BSE: 0 | NSE: BALCO | Plastic Products | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Solve Plastic Products Ltd is a average quality company.
The key valuation ratios of Solve Plastic Products Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Solve Plastic Products 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 % ⓘ | 4.3% | 6.1% | 19.3% | 18.7% | - |
| Value Creation Index ⓘ | -0.7 | -0.6 | 0.4 | 0.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||
| Sales ⓘ | 41.7 | 55.1 | 60.8 | 46.2 | 46 |
| Sales YoY Gr. | - | 32% | 10.4% | -24% | - |
| Adj EPS ⓘ | -0.7 | -1.4 | 3.8 | 4.6 | 3.3 |
| YoY Gr. | - | NA | NA | 19.4% | - |
| BVPS (₹) ⓘ | 3.7 | 2.4 | 6.3 | 14.3 | 37.2 |
| Adj Net Profit ⓘ | -0.2 | -0.4 | 1.2 | 1.4 | 1 |
| Cash Flow from Ops. ⓘ | 2.4 | 5.3 | 2.1 | 2.1 | - |
| Debt/CF from Ops. ⓘ | 6.5 | 2.3 | 5.7 | 6 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 3.5% | -24% | ||||
| Adj EPS ⓘ | NA | NA | NA | 19.4% | ||||
| BVPSⓘ | NA | NA | 56.7% | 125.7% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | -17.5 | -45.4 | 87.6 | 44.3 | 12.7 |
| Op. Profit Mgn % ⓘ | 3 | 2 | 3.2 | 5.8 | NAN |
| Net Profit Mgn % ⓘ | -0.5 | -0.8 | 1.9 | 3 | 3.1 |
| Debt to Equity ⓘ | 13.7 | 17 | 6.4 | 2.8 | - |
| Working Cap Days ⓘ | 0 | 88 | 73 | 108 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 58 | 51 | 76 | 0 |
Debt to equity has declined versus last 3 years average to 2.83
Return on Equity has declined versus last 3 years average to 12.70%
Sales growth has been subdued in last 3 years 3.45%
Net Profit has been subdued in last 3 years 0.00%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 3.3 | - |
| TTM Sales (₹ Cr.) | 46.2 | - |
| BVPS (₹.) ⓘ | 37.2 | - |
| Reserves (₹ Cr.) ⓘ | 12 | - |
| P/BV ⓘ | 1.24 | - |
| PE ⓘ | 14.13 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 20.1 |
| Equity (₹ Cr.) | 4.4 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 43 |
| Pledged * | 0.00 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Sales | 41.72 | 55.07 | 60.77 | 46.19 |
| Operating Expenses ⓘ | 40.49 | 53.98 | 58.81 | 43.50 |
| Manufacturing Costs | 2.16 | 3.03 | 3.76 | 3.28 |
| Material Costs | 31.72 | 43.81 | 44.51 | 30.39 |
| Employee Cost | 2.91 | 3.62 | 4.47 | 4.64 |
| Other Costs ⓘ | 3.71 | 3.52 | 6.06 | 5.18 |
| Operating Profit ⓘ | 1.23 | 1.09 | 1.96 | 2.70 |
| Operating Profit Margin (%) | 2.9% | 2.0% | 3.2% | 5.8% |
| Other Income ⓘ | 0.66 | 0.71 | 1.48 | 0.97 |
| Interest ⓘ | 1.67 | 1.43 | 1.38 | 1.44 |
| Depreciation ⓘ | 1.18 | 0.90 | 0.83 | 0.77 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -0.96 | -0.53 | 1.24 | 1.45 |
| Tax ⓘ | -0.81 | -0.12 | 0.03 | 0.02 |
| Profit After Tax | -0.15 | -0.41 | 1.20 | 1.42 |
| PAT Margin (%) | -0.4% | -0.7% | 2.0% | 3.1% |
| Adjusted EPS (₹) | -0.5 | -1.3 | 4.0 | 4.7 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 1.13 | 0.72 | 1.93 | 4.39 | ||||||
| Share Capital ⓘ | 3.04 | 3.04 | 3.04 | 3.07 | ||||||
| Reserves ⓘ | -1.90 | -2.31 | -1.11 | 1.32 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 12.72 | 10.30 | 10.53 | 11.36 | ||||||
| Long Term Debt | 5.43 | 3.49 | 2.93 | 3.11 | ||||||
| Short Term Debt | 7.28 | 6.81 | 7.61 | 8.25 | ||||||
| Trade Payables | 1.81 | 3.11 | 1.29 | 2.54 | ||||||
| Others Liabilities ⓘ | 4.60 | 2.89 | 3.83 | 2.69 | ||||||
| Total Liabilities ⓘ | 20.26 | 17.03 | 17.58 | 20.97 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 5.52 | 5.28 | 5.14 | 5.26 | ||||||
| Accumulated Depreciation | 0 | 0 | 0 | 0 | ||||||
| Net Fixed Assetsⓘ | 5.52 | 5.28 | 5.14 | 5.26 | ||||||
| CWIP ⓘ | 0 | 0 | 0 | 0.89 | ||||||
| Investmentsⓘ | 0 | 0 | 0 | 0 | ||||||
| Inventories | 6.96 | 6.22 | 6.69 | 7.62 | ||||||
| Trade Receivables | 5.02 | 4.48 | 4.12 | 5.05 | ||||||
| Cash Equivalents | 0.02 | 0.02 | 0.01 | 0.01 | ||||||
| Others Assetsⓘ | 2.73 | 1.04 | 1.61 | 2.14 | ||||||
| Total Assets ⓘ | 20.26 | 17.03 | 17.58 | 20.97 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 2.36 | 5.30 | 2.14 | 2.07 |
| PBT ⓘ | -0.96 | -0.53 | 1.24 | 1.45 |
| Adjustment ⓘ | 2.88 | 2.54 | 2.28 | 2.28 |
| Changes in Working Capital ⓘ | 0.44 | 3.29 | -1.38 | -1.66 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | -0.11 | -0.73 | -0.68 | -1.85 |
| Capex | -0.14 | -0.65 | -0.64 | -1.76 |
| Net Investments | 0 | 0 | 0 | 0 |
| Others ⓘ | 0.02 | -0.08 | -0.04 | -0.08 |
| Cash Flow From Financing Activityⓘ | -2.25 | -4.57 | -1.46 | -0.22 |
| Net Proceeds from Shares ⓘ | 0.11 | 0 | 0 | 1.04 |
| Net Proceeds from Borrowing ⓘ | 0.86 | -1.94 | -0.57 | 0.19 |
| Interest Paid ⓘ | -1.67 | -1.43 | -1.38 | -1.44 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 |
| Others ⓘ | -1.55 | -1.20 | 0.49 | 0 |
| Net Cash Flow ⓘ | 0 | 0 | -0.01 | 0 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -13.6 | -43.94 | 90.82 | 45.13 | ||||||
| ROCE (%) | 4.25 | 6.07 | 19.27 | 18.69 | ||||||
| Asset Turnover Ratio | 2.06 | 2.95 | 3.51 | 2.4 | ||||||
| PAT to CFO Conversion(x) | N/A | N/A | 1.78 | 1.46 | Working Capital Days | |||||
| Receivable Days | 44 | 31 | 26 | 36 | ||||||
| Inventory Days | 61 | 44 | 39 | 57 | ||||||
| Payable Days | 21 | 20 | 18 | 23 | ||||||
Solve Plastic Products Limited was originally incorporated as ‘Solve Plastic Products Private Limited’ on October 04, 1994 under the provision of the Companies Act, 1956 issued by Registrar of Companies - Ernakulam. Subsequently, the company was converted into Public Limited Company under the Companies Act, 2013 and the name of the Company was changed to ‘Solve Plastic Products Limited’ vide a fresh Certificate of Incorporation consequent upon conversion from Private Company to Public Company dated March 05, 2024 issued by Registrar of Companies - Central Processing Centre.
The company is engaged in manufacturing of comprehensive range of uPVC (Unplasticized Polyvinyl Chloride) Pipes and Rigid PVC Electrical Conduits. The company is committed towards constant innovations in drinking water piping solutions and electrical conduit fittings technologies to meet the constantly increasing demands. The company has 3 well-equipped manufacturing facility. It has the latest technology and equipment that helps in the production of high-quality uPVC pipes and Electrical Conduits of different sizes. Its manufacturing facilities are fully automated. The company also has a well-trained team of engineers, technicians and operators that helps in the production and quality control of the products.
The company markets its products under the brand name of ‘BALCOPIPES’, through its network of Authorized Dealers/Distributors. The products manufactured are approved by various agencies such as the Bureau of Indian Standards (BIS) and also from organisations i.e. Central Public Works Department (CPWD) of Chennai & Kochi, Military Engineer Services (MES), Integral Coach Factory, Public Works Department (PWD) of Kerala and Tamil Nadu and Tamil Nadu Housing Board. It is registered vendor with government organizations such as Chennai Port Authority and Southern Railway.
Business area of the company
The company is engaged in the business of manufacturing Rigid PVC Conduits, Water Pipes & Related fittings.
Products of the company
History and milestones
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