Sah Polymers Ltd. (SAH) AI Stock Analysis

• Market Cap: ₹2.50B
• Dividend Yield: 0.58%
• Average Volume (3M): 1.59K
• Price to Earnings (P/E): 356.6
• Beta (1Y): 0.65
• Revenue Growth: 12.89%
• EPS Growth: 26.50%
• Country: IN
• Employees: 132
• Sector: Basic Materials
• Sector Strength: 73
• Industry: Packaging & Containers
• EPS (TTM): 0.31
• Shares Outstanding: 25,796,000
• 10 Day Avg. Volume: 525
• 30 Day Avg. Volume: 1,586
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• 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: ₹110.00
• Price Target Upside: 6.90% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 52 Neutral
• Price Target: ₹110.00 ▲(6.90% Upside)

Sah Polymers Ltd. has a moderate overall stock score driven by strong financial performance but is weighed down by technical indicators suggesting bearish momentum and a high P/E ratio indicating overvaluation. The lack of dividend yield and absence of earnings call data further impact the score.

Sah Polymers Ltd. Business Overview & Revenue Model

Company Description

Sah Polymers Ltd. (SAH) is a leading manufacturer and exporter of woven polypropylene bags and flexible intermediate bulk containers (FIBCs) based in India. The company operates in the packaging industry, providing high-quality, durable packaging solutions to various sectors including agriculture, chemicals, and construction. Its core products include a wide range of polypropylene bags and FIBCs, which are used for storing and transporting bulk goods efficiently and safely.

How the Company Makes Money

Sah Polymers Ltd. generates revenue primarily through the manufacturing and sale of its polypropylene and FIBC products. The company's key revenue streams include domestic sales within India and exports to international markets, leveraging its strong distribution network and customer relationships. By providing customized packaging solutions tailored to specific industry needs, Sah Polymers enhances its value proposition and sustains long-term contracts with major clients. The company also benefits from strategic partnerships with raw material suppliers, ensuring cost-effective production processes that contribute to its profitability.

Sah Polymers Ltd. Financial Statement Overview

Summary

Sah Polymers Ltd. shows strong revenue growth and a stable equity base, but faces challenges with low net profit margins and cash flow volatility. The company manages its debt well but needs to improve cash conversion and profitability.

Income Statement

Sah Polymers Ltd. has shown a strong revenue growth trajectory over the years, with notable increases in total revenue from 2021 to 2025. The gross profit margin has been healthy, indicating effective cost management in production. However, net profit margins have been relatively low, which suggests challenges in managing other operating expenses or financial costs. The EBIT and EBITDA margins indicate a stable operational efficiency, although there was a dip in EBITDA margin in 2025 due to increased other expenses.

Balance Sheet

The company's balance sheet reflects a stable financial position with an increasing stockholders' equity trend, signifying retained earnings and potential reinvestment into the business. The debt-to-equity ratio has been manageable, although an increase in total debt raises potential leverage risk. The equity ratio shows that the company has maintained a significant proportion of its financing through equity, which is a positive indicator of financial stability.

Cash Flow

Cash flow from operations has fluctuated significantly, indicating volatility in cash generation from core business activities. The free cash flow has improved in recent years, with positive growth in 2025, suggesting better capital expenditure management. However, the operating cash flow to net income ratio highlights inconsistencies in converting earnings into cash, which could be a concern for liquidity.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.29B	1.29B	1.09B	953.99M	805.11M	545.81M
Gross Profit	487.14M	543.68M	318.41M	380.50M	238.80M	159.89M
EBITDA	49.79M	40.65M	69.30M	88.68M	79.21M	35.41M
Net Income	2.02M	2.02M	7.97M	34.15M	42.03M	12.72M
Balance Sheet
Total Assets	1.28B	1.28B	1.31B	1.26B	686.67M	405.79M
Cash, Cash Equivalents and Short-Term Investments	45.41M	45.41M	73.38M	215.83M	18.98M	19.43M
Total Debt	282.97M	282.97M	305.92M	250.48M	305.38M	137.92M
Total Liabilities	404.78M	404.78M	444.29M	385.77M	420.19M	204.91M
Stockholders Equity	872.43M	872.43M	839.91M	875.82M	240.47M	200.88M
Cash Flow
Free Cash Flow	0.00	18.45M	-55.88M	-470.99M	-85.61M	-9.80M
Operating Cash Flow	0.00	75.58M	1.91M	-169.84M	-7.92M	13.89M
Investing Cash Flow	0.00	-55.16M	-45.14M	-240.06M	-107.94M	-23.31M
Financing Cash Flow	0.00	-53.98M	-23.71M	456.06M	111.11M	8.57M

Sah Polymers Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 102.90
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SAH, the sentiment is Neutral. The current price of 102.9 is below the 20-day moving average (MA) of 109.50, below the 50-day MA of 115.06, and above the 200-day MA of 95.57, indicating a neutral trend. The MACD of -4.70 indicates Positive momentum. The RSI at 36.15 is Neutral, neither overbought nor oversold. The STOCH value of 29.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:SAH.

Sah Polymers Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.24B	6.18	0.71%	2.90%	3.45%	-36.02%
SAH	52 Neutral	₹2.50B	356.55		0.58%	12.89%	26.50%
TOKYOPLAST	52 Neutral	₹1.19B	116.91		―	4.73%	-23.49%
MCL	51 Neutral	₹1.29B	27.92		―	149.86%	36.89%
FLEXITUFF	43 Neutral	₹833.00M	0.26		―	-57.54%	-143.50%
TECILCHEM	―	₹345.52M	―		―	―	―
TIRUPATI	―	₹5.07B	35.34		―	―	―