BALCO
Solve Plastic Products financials
- Market cap
- ₹8 Cr
- Sector
- Capital Goods
What Solve Plastic Products Ltd does
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
Quarterly results
Q4 FY26: revenue up 5.1%, net profit down 97.9% against the same quarter last year.
| Line item | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|
| Revenue | 24 | 23 | 20 | 21 | 22 −7% | 24 +5% |
| EBITDA | 1 | 2 | -1 | -3 | 1 +32% | 1 −55% |
| Net profit | 0 | 1 | -2 | -3 | 0 −11% | 0 −98% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −34.3% 1Y
1Y: ₹30.35 on 8 Sept 2025 → ₹19.95. High ₹31.85 (18 Sept 2025), low ₹13.4 (30 Mar 2026).
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹4 Cr | ₹4 Cr |
| Reserves | ₹-2 Cr | ₹-2 Cr | ₹-1 Cr | ₹1 Cr | ₹6 Cr | ₹6 Cr |
| Borrowings | ₹15 Cr | ₹12 Cr | ₹12 Cr | ₹12 Cr | ₹11 Cr | ₹11 Cr |
| Other liabilities | ₹5 Cr | ₹5 Cr | ₹5 Cr | ₹5 Cr | ₹8 Cr | ₹8 Cr |
| Total liabilities | ₹21 Cr | ₹18 Cr | ₹19 Cr | ₹22 Cr | ₹29 Cr | ₹29 Cr |
| Fixed assets | ₹6 Cr | ₹5 Cr | ₹5 Cr | ₹5 Cr | ₹6 Cr | ₹6 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹2 Cr | ₹3 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹16 Cr | ₹13 Cr | ₹14 Cr | ₹16 Cr | ₹21 Cr | ₹21 Cr |
| Total assets | ₹21 Cr | ₹18 Cr | ₹19 Cr | ₹22 Cr | ₹29 Cr | ₹29 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
The ownership split has held steady since Mar 2025. The shareholder count shrank 15% to 573.
- Promoters
- 63.4%
- Public
- 36.6%
Since Mar 2025
- Promoters +0.02 pp
- Public −0.02 pp
How it drifted, 5 quarters
Ownership split by quarter, oldest first. Sep '24: Promoters 63.3%, Public 36.7%.Mar '25: Promoters 63.3%, Public 36.7%.Sep '25: Promoters 63.3%, Public 36.7%.Mar '26: Promoters 63.4%, Public 36.6%.Jun '26: Promoters 63.4%, Public 36.6%.
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.
- Rohit Dhirajlal Mehta +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 |
|---|---|---|
| Sudheer Kumar Balakrishnan Nair | 40.93% | unchanged |
| Vinodkumar Bhargavannair | 9.16% | unchanged |
| Susil Balakrishnan Nair | 4.07% | unchanged |
| Balakrishnan Nair | 2.15% | unchanged |
| Sunitha Vinodkumar | 1.73% | unchanged |
| Anabel Thomas | 1.68% | unchanged |
| Rohit Dhirajlal Mehta | 1.24% | +0.22 pp |
| Gowri Rajan Nair | 1.14% | unchanged |
| Govind Vinodkumar | 1.14% | unchanged |
| Devi Venkataraman | 1.14% | unchanged |
| Nandini Rajan Nair | 1.14% | unchanged |
| Prasanth Vijayan Palakandy | 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.
Learn to analyse Solve Plastic Products Ltd
Guides on how to read this kind of business and the numbers that matter.