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“Polson Ltd: The ₹13,000 Stock That No One Trades, Pays No Dividends & Still Exists”

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1. At a Glance

Polson Ltd is the Benjamin Button of the Indian stock market — over a century old (incorporated in 1900), trading at ₹13,000+, barely moves, and nobody talks about it. It’s like that secret club of legacy stocks whose valuation comes more from mystery than momentum. But behind the vintage price tag lies a struggling specialty chemicals business that hasn’t grown in a decade.


2. WTF Do They Even Do?

📦 Core Business: Manufacturing eco-friendly vegetable tannins and leather chemicals
🌿 Niche: Natural-based tanning substances for the domestic and export market
🧪 Use Case: Leather processing — think shoes, jackets, upholstery

🧠 Translation: They make chemicals that make your leather products less evil (and maybe less itchy).


3. Financials Overview – Century-Old, But Barely Walking

MetricFY21FY22FY23FY24FY25
Sales (₹ Cr)88.697.583.996.493.3
Net Profit (₹ Cr)8.56.24.85.25.2
OPM (%)17.6%15.9%17.0%16.5%16.1%
ROCE (%)9.5%8.1%6.5%7.0%6.6%
ROE (%)4.2%4.2%4.0%4.2%4.2%

📉 Revenue CAGR (5Y): -1%
📉 Profit CAGR (5Y): -6%


4. Valuation – Is It Cheap, Meh, or Crack?

  • CMP: ₹13,100
  • EPS (FY25): ₹261.5
  • P/E: 30.06x
  • Book Value: ₹6,330
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