1. At a Glance
Premier Polyfilm is turning vinyl into valuations — and we’re not talking about records. With a Q1 PAT of ₹6 Cr and ROCE north of 32%, this micro-cap is punching harder than its ₹53 stock price suggests. But the real twist? It’s almost debt-free and still growing faster than your friend’s crypto regrets.
2. Introduction with Hook
Imagine a small factory making PVC flooring, quietly sipping chai while Supreme and Astral hog all the FMCG limelight. But guess what? That little factory just pulled off a 33% 5-year profit CAGR. It’s like discovering your quiet cousin secretly runs a 6-pack gym empire.
- ROE: 24.5%
- OPM: 15% (margins juicier than monsoon bhutta)
This isn’t just a plastic business. It’s a profitability parade in industrial overalls.
3. Business Model (WTF Do They Even Do?)
Premier Polyfilm makes vinyl flooring, artificial leather cloth, PVC sheets, and specialty calendared films — the kind you see on walls, buses, sofas, and probably that shady office chair you bought online.
Capabilities:
- Calendaring ✔
- Embossing ✔
- In-house Fabric & Testing ✔
- Branding? Still catching up…
Basically: They’re the OEM artists behind the glossy, flexible stuff you never think about — but pay for anyway.
4. Financials Overview
| Metric | FY25 | FY24 | YoY Growth |
|---|---|---|---|
| Revenue | ₹267 Cr | ₹259 Cr | 3.1% |
| EBITDA | ₹41 Cr | ₹33 Cr | 24.2% |
| PAT | ₹26 Cr | ₹21 Cr | 23.8% |
| OPM | 15% | 13% | Expanding |
| ROE | 24.5% | 21% | Healthy Rise |
Punchline: Sales are crawling, but profits are flying — like a scooter with jet fuel.
5. Valuation
Let’s peel the plastic layers:
- P/E: 21.4x
- P/BV: 4.72x (CMP ₹53.1 / BV ₹11.2)
- EV/EBITDA: ~13x (est.)
Fair Value Estimate:
- P/E-based (15–22x): ₹40–₹58
- EV/EBITDA-based (10–14x): ₹42–₹55
- FV Range: ₹42–₹58
At CMP ₹53, it’s near the upper limit — not expensive, not free either. Like airport chai — acceptable only if the flight is delayed.
6. What’s Cooking – News, Triggers, Drama
- Q1 FY26 Profit: ₹6 Cr — flat but solid
- AGM Update: Scheduled for Sept 24; new auditors & directors incoming
- Debt-Free Status: Fully repaid loans — financial detox complete
- Expansion Watch: No big buzz yet, but margin improvement hints at better capacity utilization
- Price Trend: Down from ₹85 to ₹53 — basically Midcap vibes, Smallcap heartbreak.
7. Balance Sheet
| Item | FY25 |
|---|---|
| Total Assets | ₹164 Cr |
| Reserves | ₹107 Cr |
| Borrowings | ₹0 Cr |
| Fixed Assets | ₹56 Cr |
Summary: Built like an Olympic gymnast — light, lean, and lethal. Zero debt and flexing hard.
8. Cash Flow – Sab Number Game Hai
| Year | CFO | CFI | CFF | Net Flow |
|---|---|---|---|---|
| FY24 | ₹27 Cr | ₹-6 Cr | ₹-10 Cr | ₹11 Cr |
| FY25 | ₹23 Cr | ₹-11 Cr | ₹-6 Cr | ₹6 Cr |
Verdict: Cash flows are reliable like your local plumber. Not fancy, but always shows up.
9. Ratios – Sexy or Stressy?
| Ratio | Value |
|---|---|
| ROCE | 32.4% |
| ROE | 24.5% |
| PAT Margin | 10% |
| D/E | 0.00 |
| Inventory Days | 70 |
Commentary: Financially fitter than your New Year’s resolutions — and more consistent too.
10. P&L Breakdown – Show Me the Money
| FY | Revenue | EBITDA | PAT |
|---|---|---|---|
| FY23 | ₹252 Cr | ₹22 Cr | ₹12 Cr |
| FY24 | ₹259 Cr | ₹33 Cr | ₹21 Cr |
| FY25 | ₹267 Cr | ₹41 Cr | ₹26 Cr |
Bottom line: Profits are compounding faster than your gym membership guilt.
11. Peer Comparison
| Company | Rev (Cr) | PAT (Cr) | P/E | ROE |
|---|---|---|---|---|
| Supreme Inds | ₹10,446 | ₹923 | 57x | 17% |
| Astral | ₹5,832 | ₹519 | 77x | 15% |
| Kingfa | ₹1,745 | ₹153 | 29x | 23% |
| Premier Polyfilm | ₹270 | ₹26 | 21x | 24.5% |
Key Line: Smallest by size, but flexing some of the highest returns. Like an underdog boxer who wins without a coach.
12. Miscellaneous – Shareholding, Promoters
| Holder | Mar 2024 | Jun 2025 |
|---|---|---|
| Promoters | 67.37% | 67.60% |
| FIIs | 0.01% | 0.02% |
| DIIs | 1.02% | 1.02% |
| Public | 31.16% | 31.14% |
Not much drama here — FII and DII interest flatter than your water bottle by 3 PM.
13. EduInvesting Verdict™
Premier Polyfilm isn’t trying to be flashy. No unicorn slogans. No headline-grabbing partnerships. Just solid, old-school manufacturing — with a financial sheet that’d make many startups cry.
Verdict: If you like your stocks boring but rich in fiber (a.k.a. ROCE), this might be your hidden gem.
Not a business-class seat, but an emergency exit row with extra legroom.
Metadata:
Written by EduInvesting Team | 23 July 2025
Tags: Premier Polyfilm, Vinyl Flooring, Microcap Analysis, EduInvesting Premium
