Ltd. likely operates in a specific niche or may be a legacy company that has transitioned its operations. Its positioning relative to peers would depend on its specific service offerings, client base, and operational scale, details of which are not specified. Many such companies may have a long-standing presence and potentially derive value from existing relationships or asset bases.
MOAT
Without specific details on its current operations, it's challenging to identify clear, durable competitive advantages. Potential moats in the Business Support sector can include:
Switching Costs: Deep, long-term relationships with clients making it difficult for them to switch providers.
Specialized Expertise: Niche knowledge or specialized service offerings not easily replicated.
Operational Efficiency: Ability to deliver services at a lower cost or higher quality than competitors.
Brand/Reputation: A strong reputation in specific service areas can attract and retain clients.
Given the limited information, it is uncertain if Swadeshi Polytex possesses strong, identifiable moats in the current competitive landscape. It may rely on its legacy, existing asset base, or specific client relationships.
Growth Drivers
Key factors that could drive growth for a Business Support company in India over the next 3-5 years include:
Increasing Outsourcing Trend: Businesses continuing to outsource non-core functions to focus on their primary activities.
Digital Transformation: Growing demand for support services related to technology adoption, data management, and cybersecurity.
Economic Growth: A growing economy generally leads to an increase in new businesses and expansion of existing ones, thus higher demand for support services.
Diversification: Successful expansion into new, high-demand service lines or geographic markets.
Asset Monetization/Investment Performance: If the company holds significant assets or investments, their performance and strategic monetization can drive growth.
Risks
Intense Competition: The Business Support sector is highly fragmented and competitive, leading to pricing pressure and margin erosion.
Economic Downturn: A slowdown in the economy can reduce corporate spending on support services, impacting demand.
Technological Disruption: Rapid advancements in technology (e.g., AI, automation) could render some traditional support services obsolete or require significant investment in new capabilities.
Client Concentration: Dependence on a few large clients could pose a significant risk if one terminates its contract.
Regulatory Changes: Changes in labor laws, data privacy regulations, or other business-related policies could impact operational costs and compliance requirements.
Execution Risk: Challenges in adapting to evolving market needs, managing operational efficiency, or attracting and retaining skilled talent.
Management & Ownership
Swadeshi Polytex Ltd. is typically overseen by a Board of Directors and an executive management team responsible for strategic direction and day-to-day operations. Like many Indian listed companies, it likely has a promoter group holding a significant stake, influencing strategic decisions. Details regarding specific individuals, their track records, or the exact ownership split between promoters, institutional investors, and the public are not available in the provided information.
Outlook
Swadeshi Polytex Ltd. operates in a dynamic Business Support sector, which offers potential tailwinds from India's economic growth and increasing corporate outsourcing trends. The company's future trajectory will likely depend on its specific service offerings, ability to adapt to technological changes, and skill in navigating a competitive landscape. While a long-standing presence could imply established relationships or an existing asset base, the lack of detailed operational information makes it challenging to ascertain its competitive standing and growth potential clearly. Investors would need to evaluate its current business activities, financial health, and strategic direction to form a comprehensive view.
| #(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 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Total Income | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Total Expenditure | 2 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 |
| Operating Profit | 0 | 1 | 1 | 1 | -0 | 1 | 2 | 1 | 1 | 1 |
| 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 | 1 | 1 | 1 | -0 | 1 | 2 | 1 | 1 | 1 |
| Provision for Tax | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 0 | 1 | 1 | 1 | -1 | 1 | 1 | 1 | 1 | 1 |
| Adjustments | -0 | -0 | 0 | -0 | 0 | -0 | -0 | -0 | 0 | 0 |
| Profit After Adjustments | 0 | 1 | 1 | 1 | -1 | 1 | 1 | 1 | 1 | 1 |
| Adjusted Earnings Per Share | 0.1 | 0.2 | 0.2 | 0.3 | -0.1 | 0.2 | 0.3 | 0.3 | 0.2 | 0.2 |
| #(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 | 3 | 13 | 16 | 0 | 36 | 44 | 99 | 0 | 0 | 0 |
| Other Income | 2 | 6 | 3 | 2 | 3 | 0 | 0 | 2 | 7 | 7 | 8 | 8 |
| Total Income | 4 | 8 | 6 | 15 | 19 | 0 | 37 | 47 | 106 | 8 | 8 | 8 |
| Total Expenditure | 3 | 2 | 2 | 3 | 4 | 2 | 3 | 4 | 7 | 4 | 3 | 4 |
| Operating Profit | 1 | 5 | 4 | 12 | 15 | -2 | 34 | 43 | 99 | 4 | 5 | 5 |
| Interest | 3 | 3 | 4 | 3 | 1 | 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 | -2 | 2 | 0 | 9 | 14 | -2 | 34 | 43 | 99 | 3 | 5 | 5 |
| Provision for Tax | 5 | 1 | 0 | 1 | 2 | -0 | 8 | 8 | 17 | 1 | 1 | 0 |
| Profit After Tax | -7 | 1 | -0 | 8 | 12 | -2 | 25 | 35 | 82 | 2 | 4 | 4 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | -0 | 0 | -0 | -0 | 0 | 0 | 0 |
| Profit After Adjustments | -7 | 1 | -0 | 8 | 12 | -2 | 26 | 35 | 82 | 2 | 4 | 4 |
| Adjusted Earnings Per Share | -1.8 | 0.3 | -0.1 | 2 | 3 | -0.4 | 6.5 | 8.9 | 21.2 | 0.6 | 1.1 | 1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | -100% | 0% | -100% |
| Operating Profit CAGR | 25% | -51% | 0% | 17% |
| PAT CAGR | 100% | -51% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -49% | -14% | 47% | 32% |
| ROE Average | 4% | 43% | 103% | 47% |
| ROCE Average | 4% | 51% | 127% | 58% |
| #(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 | -53 | -52 | -52 | -44 | -32 | -34 | -8 | 26 | 109 | 111 | 115 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | -2 | -2 | -1 | -2 | -2 | -3 | 1 | 2 | 2 | 2 | 3 |
| Total Current Liabilities | 65 | 62 | 63 | 55 | 47 | 47 | 40 | 37 | 18 | 2 | 0 |
| Total Liabilities | 10 | 9 | 10 | 9 | 13 | 10 | 33 | 65 | 129 | 115 | 118 |
| Fixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 5 | 0 |
| Other Non-Current Assets | 1 | 1 | 1 | 0 | 3 | 1 | 0 | 12 | 7 | 1 | 17 |
| Total Current Assets | 9 | 8 | 9 | 9 | 10 | 9 | 32 | 53 | 117 | 110 | 101 |
| Total Assets | 10 | 9 | 10 | 9 | 13 | 10 | 33 | 65 | 129 | 115 | 118 |
| #(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 | 1 | 2 | 1 | 1 | 1 | 3 | 1 | 3 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | 0 | -3 | -1 | 19 | 17 | -2 | 26 | 32 | 44 | -7 | -6 |
| Cash Flow from Investing Activities | 2 | 6 | 3 | 0 | 0 | 0 | -22 | -34 | -44 | 7 | 6 |
| Cash Flow from Financing Activities | -2 | -3 | -1 | -20 | -16 | 0 | -2 | 0 | 0 | 0 | 0 |
| Net Cash Inflow / Outflow | 1 | -1 | 1 | -0 | 2 | -2 | 2 | -3 | 0 | -0 | 0 |
| Closing Cash & Cash Equivalent | 2 | 1 | 1 | 1 | 3 | 1 | 3 | 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) | -1.76 | 0.29 | -0.09 | 2.05 | 3.04 | -0.42 | 6.53 | 8.94 | 21.15 | 0.58 | 1.07 |
| CEPS(Rs) | -1.75 | 0.29 | -0.08 | 2.05 | 3.04 | -0.41 | 6.53 | 8.95 | 21.17 | 0.63 | 1.09 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | -13.58 | -13.29 | -13.38 | -11.33 | -8.29 | -8.71 | -2.17 | 6.77 | 27.88 | 28.47 | 29.54 |
| Core EBITDA Margin(%) | -42.6 | -11.65 | 29.72 | 78.27 | 77.24 | 0 | 92.06 | 92 | 93.13 | -895.58 | 0 |
| EBIT Margin(%) | 80.75 | 265.7 | 109.82 | 93.67 | 93.86 | 0 | 93.32 | 97.52 | 99.8 | 865.7 | 0 |
| Pre Tax Margin(%) | -99.75 | 102.74 | 4.23 | 71.94 | 89.48 | 0 | 93.32 | 97.52 | 99.8 | 865.7 | 0 |
| PAT Margin (%) | -389.09 | 55.69 | -9.78 | 60.72 | 74.12 | 0 | 70.26 | 78.65 | 83.11 | 568.98 | 0 |
| Cash Profit Margin (%) | -388.47 | 56.21 | -9.52 | 60.78 | 74.19 | 0 | 70.3 | 78.69 | 83.16 | 609.6 | 0 |
| ROA(%) | -71.66 | 12.1 | -3.65 | 86.1 | 109.24 | -14.28 | 118.31 | 71.12 | 85.12 | 1.86 | 3.57 |
| ROE(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 388.7 | 122.08 | 2.07 | 3.69 |
| ROCE(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 481.95 | 146.6 | 3.15 | 4.47 |
| Receivable days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 105.85 | 0 |
| Inventory Days | 1386.44 | 1234.67 | 727.2 | 185.25 | 143.15 | 0 | 55.46 | 36.15 | 8.13 | 1948.51 | 0 |
| Payable days | -417.26 | -1479.75 | 2032.72 | 1069.26 | 587.65 | 0 | 270.72 | 227.35 | 116.58 | -92.81 | -99.2 |
| PER(x) | 0 | 4.91 | 0 | 1.27 | 2.13 | 0 | 0.69 | 4.08 | 6.83 | 80.76 | 25.96 |
| Price/Book(x) | 0 | -0.11 | -0.12 | -0.23 | -0.78 | -0.67 | -2.08 | 5.39 | 5.18 | 1.66 | 0.94 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 15.68 | 14.84 | 8.8 | 1.92 | 1.5 | 0 | -0.22 | 2.16 | 4.68 | 298.85 | 4098.74 |
| EV/Core EBITDA(x) | 19.27 | 5.57 | 7.99 | 2.04 | 1.6 | -11.95 | -0.23 | 2.21 | 4.69 | 32.97 | 11 |
| Net Sales Growth(%) | -75.81 | 15.53 | 69.7 | 281.3 | 21.51 | -100 | 0 | 22.38 | 123.88 | -99.6 | -96.55 |
| EBIT Growth(%) | -78.29 | 280.12 | -29.86 | 225.23 | 21.76 | -113.29 | 1795.66 | 27.9 | 129.1 | -96.5 | 46.14 |
| PAT Growth(%) | -775.06 | 116.54 | -129.81 | 2466.23 | 48.33 | -113.71 | 1666.28 | 37.01 | 136.55 | -97.24 | 83.47 |
| EPS Growth(%) | -775.05 | 116.54 | -129.81 | 2466.22 | 48.33 | -113.72 | 1666.16 | 37.01 | 136.55 | -97.24 | 83.46 |
| Debt/Equity(x) | -0.48 | -0.49 | -0.49 | -0.37 | -0.06 | -0.05 | 0 | 0 | 0 | 0 | 0 |
| Current Ratio(x) | 0.14 | 0.13 | 0.14 | 0.16 | 0.2 | 0.2 | 0.81 | 1.45 | 6.58 | 53.72 | 208.45 |
| Quick Ratio(x) | 0.03 | 0.02 | 0.03 | 0.04 | 0.08 | 0.07 | 0.68 | 1.34 | 6.54 | 51.94 | 197.36 |
| Interest Cover(x) | 0.45 | 1.63 | 1.04 | 4.31 | 21.42 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Debt/Mcap(x) | 0 | 4.57 | 4 | 1.6 | 0.07 | 0.08 | 0 | 0 | 0 | 0 | 0 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 68.08 | 68.08 | 68.08 | 68.08 | 70 | 72.05 | 72.05 | 72.05 | 72.05 | 72.05 |
| FII | 0 | 0 | 0 | 0 | 0.41 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 |
| Public | 31.85 | 31.85 | 31.85 | 31.85 | 29.51 | 27.88 | 27.88 | 27.88 | 27.88 | 27.88 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 2.66 | 2.66 | 2.66 | 2.66 | 2.73 | 2.81 | 2.81 | 2.81 | 2.81 | 2.81 |
| FII | 0 | 0 | 0 | 0 | 0.02 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.24 | 1.24 | 1.24 | 1.24 | 1.15 | 1.09 | 1.09 | 1.09 | 1.09 | 1.09 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | — | -100% | — | -100% |
| Operating Profit CAGR | +25% | -51% | — | +17% |
| PAT CAGR | +100% | -51% | — | — |
| Share Price CAGR | -49% | -14% | +47% | +32% |
| ROE Average | +4% | +43% | +103% | +47% |
| ROCE Average | +4% | +51% | +127% | +58% |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 68.08 | 68.08 | 68.08 | 68.08 | 70 | 72.05 | 72.05 | 72.05 | 72.05 | 72.05 |
| FII | 0 | 0 | 0 | 0 | 0.41 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 |
| Public | 31.85 | 31.85 | 31.85 | 31.85 | 29.51 | 27.88 | 27.88 | 27.88 | 27.88 | 27.88 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 2.66 | 2.66 | 2.66 | 2.66 | 2.73 | 2.81 | 2.81 | 2.81 | 2.81 | 2.81 |
| FII | 0 | 0 | 0 | 0 | 0.02 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.24 | 1.24 | 1.24 | 1.24 | 1.15 | 1.09 | 1.09 | 1.09 | 1.09 | 1.09 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 | 3.9 |
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