BSE: 0 | NSE: POLYSIL | Plastic Products | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Polysil Irrigation Systems Ltd is a below average quality company.
The key valuation ratios of Polysil Irrigation Systems Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Polysil Irrigation Systems Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 8.9% | 8.2% | 13% | 13.6% | - |
| Value Creation Index ⓘ | -0.4 | -0.4 | -0.1 | 0.0 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||
| Sales ⓘ | 54.6 | 37.6 | 43.9 | 44.5 | 44 |
| Sales YoY Gr. | - | -31.1% | 16.6% | 1.3% | - |
| Adj EPS ⓘ | 0.7 | 0.4 | 0.9 | 1.8 | 1.8 |
| YoY Gr. | - | -47.8% | 154.3% | 105.6% | - |
| BVPS (₹) ⓘ | 14 | 14.4 | 15.5 | 22 | 22 |
| Adj Net Profit ⓘ | 0.6 | 0.3 | 0.9 | 2.1 | 2 |
| Cash Flow from Ops. ⓘ | -0.4 | -0.4 | 2 | -6.3 | - |
| Debt/CF from Ops. ⓘ | -26.1 | -36.3 | 7.8 | -2.7 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | -6.6% | 1.3% | ||||
| Adj EPS ⓘ | NA | NA | 39.8% | 105.6% | ||||
| BVPSⓘ | NA | NA | 16.3% | 41.9% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | 4.8 | 2.5 | 6 | 10.3 | 8.3 |
| Op. Profit Mgn % ⓘ | 5.6 | 7.6 | 9.9 | 12.5 | NAN |
| Net Profit Mgn % ⓘ | 1.2 | 0.9 | 2 | 4.7 | 4.7 |
| Debt to Equity ⓘ | 0.8 | 1.1 | 1 | 0.7 | - |
| Working Cap Days ⓘ | 0 | 328 | 341 | 466 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 198 | 206 | 269 | 0 |
Return on Equity has increased versus last 3 years average to 8.30%
Net Profit is growing at healthy rate in last 3 years 39.78%
Debt to equity has declined versus last 3 years average to 0.67
Sales growth has been subdued in last 3 years -6.61%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 1.8 | - |
| TTM Sales (₹ Cr.) | 44.5 | - |
| BVPS (₹.) ⓘ | 22 | - |
| Reserves (₹ Cr.) ⓘ | 14 | - |
| P/BV ⓘ | 1.39 | - |
| PE ⓘ | 16.70 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 34.6 |
| Equity (₹ Cr.) | 11.3 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 39.5 |
| Pledged * | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Sales | 54.59 | 37.62 | 43.88 | 44.46 |
| Operating Expenses ⓘ | 51.53 | 34.77 | 39.54 | 38.90 |
| Manufacturing Costs | 2.50 | 1.78 | 2.07 | 2.04 |
| Material Costs | 29.13 | 18.43 | 25.36 | 28.34 |
| Employee Cost | 7.50 | 8.30 | 5.57 | 4.03 |
| Other Costs ⓘ | 12.41 | 6.26 | 6.54 | 4.49 |
| Operating Profit ⓘ | 3.06 | 2.85 | 4.34 | 5.56 |
| Operating Profit Margin (%) | 5.6% | 7.6% | 9.9% | 12.5% |
| Other Income ⓘ | 0.13 | 0.05 | 0.06 | 0.10 |
| Interest ⓘ | 1.14 | 1.49 | 1.49 | 1.92 |
| Depreciation ⓘ | 1.01 | 0.73 | 0.53 | 0.72 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 1.04 | 0.68 | 2.38 | 3.02 |
| Tax ⓘ | 0.39 | 0.35 | 1.52 | 0.95 |
| Profit After Tax | 0.65 | 0.34 | 0.87 | 2.07 |
| PAT Margin (%) | 1.2% | 0.9% | 2.0% | 4.7% |
| Adjusted EPS (₹) | 0.7 | 0.4 | 0.9 | 1.8 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 13.38 | 13.72 | 15.36 | 24.97 | ||||||
| Share Capital ⓘ | 0.46 | 0.46 | 9.90 | 11.34 | ||||||
| Reserves ⓘ | 12.93 | 13.27 | 5.46 | 13.63 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 10 | 14.17 | 14.60 | 15.98 | ||||||
| Long Term Debt | 1.32 | 2.10 | 1.70 | 1.16 | ||||||
| Short Term Debt | 8.68 | 12.07 | 12.90 | 14.82 | ||||||
| Trade Payables | 8.82 | 9.07 | 13.45 | 22.70 | ||||||
| Others Liabilities ⓘ | 9.58 | 9.20 | 11.91 | 14.84 | ||||||
| Total Liabilities ⓘ | 41.78 | 46.17 | 55.31 | 78.48 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 16.22 | 18.40 | 20.02 | 20.09 | ||||||
| Accumulated Depreciation | 9.41 | 10.14 | 10.67 | 11.39 | ||||||
| Net Fixed Assetsⓘ | 6.80 | 8.26 | 9.35 | 8.70 | ||||||
| CWIP ⓘ | 0 | 0 | 0 | 0 | ||||||
| Investmentsⓘ | 0 | 0 | 0 | 0 | ||||||
| Inventories | 11.70 | 12.11 | 13.94 | 16.11 | ||||||
| Trade Receivables | 18.13 | 21.70 | 28.11 | 47.51 | ||||||
| Cash Equivalents | 1.07 | 0.93 | 0.89 | 1.42 | ||||||
| Others Assetsⓘ | 4.08 | 3.16 | 3.03 | 4.74 | ||||||
| Total Assets ⓘ | 41.78 | 46.17 | 55.31 | 78.48 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -0.42 | -0.41 | 2 | -6.25 |
| PBT ⓘ | 1.04 | 0.68 | 2.38 | 3.02 |
| Adjustment ⓘ | 2.03 | 2.18 | 1.96 | 2.63 |
| Changes in Working Capital ⓘ | -3.24 | -3.09 | -1.7 | -11.07 |
| Tax Paid ⓘ | -0.26 | -0.19 | -0.64 | -0.84 |
| Cash Flow From Investing Activity ⓘ | -0.92 | -2.28 | -1.61 | -0.65 |
| Capex | -0.61 | -2.18 | -1.62 | -0.07 |
| Net Investments | 0 | 0 | -0.04 | -0.59 |
| Others ⓘ | -0.32 | -0.10 | 0.04 | 0.01 |
| Cash Flow From Financing Activityⓘ | 1.49 | 2.41 | -0.47 | 6.85 |
| Net Proceeds from Shares ⓘ | 0.16 | 0 | 0.50 | 7.54 |
| Net Proceeds from Borrowing ⓘ | 2.37 | 0.51 | -0.40 | -0.54 |
| Interest Paid ⓘ | -1.14 | -1.49 | -1.49 | -1.92 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 |
| Others ⓘ | 0.10 | 3.39 | 0.92 | 1.77 |
| Net Cash Flow ⓘ | 0.15 | -0.28 | -0.08 | -0.06 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 4.84 | 2.49 | 5.97 | 10.28 | ||||||
| ROCE (%) | 8.9 | 8.18 | 13.03 | 13.63 | ||||||
| Asset Turnover Ratio | 1.33 | 0.9 | 0.86 | 0.66 | ||||||
| PAT to CFO Conversion(x) | -0.65 | -1.21 | 2.3 | -3.02 | Working Capital Days | |||||
| Receivable Days | 119 | 185 | 207 | 310 | ||||||
| Inventory Days | 77 | 110 | 108 | 123 | ||||||
| Payable Days | 110 | 177 | 162 | 233 | ||||||
Polysil Irrigation Systems Limited was originally incorporated as a private company in the name and style of ‘Silvassa Poly-Tex Industries (India) Private Limited’ under the Companies Act, 1956 vide certificate of incorporation dated October 09, 1985 issued by the Registrar of Companies, Maharashtra. Subsequently, the name of the Company was changed to ‘Silvassa Pipes Private Limited’ pursuant to the special resolution passed by the Shareholders of the Company at the extra-ordinary general meeting held on June 6, 1996. The Registrar of Companies, Maharashtra, Mumbai issued a fresh certificate of incorporation dated July 11, 1996, upon change of the name of the Company. Further, the name of the Company was changed to ‘Polysil Irrigation Systems Private Limited’ pursuant to the special resolution passed by the Shareholders of the Company at the extra-ordinary ordinary general meeting held on November 8, 2010 and the Registrar of Companies, Maharashtra, Mumbai issued a fresh certificate of incorporation dated January 03, 2011, upon change of the name of the Company. The Company was then converted into a public limited company pursuant to the special resolution passed by the Shareholders of the Company at the extra-ordinary ordinary general meeting held on December 13, 2022 and consequently upon conversion, the name of the Company was changed to ‘Polysil Irrigation Systems Limited’ vide a fresh certificate of incorporation dated December 27, 2022 issued by the Registrar of Companies, Ahmedabad.
The company is a fully integrated player within the drip irrigation and sprinkler irrigation sectors, with presence in micro irrigation industry. Its products are reckoned to meet high quality standards and its brands are associated with providing value based irrigation solutions to its end customers and are subject to BIS standards. The company is engaged in manufacturing and sale of HDPE pipes, fittings and micro irrigation systems, such as drip irrigation system and sprinkler irrigation system, its components, accessories and allied products. As a manufacturer and seller of drip and sprinkler irrigation system its product range includes HDPE Pipes, pipe fittings and irrigation equipment’s, including disc filters, screen filters, hydro-cyclone filters, sand filters (gravel), compression fittings, valves (electrical and mechanicals), fertilizer tanks, Digital Controllers, Pressure Gauges, etc. Its sells these products under the brand ‘Polysil’.
It operates in the state of Gujarat, Tamil Nadu, Maharashtra, Andhra Pradesh, Karnataka, Madhya Pradesh, Uttar Pradesh, Rajasthan and Haryana. It operates in the State of Maharashtra, Madhya Pradesh and Rajasthan through its dealer / distributor network and in the State of Andhra Pradesh, Gujarat, Tamil Nadu, Haryana and Uttar Pradesh under institutional model. Its existing manufacturing unit is situated at Vadodara, Gujarat is equipped with requisite plant and machineries and other facilities. Its basic raw material includes HDPE, LLDPE and LDPE granules and it procures its raw materials based on market availability, pricing and quality from the domestic market and also from international market.
Business area of the company
The company is a fully integrated player within the drip irrigation and sprinkler irrigation sectors, with presence in micro irrigation industry. Its products are reckoned to meet high quality standards and its brand is associated with providing value based irrigation solutions to its end customers. The company is engaged in manufacturing and sale of HDPE pipes, fittings and micro irrigation systems, such as drip irrigation system and sprinkler irrigation system, its components, accessories and allied products.
Products of the company
History and milestones
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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