Solve Plastic Products share price & results
- Mar 2026
- Jun 2026
Kerala-based manufacturer of rigid PVC electrical conduits, uPVC/CPVC water pipes and fittings, HDPE tanks and hoses under the BALCO brand
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 23.8 | +11.1% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 3.5 | +17.9 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 0.02 | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. | |
| Return on equity | +71.0 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Free cash flow margin | -1.05 | +8.8 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | +25.7 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. |
Price
Performance −39.9% 1Y
1Y: ₹28.45 on 24 Oct 2025 → ₹17.1. High ₹31.4 (30 Apr 2026), low ₹13.4 (30 Mar 2026).
- Previous close
- ₹17.1
- Market cap
- ₹8 Cr
- 52-week range
- ₹13.4 – ₹31.4
- One year
- −38.93%
- Price to earnings (FY ending Mar 2026)
- 18.91×
- Return on equity (FY ending Mar 2026)
- 4.31%
Overview
- Symbol
- NSE:BALCO
- Sector
- Capital Goods
- Industry
- Industrials
- Exchange
- NSE
- Currency
- INR
What Solve Plastic Products Ltd does
Based on the company's own presentations, annual report and earnings calls.
Solve Plastic Products Ltd, trading under the BALCO brand, manufactures rigid PVC electrical conduits and junction boxes, uPVC and CPVC water pipes and fittings, HDPE 3-layer water tanks, garden and suction hoses, HDPE corrugated flexible conduit, and solvent cement across four plants in Kerala and Tamil Nadu. It sells these piping and conduit products for residential, commercial and industrial use to customers spanning telecom, energy, infrastructure, healthcare, IT and defense, distributing through channel partners and an enrolled electrician network.
Segments
- Electric Conduits
- Water Pipes & Fittings
- Water Tanks
- Hoses
- Solvent Cement
- Manufacturing plants
- 4 (Punalur, Edamon-Kollam, Shencottah-Tamil Nadu, Kannur)
- Product categories
- 7 (electric conduits, uPVC pipes & fittings, CPVC pipes & fittings, HDPE water tanks, solvent cement, hoses, corrugated conduit)
- Electricians enrolled (Royal Electricians Group)
- ~6,000
- Electricians' meets conducted (FY2024-25)
- ~120
- ZED Gold certified plants
- 2 (Shencottah, Kannur)
- Quality certifications
- ISI, ISO 9001:2015, ZED Gold
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +101% (quarter to mar 2026 against mar 2025).
| Line item | Sept 2023 | Mar 2024 | Sept 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Sales | 24 | 23 | 20 | 21 | 22 | 24 |
| Expenses | 23 | 21 | 21 | 24 | 21 | 23 |
| Operating profit | 1 | 2 | -1 | -3 | 1 | 1 |
| Operating margin | 3.9% | 8.1% | −4.3% | −14.4% | 5.6% | 3.5% |
| Other income | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 1 | 1 | 1 | 0 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 1 | 0 | 0 |
| Profit before tax | 0 | 1 | -2 | -4 | 1 | -0 |
| Tax rate | −62.1% | 17.2% | 11.4% | −24.5% | 36.9% | −133.3% |
| Net profit | 0 | 1 | -2 | -3 | 0 | 0 |
| EPS (₹ per share) | 1.53 | 3.13 | -4.46 | -6.50 | 0.96 | 0.05 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 3 | 3 | 3 | 4 | 4 | 4 |
| Reserves | -2 | -1 | 1 | 6 | 6 | 6 |
| Borrowings | 12 | 12 | 12 | 10 | 11 | 11 |
| Other liabilities | 5 | 5 | 5 | 4 | 8 | 8 |
| Total liabilities | 18 | 19 | 22 | 24 | 29 | 29 |
| Fixed assets | 5 | 5 | 5 | 6 | 6 | 6 |
| Capital work in progress | 0 | 0 | 1 | 0 | 2 | 3 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 13 | 14 | 16 | 18 | 21 | 21 |
| Total assets | 18 | 19 | 22 | 24 | 29 | 29 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 2 | 5 | 2 | 2 | -3 | 3 |
| Cash from investing | -0 | -1 | -1 | -2 | -1 | -4 |
| Cash from financing | -2 | -5 | -1 | -0 | 7 | 0 |
| Net cash flow | 0 | 0 | -0 | 0 | 3 | 0 |
| Free cash flow | 2 | 5 | 1 | 0 | -4 | -0 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 45 | 30 | 26 | 40 | 40 | 36 |
| Inventory days | 80 | 52 | 55 | 92 | 72 | 107 |
| Days payable | 21 | 26 | 11 | 31 | 18 | 68 |
| Cash conversion cycle | 104 | 56 | 70 | 101 | 95 | 75 |
| Working capital days | 1 | -13 | -7 | 4 | 20 | -7 |
| Return on capital employed | — | 6.1% | 18.8% | 19.1% | −24.7% | 7.9% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Ownership
Who owns it
Promoters hold 63.35% as of Jun 2026.
- Promoters 63.35%
- Public 36.65%
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- +0.22 pp 1.24% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Solve Plastic Products Ltd above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| 40.93% | unchanged | |
| 9.16% | unchanged | |
| 4.07% | unchanged | |
| 2.15% | unchanged | |
| 1.73% | unchanged | |
| 1.68% | unchanged | |
| 1.24% | +0.22 pp | |
| 1.14% | unchanged | |
| 1.14% | unchanged | |
| 1.14% | unchanged | |
| 1.14% | unchanged | |
| 1.10% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
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