---
title: "SPP Polymer Ltd (SPPPOLY) — Share Price, Financials & Analysis"
symbol: "SPPPOLY"
company: "SPP Polymer Ltd"
canonical: "https://tapetide.com/stocks/SPPPOLY"
isin: "INE0QR801013"
nse_symbol: "SPPPOLY"
sector: "Industrials"
industry: "Industrial Products"
market_cap_cr: 17.32
generated_at: "2026-09-13T18:26:24.591Z"
---

# SPP Polymer Ltd (SPPPOLY)

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

## Company

- **NSE Symbol:** SPPPOLY
- **ISIN:** INE0QR801013
- **Sector:** Industrials
- **Industry:** Industrial Products
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2024-09-17
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** spppolymer.com

## About

Incorporated in 2004, SPP Polymers Ltd manufactures woven and non-woven fabrics and bags[1]

## Latest Price

- **Price:** ₹11.75
- **Change:** +0.5 (+4.44%)
- **Open:** ₹11.75
- **Day High:** ₹11.75
- **Day Low:** ₹11.75
- **Previous Close:** ₹11.25
- **Volume:** 2000
- **As Of:** 2026-09-11T09:27:43+00:00

## Key Fundamentals

Observed at 2026-09-11T04:39:07.591907Z.

- **Market Cap:** ₹17.32 Cr
- **Classification:** SME
- **P/E (reported):** -4.2
- **Book Value:** ₹29.98
- **Price to Book:** 0.38
- **Dividend Yield:** 4.44%
- **ROE:** 2.2%
- **ROCE:** 7.04%
- **Debt to Equity:** 0.28
- **Revenue (yearly):** ₹110.67 Cr
- **Net Income:** ₹-4.18 Cr
- **EBITDA:** ₹-2.6 Cr
- **52-Week High:** ₹18.15
- **52-Week Low:** ₹10.3
- **RSI (14):** 40.25

## Tapetide Score

- **Score:** 51 / 100
- **Score date:** 2026-09-02
- **Archetype:** Cheap but Weak
- **What it means:** A low multiple sitting on weak financials. Worth establishing what the market is discounting before treating the low valuation as an opportunity — weak fundamentals often justify it.
- **Pillar profile:** Quality: Weak · Valuation: Cheap · Momentum: Falling
- **Percentile:** 52 (of 4468 scored stocks)
- **Confidence:** 84%
- **Data coverage:** 67%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 40.15 | 9% |
| growth | 40.02 | 9% |
| momentum | 39.88 | 12% |
| ownership | 50 | 24% |
| quality | 37.78 | 22% |
| valuation | 84.36 | 24% |

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

## Key Insights

### Strengths

- Stock is trading at 0.39 times its book value

### Weaknesses

- Company has low interest coverage ratio.
- Company has a low return on equity of -1.83% over last 3 years.
- Debtor days have increased from 62.1 to 75.0 days.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | -256.53% | -358.68% | -319.42% |
| ebitda margin growth | -134.13% | -126.08% | -190.51% |
| net income growth | -480% | -518% | — |
| revenue growth | 1.63% | 19% | 11% |
| roce | -42.3% | 16.56% | 8.55% |
| roe | -46.47% | 2.85% | -71.87% |

## Financial Statements

### Quarterly Results

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

| Item | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Sales | 51 | 54 | 54 | 54 | 57 |
| Expenses | 48 | 50 | 51 | 54 | 60 |
| Operating Profit | 3 | 4 | 2 | 0 | -3 |
| OPM % | 6 | 7 | 3.8 | 0.2 | -4.8 |
| Other Income | 2 | 1 | 1 | 1 | 2 |
| Interest | 1 | 1 | 0 | 0 | 1 |
| Depreciation | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | 2 | 2 | 0 | -1 | -3 |
| Tax % | 0 | 32 | 76 | 0 | -1 |
| Net Profit | 2 | 1 | 0 | -1 | -3 |
| EPS in Rs | 1.49 | 0.75 | 0.04 | -0.62 | -2.08 |

### Profit & Loss

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 59 | 66 | 80 | 66 | 92 | 108 | 111 |
| Expenses | 56 | 63 | 79 | 63 | 86 | 102 | 113 |
| Operating Profit | 2 | 2 | 2 | 3 | 6 | 6 | -3 |
| OPM % | 3.7 | 3.6 | 1.9 | 4 | 7 | 6 | -2.4 |
| Other Income | 0 | 0 | 0 | 1 | 2 | 1 | 3 |
| Interest | 1 | 1 | 1 | 1 | 3 | 2 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 4 | 4 | 3 |
| Profit before tax | 1 | 1 | 0 | 1 | 1 | 2 | -4 |
| Tax % | 31 | 17 | 32 | 47 | 27 | 43 | 0 |
| Net Profit | 1 | 1 | 0 | 1 | 1 | 1 | -4 |
| EPS in Rs | — | — | — | 1.92 | 0.93 | 0.73 | -2.7 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 68 | 0 |

### Balance Sheet

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 2 | 2 | 3 | 3 | 11 | 15 | 15 |
| Reserves | 11 | 12 | 17 | 22 | 14 | 36 | 31 |
| Borrowings | 8 | 5 | 13 | 22 | 19 | 8 | 13 |
| Other Liabilities | 4 | 4 | 6 | 8 | 27 | 22 | 23 |
| Total Liabilities | 25 | 22 | 38 | 54 | 71 | 81 | 82 |
| Fixed Assets | 6 | 6 | 7 | 27 | 24 | 23 | 20 |
| CWIP | 0 | 0 | 4 | 0 | 0 | 1 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 19 | 16 | 27 | 27 | 46 | 57 | 61 |
| Total Assets | 25 | 22 | 38 | 54 | 71 | 81 | 82 |

### Cash Flow

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | — | 4 | -6 | 4 | 6 | -10 | 2 |
| Cash from Investing Activity | — | 0 | -6 | -17 | -2 | -5 | 0 |
| Cash from Financing Activity | — | -4 | 13 | 12 | -5 | 15 | -2 |
| Net Cash Flow | — | 0 | 0 | 0 | -1 | 0 | 0 |
| Free Cash Flow | — | 4 | -13 | -14 | 5 | -12 | 1 |
| CFO/OP | — | 200 | -397 | 149 | 105 | -158 | -95 |

### Ratios

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 44 | 54 | 46 | 43 | 56 | 55 | 75 |
| Inventory Days | 64 | 29 | 53 | 71 | 129 | 133 | 118 |
| Days Payable | 16 | 12 | 24 | 41 | 124 | 86 | 81 |
| Cash Conversion Cycle | 93 | 70 | 76 | 73 | 61 | 102 | 112 |
| Working Capital Days | 31 | 35 | 29 | 34 | 30 | 81 | 73 |
| ROCE % | — | 9 | 4 | 5 | 9 | 7 | -6 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Promoters | 94.99% | 67.08% | 67.08% | 67.08% | 67.08% |
| FIIs | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% |
| Public | 0% | 28.76% | 30.31% | 30.7% | 30.87% |
| Others | 5.01% | 4.16% | 2.61% | 2.22% | 2.05% |
| No. of Shareholders | 14 | 1857 | 1463 | 1382 | 1294 |

## Technical Indicators

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

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 6 / 11

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 12.06 | Sell |
| EMA (10) | 11.93 | Sell |
| SMA (20) | 12.04 | Sell |
| EMA (20) | 12.12 | Sell |
| SMA (50) | 12.64 | Sell |
| EMA (50) | 12.57 | Sell |
| SMA (100) | 13.27 | Sell |
| EMA (100) | 13.37 | Sell |
| SMA (200) | 14.99 | Sell |
| EMA (200) | 15.63 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 45.44 | Neutral |
| MACD (12,26,9) | -0.25 | Sell |
| Stochastic (14,3,3) | 14.71 | Buy |
| ADX (14) | 29.29 | Buy |
| Williams %R (14) | -70.59 | Neutral |
| ATR (14) | 0.5 | High Volatility |
| ROC (12) | 0 | Neutral |
| Stoch RSI (14) | 46.59 | Neutral |
| UO (7,14,28) | 51.08 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 7 Jul - 08-Apr-2026 disclosure: promoters confirm no new encumbrances during FY2026. | [Disclosure under SEBI Takeover Regulations 7 Jul - 08-Apr-2026 disclosure: promoters confirm no new encumbrances during FY2026.](https://nsearchives.nseindia.com/corporate/team_sandeshc_02072026123728_29.pdf) |
| 7 February 2026 - SPP Polymer Limited has informed regarding voting results of Extraordinary General Meeting held on February 06, 2026 | [Shareholders meeting 7 February 2026 - SPP Polymer Limited has informed regarding voting results of Extraordinary General Meeting held on February 06, 2026](https://nsearchives.nseindia.com/corporate/SPPPOLYMER_07022026223558_Voting_Result.pdf) |
| 7 February 2026 - EGM on 06 Feb 2026 approved registered office state change and cost auditor; 8,011,868 votes in favour. | [Shareholders meeting 7 February 2026 - EGM on 06 Feb 2026 approved registered office state change and cost auditor; 8,011,868 votes in favour.](https://nsearchives.nseindia.com/corporate/SPPPOLYMER_07022026223010_SPP_Scrutinizer_Report.pdf) |
| 6 February 2026 - EGM approved shifting registered office to Udham Singh Nagar, Uttarakhand; ratified cost auditor remuneration for FY ending 31 March 2026. | [Shareholders meeting 6 February 2026 - EGM approved shifting registered office to Udham Singh Nagar, Uttarakhand; ratified cost auditor remuneration for FY ending 31 March 2026.](https://nsearchives.nseindia.com/corporate/SPPPOLYMER_06022026175649_Proceeding_of_EGM__1_.pdf) |
| 5 Sep - Newspaper ads published for AGM on 26 September 2026 at 11:00 a.m. via VC. | [Copy of Newspaper Publication 5 Sep - Newspaper ads published for AGM on 26 September 2026 at 11:00 a.m. via VC.](https://nsearchives.nseindia.com/corporate/SPPPOLYMER_05092026152121_NewspaperAd.pdf) |
| 4 Sep - SPP Polymer issued FY26 annual report and AGM notice for 26 September 2026; FY26 net loss ₹416.26 lakh. | [Shareholders meeting 4 Sep - SPP Polymer issued FY26 annual report and AGM notice for 26 September 2026; FY26 net loss ₹416.26 lakh.](https://nsearchives.nseindia.com/corporate/SPPPOLYMER_04092026181043_Annual_Report_Intimation.pdf) |
| 30 March 2026 - Trading window closed Apr 1, 2026 until 48 hours after FY/Half-year results for year ending Mar 31, 2026. | [Trading Window 30 March 2026 - Trading window closed Apr 1, 2026 until 48 hours after FY/Half-year results for year ending Mar 31, 2026.](https://nsearchives.nseindia.com/corporate/SPPPOLYMER_30032026184648_Intimation_for_closure_of_trading_window.pdf) |
| 29 May 2026 - SPP Polymer clarifies secretarial compliance provisions are not applicable as an SME-listed company. | [Updates 29 May 2026 - SPP Polymer clarifies secretarial compliance provisions are not applicable as an SME-listed company.](https://nsearchives.nseindia.com/corporate/SPPPOLYMER_29052026224954_Intimation__1_.pdf) |
| 29 May 2026 - Filed FY2026 PIT compliance certificate; SDD in place, five UPSI events captured, no noncompliance. | [Structural Digital Database 29 May 2026 - Filed FY2026 PIT compliance certificate; SDD in place, five UPSI events captured, no noncompliance.](https://nsearchives.nseindia.com/corporate/SPPPOLYMER_29052026224507_Intimation_SDD_Compliance_Certificate.pdf) |
| 26 March 2026 - Published Form INC-26 notice on March 26, 2026 inviting objections to shift registered office from Delhi to Uttarakhand. | [Copy of Newspaper Publication 26 March 2026 - Published Form INC-26 notice on March 26, 2026 inviting objections to shift registered office from Delhi to Uttarakhand.](https://nsearchives.nseindia.com/corporate/SPPPOLYMER_26032026184230_Intimation-4.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31407_SPPPOLY_2025_2026_A_2603826_04092026180758.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_27548_SPPPOLY_2024_2025_A_21082025162420.pdf) |

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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 2026-09-13T18:26:24.591Z.