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Polymac Thermoformers Ltd (537573) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

BSE: 537573 NSE: | Plastic Products | Small Cap

Polymac Thermoformer Share Price

14.50 -0.25 (-1.69%)
As on 04-May'26 11:38

Polymac Thermoformers Ltd (537573)

BSE: 537573 NSE:
Key Metrics
Market Cap
₹7 Cr.
P/E Ratio
160.29
Price to Book (P/B)
0.66
Price to Sales (P/S)
0.82
EV/EBITDA
19.68
Return on Capital Employed (ROCE)
2.00%
Current Price
₹14.5
Return on Equity (ROE)
0.42%
Return on Assets (ROA)
0.24%
Operating Profit Margin
-2.2%
Net Profit Margin
0.52%
Gross Profit Margin
3.1%
Book Value per Share
₹22.2
Sales Growth (YoY)
-41.1%
Sales Growth (3 Years)
6.08%
Operating Profit Growth (1 Year)
-272.73%
Operating Profit Growth (3 Years)
N/A%
Net Profit Growth (1 Year)
-87.1%
52-Week Low / High
₹11 / 20
Net Profit Growth (3 Years)
-95.55%
Dividend Yield
0.00%
Promoter Holding
25.21%
Pledged shares (%)
of Promoter's holding (%)
0.00%

Check Before You Invest

Q.1 Stock return of Polymac Thermoformers Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -0.7% based on the current price.
Q.1 Revenue growth of Polymac Thermoformers Ltd?
Polymac Thermoformers Ltd revenue growth is -41.1% for FY-2025, which is below its 5-year CAGR of 10.34%, indicating slower growth.
Q.1 Which industry/sub-sector does Polymac Thermoformers Ltd belong to?
Polymac Thermoformers Ltd belongs to the Chemicals & Fertilizers sector, operating specifically within the Plastic Products segment.
Q.1 Promoter shareholding and pledge status of Polymac Thermoformers Ltd?
Promoters hold 25.21% of the Polymac Thermoformers Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Revenue growth of Polymac Thermoformers Ltd vs industry peers?
Polymac Thermoformers Ltd revenue CAGR is 10.34%, compared to the industry median CAGR of 7%, indicating faster growth and gaining its market share.

DeciZen - make an informed investing decision on Polymac Thermoformer

Based on:

M-Cap below 100cr DeciZen not available

Polymac Thermoformers stock performance

Key Ratios
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Is Polymac Thermoformers Ltd an attractive stock to invest in?

1. Is Polymac Thermoformers Ltd a good quality company?

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

2. Is Polymac Thermoformers Ltd undervalued or overvalued?

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

3. Is Polymac Thermoformers Ltd a good buy now?

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

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

Value Creation

Value Creation Index Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 0.6%3.1%-0.5%1.7%-0.9%2.5%3.5%2.6%4%2%-
Value Creation
Index
-1.0-0.8-1.0-0.9-1.1-0.8-0.8-0.8-0.7-0.9-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1.52.63.96.75.26.17.28.814.68.69
Sales YoY Gr.-77.7%48.7%72.1%-22.1%17.2%16.9%22.6%65.3%-41.1%-
Adj EPS 00.5-0.20.2-0.501.10.90.60.10.1
YoY Gr.-1466.7%-144.7%NA-317.4%NA10400%-10.5%-31.9%-85.9%-
BVPS (₹) 21.822.322.122.321.82223.121.522.122.222.2
Adj Net
Profit
00.2-0.10.1-0.200.50.50.300
Cash Flow from Ops. -0.40.7-0.6-1.90.7-0.6-25.525.3-1.50-
Debt/CF from Ops. -3.32.1-0.9-0.72-2.6-1.10.3-1.1110.5-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 21.6%10.3%6.1%-41.1%
Adj EPS 13%NA-55.9%-85.9%
BVPS0.2%0.4%-1.2%0.4%
Share Price -0.9% 9.1% -24.3% 20.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
0.12.2-0.91-2.304.74.230.40.4
Op. Profit
Mgn %
-95.2-170.5-17.2-0.1-9.9-6.7-0.4-100.7-2.2-73
Net Profit
Mgn %
18.6-2.61.6-4.60.175.12.10.50.5
Debt to
Equity
0.10.10.10.10.10.22.60.70.10.2-
Working Cap
Days
2,8521,6701,0205667616311,1869313076560
Cash Conv.
Cycle
318209160149221185195159761180

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to 0.40%

Sales growth has been subdued in last 3 years 6.08%

Sales growth is not so good in last 4 quarters at 0.00%

Latest Financials

Standalone Consolidated
TTM EPS (₹) 0.1 -0.4
TTM Sales (₹ Cr.) 8.6 3.9
BVPS (₹) 22.2 0
Reserves (₹ Cr.) 6 6
P/BV 0.66 0.00
PE 160.29 0.00
From the Market
52 Week Low / High (₹) 11.31 / 20.31
All Time Low / High (₹) 7.21 / 210.00
Market Cap (₹ Cr.) 7.1
Equity (₹ Cr.) 4.8
Face Value (₹) 10
Industry PE 39.4

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 (%)

Valuation of Polymac Thermoformer - Standalone Basis

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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Event Update

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Analyst's Notes

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No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1.482.633.916.735.246.147.188.8014.558.57
Operating Expenses + 2.897.124.586.745.776.557.219.6814.448.76
Manufacturing Costs0.874.070.301.100.761.281.402.253.412.19
Material Costs1.502.463.114.743.964.344.826.277.245.42
Employee Cost 0.400.380.860.570.570.520.520.630.600.65
Other Costs 0.110.220.310.340.470.400.470.543.190.49
Operating Profit -1.41-4.49-0.67-0.01-0.53-0.41-0.03-0.880.11-0.19
Operating Profit Margin (%) -95.2%-170.0%-17.2%-0.1%-10.1%-6.7%-0.4%-10.0%0.7%-2.2%
Other Income + 1.624.960.710.290.550.791.061.810.670.63
Exceptional Items 000000.020000
Interest 0.050.060.040.060.120.100.250.140.160.17
Depreciation 0.140.100.090.090.120.100.130.170.190.20
Profit Before Tax 0.020.31-0.100.13-0.220.200.650.610.420.07
Tax 00.0800.020.030.090.150.160.110.03
Profit After Tax 0.020.23-0.100.11-0.240.110.500.450.310.04
PAT Margin (%) 1.0%8.6%-2.4%1.6%-4.7%1.8%7.0%5.1%2.1%0.5%
Adjusted EPS (₹)0.00.5-0.20.2-0.50.21.10.90.60.1
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund + 10.4110.6410.5410.6510.4110.5211.0210.2710.5810.62
Share Capital 4.784.784.784.784.784.784.784.784.784.78
Reserves 5.635.865.765.875.635.746.245.485.795.84
Debt +1.281.410.521.291.281.5628.296.531.531.67
Long Term Debt000000.330.100.041.531.67
Short Term Debt1.281.410.521.291.281.2228.206.4900
Minority Interest0000000000
Trade Payables0.450.560.590.260.430.290.640.283.023.49
Others Liabilities 1.422.260.220.280.220.360.861.193.782.75
Total Liabilities 13.5614.8711.8712.4912.3312.7240.8118.2718.9118.53

Fixed Assets

Net Fixed Assets +0.991.030.941.061.201.2022.042.232.69
Gross Block2.722.882.651.063.133.224.154.374.765.41
Accumulated Depreciation1.741.851.7101.922.022.152.332.532.72
CWIP 0000000000
Investments 0.541.6210.050.220.881.030.690.770.78
Inventories1.731.441.712.552.433.043.213.154.315.05
Trade Receivables-0.370.600.571.490.520.891.470.791.530.41
Cash Equivalents 0.010.150.150.280.140.181.576.850.100.04
Others Assets 10.6610.027.507.067.826.5331.524.749.979.56
Total Assets 13.5614.8711.8712.4912.3312.7240.8118.2718.9118.53

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -0.380.68-0.60-1.940.65-0.60-25.4925.34-1.450.02
PBT 0.020.31-0.100.13-0.220.180.650.600.420.07
Adjustment -0.490.12-0.09-0.11-0.29-0.38-0.68-1.49-0.30-0.26
Changes in Working Capital 0.020.24-0.42-1.891.19-0.32-25.4326.22-1.430.2
Tax Paid 0.070.020-0.08-0.03-0.09-0.030-0.130
Cash Flow From Investing Activity + -0.33-0.57-5.891.43-0.680.46-0.031.920.18-0.04
Capex -0.0700.05-0.22-0.27-0.10-0.93-0.21-0.39-0.66
Net Investments 0.08-1.08-5.810.95-0.17-0.02-0.150.34-0.08-0.01
Others -0.340.51-0.130.70-0.250.571.051.790.650.63
Cash Flow From Financing Activity + 0.56-0.076.490.64-0.110.1926.91-21.97-5.49-0.03
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0.12-0.066.49-0.0700-0.24-0.061.490.14
Interest Paid -0.05-0.050-0.06-0.10-0.09-0.24-0.13-0.16-0.17
Dividend Paid 0000000000
Others 0.500.03-00.77-0.010.2827.39-21.79-6.830
Net Cash Flow -0.150.04-00.13-0.140.051.395.29-6.76-0.06

Finance Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)0.142.16-0.91.02-2.321.054.654.212.960.42
ROCE (%)0.633.11-0.451.65-0.862.523.482.633.972
Asset Turnover Ratio0.110.190.290.550.420.490.270.30.780.46
PAT to CFO Conversion(x)-192.96N/A-17.64N/A-5.45-50.9856.31-4.680.5
Working Capital Days
Receivable Days-37.301654.6055.807041.906046.8029.1041.30
Inventory Days386.40220.20147.20115.30173.30162.50158.80131.9093.60199.30
Payable Days80.907567.1032.7031.9030.2035.1026.8083.30219.40

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Polymac Thermoformers Ltd FAQs

The current trading price of Polymac Thermoformer on 04-May-2026 11:38 is ₹14.50.

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-May-2026 the market cap of Polymac Thermoformer stood at ₹7.05 Cr

The latest P/E ratio of Polymac Thermoformer as of 03-May-2026 is 160.3.

The latest P/B ratio of Polymac Thermoformer as of 03-May-2026 is 0.66.

The 52-week high of Polymac Thermoformer is ₹20.31 and the 52-week low is ₹11.31.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Polymac Thermoformer is ₹8.57 ( Cr.) .

About Polymac Thermoformers Ltd

Polymac Thermoformers was originally incorporated in Kolkata as ‘Polymac Thermoformers Private Limited’ on December 17, 1999 under the Companies Act, 1956 vide certificate of incorporation issued by the Registrar of Companies, West Bengal. The company was converted in to a public limited company and consequently the name was changed to “Polymac Thermoformers Limited' vide fresh certificate of incorporation dated August 26, 2013 issued by the Registrar of Companies, West Bengal.

Business area of the company

The company is engaged in the business of manufacturing disposable plastic products such as plastic glasses, cups, bowls. The company has evolved in 1999 and in 2001 and has set up its manufacturing facility which is situated at Dankuni, Dankuni Coal Complex, Hoogly.

In modern era of fast food industry, there is a thirst of disposable utensil such as glass, cups, bowls etc which are rapidly replacing conventional utensils. These disposable plastic utensils are fast replacing conventional glasses, cups etc. These disposable plastic utensils are manufactured by thermoforming technique and are increasingly used in Ice cream industry, hotels, restaurants, canteens, etc. against conventional glass-wares or ceramic cups. The company manufactured disposable cups, glasses are mainly used for food items and are made out of polypropylene or polystyrene sheets.

Major Events and Milestones

  • December 1999: Incorporation of the company in the name and style of “Polymac Thermoformers Private Limited”.
  • March 2001: Control of company acquired by Puspjeet Kumar.
  • April 2001: Acquisition of leasehold rights of 23.75 Satak of land situated at Dankuni, P.O.-Dankuni Coal Complex, Dist.-Hoogly.
  • August 2013: Conversion of company from private limited to public limited.

 

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