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Swing Capital

Kanpur Plastipack Ltd

NSE: KANPRPLA BSE: 507779

Incorporated in 1971, Kanpur Plastipack Ltd manufactures HDPE /PP Woven Sacks, PP Box Bags, FIBC, Fabrics and High Tenacity PP MFY[1]

₹189
52W: ₹151 — ₹250
PE 11.9 · Book ₹111 · +70% vs book
Market Cap₹453 Cr
Stock P/E11.9Price to Earnings
ROCE17.2%Return on Capital
ROE16.2%Return on Equity
Div. Yield0.48%Face Value ₹10

Strengths

  • +Company has reduced debt.

Weaknesses

  • −The company has delivered a poor sales growth of 9.75% over past five years.
  • −Company has a low return on equity of 9.73% over last 3 years.

Shareholding Pattern

Promoters68.12%
FIIs0%
DIIs1.48%
Public30.39%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters66.74%66.74%66.74%66.74%67.26%▲0.567.63%▲0.467.63%68.12%▲0.5
FIIs0%0%0%0%0.05%▲0.10.03%▼0.00%▼0.00%
DIIs0%0%0%0%0%0.97%▲1.01.11%▲0.11.48%▲0.4
Public33.25%33.26%▲0.033.25%▼0.033.27%▲0.032.68%▼0.631.37%▼1.331.26%▼0.130.39%▼0.9

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales123150132152161168180165192179
Expenses126142129142146151167150177158
Operating Profit-4839151713151421
OPM %-3%5%2%6%9%10%7%9%7%12%
Net Profit-73-117367915
EPS ₹-3.141.21-0.550.673.321.312.473.123.846.08

AI Insights

Revenue Trend

Mar 2026 revenue at ₹717Cr, up 14.4% YoY. OPM at 9%.

Debt Position

Borrowings at ₹112Cr. Debt-to-equity ratio: 0.46x. Healthy balance sheet.

Capex Cycle

CWIP at ₹9Cr (5% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 1.48% (+1.48pp change). FIIs: 0% (+0.00pp change). Promoters hold 68.12%.

Margin & Efficiency

ROCE declining from 19% (Mar 2015) to 17% (Mar 2026). Working capital days: 45.

Valuation

PE 11.9x with 17.2% ROCE. Price is 70% above book value of ₹111. Dividend yield: 0.48%.

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