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10 Yrs X-Ray 
Valuation 
Analyst Note 
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About
Shree TNB Polymers Ltd (544978)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544978 NSE: Plastic Products | Small Cap | Shree TNB Polymers Share Price
₹54.07 -1.90 (-3.39%)
As on 13-Oct'26 16:59
Shree TNB Polymers Ltd (544978)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544978 NSE: Plastic Products | Small Cap | Shree TNB Polymers Share Price
₹54.07 -1.90 (-3.39%)
As on 13-Oct'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹119 Cr.
Current Price
₹54.1
52-Week Low / High
₹54 / 60
TTM EPS
-
TTM Sales
-
Book Value per Share
-
P/E Ratio
Industry PE
37.1
Price to Book (P/B)
Price to Sales (P/S)
EV/EBITDA
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
%
Return on Capital Employed (ROCE)
%
Return on Assets (ROA)
%
Operating Profit Margin
0%
Net Profit Margin
-%
Gross Profit Margin
0%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
12.8%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
32.76%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
-
Equity
₹21.3 Cr.
Face Value
₹10
All Time Low / High
₹54.00 / 60.00
Check Before You Invest
Quality
Not GoodValuation
NACheck Valuation charts
Price Trend
Weak
Is Shree TNB Polymers Ltd a good quality company?
Shree TNB Polymers 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 Shree TNB Polymers Ltd performance compare with that of its Peers?
Revenue growth of Shree TNB Polymers Ltd vs industry peers?
Shree TNB Polymers Ltd revenue CAGR is -13.86%, compared to the industry median CAGR of %, indicating slower growth and losing its market share.
Promoter shareholding and pledge status of Shree TNB Polymers Ltd?
Promoters hold 32.76% of the Shree TNB Polymers Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Shree TNB Polymers Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% 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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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.
Shree TNB Polymers 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'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 10.1% | 9.9% | 12.6% | 13.2% | 11% | 11.3% | 14.4% | 18.2% | 16.7% | 17.3% | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 93.4 | 84.7 | 112 | 117 | 97.1 | 129 | 173 | 208 | 176 | 198 | 198 |
| Sales YoY Gr. | - | -9.3% | 32.1% | 4.7% | -17.1% | 33.2% | 33.4% | 20.5% | -15.5% | 12.8% | - |
| Adj EPS ⓘ | 0.7 | 0.4 | 0.9 | 0.8 | 0.5 | 1.7 | 1.5 | 3.6 | 3.6 | 4.6 | 3.3 |
| YoY Gr. | - | -36.4% | 119.1% | -18.5% | -28% | 214.8% | -10.6% | 138.8% | -1.1% | 27.9% | - |
| BVPS (₹) ⓘ | 15.7 | 16.1 | 17.1 | 17.8 | 18.4 | 20.5 | 21.7 | 25.5 | 31.6 | 36.3 | 41 |
| Adj Net Profit ⓘ | 0.7 | 0.4 | 0.9 | 0.8 | 0.6 | 2 | 2 | 4.9 | 5.5 | 7 | 7 |
| Cash Flow from Ops. ⓘ | 3.6 | 4.5 | 12.7 | 2.3 | 6 | 4.8 | 7.9 | 7 | 4.3 | 8.8 | - |
| Debt/CF from Ops. ⓘ | 8 | 6.2 | 1.9 | 11.3 | 4.3 | 5.9 | 4.5 | 5.1 | 8.9 | 5 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 8.7% | 15.3% | 4.7% | 12.8% | ||||
| Adj EPS ⓘ | 24.1% | 53.4% | 44.5% | 27.9% | ||||
| BVPSⓘ | 9.8% | 14.5% | 18.6% | 14.7% | ||||
| Share Price | - | - | - | - | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 4.3 | 2.6 | 5.5 | 4.5 | 3 | 9 | 7.7 | 15.4 | 13.3 | 13.5 | 8.7 |
| Op. Profit Mgn % ⓘ | 7.7 | 8.1 | 6.6 | 6.7 | 7.4 | 6 | 6.2 | 7.4 | 9 | 10 | NAN |
| Net Profit Mgn % ⓘ | 0.7 | 0.5 | 0.8 | 0.7 | 0.6 | 1.6 | 1.2 | 2.4 | 3.1 | 3.6 | 3.6 |
| Debt to Equity ⓘ | 1.8 | 1.7 | 1.4 | 1.3 | 1.3 | 1.2 | 1.2 | 1.1 | 0.8 | 0.8 | - |
| Working Cap Days ⓘ | 120 | 157 | 112 | 124 | 170 | 143 | 126 | 113 | 151 | 160 | 0 |
| Cash Conv. Cycle ⓘ | 63 | 85 | 63 | 60 | 83 | 61 | 52 | 48 | 79 | 80 | 0 |
Valuation of Shree TNB Polymers - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
No data found!
No data found!
No data found!
No data found!
Top 5 Mutual Funds Holding
Last Visited Stocks
Announcements
Shree TNB Polymers Ltd FAQs
The current trading price of Shree TNB Polymers on 13-Oct-2026 16:59 is ₹54.07.
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 12-Oct-2026 the market cap of Shree TNB Polymers stood at ₹119.5 Cr
The latest P/E ratio of Shree TNB Polymers as of 12-Oct-2026 is 16.74.
The latest P/B ratio of Shree TNB Polymers as of 12-Oct-2026 is 1.37.
The 52-week high of Shree TNB Polymers is ₹60.00 and the 52-week low is ₹54.00.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Shree TNB Polymers is ₹198 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Shree TNB Polymers Ltd is a below average quality company.
No data found
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Shree TNB Polymers Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Shree TNB Polymers Ltd
Shree TNB Polymers was originally incorporated on March 07, 2007, as ‘Shree TNB Polymers Limited’ under the provisions of the Companies Act, 1956 pursuant to issuance of fresh Certificate of Incorporation dated March 07, 2007 by the Registrar of Companies, Gujarat, Dadra & Nagar Haveli.
Shree TNB Polymers is polymer manufacturing company specializing in piping systems and plastic solutions. The company primarily offers product portfolio comprising HDPE pipes & fittings, PP (Polypropylene) and PPH (Polypropylene Homopolymer) pipes & fittings, Double Wall Corrugated (DWC) pipes, sprinkler pipes, drip irrigation systems, solid industrial sheets and Well pack sheets for packaging and industrial applications. With a strong focus on engineering excellence, durability, and application-specific performance, TNB Polymers delivers reliable and scalable solutions across infrastructure, agriculture and industrial sectors.
The company’s products are designed to meet the evolving demands of critical applications such as irrigation and agriculture, potable water supply schemes, sewerage and drainage systems, telecom cable protection, construction, and industrial usage. Its HDPE piping systems are widely used in borewell and underground water extraction, as well as in specialized applications including seawater intake systems, desalination plants, and dredging operations- highlighting the company’s capability to operate in both conventional and highperformance environments.
In addition to piping systems, TNB Polymers has established a strong presence in value-added polymer segments. Its Well pack sheets are extensively used for signage, packaging, construction floor protection, industrial partitions and advertising boards, while solid industrial sheets are utilized in chemical tanks, scrubber linings, CNC (Computer Numerical Control) machining, industrial fabrication, and automotive components. The company’s DWC pipes are widely deployed in underground sewerage networks, drainage systems, culverts, cable ducts, and highway infrastructure projects, positioning TNB as a comprehensive polymer solutions provider.
Business area of the company
Shree TNB Polymers is engaged in manufacturing an array of polymer sheets, piping systems, and flute board. The company primarily offers product portfolio comprising HDPE pipes & fittings, PP (Polypropylene) and PPH (Polypropylene Homopolymer) pipes & fittings, Double Wall Corrugated (DWC) pipes, sprinkler pipes, drip irrigation systems, solid industrial sheets and Well pack sheets for packaging and industrial applications.
Products of the company
- Solid Polymer Sheets
- HDPE Pipes
- Double Wall Corrugated Pipes (DWC)
- Inline Drip Pipes
- Venturi System
- Filters (Plastic & MS)
- Sprinklers Systems
- Rain Gun
- Mini/ Micro Sprinkler
- PP Hollow Sheets (Flute Boards)
History and milestones
- 2007: Incorporation of the company as ‘Shree TNB Polymers Limited’ under the Companies Act, 1956 to take over the running businesses of Noble Polymers, Tirupati Plastic Industries and Balaji Polymers, establishing a strong foundation in the polymer industry.
- 2012: Diversified into the irrigation segment by entering the drip irrigation industry and commencing manufacturing of lateral pipes and drip irrigation systems, marking a strategic expansion into agri-solutions.
- 2023: Awarded ‘Best Display of Products’ at the Dahej Industrial Expo, jointly organized by AD’s Pages and Dahej Industries Association, recognizing product quality and presentation excellence.
- 2025: Strategically expanded operations by taking over the running business of Noble Polytec (DWC Pipes) through a slump sale, strengthening product portfolio and market presence in infrastructure piping solutions.
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