Plastiblends India Ltd - Stock Valuation and Financial Performance

BSE: 523648 | NSE: PLASTIBLEN | Chemicals | Small Cap

Plastiblends India Share Price

230 -2.55 -1.10%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Plastiblends India

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

Plastiblends India stock performance -

mw4me loader
P/E Ratio (SA):
18.47
Market Cap:
600 Cr.
52-wk low:
139
52-wk high:
357.2

Is Plastiblends India Ltd an attractive stock to invest in?

1. Is Plastiblends India Ltd a good quality company?

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

2. Is Plastiblends India Ltd undervalued or overvalued?

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

3. Is Plastiblends India Ltd a good buy now?

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

10 Year X-Ray of Plastiblends India:

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.
Plastiblends India Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 17.1%18.4%17.5%13%9.4%10.5%11%10.9%9.4%6.4%-
Value Creation
Index
0.20.30.3-0.1-0.3-0.3-0.2-0.2-0.3-0.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 466494520545568627606577718769801
Sales YoY Gr.-6.1%5.2%4.9%4.1%10.4%-3.4%-4.7%24.3%7.1%-
Adj EPS 9.711.31412.4101213.813.713.29.412.5
YoY Gr.-16%24.8%-12%-19%19.8%15.3%-0.7%-3.7%-28.5%-
BVPS (₹) 52.660.670.98695.4103.4108.1127146.8152155.8
Adj Net
Profit
25.229.236.532.12631.235.935.734.324.532
Cash Flow from Ops. 37.236.771.125.314.758.974.448.115.472.3-
Debt/CF from Ops. 0.80.61.23.67.21.30.70.72.20-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 5.7%6.2%8.3%7.1%
Adj EPS -0.3%-1.2%-11.9%-28.5%
BVPS12.5%9.8%12%3.6%
Share Price 14.6% 2.9% -0.1% 52.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
19.919.921.415.81112.113.111.79.76.38.1
Op. Profit
Mgn %
10.210.311.411.79.79.611.111.98.76.37.1
Net Profit
Mgn %
5.45.975.94.655.96.24.83.24.1
Debt to
Equity
0.20.10.50.40.40.30.20.10.10-
Working Cap
Days
12512012312914814113614412911961
Cash Conv.
Cycle
81726774981071121141069746

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to 8.10%

Sales growth has been subdued in last 3 years 8.25%

Net Profit has been subdued in last 3 years -11.93%

Sales growth is not so good in last 4 quarters at 2.24%

Latest Financials - Plastiblends India Ltd.

Standalone Consolidated
TTM EPS (₹) 12.5 -
TTM Sales (₹ Cr.) 801 -
BVPS (₹.) 155.8 -
Reserves (₹ Cr.) 392 -
P/BV 1.48 -
PE 18.47 -
From the Market
52 Week Low / High (₹) 139.00 / 357.15
All Time Low / High (₹) 1.49 / 357.15
Market Cap (₹ Cr.) 600
Equity (₹ Cr.) 13
Face Value (₹) 5
Industry PE 47

Management X-Ray of Plastiblends India:

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 (%)

Event Update

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Analyst's Notes

Key Ratios of Plastiblends India

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales466494520545568627606577718769
Operating Expenses 419444461482513567538509655720
Manufacturing Costs24252729293636344047
Material Costs332347359393424474422393535587
Employee Cost 13162025262731313436
Other Costs 50555535343050504749
Operating Profit 47515963556067696248
Operating Profit Margin (%) 10.1%10.3%11.4%11.6%9.7%9.6%11.1%11.9%8.7%6.3%
Other Income 3222213467
Interest 6448882332
Depreciation 46611121217161616
Exceptional Items 0000000000
Profit Before Tax 41435246384252534936
Tax 13131414111014161210
Profit After Tax 27303833273137373727
PAT Margin (%) 5.8%6.1%7.2%6.0%4.8%5.0%6.1%6.5%5.1%3.5%
Adjusted EPS (₹)10.511.614.512.610.512.014.314.414.110.3
Dividend Payout Ratio (%)24%24%24%10%24%23%26%28%28%39%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 137158184224248269281330381395
Share Capital 6666131313131313
Reserves 130151178217235256268317368382
Minority Interest0000000000
Debt31208291105704032340
Long Term Debt60344125179000
Short Term Debt2520485080533132340
Trade Payables32295036411620262428
Others Liabilities 48514548476068657961
Total Liabilities 248258361399441414409453518484

Fixed Assets

Gross Block101116201180197206227241266266
Accumulated Depreciation37435011223349647988
Net Fixed Assets6473151169176173178177187179
CWIP 1510103920
Investments 333101186245167
Inventories58455771988099124136122
Trade Receivables88921081101211321019411991
Cash Equivalents 4332221323
Others Assets30373836341821222023
Total Assets 248258361399441414409453518484

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 37377125155974481572
PBT 41435246384252534936
Adjustment 109920192019181412
Changes in Working Capital 5125-31-291317-13-3634
Tax Paid -13-13-12-11-13-16-14-10-12-10
Cash Flow From Investing Activity -3-19-80-25-17-8-20-27-5-26
Capex -4-20-81-26-18-9-21-21-6-8
Net Investments 1001010-70-19
Others 0000000111
Cash Flow From Financing Activity -32-18903-51-55-19-12-45
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 2-6000-8-8-1700
Interest Paid 000-8-8-8-1-3-3-1
Dividend Paid -5-8-19-1-4-8-200-11-10
Others -28-528814-27-2512-34
Net Cash Flow 2-1000-1-11-11
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)21.4920.4222.0416.0411.5912.0613.5312.2210.316.92
ROCE (%)27.1126.8524.9318.7313.6614.2215.8316.2613.49.53
Asset Turnover Ratio2.062.11.811.561.381.471.471.351.491.55
PAT to CFO Conversion(x)1.371.231.870.760.561.921.30.412.67
Working Capital Days
Receivable Days64626567737470615450
Inventory Days43353339535254706661
Payable Days31324040332215211716

Plastiblends India Ltd Stock News

Plastiblends India Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Plastiblends India on 28-Mar-2024 16:01 is ₹230.0.
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 28-Mar-2024 16:01 the market cap of Plastiblends India stood at ₹600.0.
The latest P/E ratio of Plastiblends India as of 28-Mar-2024 16:01 is 18.47.
The latest P/B ratio of Plastiblends India as of 28-Mar-2024 16:01 is 1.48.
The 52-week high of Plastiblends India is ₹357.1 and the 52-week low is ₹139.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Plastiblends India is ₹801.2 ( Cr.) .

About Plastiblends India Ltd

Plastiblends India Limited, promoted by the 'Kolsite Group' is located in the union territory of Daman, to manufacture various types of Master Batches, Compounds, Blends, Alloys, etc. for the Plastics Industry. Plastiblends India Limited is the first masterbatch manufacturing company in India who has been awarded ISO 9001 Quality Assurance Certification by TUV Bayern, Germany.

Plastiblends India (PBI) is India’s largest manufacturer and exporter of masterbatches and additive compounds for the plastic processing industry. Headquartered in Mumbai, India, their world class manufacturing, product development and application facilities are located in Daman and Roorkee.

The company has made a large investments in innovative technology and R&D and is having a total manufacturing capacity of over 40000 Tones per annum.

The company’s products are highly compatible with a wide range of polymers like polyolefin, polystyrenes, polyamides, PBT, PET and a diverse range of engineering plastics.

Backed by years of experience the company is able to offer optimum solutions to its customers by constantly monitoring market demand and customers’ changing needs.

PBI has got the coveted ‘Export House’ status by Government of India. They have been making a major export thrust in keeping with their global aspirations. Their products match international quality standards making them globally acceptable. They have been exporting to more than 30 countries worldwide in Asian, African, European, South American Markets and New Zealand.  They are poised to extend their footprint to the advanced North American Markets.

Product range of the company includes:

Plastiblends India Limited produces a large range of standard colours suitable for all major processing methods and compatible with polyolefins like PE, PP, EVA. They also supply universal master batches compatible with various plastics like HIPS, ABS, Filled PP.

  • White Masterbatches
  • Black Masterbatches
  • Color Masterbatches
  • Additive Masterbatches
  • Speciality Masterbatches
  • Conductive Compound
  • Filler

Its range of Additive Masterbatches include :

Slip Additives, Antioxidants, Antiblocking Agents, Antistatic Agents, Antifibrillation Agents, Ultraviolet Absorbers, Blowing Agents, Nucleating Agents, Optical Brightner and Special Additives.

Achievements/ recognition:

  • First Indian MB manufacturer with ISO 9001-2000 certification by TUV Bayern, Germany.
  • 2009 - Plastic Export Promotion Council has awarded to the Company a Certificate and a Trophy for winning First Position as a "Top Exporter for Masterbatches".
    The Company has been ranked at 97th position among the Top 500 Manufacturing SMB's for its superior financial performance
  • 2011 - The Plastic Export Promotion Council (PLEXCONCIL) has awarded to the Company a Certificate and a Trophy for winning First Position as a "Top Exporter of Masterbatches"
  • 2012 - The Company had participated in "Plastindia 2012" 8th International Exhibition held at Pragati Maidan, New Delhi. Plastiblends was bestowed with the Plasticon "GOLD TROPHY AWARD" for Fastest Growing Enterprise-Processing (Commodity Polymers).


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