BSE: 526043
POLYMECHPLAST MACHINES LTD.
Manufactures plastic processing injection and blow moulding machines in India under the "GoldCoin" brand, operating from its Vadodara registered office. The product range includes next-generation higher-tonnage machines, double-colour injection moulding solutions, hybrid and blow moulding machines, and the PROTEK series featuring Industry 4.0 IoT capabilities, showcased at PLASTINDIA 2026 in New Delhi. The business operates in a single segment — manufacturing of plastic processing machines — and sells to plastics product manufacturers needing moulding equipment. Standalone revenue from operations for FY26 stood at Rs 6,893.10 lakhs, up roughly 7.6% from Rs 6,408.66 lakhs in FY25. Materials form 76% of revenue, making raw materials the dominant input cost, followed by employees at 10.9% and other operating expenses at 14.1%. The company also reports consolidated numbers that include its associate, TBC-Goldcoin Private Limited. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Manufacturing of plastic processing machines. Small-cap, single-segment industrial machinery maker with cyclical exposure to plastics-industry capex
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 83 | 69 | 59 | 65 | 69 |
| EBITDA (ex other income) | 5 | 3 | 2 | 2 | 1 |
| margin % | 6.6 | 4.1 | 3.2 | 2.6 | 0.9 |
| Owners' profit | 0 | 2 | 0 | 0 | 0 |
| EPS, as reported (₹) | 6.58 | 2.77 | 1.29 | 1.25 | 5.72 |
| ROE % · ROCE % | 14.3 · 21.2 | 6.1 · 8.5 | 2.8 · 6.3 | 2.7 · 5.6 | 11.4 · 16.4 |
| Debt / equity (x) | 0.21 | 0.26 | 0.04 | 0.14 | 0.17 |
| Cash from operations | 3 | 2 | 3 | (1) | (5) |
| Capex | 0 | (0) | (1) | (0) | (1) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 16 | 15 | 19 | 12 | 15 | 20 | 22 | 10 |
| Profit before tax | 1 | 0 | 0 | (0) | 0 | 1 | 4 | (1) |
| Net profit | 1 | 0 | 0 | (0) | (0) | 1 | 3 | (1) |
| EPS (₹) | 0.91 | 0.39 | 0.35 | 0.52 | 0.16 | 1.09 | 5.31 | 1.42 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 46,904 | 97.4 | 24.99 | 80.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,105 | 81.2 | 9.82 | 52.4 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 26,932 | 49.1 | 6.04 | — | 11.8 | 15.5 | — | 18.2 |
| JYOTI CNC AUTOMATION LTD | 21,121 | 65.7 | 10.55 | 37.3 | 16.8 | 19.2 | — | 22.2 |
| KAYNES TECHNOLOGY IND LTD | 20,995 | 60.6 | 4.41 | 29.9 | 7.6 | 9.8 | — | 17.1 |
| LMW LIMITED | 17,483 | 100.1 | 6.10 | 56.6 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 13,085 | 459.6 | 3.84 | 39.1 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,360 | 48.5 | 7.34 | 50.4 | 11.7 | 11.5 | — | 15.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 5.8 | 26.7 | 13 of 130 | 91% |
| P/B | 0.9 | 3.1 | 15 of 112 | 87% |
| ROCE | 15.1 | 11.3 | 51 of 142 | 65% |
| ROE | 11.4 | 9.8 | 47 of 113 | 59% |
| Debt / Equity | 0.2 | 0.2 | 61 of 113 | 46% |
| EBITDA margin | (6.4) | 12.4 | 104 of 110 | 6% |
| Revenue growth | (17.1) | 20.6 | 101 of 114 | 12% |
| Profit growth | (174.2) | 17.1 | 102 of 109 | 7% |
| Market cap | 26 | 273 | 122 of 141 | 14% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 15 Oct 2026 · Compliance Certificate for Securities Dematerialisation - Sep 2026 Quarter | compliance | minimal | — | — |
| 10 Oct 2026 · Company clarifies delayed filing of 39th AGM proceedings to BSE under Reg 30(6) | regulatory legal | medium | — | — |
| 3 Oct 2026 · 39th AGM: all 4 resolutions passed, Rs 1/share dividend approved | board shareholder meetings | low | — | — |
| 1 Oct 2026 · Mr. Devang Rasiklal Shah appointed as Independent Director for 5 years | management changes | medium | — | — |
| 1 Oct 2026 · 39th AGM proceedings: 10 percent dividend declared, new Independent Director appointed | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Trading Window Closed Ahead of Q2 and Half Year Results | compliance | minimal | — | — |
| 8 Sept 2026 · 39th AGM notice, e-voting and book closure details published in newspapers | compliance | minimal | — | — |
| 7 Sept 2026 · 39th AGM notice and annual report FY26 filed; Rs 1 dividend recommended | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Revised AGM, Record Date and Book Closure dates announced | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.