BSE: 544035
Swashthik Plascon Limited
Manufactures PET bottles, preforms, jars and closures for pharmaceutical, liquor, FMCG and industrial customers across southern India, operating from Puducherry with three subsidiaries — Swasthik Industriees, Swasthik Polimers and Swasthik Preforms. The standalone entity makes caps, preforms and polymers, while the Swashthik Poliemers subsidiary (99% stake) runs a pharmaceutical-grade PET facility whose monthly capacity was expanded from 90 MT to 140 MT. Consolidated revenue for FY26 stood at ₹15,289 lakh with profit after tax of ₹1,009 lakh, and standalone revenue was ₹5,033.66 lakh. An 8 MW solar power project is being set up for captive use to cut monthly power costs. Raw materials (polymers/resin) are the dominant input cost, accounting for 39.2% of revenue in FY26, while capex intensity is high at 20.9% of revenue, reflecting ongoing capacity expansion. Products span pharma PET packaging, liquor bottles and closures, FMCG containers and industrial plastic components. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Pharma PET packaging, Liquor bottles and closures, FMCG and industrial containers. Plastic packaging manufacturer with pharma PET, liquor and FMCG exposure; capex-heavy capacity expansion phase
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 126 | 144 | 153 |
| EBITDA (ex other income) | — | — | — |
| margin % | — | — | — |
| Owners' profit | — | — | — |
| EPS, as reported (₹) | 4.29 | 3.57 | 4.13 |
| ROE % · ROCE % | — · 12.5 | — · 8.9 | — · 10.6 |
| Debt / equity (x) | — | — | — |
| Cash from operations | (10) | (19) | 34 |
| Capex | — | (23) | (32) |
Exhibit 2: Quarterly performance, last 5 quarters
| ₹ crore | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|
| Revenue | 60 | 72 | 72 | 76 | 77 |
| Profit before tax | 4 | 6 | 3 | 7 | 4 |
| Net profit | — | — | — | — | — |
| EPS (₹) | 0.48 | 2.54 | 1.29 | 2.83 | 1.30 |
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. % |
|---|---|---|---|---|---|---|---|---|
| SUPREME INDUSTRIES LTD | 41,906 | 40.4 | 6.79 | 25.8 | 15.5 | 17.9 | 12.0 | 15.0 |
| ASTRAL LIMITED | 37,014 | 64.2 | 9.12 | 33.4 | 13.2 | 16.9 | 15.6 | 15.5 |
| GARWARE HI-TECH FILMS LTD | 16,546 | 42.7 | 6.23 | 32.9 | 12.7 | 16.4 | 16.5 | 30.3 |
| KINGFA SCI & TEC IND LTD. | 9,213 | 40.8 | 6.58 | — | 13.2 | 17.7 | — | 16.9 |
| FINOLEX INDUSTRIES LTD | 8,719 | 14.2 | 1.40 | 10.3 | 9.6 | 11.8 | 3.5 | 20.6 |
| TIME TECHNOPLAST LTD. | 8,051 | 15.8 | 1.93 | 9.1 | 11.4 | 14.0 | 15.2 | 13.3 |
| PRINCE PIPES FITTINGS LTD | 2,776 | 27.2 | 1.69 | — | 4.5 | 5.6 | — | 13.3 |
| APOLLO PIPES LIMITED | 2,132 | — | 2.39 | 28.3 | 0.5 | 1.0 | — | 1.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 2.3 | 14.2 | 2 of 46 | 98% |
| ROCE | 6.9 | 7.0 | 29 of 56 | 49% |
| Revenue growth | 28.4 | 10.6 | 15 of 49 | 71% |
| Market cap | 35 | 122 | 40 of 55 | 28% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 14 Oct 2026 · Quarterly Reg 74(5) certificate filed; no physical shares for demat | compliance | minimal | — | — |
| 29 Sept 2026 · Trading window closed from Oct 1 ahead of H1 results | compliance | minimal | — | — |
| 26 Sept 2026 · AGM results: All 7 resolutions passed with 100% approval | board shareholder meetings | low | — | — |
| 25 Sept 2026 · AGM 2026: All 7 resolutions passed including related party transactions | board shareholder meetings | low | — | — |
| 23 Sept 2026 · 15th AGM held Sept 23, 2026; financial statements adopted, related party deals tabled | board shareholder meetings | low | — | — |
| 23 Sept 2026 · Promoter group buys 0.78% open market, holding rises to 49.36% | ownership changes | high | — | — |
| 15 Sept 2026 · Promoter group raises stake in Swashthik Plascon to 48.58% via open market buys | ownership changes | high | — | — |
| 11 Sept 2026 · Non-promoter group trims stake in Swashthik Plascon by 2.45% in open market | ownership changes | medium | — | — |
| 1 Sept 2026 · Newspaper publication of 15th AGM notice | compliance | minimal | — | — |
| 31 Aug 2026 · Annual Report FY26 and 15th AGM Notice filed with BSE | 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.