---
title: "Kshitij Polyline Ltd (KSHITIJPOL) — Share Price, Financials & Analysis"
symbol: "KSHITIJPOL"
company: "Kshitij Polyline Ltd"
canonical: "https://tapetide.com/stocks/KSHITIJPOL"
isin: "INE013801027"
nse_symbol: "KSHITIJPOL"
sector: "Consumer Goods"
industry: "Stationary"
market_cap_cr: 74.28
generated_at: "2026-09-13T18:22:41.964Z"
---

# Kshitij Polyline Ltd (KSHITIJPOL)

Canonical page: https://tapetide.com/stocks/KSHITIJPOL

## Company

- **NSE Symbol:** KSHITIJPOL
- **ISIN:** INE013801027
- **Sector:** Consumer Goods
- **Industry:** Stationary
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Listed Since:** 2022-07-27
- **Face Value:** ₹2
- **F&O Eligible:** No
- **Website:** kshitijpolyline.com

## About

Incorporated in 2008, Kshitij Polyline Ltd is a manufacturer of plastic sheets and films.[1]

## Latest Price

- **Price:** ₹3.48
- **Change:** +0.05 (+1.46%)
- **Open:** ₹3.32
- **Day High:** ₹3.57
- **Day Low:** ₹3.32
- **Previous Close:** ₹3.43
- **Volume:** 1531366
- **As Of:** 2026-09-11T10:23:47+00:00

## Key Fundamentals

Observed at 2026-09-11T04:42:53.040013Z.

- **Market Cap:** ₹74.28 Cr
- **Classification:** Microcap
- **P/E (reported):** 22.9
- **P/E (TTM):** 19.33
- **EPS (TTM):** ₹0.18
- **Book Value:** ₹3.74
- **Price to Book:** 0.92
- **Dividend Yield:** 0%
- **ROE:** -23.68%
- **ROCE:** -16.19%
- **Debt to Equity:** 0.29
- **Revenue (yearly):** ₹44.75 Cr
- **Net Income:** ₹3.97 Cr
- **EBITDA:** ₹5.82 Cr
- **52-Week High:** ₹7.38
- **52-Week Low:** ₹1.93
- **RSI (14):** 58.85

## Tapetide Score

- **Score:** 53 / 100
- **Score date:** 2026-09-04
- **Archetype:** Trend Ahead of Fundamentals
- **What it means:** The price trend is running ahead of what the financials currently support. Moves like this depend on the fundamentals catching up; check what would have to be true for that.
- **Pillar profile:** Quality: Weak · Valuation: Expensive · Momentum: Rising
- **Percentile:** 61 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 56.69 | 9% |
| growth | 89.41 | 9% |
| momentum | 85.24 | 12% |
| ownership | 50 | 24% |
| quality | 32.89 | 22% |
| valuation | 49.47 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Stock is trading at 1.20 times its book value
- Company is expected to give good quarter

### Weaknesses

- Company has a low return on equity of -6.71% over last 3 years.
- Earnings include an other income of Rs.2.69 Cr.
- Working capital days have increased from 189 days to 342 days

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -8.28% | -579.53% | -153.21% |
| ebitda margin growth | -56.1% | -216% | 44.02% | 27.7% |
| net income growth | -77.27% | -145.63% | 112% | 892.5% |
| revenue growth | 11.11% | 2.17% | 10% | 13% |
| roce | -61.46% | -235.14% | -301.62% | 3.8% |
| roe | -78.34% | -397.86% | -4.71% | — |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 10.1 | 8.23 | 6.73 | 6.37 | 7.27 | 7.96 | 8.98 | 9.1 | 11.97 | 10.54 | 13.14 | 14.34 |
| Expenses | 10.75 | 11 | 6.51 | 5.83 | 9.83 | 8.95 | 13.32 | 8.31 | 11.34 | 9.82 | 9.37 | 13.16 |
| Operating Profit | -0.65 | -2.77 | 0.22 | 0.54 | -2.56 | -0.99 | -4.34 | 0.79 | 0.63 | 0.72 | 3.77 | 1.18 |
| OPM % | -6.44 | -33.66 | 3.27 | 8.48 | -35.21 | -12.44 | -48.33 | 8.68 | 5.26 | 6.83 | 28.69 | 8.23 |
| Other Income | 0.06 | 5.58 | 0.05 | 0.07 | 0.18 | 0.92 | 0.62 | 0.5 | 0.86 | 0.62 | 0.34 | 0.87 |
| Interest | 0.5 | 0.3 | 0.56 | 0.08 | 0.92 | 0.58 | 0.67 | 0.46 | 0.47 | 0.27 | 0.25 | 0.56 |
| Depreciation | 0.25 | 0.26 | 0.43 | 0.22 | 0.15 | 0.36 | 0.82 | 0.5 | 0.66 | 0.57 | 1.2 | 0.67 |
| Profit before tax | -1.34 | 2.25 | -0.72 | 0.31 | -3.45 | -1.01 | -5.21 | 0.33 | 0.36 | 0.5 | 2.66 | 0.82 |
| Tax % | 1.49 | 0.89 | 0 | 25.81 | -2.32 | 0 | -3.26 | 0 | 0 | 0 | 15.79 | 0 |
| Net Profit | -1.35 | 2.24 | -0.72 | 0.23 | -3.37 | -1.01 | -5.05 | 0.33 | 0.36 | 0.5 | 2.24 | 0.82 |
| EPS in Rs | -0.11 | 0.18 | -0.06 | 0.02 | -0.27 | -0.08 | -0.41 | 0.03 | 0.02 | 0.02 | 0.1 | 0.04 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 27.08 | 35.88 | 31.8 | 24.25 | 39.04 | 33.86 | 34.18 | 30.58 | 44.75 | 49.99 |
| Expenses | 23.51 | 31.62 | 28.27 | 21.32 | 35.28 | 30.46 | 37.5 | 37.95 | 38.88 | 43.69 |
| Operating Profit | 3.57 | 4.26 | 3.53 | 2.93 | 3.76 | 3.4 | -3.32 | -7.37 | 5.87 | 6.3 |
| OPM % | 13.18 | 11.87 | 11.1 | 12.08 | 9.63 | 10.04 | -9.71 | -24.1 | 13.12 | 12.6 |
| Other Income | 0.28 | 0.37 | 0.03 | 0.01 | 0.04 | 0.11 | 5.76 | 1.8 | 2.17 | 2.69 |
| Interest | 1.56 | 2.14 | 1.83 | 1.75 | 2.08 | 1.63 | 1.78 | 2.25 | 1.46 | 1.55 |
| Depreciation | 0.8 | 0.92 | 0.99 | 1.04 | 1.1 | 1.28 | 1.17 | 1.66 | 2.61 | 3.1 |
| Profit before tax | 1.49 | 1.57 | 0.74 | 0.15 | 0.62 | 0.6 | -0.51 | -9.48 | 3.97 | 4.34 |
| Tax % | 29.53 | 45.22 | 28.38 | 93.33 | 33.87 | 40 | 9.8 | -1.79 | 10.58 | — |
| Net Profit | 1.06 | 0.86 | 0.54 | 0 | 0.42 | 0.37 | -0.56 | -9.3 | 3.55 | 3.92 |
| EPS in Rs | 0.14 | 0.07 | 0.04 | 0 | 0.03 | 0.03 | -0.04 | -0.75 | 0.16 | 0.18 |
| Dividend Payout % | 0 | 0 | 0 | — | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 5.3 | 8.68 | 8.68 | 8.68 | 10.13 | 10.13 | 10.13 | 17.8 | 30.85 |
| Reserves | 3.32 | 8.78 | 9.31 | 9.32 | 8.28 | 12.25 | 7.99 | 15.58 | 31.89 |
| Borrowings | 11.47 | 14.14 | 15.73 | 16.43 | 17.27 | 21.86 | 27.37 | 14.44 | 18.34 |
| Other Liabilities | 4.68 | 4 | 1.5 | 4.23 | 4.91 | 5.01 | 4.93 | 4.95 | 7.11 |
| Total Liabilities | 24.77 | 35.6 | 35.22 | 38.66 | 40.59 | 49.25 | 50.42 | 52.77 | 88.19 |
| Fixed Assets | 6.03 | 6.07 | 10.6 | 10.52 | 11.16 | 11.3 | 10.37 | 10.28 | 16.99 |
| CWIP | 0 | 1.2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0.01 | 0 | 0 | 0 | 0 | 0.1 | 2.22 | 2.22 | 2.27 |
| Other Assets | 18.73 | 28.33 | 24.62 | 28.14 | 29.43 | 37.85 | 37.83 | 40.27 | 68.93 |
| Total Assets | 24.77 | 35.6 | 35.22 | 38.66 | 40.59 | 49.25 | 50.42 | 52.77 | 88.19 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0.48 | -4.51 | 3.6 | 2.31 | 3.89 | -1.27 | -3.2 | -10.43 | -0.9 |
| Cash from Investing Activity | -1.34 | -3.43 | -2.77 | -1.78 | -2.55 | -4.51 | -2.12 | -0.21 | -27.39 |
| Cash from Financing Activity | 0.86 | 8.34 | -0.83 | -0.18 | -1.91 | 8.76 | 2.18 | 10.75 | 28.31 |
| Net Cash Flow | 0 | 0.39 | 0 | 0.36 | -0.57 | 2.98 | -3.14 | 0.12 | 0.02 |
| Free Cash Flow | -0.8 | -6.67 | -0.72 | 1.35 | 2.15 | -3.48 | -3.2 | -12 | -10.22 |
| CFO/OP | 18 | -96 | 105 | 80 | 106 | -32 | 95 | 142 | -15 |

### Ratios

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 117.13 | 99.29 | 103.3 | 143.44 | 56.75 | 62.74 | 26.06 | 58.96 | 48.78 |
| Inventory Days | 145.42 | 144.3 | 185.78 | 284.04 | 188.99 | 253.97 | 187.63 | 107.74 | 186.35 |
| Days Payable | 70.48 | 39.02 | 13.61 | 72.82 | 49.62 | 48.19 | 34.69 | 22.54 | 55.41 |
| Cash Conversion Cycle | 192.07 | 204.57 | 275.47 | 354.65 | 196.13 | 268.52 | 178.99 | 144.16 | 179.72 |
| Working Capital Days | 71.17 | 107.83 | 111.34 | 152.47 | 91.34 | 78.26 | 20.61 | 205.06 | 342.16 |
| ROCE % | — | 14.35 | 7.87 | 5.58 | 7.7 | 5.58 | 2.83 | -15.5 | 8.43 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 28.76% | 0.64% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.16% | 0.16% | 0.16% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 66.33% | 84.66% | 83.55% | 85.7% | 89.16% | 95.87% | 96.01% | 96.02% | 75.95% | 75.97% | 75.19% | 87.17% |
| Others | 4.9% | 14.7% | 16.45% | 14.3% | 10.84% | 4.13% | 3.99% | 3.98% | 24.05% | 23.86% | 24.64% | 12.67% |
| No. of Shareholders | 41625 | 49628 | 46606 | 50530 | 75556 | 89697 | 85972 | 83095 | 80268 | 77649 | 75465 | 103384 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 11 / 7 / 1

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 3.27 | Buy |
| EMA (10) | 3.32 | Buy |
| SMA (20) | 3.11 | Buy |
| EMA (20) | 3.2 | Buy |
| SMA (50) | 3.01 | Buy |
| EMA (50) | 3.26 | Buy |
| SMA (100) | 3.78 | Sell |
| EMA (100) | 3.36 | Buy |
| SMA (200) | 3.11 | Buy |
| EMA (200) | 3.31 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 61.26 | Neutral |
| MACD (12,26,9) | 0.11 | Buy |
| Stochastic (14,3,3) | 67.86 | Neutral |
| ADX (14) | 22.56 | Neutral |
| Williams %R (14) | -30.77 | Neutral |
| ATR (14) | 0.2 | High Volatility |
| ROC (12) | 11.9 | Buy |
| Stoch RSI (14) | 72.89 | Neutral |
| UO (7,14,28) | 62.22 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Sep - Exchange has sought clarification from Kshitij Polyline Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. On … | [Clarification - Financial Results 9 Sep - Exchange has sought clarification from Kshitij Polyline Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. On …](https://www.nseindia.com/get-quotes/equity?symbol=KSHITIJPOL) |
| 12 Sep - Rights issue allotment completed; 5.99 crore shares allotted, trading expected on NSE from Sept 15, 2026. | [Copy of Newspaper Publication 12 Sep - Rights issue allotment completed; 5.99 crore shares allotted, trading expected on NSE from Sept 15, 2026.](https://nsearchives.nseindia.com/corporate/KSHITIJPOL_12092026144208_Covering_compressed.pdf) |

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-10 | [Resignation](https://nsearchives.nseindia.com/corporate/KSHITIJPOL_10092026185313_Covering_Reg_30_Resignation_Final__1_.pdf) |
| 2026-09-05 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/KSHITIJPOL_05092026135328_Newspaper_adv_SD.pdf) |
| 2026-09-04 | [Appointment](https://nsearchives.nseindia.com/corporate/KSHITIJPOL_04092026124757_Outcome__SD_1_.pdf) |
| 2026-09-04 | [Updates](https://nsearchives.nseindia.com/corporate/KSHITIJPOL_04092026220143_Covering_final_SD.pdf) |
| 2026-09-04 | [Shareholders meeting](https://nsearchives.nseindia.com/corporate/KSHITIJPOL_04092026214925_Notice_SD.pdf) |
| 2026-08-31 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/KSHITIJPOL_31082026140022_NP.pdf) |
| 2026-08-29 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/KSHITIJPOL_29082026210051_Covering_merged__1_.pdf) |
| 2026-08-29 | [General Updates](https://nsearchives.nseindia.com/corporate/KSHITIJPOL_29082026172344_Covering_Revised_Corrigendum.pdf) |
| 2026-08-24 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/KSHITIJPOL_24082026143654_Newspaper.pdf) |
| 2026-08-22 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/KSHITIJPOL_22082026141424_Regulation_47.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-09-10 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/KSHITIJPOL_10092026204424_BM_Outcome.pdf) |
| 2026-09-04 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/KSHITIJPOL_04092026204519_Outcome.pdf) |
| 2026-08-29 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/KSHITIJPOL_29082026172044_BM_Outcome.pdf) |
| 2026-08-13 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/KSHITIJPOL_13082026185042_Outcome.pdf) |
| 2026-05-08 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/KSHITIJPOL_08052026174015_Outcome_of_BM.pdf) |
| 2026-04-24 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/KSHITIJPOL_24042026225746_organized_Signed__1_.pdf) |
| 2026-02-11 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/KSHITIJPOL_11022026202102_KPL_BM_Outcome_Dec_2025_s.pdf) |
| 2025-11-14 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/KSHITIJPOL_14112025222858_Outcome_BM_14-11-2025-FINAL--QTR-2__1_.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/AR_31461_KSHITIJPOL_2025_2026_A_45457410_04092026215700.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/AR_28655_KSHITIJPOL_2024_2025_A_7252108_05092025192444.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/AR_25773_KSHITIJPOL_2023_2024_04092024234554.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/AR_23471_KSHITIJPOL_2022_2023_05092023002921_09052023070002.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/AR_20643_KSHITIJPOL_2021_2022_06082022172925_08062022180007.zip) |
| from nse | [Annual Report 2021 from nse](https://archives.nseindia.com/annual_reports/SME_AR_18407_KSHITIJPOL_2020_2021_15072021172032_15072021180006.zip) |
| from nse | [Annual Report 2020 from nse](https://archives.nseindia.com/annual_reports/SME_AR_17804_KSHITIJPOL_2019_2020_11112020141212_17112020113839.zip) |
| from nse | [Annual Report 2019 from nse](https://archives.nseindia.com/annual_reports/SME_AR_15197_KSHITIJPOL_2018_2019_12082019191302_12082019200004.zip) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:22:41.964Z.