SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Polycon International Ltd (531397)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531397 NSE: Plastic Products | Small Cap | Polycon Internatl. Share Price

₹19.89 0.09 (0.45%)

As on 04-Jun'26 16:59

Polycon International Ltd (531397)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531397 NSE: Plastic Products | Small Cap | Polycon Internatl. Share Price

₹19.89 0.09 (0.45%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹10 Cr.
Current Price
₹19.9
52-Week Low / High
₹15 / 35
TTM EPS
₹-5.9
TTM Sales
₹17.6 Cr.
Book Value per Share
₹1.1
P/E Ratio
0.00
Lower than its 5-year historical median
Industry PE
39
Price to Book (P/B)
17.40
Higher than its 5-year historical median
Price to Sales (P/S)
0.55
Higher than its 5-year historical median
EV/EBITDA
96.40
Higher than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
4.24%
Underperforms industry median
Return on Capital Employed (ROCE)
6.44%
Underperforms industry median
Return on Assets (ROA)
0.33%
Operating Profit Margin
6.2%
Net Profit Margin
0.65%
Gross Profit Margin
-3.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
-4.17%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-56.55%
Net Profit Growth (1 Year)
-
133.33%
Asset Quality
Promoter Holding
49.61%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹-4 Cr.
Equity
₹4.9 Cr.
Face Value
₹10
All Time Low / High
₹2.56 / 35.00

Polycon International stock performance

Key Ratios
mw4me loader

Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is Polycon International Ltd a good quality company?
Polycon International 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 Polycon International Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Polycon International Ltd vs industry peers?
Polycon International Ltd revenue CAGR is -5.98%, compared to the industry median CAGR of 4.71%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Polycon International Ltd?
Promoters hold 49.61% of the Polycon International Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Polycon International Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 11.1% based on the current price.

10 Year X-Ray : Login to view analysis.

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.
Polycon International Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 8.5%7.7%6.1%7.4%-2.3%6.9%7.1%6.2%6.1%6.4%-
Value Creation
Index
-0.4-0.5-0.6-0.5-1.2-0.5-0.5-0.6-0.6-0.5-

Growth Parameters

Sales 36.839.635.637.53027.630.626.22322.118
Sales YoY Gr.-7.7%-10%5.4%-20%-8%10.7%-14.2%-12.2%-4.2%-
Adj EPS 0.50.50.10.3-3.3-0.6-0.20.10.1-3.1-5.9
YoY Gr.--9.4%-75%133.3%-1292.9%NANANA-14.3%-2658.3%-
BVPS (₹) 13.213.614.214.68.76.76.56.66.771.1
Adj Net
Profit
0.30.20.10.1-1.6-0.3-0.10.10.1-1.5-3
Cash Flow from Ops. 1.32.71.84.40.8-0.12.3-0-0.6-0.3-
Debt/CF from Ops. 16.28.111.95.228.4-351.512.1-2404.8-54.1-99.9-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales -5.5%-6%-10.3%-4.2%
Adj EPS -221.6%NANA-2658.3%
BVPS-6.8%-4.2%2.9%4.5%
Share Price 10.5% 30.3% 3.4% 4.4%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
3.83.30.81.8-26.2-6.9-2.71.81.6-38.4-143.9
Op. Profit
Mgn %
8.77.86.38.4711.110.811.713.66.21.2
Net Profit
Mgn %
0.70.60.20.4-5.4-1.1-0.30.30.3-6.8-16.3
Debt to
Equity
2.932.934.66.47.47.88.58.523.7
Working Cap
Days
154171202199250289299377467535332
Cash Conv.
Cycle
108122151153190214226288364427188

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales36.7539.5635.6137.5330.0227.6130.5526.2223.0222.06
Operating Expenses + 33.5636.4733.3834.3827.9324.5527.2623.1719.8920.70
Manufacturing Costs9.137.888.378.997.586.717.185.395.225.11
Material Costs20.2824.5320.2120.8416.0113.4616.0114.2211.3412.14
Employee Cost 2.532.593.183.253.353.243.052.342.202.32
Other Costs 1.621.471.621.300.991.151.011.231.141.12
Operating Profit 3.193.092.233.152.093.063.303.063.131.36
Operating Profit Margin (%) 8.7%7.8%6.3%8.4%7.0%11.1%10.8%11.7%13.6%6.2%
Other Income + 0.080.050.200.050.080.040.080.030.030.07
Exceptional Items 000.350-1.7700002.32
Interest 1.911.811.4022.172.202.211.862.072.17
Depreciation 0.980.981.0111.051.201.261.081.041.35
Profit Before Tax 0.390.340.370.20-2.82-0.29-0.090.150.050.23
Tax 0.120.100.070.050.060.010.020.08-0.010.08
Profit After Tax 0.270.240.300.15-2.88-0.30-0.100.060.060.14
PAT Margin (%) 0.7%0.6%0.9%0.4%-9.6%-1.1%-0.3%0.3%0.3%0.7%
Adjusted EPS (₹)0.60.50.60.3-5.9-0.6-0.20.10.10.3
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Polycon Internatl. - Standalone

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

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 + 7.027.227.527.674.813.813.713.783.843.98
Share Capital 5.445.445.445.445.445.445.445.445.445.44
Reserves 1.581.782.092.24-0.62-1.62-1.72-1.66-1.60-1.45
Debt +17.6019.0918.7319.6819.9722.2023.7928.2032.1533.06
Long Term Debt9.1910.129.6510.2810.9413.5014.8618.052225.78
Short Term Debt8.418.979.089.409.038.698.9310.1510.147.28
Minority Interest0000000000
Trade Payables1.161.011.381.162.482.063.522.372.963.12
Others Liabilities 4.264.374.956.294.054.905.973.093.103.32
Total Liabilities 30.0531.6832.5834.8031.3232.973737.4342.0543.48

Fixed Assets

Net Fixed Assets +10.6711.4311.8911.5110.349.729.868.798.939.05
Gross Block37.1538.8940.3540.9140.7041.2242.6142.6343.6043.95
Accumulated Depreciation26.4827.4628.4629.4030.3631.5032.7533.8434.6734.90
CWIP 0.680.210.212.360001.121.241.32
Investments 0.020.010.020.020.010.020.030.030.030.03
Inventories4.094.534.706.457.309.1713.1915.3019.0521.65
Trade Receivables9.5710.7712.0210.9810.4510.7510.908.728.738.38
Cash Equivalents 0.551.020.140.350.360.140.170.270.210.10
Others Assets 4.473.713.623.142.863.182.853.203.852.95
Total Assets 30.0531.6832.5834.8031.3232.973737.4342.0543.48

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 1.252.661.814.350.77-0.072.26-0.01-0.61-0.34
PBT 0.390.340.370.20-1.05-0.29-0.090.150.050.23
Adjustment 2.872.852.393.094.972.543.562.863.093.60
Changes in Working Capital -1.88-0.41-0.851.2-1.34-2.33-1.22-3.01-3.72-4.16
Tax Paid -0.14-0.11-0.11-0.13-0.04000-0.02-0.01
Cash Flow From Investing Activity + -0.95-1.30-0.76-2.760.69-0.52-1.36-1.20-1.34-1.38
Capex -1.08-1.78-1.46-2.780.70-0.58-1.39-0.02-1.18-1.44
Net Investments 0.050-00000000
Others 0.080.480.700.01-0.010.050.04-1.18-0.170.06
Cash Flow From Financing Activity + 0.07-0.90-1.93-1.38-1.460.37-0.871.311.881.61
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 2.0500002.561.363.193.963.78
Interest Paid -1.91-1.81-1.40-2-2.17-2.20-2.21-1.86-2.07-2.17
Dividend Paid 0000000000
Others -0.070.91-0.530.610.710.01-0.02-0.02-0.01-0
Net Cash Flow 0.370.46-0.880.21-0-0.220.030.10-0.07-0.11

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)4.293.644.472.1-50.53-7.86-3.142.011.914.24
ROCE (%)8.457.686.137.38-2.286.927.146.236.076.44
Asset Turnover Ratio1.451.281.111.110.910.860.870.70.580.52
PAT to CFO Conversion(x)4.6311.086.0329N/AN/AN/A-0.17-10.17-2.43
Working Capital Days
Receivable Days86.5093.80116.80111.90130.30140.10129.30136.60138.40141.60
Inventory Days32.1039.8047.3054.2083.60108.90133.60198.30272.30336.70
Payable Days17.4016.2021.6022.2041.5061.6063.7075.6085.7091.40

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

Polycon International Ltd FAQs

The current trading price of Polycon Internatl. on 04-Jun-2026 16:59 is ₹19.89.

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 Polycon Internatl. stood at ₹9.72 Cr

The latest P/E ratio of Polycon Internatl. as of 03-Jun-2026 is 0.00.

The latest P/B ratio of Polycon Internatl. as of 03-Jun-2026 is 17.40.

The 52-week high of Polycon Internatl. is ₹35.00 and the 52-week low is ₹15.45.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Polycon Internatl. is ₹17.63 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Polycon International Ltd is a below average quality company.

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

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

About Polycon International Ltd

Polycon International is a public company having listing on major stock exchanges of India. It is a flagship company of the dynamic business family of Baids who promoted this company in 1994 with a wide vision. The company has the mixture of experienced and young professionals to manage the affairs and is the leader in India in its field of operations. They have the international operations in Abu Dhabi in the name of Polycon Gulf Ltd. and in Nepal in the name of Polycon Nepal Ltd. Apart from this; the company is exporting its products throughout the world.

Polycon International is primarily engaged in processing various kinds of plastics like LLDPE, HDPE, PVC, PP, PET, ABS; manufacturing Rotational Moulding, Extrusions, Stretch Blow Moulding and Injection moulding products. It is a leader in the field and enjoys a brand reputation.

In rotational moulding, the name of Polycon is synonymous of water storage tanks in India. Apart from manufacturing storage tanks, the company makes a wide variety of other rotational moulded items viz. household articles, iceboxes, industrial containers and chemical storage tanks, pallets etc. In the field of extrusions, they  manufacture PVC profiles for doors and windows, Rigid PVC pipes and fittings thereof. In stretch blow moulding, the company has Eleven Nissei ASB 70 DPH Japanese machines and is among the leading manufacturers of PET Bottles and Jars in India. In injection moulding, the company is engaged in the manufacture of Closures for Bottles and Jars and Telephone Equipment plastics in ABS.

The company has multiple production facilities spread out throughout the country to serve the customers in all corners, it has plants at Chennai in the south, Bhiwadi (near Gurgaon) in the north and Jaipur in western India.

The company has an all India network of dealers and distributors and has more than 1000 dealers in different parts of the country. The institutional customers include major multinationals operating in India and the national players as well. The international ventures are also doing very well and are enjoying the reputation in the entire Middle East.

The company had a Group turnover of Rs 260 million last year and is expected to do better this year as new expansions are in the pipeline.

Product range of the company includes:

  • Water Storage Tanks
  • Jars 
  • Bottles & Caps 
  • Telephone Sets

Future plans :

For next year

  • Acquisition of two more machines to cater to the rising demand for Jars; pharmacutical & Liquor bottles. The deal is already under negotiation.
  • Acquire 2 Vertical Machining Centres and develop in-house CAD centres to manufacture the moulds and dies faster and accurately than earlier. One is already with us and is under installation.
  • Acquire 2 injection molding machine to calls to closers market.

For next 3 years ending March 2011

Increase the number of PET stretch blow-moulding machines to 15 based on the projected demand of liquor, cosmetic, confectionery and pharmaceutical industry. Expansion in injection moulding division to cater the need of HFCL, Shyam Telecom and Dabur India Limited and develop new business.

Areas of Focus:

  • Pharmaceutical bottles
  • Liquor Bottles
  • Cosmetic bottles
  • Beer bottles in PET with plasma coating
  • Jars of confectionary and herbal products
To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×