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Polychem Ltd (POLYCHEM)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 506605 NSE: POLYCHEM Chemicals | Small Cap | Polychem Share Price

₹1,918.90 -1.00 (-0.05%)

As on 04-Jun'26 16:59

Polychem Ltd (POLYCHEM)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 506605 NSE: POLYCHEM Chemicals | Small Cap | Polychem Share Price

₹1,918.90 -1.00 (-0.05%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹78 Cr.
Current Price
₹1,918.9
52-Week Low / High
₹1,811 / 2,986
TTM EPS
₹251
TTM Sales
₹26 Cr.
Book Value per Share
₹1,071.2
P/E Ratio
7.65
Lower than its 5-year historical median
Industry PE
50.2
Price to Book (P/B)
1.79
Lower than its 5-year historical median
Price to Sales (P/S)
2.99
Higher than its 5-year historical median
EV/EBITDA
5.43
Lower than its 5-year historical median
Dividend Yield
1.08%
Profitability Efficiency
Return on Equity (ROE)
10.23%
In line with industry median
Return on Capital Employed (ROCE)
12.28%
Underperforms industry median
Return on Assets (ROA)
9.37%
Operating Profit Margin
7.3%
Net Profit Margin
14.14%
Gross Profit Margin
20%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-35.42%
Operating Profit Growth (1 Year)
-
-76.23%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-44.21%
Asset Quality
Promoter Holding
52.09%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹43 Cr.
Equity
₹0.4 Cr.
Face Value
₹10
All Time Low / High
₹0.80 / 3725.05

Polychem stock performance

Key Ratios
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M-Cap below 100cr DeciZen not available

Q.1 Is Polychem Ltd a good quality company?
Polychem Ltd is a quality company, based on a multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Polychem Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Polychem Ltd vs industry peers?
Polychem Ltd revenue CAGR is 0.69%, compared to the industry median CAGR of 7.53%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Polychem Ltd?
Promoters hold 52.09% of the Polychem Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Polychem Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 18.3% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Polychem Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 3.4%3.7%-0.6%4%16.5%1.7%14.8%19%26.7%12.3%-
Value Creation
Index
-0.8-0.7-1.0-0.70.2-0.90.10.40.9-0.1-

Growth Parameters

Sales 12.614.416.318.92310.920.435.236.923.826
Sales YoY Gr.-13.9%13.1%16.2%21.7%-52.5%86.7%72.5%4.7%-35.4%-
Adj EPS 715.1-6.39.651.47.224.691.9149.454.3251
YoY Gr.-115.5%-141.6%NA434.4%-85.9%240.1%273.7%62.6%-63.6%-
BVPS (₹) 407.8434.1427.2443.8499.3494.7573.6661.2789.2840.91,071.2
Adj Net
Profit
0.30.6-0.30.42.10.313.762.210
Cash Flow from Ops. 0.4-0.1-0.9-12.80.8-2.34.542.2-
Debt/CF from Ops. 0000000000-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 7.3%0.7%5.3%-35.4%
Adj EPS 25.5%1.1%30.2%-63.6%
BVPS8.4%11%13.6%6.6%
Share Price 18.2% 27.3% 17.2% -1.6%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
1.73.6-1.52.210.91.54.614.920.66.726.3
Op. Profit
Mgn %
-1.5-4.5-4.6012.6-4-113.619.97.315.9
Net Profit
Mgn %
2.24.3-1.62.192.74.910.516.49.238.7
Debt to
Equity
00000000000
Working Cap
Days
2902592511931292261409810215977
Cash Conv.
Cycle
978283878216199686811362

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales12.6314.3916.2718.9123.0110.9420.4235.2236.8723.81
Operating Expenses + 12.9315.0417.0218.9120.1111.3720.6330.4229.5522.08
Manufacturing Costs1.912.362.532.723.271.712.854.744.994.01
Material Costs78.6810.3411.6311.765.2311.4918.3118.2911.72
Employee Cost 1.962.032.182.552.902.823.043.593.893.87
Other Costs 2.061.961.982.022.181.623.253.782.382.48
Operating Profit -0.30-0.64-0.7502.90-0.44-0.214.807.321.74
Operating Profit Margin (%) -2.4%-4.5%-4.6%0.0%12.6%-4.0%-1.0%13.6%19.9%7.3%
Other Income + 1.081.460.840.880.751.303.870.501.323.12
Exceptional Items 0000000000
Interest 000.0100.030.070.050.140.110.10
Depreciation 0.230.180.190.180.510.510.470.550.820.81
Profit Before Tax 0.550.64-0.100.703.110.283.134.607.713.94
Tax 0.12-0.190.0300.70-0.01-0.100.881.670.57
Profit After Tax 0.420.83-0.140.702.410.293.233.726.043.37
PAT Margin (%) 3.3%5.8%-0.9%3.7%10.5%2.7%15.8%10.6%16.4%14.1%
Adjusted EPS (₹)10.420.5-3.417.259.67.280.092.1149.483.4
Dividend Payout Ratio (%)24%12.20%0%14.50%21%0%3.80%21.70%20.10%24%

Valuation of Polychem - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 16.4717.5417.2617.9320.1719.9923.1726.7131.8933.97
Share Capital 0.400.400.400.400.400.400.400.400.400.40
Reserves 16.0717.1316.8517.5319.7719.5822.7726.3131.4833.57
Debt +0000000000
Long Term Debt0000000000
Short Term Debt0000000000
Minority Interest0000000000
Trade Payables0.730.951.320.930.820.761.541.310.590.49
Others Liabilities 0.340.480.390.821.821.321.781.952.522.44
Total Liabilities 17.5418.9718.9719.6822.8222.0726.4929.9734.9936.90

Fixed Assets

Net Fixed Assets +0.540.420.540.971.421.140.751.982.482
Gross Block1.480.600.911.502.472.702.764.485.796.10
Accumulated Depreciation0.950.180.370.531.041.562.012.503.314.10
CWIP 0000000000
Investments 3.334.054.238.599.2811.3014.8816.4918.0922.94
Inventories2.312.162.202.332.262.092.364.464.544.92
Trade Receivables2.362.383.243.684.072.836.143.233.982.44
Cash Equivalents 2.542.782.861.454.573.601.172.272.962.71
Others Assets 6.457.195.902.661.211.111.201.532.941.89
Total Assets 17.5418.9718.9719.6822.8222.0726.4929.9734.9936.90

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 0.41-0.13-0.85-0.952.810.75-2.314.493.972.19
PBT 0.550.64-0.100.703.110.283.134.607.713.94
Adjustment -0.68-0.84-0.57-0.69-0.08-0.66-3.260.23-0.31-2.11
Changes in Working Capital 0.77-0.47-0.16-1.030.381.02-2.190.74-1.941.27
Tax Paid -0.230.55-0.020.08-0.600.120.01-1.08-1.49-0.91
Cash Flow From Investing Activity + 0.240.271.350.43-0.740.80-0.44-3.03-2.41-0.58
Capex -0.12-0.06-0.31-0.61-0.16-0.23-0.08-1.77-0.32-0.33
Net Investments 0-0.010.49-3.03-1.560.80-0.41-1.31-2.09-0.46
Others 0.370.331.174.070.990.230.050.0500.21
Cash Flow From Financing Activity + -0.10-0.10-0.11-0-0.34-0.76-0.24-0.37-1.09-1.49
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid 0000000000
Dividend Paid -0.10-0.10-0.11-0-0.10-0.550-0.12-0.83-1.21
Others 0000-0.24-0.21-0.24-0.25-0.26-0.28
Net Cash Flow 0.550.040.38-0.511.730.80-2.991.080.460.12

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)2.584.88-0.83.9612.651.4614.9814.9220.610.23
ROCE (%)3.363.74-0.563.9816.481.7414.7719.0226.6712.28
Asset Turnover Ratio0.820.880.880.981.080.490.841.251.140.66
PAT to CFO Conversion(x)0.98-0.16N/A-1.361.172.59-0.721.210.660.65
Working Capital Days
Receivable Days58.9053.7061.3066.8061.50115.1080.1048.6035.7049.20
Inventory Days57.1050.6047.5043.6036.4072.6039.8035.4044.6072.50
Payable Days32.5035.3040.2035.4027.2055.4036.6028.4018.9016.70

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Polychem Ltd FAQs

The current trading price of Polychem on 04-Jun-2026 16:59 is ₹1,918.9.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of Polychem stood at ₹77.53 Cr

The latest P/E ratio of Polychem as of 03-Jun-2026 is 7.65.

The latest P/B ratio of Polychem as of 03-Jun-2026 is 1.79.

The 52-week high of Polychem is ₹2,986 and the 52-week low is ₹1,811.1.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Polychem is ₹25.96 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Polychem Ltd is a average quality company.

The key valuation ratios of Polychem Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Polychem Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Polychem Ltd

Polychem established in 1956, is pioneer in production of styrene, polystyrene, vinyl acetate and polyvinyl alcohol in India. Polychem established its first thermoplastics plant in the country in 1957.

The operational facility of the company is located at D/26, MIDC Phase –II, Sagaon, Dombivli -421201.

The company’s polymer division specialises in manufacturing of polymers and co-polymers from styrene, divinyl benzene, acrylic acid and acrylates through either suspension polymerization route or emulsion polymerization route.

It operates a multipurpose plant for the manufacturing its products.

The company has capacity to manufacture tailor made resins to suit customer requirements in quantities as small as 50 kg and as large as a container loads. It also has a capacity to develop polymers & co-polymers to suit the requirement of the customers.

Product range

  • Cross Linked Polystyrene (XLPS)
  • Low Molecular weight Polystyrene (LMPS)
  • Styrene Ethyl Acrylate Co-Polymer (Acrylate-C)
  • Polyvinyl Butyral
  • Styrene Malaic Anhydride Co-polymer (SMA Co-polymer)
  • Styrene Butyl Acrylate Co-polymer (SBA PC - 50)
  • Styrene Butyl Acrylate Co-polymer (SBA PC - 30)
  • Poly Alpha Methyl Styrene (PAMS PC - 290)

The company has customer base in countries such as UK, USA and Japan.

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