Tainwala Chemicals & Plastics (India) Ltd (TAINWALCHM) AI Stock Analysis

• Market Cap: ₹1.83B
• Dividend Yield: 1.64%
• Average Volume (3M): 573.00
• Price to Earnings (P/E): 13.3
• Beta (1Y): 0.62
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IN
• Employees: 24
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Chemicals - Specialty
• EPS (TTM): 3.62
• Shares Outstanding: 9,363,863
• 10 Day Avg. Volume: 327
• 30 Day Avg. Volume: 573
• PEG Ratio: 19.78
• Price to Book (P/B): 1.36
• Price to Sales (P/S): 12.69
• P/FCF Ratio: 22.13
• 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: 63 Neutral
• Price Target: ₹222.00 ▲(13.18% Upside)
• Action: Reiterated Date: 02/11/26
• Date: Action: Reiterated 02/11/26

The score is primarily driven by improving recent financial results and a conservatively positioned, near debt-free balance sheet, which lowers financial risk. This is tempered by historically uneven profitability/cash flow and only modest ROE, while technical indicators are neutral-to-mixed and valuation/dividend support is moderate.

Positive Factors

Conservative Balance Sheet

Near-zero debt materially lowers financial risk and gives the company flexibility to fund working capital, opportunistic capex, or absorb raw-material shocks without refinancing. Over a 2-6 month horizon this supports stability through cycles and preserves optionality for growth.

Strong Recent Revenue & Profitability

A large, recent revenue gain with corresponding profit improvement suggests demand recovery or better commercial execution. If sustained, this scale lift can improve fixed-cost absorption and margin sustainability, supporting medium-term earnings quality and capacity utilization.

Improving Cash Generation

Operating and free cash flows aligning with net income indicates higher earnings quality and working-capital control in the latest year. Strong cash generation enhances self-funding for operations and reduces reliance on external capital over the coming months if the improvement persists.

Negative Factors

Volatile Operating Performance

History of negative and uneven operating cash flows and volatile operating profit implies earnings and cash conversion are not yet stable. This variability raises execution risk for sustaining margins and reinvestment needs, complicating capital planning over the medium term.

Low Return on Equity

Low single-digit ROE signals limited ability to convert a growing capital base into high returns, suggesting weak pricing power, low capital efficiency, or competitive pressures. Persistently modest ROE can constrain shareholder returns and limits reinvestment upside.

Small Scale & Limited Disclosure

Very small headcount and sparse disclosure on product mix or customer concentration indicate limited scale and transparency. This raises structural risks: higher customer concentration, weak bargaining power on input costs, and greater sensitivity to single-customer or raw-material disruptions.

Tainwala Chemicals & Plastics (India) Ltd Business Overview & Revenue Model

Company Description

Tainwala Chemicals and Plastics (India) Limited manufactures and sells extruded plastic sheets in India. The company operates in two segments, Plastic Sheets and Securities Trading. It offers PVC rigid, flexible, and corrugated sheets, as well as PVC foils; and polypropylene, talc-filled polypropylene, glass laminated polypropylene, polyethylene, polystyrene, acrylontrile, and copolymer sheets. The company is also involved in the securities trading business. Its products are used in the fabrication of industrial equipment, the lining of chemical tanks, signboards, automobiles, and white goods industries, as well as pollution control equipment. The company was incorporated in 1985 and is based in Mumbai, India.

How the Company Makes Money

Tainwala Chemicals & Plastics (India) Ltd Financial Statement Overview

Summary

Strong balance sheet strength (near-zero debt and growing equity/assets) supports a higher base score, and FY2025 showed a sharp revenue jump (~38% YoY) with improved profitability and cash conversion. Offsetting this, operating performance and cash flow have been volatile in prior years and returns on equity remain modest, reducing confidence in consistency.

Income Statement

Revenue has expanded meaningfully over the period, with a very strong jump in FY2025 (up ~38% YoY), indicating improving demand/scale. Profitability is mixed: the latest year shows healthy gross profit and strong net profit, but operating profit has been volatile in prior years (including periods of negative EBIT) and margins have not been consistently stable year-to-year. Overall, earnings power looks improved recently, but the track record shows uneven operating performance that tempers the score.

Balance Sheet

The balance sheet is conservatively positioned with essentially no debt across the reported years, which materially reduces financial risk and provides flexibility through cycles. Equity and total assets have grown strongly (notably into FY2025), supporting a sturdier capital base. The main drawback is modest returns on equity (low single-digits), suggesting the company is not yet converting its capital base into high returns despite the improved recent profitability.

Cash Flow

Cash generation is improving sharply in FY2025, with operating cash flow and free cash flow both strong and roughly matching reported net income, which is a positive quality signal. However, cash flow has been inconsistent historically, including multiple years of negative operating cash flow and free cash flow, pointing to volatility in working capital/operating conversion. The latest year is encouraging, but the uneven multi-year pattern keeps the score moderate.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	163.17M	164.17M	180.30M	128.34M	77.20M	64.68M
Gross Profit	33.09M	35.54M	4.07M	-11.85M	20.44M	11.48M
EBITDA	103.74M	66.79M	59.69M	43.42M	11.01M	1.94M
Net Income	74.04M	49.20M	48.15M	32.81M	3.69M	-3.25M
Balance Sheet
Total Assets	1.88B	1.67B	1.23B	994.45M	915.74M	1.00B
Cash, Cash Equivalents and Short-Term Investments	7.46M	16.77M	2.90M	8.50M	5.02M	6.21M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	164.03M	135.31M	56.55M	7.25M	13.26M	23.75M
Stockholders Equity	1.72B	1.54B	1.18B	987.20M	902.48M	979.32M
Cash Flow
Free Cash Flow	-48.30M	94.11M	8.39M	-66.29M	-27.26M	31.69M
Operating Cash Flow	-48.30M	94.14M	8.39M	-55.44M	-21.25M	36.64M
Investing Cash Flow	67.03M	-83.03M	-9.36M	54.51M	23.60M	-30.12M
Financing Cash Flow	-28.09M	-141.00K	-113.00K	-103.00K	-3.54M	-399.00K

Tainwala Chemicals & Plastics (India) Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TAINWALCHM	63 Neutral	₹1.83B	13.34	―	1.64%	―	―
RPPL	63 Neutral	₹1.16B	16.55	―	―	10.14%	73.18%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
BANSWRAS	62 Neutral	₹3.81B	7.04	―	0.88%	5.59%	-5.44%
KANPRPLA	62 Neutral	₹4.04B	9.74	―	0.52%	23.02%	―
ORIENTBELL	55 Neutral	₹3.98B	34.39	―	0.19%	-1.45%	849.26%

Tainwala Chemicals & Plastics (India) Ltd Corporate Events

Tainwala Chemicals & Plastics Files SEBI Dematerialisation Compliance Certificate

Tainwala Chemicals and Plastics (India) Limited has submitted a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended 31 December 2025. The certificate, issued by its registrar and share transfer agent MUFG Intime India Private Limited, confirms that all securities received for dematerialisation during the quarter were duly processed, listed on the appropriate stock exchanges, and that the corresponding physical certificates were verified, cancelled, and replaced in the company’s register of members with the depositories as the registered owners within the prescribed timelines, underscoring the company’s adherence to regulatory norms in handling shareholder securities.