Sah Polymers Ltd

₹ 90.0 -0.08%

15 Jan - close price

About

Incorporated in 1992, Sah Polymers
Ltd does manufacturing and marketing
of FIBC and other flexible packaging
products^[1]

Key Points

Business Overview:^[1]^[2]
SAHPL is a Recognized Star Export
House by the Government of India. It is
a manufacturer of Flexible Intermediate
Bulk Containers from Simple builder bags
to complex C panel and circular baffle bags, Polypropylene Woven Bags, BOPP Laminated Bags

Website BSE NSE - BE

Market Cap ₹ 252 Cr.
Current Price ₹ 90.0
High / Low ₹ 130 / 71.6
Stock P/E 375
Book Value ₹ 32.5
Dividend Yield 0.00 %
ROCE 3.75 %
ROE 0.79 %
Face Value ₹ 10.0

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Pros

Company is expected to give good quarter

Cons

Stock is trading at 2.77 times its book value
Company has low interest coverage ratio.
Company has a low return on equity of 4.85% over last 3 years.
Earnings include an other income of Rs.2.46 Cr.
Debtor days have increased from 60.1 to 74.8 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: Packaging Industry: Packaging

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	26.57	24.04	17.00	14.75	19.60	26.34	25.32	29.51	24.02	31.33
	25.05	22.61	15.70	13.36	18.27	25.47	24.76	28.50	22.66	30.59
Operating Profit	1.52	1.43	1.30	1.39	1.33	0.87	0.56	1.01	1.36	0.74
OPM %	5.72%	5.95%	7.65%	9.42%	6.79%	3.30%	2.21%	3.42%	5.66%	2.36%
	0.32	0.22	0.53	0.43	0.46	0.45	0.89	0.39	0.29	0.89
Interest	0.33	0.38	0.58	0.62	0.72	0.69	0.84	0.72	0.72	0.74
Depreciation	0.22	0.23	0.23	0.45	0.52	0.51	0.56	0.57	0.58	0.59
Profit before tax	1.29	1.04	1.02	0.75	0.55	0.12	0.05	0.11	0.35	0.30
Tax %	27.91%	27.88%	22.55%	22.67%	21.82%	8.33%	20.00%	27.27%	20.00%	16.67%
	0.94	0.75	0.79	0.58	0.43	0.11	0.05	0.08	0.28	0.26
EPS in Rs	0.60	0.48	0.51	0.22	0.17	0.04	0.02	0.03	0.11	0.10
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	42	43	45	49	54	76	82	101	110
	40	41	43	47	52	69	76	97	107
Operating Profit	2	2	2	2	3	7	6	4	4
OPM %	5%	5%	5%	4%	5%	9%	7%	4%	3%
	0	0	0	1	1	1	1	2	2
Interest	1	1	1	2	1	1	2	3	3
Depreciation	1	1	1	1	1	1	1	2	2
Profit before tax	0	0	1	1	2	5	4	1	1
Tax %	81%	94%	49%	43%	22%	22%	26%	21%
	0	0	0	0	1	4	3	1	1
EPS in Rs	0.04	0.01	0.24	0.19	0.81	2.58	1.19	0.26	0.26
Dividend Payout %	0%	0%	0%	0%	0%	0%	42%	0%

Compounded Sales Growth
10 Years:	9%
5 Years:	17%
3 Years:	23%
TTM:	42%

Compounded Profit Growth
10 Years:	27%
5 Years:	8%
3 Years:	-20%
TTM:	-65%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	%
1 Year:	-27%

Return on Equity
10 Years:	%
5 Years:	5%
3 Years:	5%
Last Year:	1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	14	14	16	16	16	16	26	26	26
Reserves	1	1	3	4	4	8	58	58	58
	10	10	11	10	14	29	23	29	29
	4	4	7	7	7	9	10	12	14
Total Liabilities	29	29	37	36	41	62	117	124	128
	15	14	13	13	14	14	43	47	55
CWIP	0	0	0	0	0	7	1	1	2
Investments	3	3	0	1	0	6	6	6	0
	11	12	24	23	26	35	67	70	71
Total Assets	29	29	37	36	41	62	117	124	128

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	2	2	3	1	1	-1	-16	-1
	-2	0	-0	-0	-2	-13	-22	3
	-1	-2	-2	-1	2	14	47	-5
Net Cash Flow	-1	-0	1	-0	1	-1	9	-3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	32	34	71	67	65	59	47	75
Inventory Days	58	60	66	61	54	71	118	119
Days Payable	20	24	45	49	32	39	36	44
Cash Conversion Cycle	70	70	91	79	87	91	128	150
Working Capital Days	63	61	127	115	116	113	159	165
ROCE %		7%		7%	9%	15%	8%	4%

Shareholding Pattern

Numbers in percentages

7 Recently

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	60.46%	60.46%	60.46%	60.46%	60.46%	60.46%	60.46%	60.46%
	11.80%	6.55%	4.19%	3.58%	3.15%	3.63%	3.64%	3.63%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.04%
	27.73%	33.00%	35.34%	35.96%	36.40%	35.91%	35.91%	35.86%
No. of Shareholders	11,023	9,314	8,503	7,707	7,897	7,502	8,032	7,435

	Mar 2023	Mar 2024	Dec 2024
	60.46%	60.46%	60.46%
	11.80%	3.15%	3.63%
	0.00%	0.00%	0.04%
	27.73%	36.40%	35.86%
No. of Shareholders	11,023	7,897	7,435

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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