1. 1Resins and Plastics Essentials
    1. 1.1 Resins and Plastics ISIN
    2. 1.2 Resins and Plastics Face Value
    3. 1.3 Resins and Plastics Total Share
    4. 1.4 Resins and Plastics Total Income
    5. 1.5 Resins and Plastics Profit After Tax
    6. 1.6 Resins and Plastics Promoter Holding
    7. 1.7 Resins and Plastics EPS
    8. 1.8 Resins and Plastics P/E
    9. 1.9 Resins and Plastics P/B
    10. 2.0 Resins and Plastics Market Capitalisation
    11. 2.1 Resins and Plastics Enterprise Value
    12. 2.2 Resins and Plastics Book Value
    13. 2.3 Resins and Plastics Intrinsic Value
    14. 2.4 Resins and Plastics Earnings Yield
    15. 2.5 Resins and Plastics Dividend Yield
    16. 2.6 Resins and Plastics Sector
    17. 2.7 Resins and Plastics Sub-sector
    18. 2.8 Resins and Plastics Category
    19. 2.9 Resins and Plastics Cashflow - Operations
    20. 3.0 Resins and Plastics Cashflow - Financing
  2. 2Resins and Plastics Growth
    1. 2.1 Resins and Plastics Compounded Sales Growth
    2. 2.2 Resins and Plastics Compounded Profit Growth
    3. 2.3 Resins and Plastics Return On Equity
  3. 3 About Resins and Plastics
  4. 4 Resins and Plastics IPO Details
  5. 5 Resins and Plastics Funding
  6. 6 Resins and Plastics Merger & Acquisition
    1. 6.1 Resins and Plastics Merger
    2. 6.2 Resins and Plastics Acquisition
    3. 6.3 Resins and Plastics Investments
  7. 7 Resins and Plastics Subsidiaries
  8. 8 Resins and Plastics Business Model
  9. 9 Resins and Plastics Revenue Segmentation
  10. 10 Resins and Plastics Product & Services
  11. 11 Resins and Plastics Assets
  12. 12 Resins and Plastics Industry Overview
    1. 12.1 Resins and Plastics Industry Statistics
    2. 12.2 Resins and Plastics Future Prospects
    3. 12.3 Resins and Plastics Government Initiatives
  13. 13 Resins and Plastics Awards & Achievements
  14. 14 Resins and Plastics SWOT
    1. 14.1 Resins and Plastics Strengths
    2. 14.2 Resins and Plastics Shortcomings
    3. 14.3 Resins and Plastics Opportunities
    4. 14.4 Resins and Plastics Government Threats
  15. 15 Resins and Plastics Rating
  16. 16 Resins and Plastics Detail Info

Resins and Plastics Essentials

Discover and get complete analysis on Resins and Plastics stock price  & Information Like- Funding, Threats, Opportunities, Awards & Achievements, Strengths & Resins and Plastics Latest News.



Face Value


Total Share


Total Income

₹21,565.42 L

Profit After Tax

₹1,181.77 L







Market Capitalisation

₹220.30 Cr

Enterprise Value

₹219.48 Cr

Book Value


Intrinsic Value


Dividend Yield

1.14 %

Earnings Yield

5.36 %




Auto Ancillaries


Micro Cap

Cashflow - Operations

₹230.82 L

Cashflow - Financing

-₹230.01 L

Resins and Plastics Growth

Compounded Sales Growth

  • 47.11%

    1 Year

  • 13.31%

    4 Year

  • 9.58%

    7 Year

Pro Only

Compounded Profit Growth

  • 1.15%

    1 Year

  • 16.69%

    4 Year

  • 14.71%

    7 Year

Pro Only

Return On Equity

  • 13.61%


  • 14.91%


  • 14.62%


Pro Only

About Resins and Plastics

  • Resins and Plastics Ltd. (RPL) manufactures and markets various synthetic resins primarily in India to a wide range of industries today such as adhesives, coatings, printing inks, insulating varnishes, wire enamels, lamination, construction, cosmetics, textiles and foundries. RPL commenced its operations in 1971 for manufacturing Alkyd Resins, Epoxy Resins, Foundry Resins, Ketonic Resins, and Phenolic Resins some of which are import substitutes.
  • Over the years, RPL has also established itself as a noteworthy exporter of synthetic resins to the coatings and printing ink manufacturers of the neighbouring countries. The company exports to neighbouring countries and are planning to expand it to other countries. Its corporate office is in Mumbai and has three manufacturing plants located in Taloja (1) (Maharashtra) and Ankleshwar (2) (Gujarat), both of which are in close proximity to the shipping ports.
  • The management team consists of experienced professionals having educational background in Chemical Engineering, Polymer Science and MBA’s from reputed institutes. Its well- equipped R&D centre is recognized by Government of India and it leverages technology to achieve a competitive advantage for its customers. RPL's strength lies in its manufacturing and strong distribution network that spans across India. 
  • Pragati Chemicals Limited has been merged with the company with effect from 1st April 2019 vide National Company Law Tribunal (NCLT) order dated 25th June 2020.
  • The company has received approval for the higher production from Statutory Authorities during FY21. This will boost up their market foot prints and increased production and sale during FY21.

  • Resins and Plastics IPO Details

Currently, the company has no plan to raise funds through IPO.

  • Resins and Plastics Merger & Acquisition


The National Company Law Tribunal Special Bench, Mumbai had passed an order approving the Scheme of Amalgamation of Pragati Chemicals Limited (Transferor Company) with Resins and Plastics Limited (Transferee Company/ the Company). The appointed date of the Scheme was fixed as 01.04.2019.

Pursuant to the scheme of amalgamation, Authorized Share Capital of the company has been increased to 6,00,00,000/- and the company had allotted 6,00,000 Equity Shares of 10 each in the ratio of 5 (Five) equity shares for every 3 (Three) share held by shareholders of Pragati Chemicals Limited on 3rd September, 2020 pursuant to the scheme of amalgamation.

  • Resins and Plastics Subsidiaries

The company does not have any subsidiaries/ joint ventures/ associates.

Resins and Plastics Business Model

  • Resins and Plastics Ltd. (RPL) is one of India's leading synthetic resin manufacturer catering to a wide range of industries today such as adhesives, coatings, printing inks, insulating varnishes, wire enamels, lamination, construction, cosmetics, textiles and foundries.
  • RPL also has an associate company, Pragati Chemicals Ltd. (PCL) that focuses on the manufacturing of amino resins, ketonic resins and epoxy resins. PCL has a plant in Ankleshwar in Gujarat that is eco-friendly using natural gas as a source for heat.
  • RPL has also established itself as a noteworthy exporter of synthetic resins to the coatings and printing Ink manufacturers of the neighbouring countries in Asia, Africa, and Middle East and South East Asian countries.
  • Resins and Plastics Revenue Segmentation

  • Synthetic Resins (Finished Goods)
  • Synthetic Resins (Traded Goods)
  • Other Operating Income
  • Resins and Plastics Product & Services

The company is primarily engaged in the manufacture of synthetic resins. It has a portfolio comprising a wide range of products like Alkyds, Acrylics, Polyamides, Phenolic, Polyurethane and Maleic Resins.

  • Resins and Plastics Assets

The company's assets as on 31st March 2022.

Particulars(Amount in ₹ Lakhs)
Land Leasehold38.12
Plant and Equipment792
Furniture and Fixtures14.18
Vehicle and Office equipment13.52
R&D Equipment51.04
Software and License3.72

  • Resins and Plastics Industry Overview

Industry Statistics

Overview of the Industry:

  • Synthetic resin is a chemical organic compound this is artificially created to mimic the traits of its naturally going on counterpart.
  • Synthetic resin is chiefly used as a bonding agent, and a feedstock for the manufacture of plastics as well as paints, surface coatings, adhesives, synthetic textile fibres etc. It is the main content of plastic comprising around 30-60% of raw materials.
  • Synthetic resins are industrially manufactured via the manner of polymerization, which includes the introduction of chain-related polymers, allowing for extra stable, homogenous resulting structures than are found in naturally going on resins.
  • The raw materials of the resins include lignin, polyol, solvent, catalyst, acid anhydride (based on the production type), and multi-epoxy compound. Certain processes also include manufacturing from bisphenol, formaldehyde, n-butanol or isobutanol in the presence of a tri-alkali metal phosphate as a catalyst for the preparation of deep-drawable, sterilizable and chemically resistant products.
  • Polycondensate resin also called condensation resin, is made by combining two or three types of monomeric compounds in functional groups, which is rid of the small molecules after being heated or catalyzed. 
  • Alkyds are used in paints, varnishes and in moulds for casting. They are the dominant resin or binder in most commercial oil-based coatings. Approximately 200,000 tons of alkyd resins are produced each year. 


  • Industry: The company manufactures Synthetic resins- Poly-Condensate type (Alkyd Resins, Acrylic Resins, Epoxy Resins, Ketonic Resins, Maleic Resins, Melamine formaldehyde Resins, Polyester Resins, Polyamide Resins, Phenolic Resins, Urea formaldehyde Resins)
  • Industry Served:


  • According to the most recent IMF projections, the world economy would expand by 3.6% in 2022 and 2023. The Indian economy expanded by a robust 8.7% in the financial year 2021–2022, as opposed to a decrease of 6.6% in the financial year 2020–2021, according to the Central Statistical Office (CSO), indicating that pre-pandemic levels of economic activity have been surpassed in India. 
  • However, in the latter half of the FY 2021-2022, India’s growth prediction for 2022–23 (FY23) was reduced by 140 basis points to 6.8% by the International Monetary Fund (IMF), which cited less favourable external conditions and the central bank’s quickening of policy tightening. 2022 Projected Consumer Prices remained at 6.9%.
  • The Repo rate was hiked in a phased manner to 6.25% (December 2022) by the RBI adapting to the hawkish needs of the market and to counter rising inflation which cooled off to 5.88% (retail CPI) by November. An impending revival in demand, positive consumption pattern and rising disposable income makes India the most sought-after investment destination.
  • Already the fifth largest economy in the world, India is reasonably expected to take its place among the world’s top three economic powers in the next 10-15 years. It is also a global supplier, with India’s polymer exports totalling some 1.5 million metric tons in 2021.
  • Due to the easing of its FDI policy, the country witnessed a swell of foreign investment inflow. In fact, with a 75 per cent growth rate, the manufacturing sector saw 27% of the total FDI inflow in FY 22. Not only this, the world's fastest-growing economy also witnessed an increase in the number of FDI projects. As many as 108 project deals were announced in 2021, as per the UNCTAD 2022 Investment Report.
  • The seasonally adjusted S&P Global purchasing managers’ (PMI) index: India's reading climbed to 57.8 in December, from 55.7 in November, remaining well above the neutral 50 mark that separates growth from contraction.

Serviceable market: The company caters to small, and large & MNC customers operating in Surface Coatings, Adhesives, Printing Inks and Construction Chemicals through its robust PAN India sales network/distributors providing technical service and support. Further, it has a consistent export base in neighbouring countries and is actively working to expand beyond. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

Thus, it is imperative to look into its subject market to infer its prospects as well as standpoint.

  • Demand from Paints and coatings market:
    • Industrial paints and coatings find use in industries such as automobiles, auto ancillaries, consumer durables, marine vessels, and industrial plant and machinery. Of these, the automotive segment constitutes the largest share. Owing to the technology-intensive nature of the end-users, manufacturers have entered into technical collaborations and joint ventures with leading intonational paint producers.
    • The domestic paints and coatings industry, with a market size of ₹ 50,000-52,000 Cr. in fiscal 2020. In FY21, amidst slowdown in major end user industries, the paints industry revenue contracted by 5-10% y-o-y (reaching a market of ₹ 46,000-49,000 Cr.), as real estate completions were severely impacted during HI of FY21 post lockdown following onset of Covid, which affected decorative paints Furthermore, subdued production growth of automobile impacted growth of auto paints.
    • The Indian Paint Industry is worth over ₹ 55-62,000 Cr in FY22 consisting of over 3,000 paint manufacturers, with nearly all global majors present in the country. It has a near-75% share of architectural paints and a 25% share of industrial paints, with equitable fast-paced growth across diverse segments.
    • Large, organized players account for 65-70% of the domestic paints industry (value-wise), making this industry fairly organized. The remainder of the industry comprises 2,000 small players, who mainly compete in regional markets.
  • Wood coatings form a small share of the overall pie, with significant growth potential
    • The global wood coatings market size was valued at $ 9.25 Billion (₹ 74,000 Cr.) in 2022 and is expected to grow at a CAGR of 5.3% from 2023 to 2030.
    • The wood coatings market in India was sized at ₹ 25-30,000 Cr in FY21, forming 5% of the overall paints and coatings market. Wood coatings are primarily used on sidings, windows, and doors, with stains and sealers used on cabinets, furniture, flooring, and decks to improve durability, resistance to moisture and improving aesthetics.
    • Building Construction dominates the demand with a 70% market share. In terms of product categories, the market is further subdivided into melamine (forming 40% of the market), polyurethane, polyester, nitrocellulose, water–based coatings, and French polish.

    • Overall expansion in the market from fiscals 2015-20 has been driven by growth from polyurethane (PU), polyester and water-based coatings, which has grown at 18-22% CAGR. This is owing to their superior quality and improved properties, which provide better durability and aesthetics
    • The melamine segment has been increasing at a modest 7% CAGR, driven by rising construction activity and growth in the furniture market boosted by construction capex grew at 4-5% CAGR during the period, driven by rising infrastructure expenditure and focus on affordable housing.

    • Demand from Adhesives and sealant market:
      • The ₹ 13,500 Cr. FY21 domestic adhesives and sealants market can be broadly categorized into industrial and consumer and bazaar segment. The industrial segment caters to B2B industries such as packaging, footwear, paints, automotive, etc. The retail segment caters to industries such as furniture/woodwork, building construction, arts and craft, electrical fittings, etc.
      • The ₹ 54,000 Cr. billion FY21 consumer adhesives industry clocked 8-10% CAGR between fiscals 2015 and 2020, driven by the rapidly growing furniture industry with booming real estate and rising income levels leading to an increased demand for interiors. Increased investment in building construction investment also contributed to its growth. The woodwork segment is the largest end-user for consumer adhesives, constituting ~55% of fiscal 2021 revenue. The market de-grew 1-2% in fiscal 2021, due to the pandemic-led reduced construction activity. However, the decline was restricted due to increased demand from the furniture segment due to work from home, which led to higher demand for home furniture.

      • Demand for wooden furniture to be driven by the anticipated growth in affordable housing, commercial construction, rising income levels, desire for better standard of living, favourable working-age population to influence spending, nuclearization of families, growing urban population, and better credit availability and increasing penetration of plastic money. Demand is expected to be further propelled by the initiatives of PMAY (Pradhan Mantri Awas Yojana), National Infrastructure Pipeline (NIP) and the Affordable Rental Housing Complex (ARHC) for increasing rural household.
      • The electronics industry uses adhesives for various applications, including conformal coatings, protecting terminal electrodes, bonding of surface mount devices, among many others. The electronics industry is one of the fastest-growing industries in India and, as per the Ministry of Electronics and IT, the market size of the industry is Rs 4,950-5,000 billion as of fiscal 2021. The industry is expected to grow at a strong pace of 19-24% over the medium term.
      • Overall, growth of the consumer adhesives industry is expected to moderate and log a CAGR of ~8% between fiscals 2022 and 2026 dominated by PVA due to its strong bonding strength.
    • Demand from printing inks:
      • The global printing ink market is estimated to be around $15-billion, while the Indian ink market is estimated to be around $ 1-billion (₹ 8,000 Cr.). The large six multinational ink companies have around 65% of the market share, and the rest 35% is with small- to medium-size Indian ink manufacturing companies. There are around 300 micro-, small- and medium-size ink manufacturers in India. Many of these manufacturers export their products to overseas markets, but merchant export is not more than 5% of manufacturing capacity.
      • The ink market in India saw a decline in demand for newspaper and commercial sheetfed inks post-pandemic, but the same is limping back very slowly to its past numbers. Packaging inks have shown a steady growth of about 18%-20% even during the pandemic, and it continues its growth trajectory. The usage of overprint varnishes (OPVs) has also increased hugely to add more protection and aesthetics to the printed material. UV and water-based inks have also seen a big jump in demand leading to the overall growth of the ink Industry.

    Key drivers

    • Demand from paints and coatings industry: Favourable economic indicators and rising per capita consumption (4.3kg in FY22) expected to boost growth in paint industry. Additionally, changing lifestyle, rising trends of neuclearisation is expected to reduce the size of the households, thus increasing the number of households and spurring growth in housing demand.
    • Demand from adhesives and sealant: Increasing government spending on residential and construction sector, demand for wooden furniture is anticipated to thrust demand for adhesives.
    • Demand from automobile industry: The growing need for lightweight, eco-friendly synthetic structures in the automotive industry is driving the phenolic resin market going forward. Automotive manufacturers are constantly using lightweight materials to improve fuel efficiency. Phenolic resins are used in the manufacturing of lightweight tires, brake pedals, and other under-the-hood automotive parts. According to the US Office of Energy Efficiency and Renewable Energy, a 10% reduction in the weight of an automobile can increase fuel efficiency by 6%-8%. Growth of lightweight materials in the automotive industry especially in the electric vehicle (EV) is propelling the phenolic resin market.


    The Indian synthetic resins market is partially fragmented in nature with the presence of various players in the market. Some of the major companies in India synthetic resins market is Jyoti Resin & Adhesives and Pidilite. Global peers include 3M, Covestro AG, Hexion, Huntsman Inte