Polymac Thermoformers
Industrial Products
537573 BSE
Price unavailable
Close 25 Sep 2026 ₹11.05 −6.95 −38.6% since 13 Nov 2025
Start ₹18.00
Key Fundamentals
SMEIndustrial ProductsCapital GoodsPrice-based figures · TTM
- ROCE
- 2.03%
- Debt to Equity
- 0.43
- EPS (TTM)
- ₹0.50
- Book Value
- ₹22.36
- Market Cap
- —
- P/E (TTM)
- —
- P/B
- —
- ROE
- 0.09%
- Dividend Yield
- 0.00%
- EBITDA
- ₹0.00
- 52W High
- —
- 52W Low
- —
Key Insights
Strengths
1- Stock is trading at 0.49 times its book value
Weaknesses
5- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Promoter holding is low: 25.2%
- Company has a low return on equity of 1.14% over last 3 years.
- Debtor days have increased from 41.3 to 68.1 days.
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Bearish | 9 | 3 | 7 |
| Oscillators | Neutral | 3 | 3 | 3 |
| Moving Averages | Strong Bearish | 6 | 0 | 4 |
Oscillators
Neutral
Bearish
3
Neutral
3
Bullish
3
Overall
Bearish
Bearish
9
Neutral
3
Bullish
7
Moving Averages
Strong Bearish
Bearish
6
Neutral
0
Bullish
4
Key readings
- RSI (14)
- 53.22
- Neutral
- MACD (12,26,9)
- −0.48
- Bullish
- SMA (50)
- 13.05
- Bearish
- SMA (200)
- 16.55
- Bearish
As of , the latest day with price data, so these readings are not current.
Growth Rate
From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025.
Revenue
| 10Y | +24.39% |
|---|---|
| 5Y | +16.42% |
| 3Y | +14.27% |
| 1Y | +53.57% |
Net profit
| 10Y | −6.70% |
|---|---|
| 5Y | −38.10% |
| 3Y | −71.89% |
| 1Y | −75.00% |
Operating cash flow
| 10Y | Outflow widened by ₹1.27 Cr |
|---|---|
| 5Y | Outflow widened by ₹1.05 Cr |
| 3Y | Turned negative |
| 1Y | Turned negative |
Operating margin· change in pp
| 10Y | +96.72 pp |
|---|---|
| 5Y | +8.13 pp |
| 3Y | +11.56 pp |
| 1Y | +3.67 pp |
Trailing twelve months: Results are not reported for each of the last eight quarters, so there is no trailing-twelve-month figure.
Revenue by year
| Mar 2017 | ₹2.63 Cr |
|---|---|
| Mar 2018 | ₹3.91 Cr |
| Mar 2019 | ₹6.73 Cr |
| Mar 2020 | ₹5.24 Cr |
| Mar 2021 | ₹6.14 Cr |
| Mar 2022 | ₹7.18 Cr |
| Mar 2023 | ₹8.80 Cr |
| Mar 2024 | ₹14.54 Cr |
| Mar 2025 | ₹8.55 Cr |
| Mar 2026 | ₹13.13 Cr |
Net profit by year
| Mar 2017 | ₹0.23 Cr |
|---|---|
| Mar 2018 | −₹0.10 Cr |
| Mar 2019 | ₹0.11 Cr |
| Mar 2020 | −₹0.24 Cr |
| Mar 2021 | ₹0.11 Cr |
| Mar 2022 | ₹0.50 Cr |
| Mar 2023 | ₹0.45 Cr |
| Mar 2024 | ₹0.31 Cr |
| Mar 2025 | ₹0.04 Cr |
| Mar 2026 | ₹0.01 Cr |
Half-yearly Results
₹ Cr| Particulars | Mar 2020 | Sep 2020 | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2.3 | 1.3 | 4.84 | 3.1 | 4.08 | 3.61 | 5.19 | 8.37 | 6.18 | 3.87 | 4.7 | 4.44 | 8.7 |
| Expenses | 2.43 | 1.71 | 4.84 | 3.17 | 4.04 | 3.65 | 6.04 | 8.16 | 6.27 | 2.46 | 6.3 | 3.9 | 9.08 |
| Operating Profit | −0.13 | −0.41 | 0 | −0.07 | 0.04 | −0.04 | −0.85 | 0.21 | −0.09 | 1.41 | −1.6 | 0.54 | −0.38 |
| OPM % | −5.65% | −31.54% | 0% | −2.26% | 0.98% | −1.11% | −16.38% | 2.51% | −1.46% | 36.43% | −34.04% | 12.16% | −4.37% |
| Other Income | 0.29 | 0.15 | 0.64 | 0.35 | 0.71 | 1.08 | 0.73 | 0 | 0.67 | 0 | 0.63 | 0 | 0.31 |
| Interest | 0.07 | 0.05 | 0.05 | 0.05 | 0.2 | 0.07 | 0.07 | 0.07 | 0.1 | 0.28 | −0.11 | 0.09 | 0.11 |
| Depreciation | 0.07 | 0.05 | 0.05 | 0.05 | 0.08 | 0.09 | 0.09 | 0.1 | 0.1 | 0.08 | 0.11 | 0.11 | 0.11 |
| PBT | 0.02 | −0.36 | 0.54 | 0.18 | 0.47 | 0.88 | −0.28 | 0.04 | 0.38 | 1.05 | −0.97 | 0.34 | −0.29 |
| Tax % | 0% | 0% | 0% | 0% | 31.91% | 0% | 57.14% | 0% | 28.95% | 0% | 3.09% | 0% | 17.24% |
| Net Profit | 0.02 | −0.36 | 0.54 | 0.18 | 0.32 | 0.88 | −0.43 | 0.04 | 0.27 | 1.04 | −1 | 0.34 | −0.33 |
| EPS (₹) | 0.04 | −0.75 | 1.13 | 0.38 | 0.67 | 1.84 | −0.9 | 0.08 | 0.56 | 2.18 | −2.09 | 0.71 | −0.69 |
Profit & Loss
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1.47 | 1.48 | 2.63 | 3.91 | 6.73 | 5.24 | 6.14 | 7.18 | 8.8 | 14.54 | 8.55 | 13.13 |
| Expenses | 7.22 | 2.89 | 7 | 4.16 | 6.74 | 5.76 | 6.55 | 7.21 | 9.69 | 14.44 | 8.74 | 12.94 |
| Operating Profit | −5.75 | −1.41 | −4.37 | −0.25 | −0.01 | −0.52 | −0.41 | −0.03 | −0.89 | 0.1 | −0.19 | 0.19 |
| OPM % | −391.16% | −95.27% | −166.16% | −6.39% | −0.15% | −9.92% | −6.68% | −0.42% | −10.11% | 0.69% | −2.22% | 1.45% |
| Other Income | 6.04 | 1.62 | 4.94 | 0.28 | 0.29 | 0.54 | 0.81 | 1.06 | 1.81 | 0.67 | 0.63 | 0.28 |
| Interest | 0.05 | 0.05 | 0.06 | 0.04 | 0.06 | 0.12 | 0.1 | 0.25 | 0.14 | 0.16 | 0.17 | 0.2 |
| Depreciation | 0.15 | 0.14 | 0.2 | 0.09 | 0.09 | 0.12 | 0.1 | 0.13 | 0.17 | 0.19 | 0.2 | 0.21 |
| PBT | 0.09 | 0.02 | 0.31 | −0.1 | 0.13 | −0.22 | 0.2 | 0.65 | 0.61 | 0.42 | 0.07 | 0.06 |
| Tax % | 22.22% | 0% | 25.81% | 0% | 15.38% | 13.64% | 45% | 23.08% | 26.23% | 26.19% | 42.86% | 83.33% |
| Net Profit | 0.07 | 0.02 | 0.23 | −0.1 | 0.11 | −0.24 | 0.11 | 0.5 | 0.45 | 0.31 | 0.04 | 0.01 |
| EPS (₹) | 0.15 | 0.04 | 0.48 | −0.21 | 0.23 | −0.5 | 0.23 | 1.05 | 0.94 | 0.65 | 0.08 | 0.02 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4.78 | 4.78 | 4.78 | 4.78 | 4.78 | 4.78 | 4.78 | 4.78 | 4.78 | 4.78 | 4.78 | 4.78 |
| Reserves | 5.66 | 5.63 | 5.86 | 5.76 | 5.87 | 5.63 | 5.74 | 6.24 | 5.48 | 5.79 | 5.84 | 5.91 |
| Borrowings | 0.78 | 1.28 | 1.41 | 0.52 | 1.28 | 1.28 | 1.56 | 28.71 | 6.87 | 1.53 | 1.67 | 4.58 |
| Other Liabilities | 1.78 | 1.87 | 2.82 | 0.8 | 0.56 | 0.64 | 0.64 | 1.08 | 1.14 | 6.81 | 6.24 | 3.97 |
| Total Liabilities | 13 | 13.56 | 14.87 | 11.86 | 12.49 | 12.33 | 12.72 | 40.81 | 18.27 | 18.91 | 18.53 | 19.24 |
| Fixed Assets | 1.1 | 0.99 | 1.03 | 0.94 | 1.06 | 1.2 | 1.2 | 2 | 2.04 | 2.23 | 2.69 | 3.32 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0.63 | 0.54 | 1.62 | 1 | 0.05 | 0.22 | 0.88 | 1.03 | 0.69 | 0.77 | 0.78 | 0.79 |
| Other Assets | 11.27 | 12.03 | 12.22 | 9.92 | 11.38 | 10.91 | 10.64 | 37.78 | 15.54 | 15.91 | 15.06 | 15.13 |
| Total Assets | 13 | 13.56 | 14.87 | 11.86 | 12.49 | 12.33 | 12.72 | 40.81 | 18.27 | 18.91 | 18.53 | 19.24 |
Cash Flow
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 0.33 | −0.38 | 0.68 | −0.6 | −1.94 | 0.65 | −0.6 | −25.49 | 25.34 | −1.45 | 0.02 | −1.65 |
| Investing | 2.25 | −0.33 | −0.57 | −5.89 | 1.43 | −0.68 | 0.46 | −0.03 | 1.92 | 0.18 | −0.04 | −0.58 |
| Financing | −2.44 | 0.56 | −0.07 | 6.49 | 0.64 | −0.11 | 0.19 | 26.91 | −21.97 | −5.49 | −0.03 | 2.71 |
| Net Cash Flow | 0.14 | −0.15 | 0.04 | 0 | 0.13 | −0.14 | 0.05 | 1.39 | 5.29 | −6.76 | −0.06 | 0.48 |
| Free Cash Flow | 0.11 | −0.45 | 0.52 | −0.55 | −2.16 | 0.38 | −0.7 | −26.42 | 25.13 | −1.84 | −0.64 | −2.52 |
| CFO/OP | −6 | 32 | −15 | 240 | 18,600 | −131 | 124 | 84,867 | −2,847 | −1,320 | −11 | −868 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 17.38 | — | 83.27 | 53.21 | 80.81 | 36.22 | 52.91 | 74.73 | 32.77 | 38.41 | 17.5 | 68.11 |
| Inventory Days | 323 | 421 | 214 | 201 | 196 | 224 | 256 | 243 | 184 | 217 | 340 | 174 |
| Days Payable | 48.51 | 110 | 83.09 | 69.24 | 20.02 | 39.63 | 24.39 | 48.36 | 16.33 | 152 | 235 | 43.59 |
| Cash Conversion Cycle | 292 | — | 214 | 185 | 257 | 221 | 284 | 269 | 200 | 103 | 123 | 198 |
| Working Capital Days | 2,073 | 2,042 | 998 | 687 | 425 | 517 | 387 | 250 | 16.18 | 213 | 341 | 175 |
| ROCE % | 1.11% | 0.61% | 3.2% | −0.61% | 1.65% | −0.76% | 2.36% | 3.47% | 2.64% | 3.97% | 1.97% | 2.03% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Polymac Thermoformers insights
57 extracted metrics across FY13–FY26.
Documents
- General announcements 6 Oct 2026
Frequently Asked Questions about Polymac Thermoformers
What does Polymac Thermoformers Ltd do?
Incorporated in 1999, Polymac Thermoformers Ltd manufactures disposable plastic glasses, cups, and bowls, etc.
Where is Polymac Thermoformers Ltd (POLYMAC) listed?
Polymac Thermoformers Ltd trades under code 537573 on the BSE.
Which sector does Polymac Thermoformers Ltd belong to?
Polymac Thermoformers Ltd is classified under the Industrial Products sector, in the Plastic Products - Industrial industry.
What is the Return on Equity (ROE) of Polymac Thermoformers Ltd?
Polymac Thermoformers Ltd reported a return on equity of 0.09%. Its debt-to-equity ratio is 0.43.
Company Information
Incorporated in 1999, Polymac Thermoformers Ltd manufactures disposable plastic glasses, cups, and bowls, etc.
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