Solve Plastic Products Ltd
Founded in 1994, Solve Plastic Products Limited manufactures a wide range of uPVC pipes and rigid PVC electrical conduits, marketed under the brand name "BALCOPIPES."[1]
- Market Cap ₹ 20.1 Cr.
- Current Price ₹ 46.0
- High / Low ₹ 112 / 44.5
- Stock P/E 14.4
- Book Value ₹ 29.4
- Dividend Yield 0.00 %
- ROCE 18.6 %
- ROE 44.3 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has a good return on equity (ROE) track record: 3 Years ROE 39.4%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Tax rate seems low
- Earnings include an other income of Rs.0.97 Cr.
- Debtor days have increased from 32.2 to 40.9 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Plastic products Industry: Plastics Products
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|
| 40.59 | 54.59 | 58.71 | 45.08 | |
| 39.36 | 53.50 | 56.75 | 42.39 | |
| Operating Profit | 1.23 | 1.09 | 1.96 | 2.69 |
| OPM % | 3.03% | 2.00% | 3.34% | 5.97% |
| 0.66 | 0.71 | 1.48 | 0.97 | |
| Interest | 1.67 | 1.43 | 1.38 | 1.44 |
| Depreciation | 1.18 | 0.90 | 0.83 | 0.77 |
| Profit before tax | -0.96 | -0.53 | 1.23 | 1.45 |
| Tax % | -84.38% | -22.64% | 2.44% | 1.38% |
| -0.15 | -0.41 | 1.20 | 1.42 | |
| EPS in Rs | -0.49 | -1.35 | 3.95 | 4.63 |
| Dividend Payout % | -0.00% | -0.00% | -0.00% | -0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 4% |
| TTM: | -23% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 117% |
| TTM: | 22% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 39% |
| Last Year: | 44% |
Balance Sheet
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
|---|---|---|---|---|---|
| Equity Capital | 3.04 | 3.04 | 3.04 | 3.07 | 4.37 |
| Reserves | -1.90 | -2.31 | -1.11 | 1.32 | 8.45 |
| 15.44 | 12.30 | 12.22 | 12.41 | 9.76 | |
| 4.76 | 5.20 | 4.60 | 5.32 | 4.81 | |
| Total Liabilities | 21.34 | 18.23 | 18.75 | 22.12 | 27.39 |
| 5.52 | 5.28 | 5.14 | 5.26 | 6.06 | |
| CWIP | -0.00 | -0.00 | -0.00 | 0.89 | 0.24 |
| Investments | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 |
| 15.82 | 12.95 | 13.61 | 15.97 | 21.09 | |
| Total Assets | 21.34 | 18.23 | 18.75 | 22.12 | 27.39 |
Cash Flows
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|
| 2.36 | 5.30 | 2.14 | 2.07 | |
| -0.11 | -0.73 | -0.68 | -1.85 | |
| -2.25 | -4.57 | -1.46 | -0.22 | |
| Net Cash Flow | -0.00 | -0.00 | -0.01 | -0.00 |
Ratios
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|
| Debtor Days | 45.14 | 29.95 | 25.61 | 40.89 |
| Inventory Days | 80.09 | 51.82 | 54.86 | 91.52 |
| Days Payable | 20.83 | 25.91 | 10.58 | 30.51 |
| Cash Conversion Cycle | 104.40 | 55.86 | 69.90 | 101.90 |
| Working Capital Days | 91.45 | 45.60 | 50.54 | 79.02 |
| ROCE % | 6.08% | 18.84% | 18.55% |
Documents
Announcements
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Reply to Clarification- Financial results
17 December 2024 - Exchange had sought clarification from Solve Plastic Products Limited for the quarter ended 30-Sep-2024 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. …
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Clarification - Financial Results
11 December 2024 - Exchange has sought clarification from Solve Plastic Products Limited for the quarter ended 30-Sep-2024 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. …
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Financial Result Updates
14 November 2024 - Solve Plastic Products Limited has submitted to the Exchange, the financial results for the period ended September 30, 2024.
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Statement of deviation(s) or variation(s) under Reg. 32
8 November 2024 - Solve Plastic Products Limited has informed about statement of deviation(s) or variation(s) under Reg. 32
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Outcome of Board Meeting
8 November 2024 - Solve Plastic Products Limited has informed regarding Board meeting held on November 08, 2024.
Annual reports
No data available.
Product Portfolio[1][2]
Solvent cement
Water tank
Garden hoses
Rigid PVC electrical cables
uPVC pipes