Is Sah Polymers a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Sah Polymers Ltd is a below average quality company .

Is Sah Polymers undervalued or overvalued?

The key valuation ratios of Sah Polymers Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone .

What is Sah Polymers share price return in the past 10 years?

Data is not available for this company

Is Sah Polymers a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Sah Polymers Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

Sah Polymers Ltd - Stock Valuation and Financial Performance

Name: Sah Polymers
Brand: Sah Polymers

BSE: 543743 | NSE: SAH | Plastic Products | Small Cap

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Sah Polymers Share Price

₹92.50 0.15 0.16%
as on 14-Nov'24 16:59

10 Year X-Ray of Sah Polymers:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	5.8%	-3.7%	6%	6.3%	7%	7%	8.6%	15.1%	7.9%	3.8%	-
Value Creation Index ⓘ	-0.6	-1.3	-0.6	-0.6	-0.5	-0.5	-0.4	0.1	-0.4	-0.7	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	43.3	42.6	36.3	35.2	45.5	49.1	55.1	75.7	82.5	101	110
Sales YoY Gr.	-	-1.8%	-14.7%	-3.2%	29.4%	7.9%	12.2%	37.5%	8.9%	22.2%	-
Adj EPS ⓘ	0.1	-1.1	0	-0.1	0.3	-0.1	0.7	2.4	0.9	0	0.3
YoY Gr.	-	-1008.3%	NA	-266.7%	NA	-146.7%	NA	227.4%	-62.8%	-100%	-
BVPS (₹) ⓘ	10.9	9.9	10	11.9	12.2	12.1	12.9	15.3	32.6	32.3	32.5
Adj Net Profit ⓘ	0.2	-1.6	0	-0.1	0.5	-0.2	1.1	3.7	2.3	0	1
Cash Flow from Ops. ⓘ	1.5	3.2	-1.4	-3.5	2.7	2.6	1.4	-1	-16.1	-0.6	-
Debt/CF from Ops. ⓘ	6.3	2.5	-6	-2.2	4.4	4	9.9	-29.7	-1.4	-50	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	9.8%	17.2%	22.3%	22.2%
Adj EPS ⓘ	-100%	-100%	-100%	-100%
BVPSⓘ	12.8%	21.6%	35.9%	-0.9%
Share Price	-	-	-	-16.1%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	1.1	-10.5	0.3	-0.5	2.5	-1.1	5.8	17	4.3	-0	0.8
Op. Profit Mgn % ⓘ	4.6	-1.6	2.5	3.6	6	4.2	6	8.7	7.3	4	3.3
Net Profit Mgn % ⓘ	0.4	-3.6	0.1	-0.2	1	-0.4	2.1	4.9	2.8	0	0.6
Debt to Equity ⓘ	0.6	0.6	0.6	0.4	0.6	0.6	0.7	1.2	0.3	0.3	0.1
Working Cap Days ⓘ	79	72	89	153	160	161	150	138	177	189	101
Cash Conv. Cycle ⓘ	52	44	50	84	78	75	72	68	86	101	52

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 22.31%

Debt to equity has declined versus last 3 years average to 0.34

Sales growth is good in last 4 quarters at 47.63%

Return on Equity has declined versus last 3 years average to 0.80%

Net Profit has been subdued in last 3 years -100.00%

Latest Financials - Sah Polymers Ltd.

	Standalone	Consolidated
TTM EPS (₹)	0.3	0.3
TTM Sales (₹ Cr.)	110	121
BVPS (₹.) ⓘ	32.5	34
Reserves (₹ Cr.) ⓘ	58	62
P/BV ⓘ	2.85	2.72
PE ⓘ	354.03	331.41

From the Market
52 Week Low / High (₹)	71.55 / 145.80
All Time Low / High (₹)	58.96 / 145.80
Market Cap (₹ Cr.)	239
Equity (₹ Cr.)	25.8
Face Value (₹)	10
Industry PE ⓘ	39.5

Management X-Ray of Sah Polymers:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Sah Polymers

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Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Sah Polymers

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	43	43	36	35	45	49	55	76	82	101
Operating Expenses ⓘ	42	43	35	34	43	47	52	69	76	97
Manufacturing Costs	5	7	6	5	6	7	7	6	9	20
Material Costs	33	33	25	25	32	33	39	54	55	63
Employee Cost	1	1	2	2	2	2	2	2	3	5
Other Costs ⓘ	2	2	3	2	2	5	4	7	9	9
Operating Profit ⓘ	2	-1	1	1	3	2	3	7	6	4
Operating Profit Margin (%)	4.1%	-1.6%	2.5%	3.6%	5.7%	4.2%	5.9%	8.7%	7.3%	4.0%
Other Income ⓘ	0	1	1	1	0	1	0	1	1	2
Interest ⓘ	1	1	1	1	1	2	1	1	2	3
Depreciation ⓘ	1	1	1	1	1	1	1	1	1	2
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Profit Before Tax ⓘ	0	-2	0	0	1	1	2	5	4	1
Tax ⓘ	0	-1	0	0	0	0	0	1	1	0
Profit After Tax	0	-1	0	0	0	0	1	4	3	1
PAT Margin (%)	0.0%	-3.3%	0.1%	0.8%	0.8%	0.6%	2.3%	5.3%	3.7%	0.7%
Adjusted EPS (₹)	0.0	-1.0	0.0	0.2	0.2	0.2	0.8	2.6	1.2	0.3
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	0%	0%	0%	42%	0%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	16	14	14	19	19	19	20	24	84	83
Share Capital ⓘ	14	14	14	16	16	16	16	16	26	26
Reserves ⓘ	1	0	0	3	3	3	4	8	58	58
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	9	8	8	7	11	10	13	28	20	26
Long Term Debt	3	3	1	1	0	0	1	1	8	7
Short Term Debt	7	4	6	6	11	10	12	27	12	19
Trade Payables	2	2	3	3	4	4	3	6	6	7
Others Liabilities ⓘ	3	2	3	3	3	2	4	4	7	7
Total Liabilities ⓘ	29	26	28	32	37	36	41	62	117	124
Fixed Assets
Gross Block	18	19	19	19	20	21	23	24	54	60
Accumulated Depreciation	5	5	6	6	7	8	9	9	11	13
Net Fixed Assetsⓘ	14	14	13	12	13	13	14	14	43	47
CWIP ⓘ	0	0	0	0	0	0	0	7	1	1
Investmentsⓘ	3	1	1	1	1	0	0	6	6	6
Inventories	5	4	7	8	6	6	6	11	18	20
Trade Receivables	4	3	3	4	9	9	10	12	11	21
Cash Equivalents	1	4	2	0	1	2	2	2	21	13
Others Assetsⓘ	2	1	2	6	7	7	8	11	18	17
Total Assets ⓘ	29	26	28	32	37	36	41	62	117	124

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	2	3	-1	-4	3	3	1	-1	-16	-1
PBT ⓘ	0	-2	0	0	1	1	2	5	4	1
Adjustment ⓘ	2	2	2	2	1	2	2	2	2	4
Changes in Working Capital ⓘ	-1	4	-3	-6	1	0	-2	-8	-22	-4
Tax Paid ⓘ	0	0	0	0	0	0	0	0	-1	-1
Cash Flow From Investing Activity ⓘ	0	2	0	0	0	-1	-2	-13	-24	-4
Capex	0	-1	0	0	-1	-1	-2	-1	-24	-6
Net Investments	0	3	0	0	0	0	0	0	0	0
Others ⓘ	0	0	0	0	1	0	0	-12	0	1
Cash Flow From Financing Activityⓘ	-2	-2	-1	2	-2	-2	1	14	47	-5
Net Proceeds from Shares ⓘ	0	0	0	1	0	0	0	0	66	0
Net Proceeds from Borrowing ⓘ	-1	1	-2	0	0	0	0	0	0	0
Interest Paid ⓘ	-1	-1	-1	-1	-1	-1	-1	-1	-2	-3
Dividend Paid ⓘ	0	0	0	0	0	0	0	0	0	-1
Others ⓘ	0	-2	2	2	-1	-1	2	15	-17	-1
Net Cash Flow ⓘ	0	3	-3	-1	1	0	0	-1	7	-10

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	0.08	-9.61	0.33	1.69	1.98	1.57	6.46	18.31	5.66	0.79
ROCE (%)	5.81	-3.68	5.96	6.34	7.01	6.99	8.63	15.05	7.88	3.75
Asset Turnover Ratio	1.66	1.7	1.48	1.2	1.33	1.35	1.43	1.48	0.92	0.84
PAT to CFO Conversion(x)	N/A	N/A	N/A	N/A	N/A	N/A	1	-0.25	-5.33	-1
Working Capital Days
Receivable Days	29	26	27	38	52	66	62	53	50	56
Inventory Days	40	38	52	77	55	42	38	39	63	69
Payable Days	22	26	40	43	38	46	37	31	37	38

Sah Polymers Ltd Stock News

Sah Polymers Ltd FAQs

What is the share price of Sah Polymers?

Company share prices are keep on changing according to the market conditions. The closing price of Sah Polymers on 14-Nov-2024 16:59 is ₹92.50.

What is the market cap of Sah Polymers?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 14-Nov-2024 16:59 the market cap of Sah Polymers stood at ₹238.6.

What is the P/E ratio of Sah Polymers?

The latest P/E ratio of Sah Polymers as of 14-Nov-2024 16:59 is 354.0.

What is the P/B ratio of Sah Polymers?

The latest P/B ratio of Sah Polymers as of 14-Nov-2024 16:59 is 2.85.

What is the 52-week high and low of Sah Polymers?

The 52-week high of Sah Polymers is ₹145.8 and the 52-week low is ₹71.55.

What is the TTM revenue of Sah Polymers?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Sah Polymers is ₹110.2 ( Cr.) .

About Sah Polymers Ltd

The Company was originally incorporated as a public limited company under the name and style of “Peacock Continental Limited” at Udaipur Rajasthan, under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated April 20, 1992 issued by the Registrar of Companies, Jaipur Rajasthan. It commenced commercial operations pursuant to a Certificate of Commencement of Business dated November 04, 1992. The name of the company was changed to “Sah Polymers Limited”. Consequent upon change of name a fresh Certificate of Incorporation dated July 24, 1998 was issued by Registrar of Companies, Jaipur Rajasthan.

The company is an ISO 9001:2015 certified company, primarily engaged in manufacturing and selling of Polypropylene (PP)/ High Density Polyethylene (HDPE) FIBC Bags, Woven Sacks, HDPE/PP woven fabrics, based products of different weight, sizes and colours as per customers specifications. It offers customised bulk packaging solutions to business-to-business (“B2B”) manufacturers catering to different industries such as Agro Pesticides Industry, Basic Drug Industry, Cement Industry, Chemical Industry, Fertilizer Industry, Food Products Industry, Textile Industry Ceramic Industry and Steel Industry. Besides, the company is a Del Credere Associate cum Consignment Stockist (DCA/ CS) of Indian Oil Corporation Limited and also operates as Dealer Operated Polymer Warehouse (DOPW) of Indian Oil Corporation Limited for their polymer division. It enters into arrangements as third-party manufacturers to manufacture its tape and fabric based on customers’ requirements.

The company has two business divisions (i) domestic sales; and (ii) exports. It has presence in 5 states and 1 union territory for its domestic market. Internationally, the company exports its products to countries such as Algeria, Togo, Ghana, Poland, Portugal, France, Italy, Dominican Republic, USA, Australia, UAE, Palestine, UK and Ireland. Presently, the company has one manufacturing facility located at Udaipur, Rajasthan. Over the years, it has made investments, from time to time, in its manufacturing infrastructure to support its product portfolio requirements and its reach.

Business area of the company

Sah Polymers is a leading PP Woven Bags Manufacturer in India (Udaipur, Rajasthan). It manufactures and exports PP Woven Bags and HDPE Box Bags, Flexible Intermediate Bulk Containers (FIBCs), and BOPP Laminated Bags.

Key Awards, Certifications, Accreditations and Recognitions

2001: Received Certificate of Import- Export Code (IEC).
2012: Received ISO 9001:2015 Certification.
2012: Obtained registration under Secretariat for Industrial Assistance.
2017: Received Star Export House Certificate.
2020: Obtained Udyog Aadhar Memorandum/ Entrepreneurs Memorandum.
2022: Obtained the Certificate of Membership for FIBCA ( Flexible Intermediate Bulk Container Association) for the year 2022.

Key events and milestones

1992: ‘Peacock Continental Limited” started its journey to manufacture plastic goods as per the Object clause of MOA.
1998: Takeover of Assets, rights, comprising of land, building , plant and machinery etc. on going concern basis from Peacock Industries Limited pursuant to business Purchase agreement dated July 23, 1998.
1998: Change of name from Peacock Continental Limited to Sah Polymers Limited.
1998: Transfer of erstwhile lease agreement of E-260-261 Mewar Industrial Area Madri Udaipur, Rajasthan, with Rajasthan State Industrial Development & Investment Corporation from Peacock Industries to Sah Polymers.
2015: SAT industries, listed on BSE acquired 85,21,430 shares representing 54.63% of shareholding of the company from the shareholders viz. Lion Houseware, Park Continental and Sat Invest. Thereafter Sat Industries has been identified as its Corporate Promoter in certain Public filings of Company.
2015: The Company exported products to Poland amounting to Rs 3.38 crore which constituted 7.96% of total turnover of about Rs 42.54 crore.
2019: Amalgamation of the company’s wholly owned subsidiary, Sat E-Com Limited (SEL) with the Company under section 233 of the Companies Act, 2013, by Order number (02)/2020- 21/753 dated 21/08/2020 of the Regional Director, North Western (RD-NW), Ministry of Corporate Affairs, Ahmedabad subject to all the necessary statutory / regulatory approvals.
2022: Acquisition of 33,884 equity shares aggregating to 51.01% of paid up capital of Fibcorp Polyweave by way of transfer and rights issue pursuant to which it became Subsidiary on January 05, 2022.