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RATING

RECOMMENDATION

Strong Buy

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

ISIN

INE422F01017

Face Value

₹10.00

Total Share

41,72,300

Total number of shares in next financial year

Total Income

₹14,906.83 L

Profit After Tax

₹1,168.30 L

EPS

₹28.00

P/E

13.14

P/B

2.10

Market Capitalisation

₹153.54 Cr

Enterprise Value

-₹1,334.25 Cr

Book Value

₹174.99

Intrinsic Value

₹701.85

Dividend Yield

1.49 %

Earnings Yield

7.61 %

Sector

Materials

Sub-sector

Diversified Chemicals

Category

Growth Phase

Cashflow - Operations

-₹653.20 L

Cashflow - Financing

-₹188.19 L

Resins and Plastics Growth

Compounded Sales Growth

  • 6.14%

    1 Year

  • 4.55%

    3 Year

  • 5.17%

    5 Year

Pro Only

Compounded Profit Growth

  • 36.28%

    1 Year

  • 22.38%

    3 Year

  • 19.21%

    5 Year

Pro Only

Return On Equity

  • 15.14%

    1 Year

  • 15.92%

    3 Year

  • 14.62%

    4 Year

Pro Only

About Resins and Plastics

  • Resins and Plastics Ltd. (RPL) is one of India's leading synthetic resin manufacturers 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 commenced its operations in 1971 for manufacturing Alkyd Resins, Epoxy Resins, Foundry Resins, Ketonic Resins, and Phenolic Resins some of which are import substitutes. RPL's strength lies in its manufacturing and strong distribution network that spans across India. RPL has its own sales offices and branches across the country and also deals through a few major distributors across different regions.
  • 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.
  • Pragati Chemicals Limited (hereinafter referred to as ‘PCL’) 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

Merger

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 Revenue Segmentation

  • Synthetic Resins (Home Market)
  • Synthetic Resins (Foreign Market)

  • Resins and Plastics Product & Services

• Adhesives

• Coatings

• Printing Inks

• Insulating Varnishes

• Wire Enamels

• Lamination

• Construction

• Cosmetics

• Textiles and Foundries


  • Resins and Plastics Assets

The company's assets as on 31st March 2021.


Particulars(Amount in Rs. Lakhs)
Land Leasehold38.73
Buildings226.64
Plant and Equipment518.38
Furniture and Fixtures15.94
Vehicle and Office Equipments19.78
R&D Equipments52.41
Software and License5.57


  • Resins and Plastics Industry Overview

Industry Statistics

  • The plastic industry in India made a promising beginning in 1957 with the production of polystyrene. Thereafter, significant progress has been made, and the industry has grown and diversified rapidly. The industry spans the country and hosts more than 2,000 exporters. It employs about 4 million people and comprises more than 30,000 processing units, 85-90% of which are small and medium-sized enterprises.
  • The India Epoxy Resins Market is projected to register a CAGR of over 6% during the forecast period (2021-2026).
  • The market was negatively impacted due to COVID-19 in 2020. Owing to the pandemic scenario, the country went into lockdown. This affected various industries such as paints and coatings, adhesives and sealants, electrical and electronics, and others due to supply chain disruptions, work stoppages, and labor shortages. The automotive production witnessed a 25% decline in 2020 over the previous year, thereby impacting the demand for epoxy resins from the automotive paints and coatings industry. However, the condition is expected to recover in 2021, thereby restoring the growth trajectory of the market over the forecast period.
  • Over the medium term, strong growth of the construction industry in the country is expected to drive the market during the forecast period. The construction industry is the second-largest industry in India, with a GDP contribution of about 9%. The construction industry slowed down in FY 2020-2021 due to COVID-19, but a major share of projects in commercial space is likely to continue even during this period, as these include either public-private partnership (like smart city) projects or public projects, which are already budgeted. 
  • On the flipside, declining automotive industry is expected to hinder the growth of the market.
  • Paints and Coatings segment is projected to dominate the market through the forecast period.
  • The Indian epoxy resins market is partially fragmented in nature with the presence of various players in the market. Some of the major companies in India epoxy resins market includes 3M, Covestro AG, Hexion, Huntsman International LLC, Olin Corporation, among others.

Government Initiatives

The Plastics Export Promotion Council (PLEXCONCIL) is the apex government body for the promotion of exports by the Indian plastics industry. The organization acts as an interface between the exporting community and the Government of India, and also sponsors delegations from overseas to India.

Resins and Plastics Strengths

  • Resins and Plastics manufactures Alkyd Resins, Epoxy Resins, Foundry Resins, Ketonic Resins, and Phenolic Resins some of which are import substitutes.
  • In the current Financial Year, manufacturing improvement, higher production, reduce wastages, improve quality standards, increased sales with a focus on Polyamide, Acrylics and Polyester, strengthen R&D towards existing products and new products with value added contribution, generate alternate supplier and low-cost sources, improve safety compliance and roll out EHS drive within organization, would be the major thrust areas.
  • In Recent years a lot of Modification of manufacturing facilities to improve process technology is done in order to get an edge in production from the company’s competitors.

Resins and Plastics Shortcomings

  • In view of COVID-19, Central and State Governments has imposed severe lockdown, this has forced company to stop production and also adversely affected demand for a few months during the Financial Year 2020-21.

Resins and Plastics Opportunities

  • In the coming years, The Company is focusing on expanding its wings further across Asia, Africa, and Middle East and South East Asian countries.
  • RPL's focus in the coming years will be to develop resins for the new generation. It will focus not only on the traditional products like 'Alkyds' but invest considerable financial resources and time on developing resins that are eco-friendly and moving along with the world trends.
  • Focus on research and innovation projects will continue and this will enable launch of improved as well as new products of superior quality in the market to meet clients’ expectations/demands.

Resins and Plastics Threats

  • Oil price volatility is likely to have a negative impact on the plastic material and resins market as significant decline and increase in oil prices negatively impacts the government and consumer spending.
  • Potential Third Wave of Covid-19 could have another slowdown in the economy which would eventually lead to slowdown in Plastic and Resins Sector.
Resins and Plastics Rating

  • RECOMMENDATION

    Strong Buy

  • Resins and Plastics Detail Info

Industry Statistics

PRIVATE LIMITED

Registered In

India

Registered Date

22/12/1960

Planify Ticker

res&plasdtc

Reg Office: A-8 Marol Industrial Estate of MIDC, Cross Road B, Street No.5, Andheri (East), Mumbai 400093.

Website: http://www.resplast.com/

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