Plastiblends India Limited (PLASTIBLEN) AI Stock Analysis

• Market Cap: ₹3.48B
• Dividend Yield: 1.53%
• Average Volume (3M): 2.23K
• Price to Earnings (P/E): 16.5
• Beta (1Y): 1.34
• Revenue Growth: -2.17%
• EPS Growth: -5.39%
• Country: IN
• Employees: 477
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): 2.49
• Shares Outstanding: 25,989,200
• 10 Day Avg. Volume: 2,214
• 30 Day Avg. Volume: 2,225
• PEG Ratio: -4.51
• Price to Book (P/B): 1.09
• Price to Sales (P/S): 0.60
• P/FCF Ratio: -183.79
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: ₹141.00 ▼(-14.26% Downside)
• Action: Downgraded Date: 11/07/25
• Date: Action: Downgraded 11/07/25

Plastiblends India Limited's stock score is primarily influenced by its stable financial performance, despite some operational inefficiencies. The technical analysis indicates bearish momentum, which could pose short-term challenges. Valuation is fair, but the stock's attractiveness is limited by its current market momentum.

Positive Factors

Balance Sheet Strength

Low leverage and a high equity ratio provide durable financial flexibility, reducing refinancing and liquidity risk. This strength supports investment in capex, raw-material procurement and cyclical resilience, enabling the company to withstand industry swings and fund strategic initiatives over months.

Stable Gross Profitability

A sustained ~25% gross margin offers a structural cushion against input-cost volatility for a compounding business. This margin base supports investment in specialty R&D and pricing flexibility for higher-value masterbatches, helping preserve long-term gross profitability despite operating pressure.

Diversified End-Markets & Specialty Mix

Serving multiple end-markets and providing customized masterbatches creates durable demand diversification and customer stickiness. Specialty formulations drive higher realizations and reduce reliance on any single industry, smoothing revenue cycles and supporting sustainable product-margin differentiation.

Negative Factors

Operating Margin Compression

Compressing operating margins reduce the firm's ability to absorb raw-material cost swings and invest in margin-accretive opportunities. Over a 2-6 month horizon this structural efficiency decline can erode cash generation, constrain reinvestment and weaken competitive pricing power.

Deteriorating Free Cash Flow

Negative free cash flow signals weakening cash conversion of earnings, increasing reliance on external financing for capex or working capital. Persistently weak FCF undermines dividend sustainability, limits strategic flexibility and raises solvency concerns over a medium-term horizon.

Declining Revenue and EPS Growth

Material declines in revenue and EPS growth point to demand, pricing or mix headwinds that are not transient. Continued negative top- and bottom-line trends impair reinvestment capacity, pressure margins and weaken long-term return on equity absent operational improvements.

Plastiblends India Limited Business Overview & Revenue Model

Company Description

Plastiblends India Limited manufactures and sells color and additive masterbatches, and thermoplastic compounds for the plastic processing industry in India. The company's products include white, black, color, additive, filler, and PET masterbatches, as well as conductive compounds and engineering polymers. It serves the agriculture, appliance, automotive and transportation, healthcare and pharma, packaging, textiles, and wire and cable markets, as well as electrical, electronics, and telecommunication markets. The company also exports its products to approximately 40 countries. Plastiblends India Limited was incorporated in 1991 and is headquartered in Mumbai, India.

How the Company Makes Money

Plastiblends primarily makes money by selling polymer compounds and masterbatches to plastic product manufacturers and processors. Revenue is generated on a per-order basis from (1) standard and customized masterbatches (including color and additive masterbatches) that are blended into base polymers to impart specific properties (e.g., coloration, UV/heat stability, flame retardancy, antistatic behavior), and (2) compounded polymer materials formulated to meet customer specifications for processing and end-use performance. The company’s earnings are driven by sales volumes to industrial customers, product mix (higher-value customized/specialty formulations typically command better realizations than commoditized products), and the spread between raw material costs (polymers and specialty additives) and selling prices. Key factors influencing revenue and profitability include demand from end-user industries, pricing power and competitive intensity in plastics compounding, and volatility in polymer/additive input costs that can affect margins depending on pass-through timing. Specific details on significant partnerships, customer concentration, or contractual arrangements are null.

Plastiblends India Limited Financial Statement Overview

Summary

Plastiblends India Limited shows financial stability with a strong balance sheet and consistent profitability. However, declining operating margins and cash flow inefficiencies are concerns that need addressing to sustain growth.

Income Statement

Plastiblends India Limited demonstrated consistent profitability with a strong Gross Profit Margin averaging around 25% over the years. However, recent EBITDA and EBIT margins have shown signs of compression, indicating pressure on operating efficiency. Revenue growth has been moderate, with a slight decline in the most recent year. This suggests stability but with potential room for operational improvement.

Balance Sheet

The balance sheet is robust, characterized by a low Debt-to-Equity Ratio, indicating prudent financial leverage. The company maintains a high Equity Ratio, showcasing financial stability. However, Return on Equity has been decreasing, which raises concerns about the efficiency of equity utilization.

Cash Flow

Cash flow analysis reveals a decline in free cash flow, with the most recent figures turning negative. Although operating cash flow remains positive, the Free Cash Flow to Net Income Ratio has deteriorated, pointing towards potential issues in cash generation relative to earnings. The company needs to focus on improving cash flow management.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	7.76B	7.80B	8.02B	7.69B	7.14B	5.77B
Gross Profit	1.82B	1.99B	1.94B	820.69M	1.69B	1.76B
EBITDA	582.55M	519.75M	619.00M	541.17M	681.68M	720.45M
Net Income	326.44M	334.42M	345.25M	268.51M	366.99M	373.47M
Balance Sheet
Total Assets	5.26B	5.07B	4.82B	4.84B	5.18B	4.53B
Cash, Cash Equivalents and Short-Term Investments	321.85M	378.31M	487.27M	289.51M	79.26M	89.50M
Total Debt	245.79M	47.88M	78.12M	87.13M	466.94M	342.63M
Total Liabilities	906.56M	793.32M	770.79M	894.48M	1.36B	1.23B
Stockholders Equity	4.35B	4.28B	4.05B	3.95B	3.81B	3.30B
Cash Flow
Free Cash Flow	-208.79M	-25.36M	257.65M	641.83M	97.57M	271.31M
Operating Cash Flow	-6.31M	88.61M	380.63M	723.10M	154.45M	481.44M
Investing Cash Flow	-160.83M	62.54M	-274.38M	-261.77M	-47.60M	-272.58M
Financing Cash Flow	-71.75M	-119.00M	-110.20M	-452.67M	-117.08M	-194.38M

Plastiblends India Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 164.45
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PLASTIBLEN, the sentiment is Negative. The current price of 164.45 is above the 20-day moving average (MA) of 140.10, above the 50-day MA of 149.15, and below the 200-day MA of 176.96, indicating a bearish trend. The MACD of -5.09 indicates Positive momentum. The RSI at 39.87 is Neutral, neither overbought nor oversold. The STOCH value of 29.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:PLASTIBLEN.

Plastiblends India Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PREMIERPOL	77 Outperform	₹6.29B	11.68	―	0.37%	3.39%	6.48%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
PLASTIBLEN	61 Neutral	₹3.48B	16.55	―	1.53%	-2.17%	-5.39%
KUANTUM	60 Neutral	₹6.83B	20.52	―	3.24%	-9.47%	-54.96%
KRITI	44 Neutral	₹3.72B	-229.02	―	0.22%	-19.06%	-175.93%
PEARLPOLY	44 Neutral	₹266.16M	-5.93	―	―	―	―