UFLEX Limited
NSE: UFLEXPackaging
Share price
₹621.70
+0.75% close of 9 Oct 2026
Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.
Business score
How strong the business is, in one number. The parts behind it are in Pro.
62
out of 100 · worked out 9 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹4,476 Cr
P/E ratio
6.5
P/B ratio
0.6
ROCE
7.0%
ROE
4.3%
Dividend yield
0.5%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Sales grew 10.4% over the past year, and 13.2% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales slipped from 16.4% to 13.3% over the last four years.
Whether it grew faster than its sector
It grew 13.2% a year against a sector median of 10.6% — 2.6 percentage points faster.
Room to re-rate, or risk of de-rating
At 6.5× earnings against a market that pays 24.1× across 2199 companies we can price. Its own industry sits at 20.5×, across 5 companies. It is against its own five-year median of 10.5×, the 42nd percentile of its own range.
Whether growth justifies the valuation
Its earnings are falling, so growth cannot justify the price.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| UFLEX Limited — this one | -17%/yr | 6.5× | — |
| EPL Limited | 22%/yr | 18.1× | ₹0.82 |
| AGI Greenpac Limited | — | 13.7× | — |
| TCPL Packaging Limited | 3%/yr | 30.8× | ₹10.3 |
| Polyplex Corporation Limited | -60%/yr | 20.5× | — |
| Jindal Poly Films Limited | -57%/yr | 48.2× | — |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Packaging), it ranks 23 of 36 on returns, 11 of 35 on growth, 14 of 36 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
No durable advantage shows in the numbers: it earns 7.0% on capital, ahead of 36% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
No — Over the last five years it made ₹5044 crore of cash from the business but spent ₹7644 crore on plant and equipment, ₹2600 crore more than it made; the gap was mostly borrowed — borrowings rose from ₹4787 crore to ₹10152 crore. And the profit is real: of every 100 rupees it reported over 12 years, about 253 arrived as cash — well above the profit; depreciation and interest are the reason, not a windfall. Its cash comes back faster than it used to: it went from being waiting 56 days for its cash to waiting 12 days for its cash.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
9 of 10 checks clear · 90%
Latest result · Q1 FY27
What the last results showed. Whether management kept its word is in Pro.
Revenue up 38% and quarterly profit at Rs 423 crore against Rs 58 crore a year ago, with 35% growth now promised for the full year
Announced 14 Aug 2026 · Consolidated · Unaudited
Revenue
₹5,366 Cr
Net profit
₹423 Cr
EPS
₹58.62
Earnings call transcript · 17 Aug 2026
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹4,476 Cr
- Prev close
- ₹621.70
- 52w High
- ₹724
- 52w Low
- ₹330
- Enterprise value
- ₹13,556 Cr
- Beta
- 1.2
- Price CAGR 1y
- 16.0%
- Price CAGR 3y
- 14.0%
- Price CAGR 5y
- 1.0%
- Price CAGR 10y
- 7.0%
Ratios
- Return on assets
- 1.4%
- PEG ratio
- -0.4
- P/E ratio
- 6.5
- P/B ratio
- 0.6
- EV / EBITDA
- 5.9
- Industry P/E
- 17.4
- ROCE
- 7.0%
- ROCE 5y average
- 9.6%
- ROE
- 4.3%
- Debt / Equity
- 1.2
- Interest coverage
- 1.5
- Dividend yield
- 0.5%
- ROE 3y average
- 4.0%
- ROE last year
- 4.0%
Annual P&L
- Annual revenue
- ₹15,401 Cr
- Annual profit
- ₹317 Cr
- Operating margin
- 12.0%
- Net profit margin
- 2.1%
- EBITDA margin
- 12.0%
- Sales growth 3y
- 1.7%
- Sales growth 5y
- 11.6%
- Profit growth 3y
- -17.0%
- Profit growth 5y
- -17.0%
- EPS
- ₹43.9
- Sales growth TTM
- 10.0%
- Profit growth TTM
- 143.0%
- Dividend payout
- 7.0%
Quarter P&L
- Sales latest quarter
- ₹5,366 Cr
- Profit latest quarter
- ₹423 Cr
- YoY quarterly sales growth
- 37.6%
- YoY quarterly profit growth
- 629.3%
- OPM latest quarter
- 16.6%
Balance Sheet
- Book Value
- ₹1,128
- Face Value
- ₹10.0
- Total debt
- ₹10,152 Cr
- Total cash
- ₹1,072 Cr
- Borrowings
- ₹10,152 Cr
- Reserves / Equity
- 111.8
Cash Flow
- Operating cash flow
- ₹992 Cr
- Free cash flow
- -₹1,050 Cr
- FCF yield
- -40.8%
- Net cash flow
- -₹82 Cr
Shareholding
- Promoter holding
- 44.6%
- FII holding
- 10.0%
- DII holding
- 0.6%
- Public holding
- 44.8%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| EPL Ltd | 231.70 | 18.1 | 7,433 | 1.10 | 100.6 | -1.4 | 1,387.9 | 25.3 | 17.8 |
| AGI Greenpac | 780.20 | 13.7 | 5,048 | 0.88 | 99.6 | 12.1 | 785.3 | 14.2 | 19.5 |
| Uflex | 615.00 | 6.4 | 4,441 | 0.48 | 423.1 | 629.6 | 5,366.0 | 37.6 | 7.0 |
| TCPL Packaging | 3,964.85 | 29.9 | 3,608 | 0.61 | 37.6 | 65.5 | 474.0 | 15.8 | 17.9 |
| Polyplex Corpn | 998.35 | 20.2 | 3,134 | 0.29 | 171.1 | 571.4 | 2,253.6 | 29.6 | 0.9 |
| Jindal Poly Film | 635.20 | 47.5 | 2,781 | 0.00 | 107.2 | 39.1 | 695.8 | -23.8 | -2.0 |
| XPRO India | 1,088.00 | 78.2 | 2,554 | 0.18 | 7.6 | 244.9 | 174.4 | 20.4 | 3.8 |
| Median | 169.85 | 19.8 | 536 | 0.23 | 8.7 | 42.4 | 139.2 | 22.5 | 12.9 |
Competes with: AGI Greenpac Limited, AMD Industries Limited, Aeroflex Neu Limited, Antarctica Limited, Arrow Greentech Limited, B&B Triplewall Containers Limited, COSMO FIRST LIMITED, Commercial Syn Bags Limited, Dhunseri Ventures Limited, EPL Limited, Emmbi Industries Limited, Ester Industries Limited, Gujarat Raffia Industries Limited, Haldyn Glass Limited, Hitech Corporation Limited, Huhtamaki India Limited, Jindal Poly Films Limited, Kanpur Plastipack Limited, Knack Packaging Limited, Mold-Tek Packaging Limited, Nahar Poly Films Limited, Oricon Enterprises Limited, Orient Press Limited, Polyplex Corporation Limited, Polyspin Exports Limited, Pyramid Technoplast Limited, Rajshree Polypack Limited, Rollatainers Limited, Shree Rama Multi-Tech Limited, Shree Tirupati Balajee Agro Trading Company Limited, Shri Jagdamba Polymers Limited, TCPL Packaging Limited, TPL Plastech Limited, Worth Peripherals Limited, Xpro India Limited
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,258 | 3,369 | 3,309 | 3,426 | 3,654 | 3,833 | 3,735 | 3,814 | 3,901 | 3,832 | 3,612 | 4,056 | 5,366 |
| Expenses | 2,975 | 2,984 | 2,978 | 3,060 | 3,245 | 3,441 | 3,281 | 3,404 | 3,447 | 3,446 | 3,176 | 3,472 | 4,477 |
| Material Cost | 2,345 | 2,366 | 2,243 | 2,054 | 2,214 | 3,063 | |||||||
| Change in Inventories | -9.55 | -22 | 56 | 20 | 74 | -82 | |||||||
| Purchases of Stock-in-Trade | 7.64 | 11 | 15 | 11 | 20 | 21 | |||||||
| Employee Cost | 354 | 380 | 394 | 383 | 400 | 475 | |||||||
| Other Expenses | 704 | 708 | 734 | 705 | 763 | 1,000 | |||||||
| Operating Profit | 284 | 386 | 332 | 366 | 408 | 392 | 454 | 410 | 454 | 386 | 436 | 584 | 889 |
| OPM % | 8.71 | 11 | 10 | 11 | 11 | 10 | 12 | 11 | 12 | 10 | 12 | 14 | 17 |
| Other Income | -362 | 20 | -64 | -319 | -149 | -73 | 65 | 132 | 21 | 29 | 8 | 35 | 32 |
| Exceptional items (within Other Income) | 70 | 0 | 0 | -12 | -6.60 | 0 | |||||||
| Interest | 135 | 132 | 140 | 128 | 162 | 178 | 174 | 184 | 199 | 188 | 193 | 197 | 216 |
| Depreciation | 160 | 164 | 166 | 165 | 173 | 173 | 172 | 176 | 187 | 189 | 202 | 209 | 213 |
| Profit before tax | -373 | 110 | -39 | -247 | -76 | -31 | 173 | 182 | 89 | 38 | 49 | 213 | 491 |
| Tax % | 12 | 42 | 72 | 10 | 30 | 108 | 21 | 7 | 35 | 29 | 26 | 8 | 14 |
| Net Profit | -416 | 63 | -67 | -271 | -98 | -65 | 137 | 169 | 58 | 27 | 36 | 196 | 423 |
| EPS in Rs | -58 | 8.77 | -9.31 | -38 | -14 | -8.95 | 19 | 23 | 8.03 | 3.73 | 5.01 | 27 | 59 |
| Diluted EPS in Rs | 23 | 8.03 | 3.73 | 5.01 | 27 | 59 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 6,130 | 6,366 | 6,505 | 6,802 | 7,957 | 7,405 | 8,889 | 13,127 | 14,663 | 13,364 | 15,036 | 15,401 | 16,866 |
| Expenses | 5,395 | 5,561 | 5,630 | 5,921 | 6,969 | 6,324 | 7,085 | 10,956 | 12,913 | 11,976 | 13,375 | 13,547 | 14,571 |
| Material Cost | 9,396 | 8,877 | |||||||||||
| Change in Inventories | -231 | 128 | |||||||||||
| Purchases of Stock-in-Trade | 82 | 57 | |||||||||||
| Employee Cost | 1,350 | 1,557 | |||||||||||
| Other Expenses | 2,768 | 2,911 | |||||||||||
| Operating Profit | 735 | 805 | 874 | 881 | 988 | 1,081 | 1,804 | 2,171 | 1,749 | 1,387 | 1,662 | 1,854 | 2,295 |
| OPM % | 12 | 13 | 13 | 13 | 12 | 15 | 20 | 17 | 12 | 10 | 11 | 12 | 14 |
| Other Income | 18 | 38 | 25 | 22 | 19 | 28 | 23 | 71 | -21 | -745 | -5 | 111 | 104 |
| Exceptional items (within Other Income) | -178 | -19 | |||||||||||
| Interest | 187 | 176 | 187 | 197 | 218 | 225 | 229 | 322 | 473 | 536 | 698 | 777 | 795 |
| Depreciation | 279 | 286 | 318 | 352 | 381 | 403 | 456 | 537 | 599 | 655 | 695 | 787 | 813 |
| Profit before tax | 286 | 382 | 395 | 354 | 409 | 481 | 1,142 | 1,382 | 656 | -549 | 264 | 400 | 791 |
| Tax % | 11 | 17 | 11 | 12 | 23 | 23 | 26 | 20 | 27 | 26 | 40 | 18 | |
| Net Profit | 256 | 317 | 351 | 312 | 315 | 371 | 844 | 1,099 | 481 | -691 | 142 | 317 | 682 |
| EPS in Rs | 35 | 43 | 48 | 43 | 43 | 51 | 117 | 152 | 67 | -96 | 20 | 44 | 95 |
| Diluted EPS in Rs | 20 | 44 | |||||||||||
| Dividend Payout % | 8 | 7 | 7 | 5 | 5 | 4 | 2 | 2 | 5 | -1 | 15 | 7 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- 9%
- 5 years
- 12%
- 3 years
- 2%
- TTM
- 10%
Compounded profit growth
- 10 years
- 1%
- 5 years
- -17%
- 3 years
- -17%
- TTM
- 143%
Stock price CAGR
- 10 years
- 7%
- 5 years
- 1%
- 3 years
- 14%
- 1 year
- 16%
Return on equity
- 10 years
- 8%
- 5 years
- 7%
- 3 years
- 4%
- Last year
- 4%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 72 | 72 | 72 | 72 | 72 | 72 | 72 | 72 | 72 | 72 | 72 | 72 |
| Reserves | 2,935 | 3,376 | 3,572 | 3,907 | 4,232 | 4,625 | 5,484 | 6,624 | 7,433 | 7,153 | 7,324 | 8,050 |
| Borrowings | 2,210 | 2,139 | 2,102 | 2,079 | 2,105 | 3,626 | 4,041 | 4,787 | 5,704 | 6,947 | 8,353 | 10,152 |
| Other Liabilities | 1,250 | 1,217 | 1,402 | 1,629 | 1,550 | 1,693 | 2,222 | 2,959 | 3,229 | 3,176 | 3,687 | 3,897 |
| Minority Interest | 0 | |||||||||||
| Total Liabilities | 6,468 | 6,804 | 7,148 | 7,688 | 7,960 | 10,016 | 11,820 | 14,441 | 16,438 | 17,348 | 19,437 | 22,171 |
| Fixed Assets | 3,240 | 3,255 | 3,394 | 3,766 | 3,759 | 3,808 | 5,032 | 6,417 | 7,786 | 8,223 | 8,739 | 9,783 |
| CWIP | 32 | 229 | 498 | 196 | 261 | 2,007 | 1,518 | 671 | 466 | 538 | 725 | 2,176 |
| Investments | 138 | 111 | 76 | 85 | 42 | 199 | 205 | 212 | 191 | 170 | 145 | 116 |
| Other Assets | 3,058 | 3,210 | 3,180 | 3,641 | 3,898 | 4,003 | 5,065 | 7,141 | 7,994 | 8,416 | 9,828 | 10,096 |
| Total Assets | 6,468 | 6,804 | 7,148 | 7,688 | 7,960 | 10,016 | 11,820 | 14,441 | 16,438 | 17,348 | 19,437 | 22,171 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 501 | 875 | 779 | 651 | 553 | 849 | 1,174 | 709 | 1,383 | 825 | 1,135 | 992 |
| Cash from Investing Activity | -197 | -437 | -669 | -427 | -344 | -2,062 | -1,095 | -952 | -1,172 | -1,619 | -1,732 | -2,015 |
| Cash from Financing Activity | -319 | -242 | -202 | -205 | -237 | 1,369 | 134 | 216 | 292 | 776 | 678 | 941 |
| Net Cash Flow | -15 | 196 | -92 | 19 | -27 | 155 | 214 | -28 | 503 | -18 | 80 | -82 |
| Free Cash Flow | 301 | 406 | 18 | 212 | 170 | -1,228 | 59 | -255 | 105 | -809 | -591 | -1,050 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 90 | 85 | 93 | 104 | 94 | 96 | 99 | 98 | 80 | 94 | 91 | 92 |
| Inventory Days | 63 | 64 | 70 | 72 | 63 | 73 | 89 | 86 | 91 | 84 | 100 | 97 |
| Days Payable | 72 | 80 | 98 | 108 | 79 | 90 | 104 | 92 | 85 | 90 | 90 | 99 |
| Cash Conversion Cycle | 80 | 68 | 64 | 68 | 78 | 79 | 83 | 92 | 87 | 88 | 101 | 89 |
| Working Capital Days | 23 | 23 | 22 | 36 | 32 | 31 | 45 | 56 | 41 | 36 | 20 | 12 |
| ROCE % | 9 | 10 | 10 | 9 | 10 | 10 | 15 | 17 | 10 | 6 | 8 | 7 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
1 when an audit qualification is filed as repetitive
0.00flag
2026-03-31
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
exports as % of revenue
57.00
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash
9,080inr_cr
2026-03-31
guarantees / comfort given for promoter, promoter group, directors and KMP
0.00cr
2026-03-31
loans outstanding to promoter, promoter group, directors and KMP (governance filing)
0.00cr
2026-03-31
security given for the borrowing of promoter, promoter group, directors and KMP
0.00cr
2026-03-31
FY revenue / permanent employees + workers, same basis (calc)
1,00,08,325inr
2026-03-31
volume growth %
1.70pct
2026-06-30
News
News and filings about UFLEX Limited. Open one to see why it matters.
No recent news for this company.
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
- AGI Greenpac Limited
- AMD Industries Limited
- Aeroflex Neu Limited
- Antarctica Limited
- Arrow Greentech Limited
- B&B Triplewall Containers Limited
- COSMO FIRST LIMITED
- Commercial Syn Bags Limited
- Dhunseri Ventures Limited
- EPL Limited
- Emmbi Industries Limited
- Ester Industries Limited
- Gujarat Raffia Industries Limited
- Haldyn Glass Limited
- Hitech Corporation Limited
- Huhtamaki India Limited
- Jindal Poly Films Limited
- Kanpur Plastipack Limited
- Knack Packaging Limited
- Mold-Tek Packaging Limited
- Nahar Poly Films Limited
- Oricon Enterprises Limited
- Orient Press Limited
- Polyplex Corporation Limited
- Polyspin Exports Limited
- Pyramid Technoplast Limited
- Rajshree Polypack Limited
- Rollatainers Limited
- Shree Rama Multi-Tech Limited
- Shree Tirupati Balajee Agro Trading Company Limited
Uses as raw material
- PET chips / polyester resin
- adhesives & solvents
- aluminium foil
- paperboard (aseptic liquid packaging)
- polypropylene (PP) / homopolymer
- printing inks
Depends on the price of
- Crude Oil Brent
- aluminium
- paper_pulp
- propylene
Buys from
- IOL Chemicals and Pharmaceuticals Limited · ethyl acetate / solvents for flexible packaging
- Rajoo Engineers Limited · Blown film lines for flexible packaging
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Capital Goods
- Industry
- Packaging
- Classification
- Capital Goods › Packaging
- ISIN
- INE516A01017
Business segments
- Flexible Packaging Activities · 97%
- Engineering Activities · 3%
- Others (Unallocable) · -0%
Plants
- Uflex Jammu plants (Bari Brahmana)
- Uflex Noida plants
- Uflex Sanand aseptic plant
News impact
Big market events that reach UFLEX Limited, and how the effect spreads.
28 Jun, 12:02 IST · Market event · medium impact
Asia food vendors hit by soaring plastic costs; margin pressure on packaging-dependent sectors
Who it hits first
- Plastic packaging converters UFLEX and SUPREMEIND and packaging-heavy food/FMCG names are named by the structural plastic-cost narrative, but near-term polymer feedstock is soft (Crude Brent -22.1% 1m), making the actual margin effect neutral-to-favourable rather than the headline's pressure.
Who may gain
- Polymer converters (SUPREMEIND, UFLEX) benefit near-term from cheaper resin feedstock; recycled / sustainable-packaging plays benefit structurally from any regulatory cost push.
Along the supply chain
Downstream
Downstream packaging-dependent FMCG/food processors (BIKAJI, BAJAJCON, VADILALIND, HERITGFOOD) and converters (SUPREMEIND, UFLEX) see modestly LOWER packaging input costs near-term from the soft feedstock, easing rather than pressuring margins.
Upstream
Upstream polymer/resin producers (RELIANCE, GAIL petrochemicals) face SOFTER realizations as Brent (-22.1% 1m) and Chinese PE/PP oversupply weigh on resin spreads -- this is the genuine near-term pressure point, the opposite end from the consumer-cost headline.
Where demand moves
Business
Soft polymer feedstock lowers input cost for plastic converters and packaging-heavy FMCG/food firms; no business demand is created or destroyed by this event -- it is a cost-side, not a demand-side, story, so the chain runs feedstock -> converter margin -> packaged-goods margin, not order-book.
Capital
Low-conviction structural narrative implies minimal capital rotation; to the extent any flow occurs it favours quality converters (SUPREMEIND, near-zero debt) over weak-balance-sheet names (UFLEX, negative FCF), while upstream resin producers (RELIANCE/GAIL) face the genuine near-term spread headwind.
How it spreads across sectors
FMCG
Packaging is a small share of cost; soft feedstock is mildly positive for margins
Food Processing
Modest packaging margin item; net neutral given soft polymer prices
Plastics & Packaging
Structural cost narrative but soft near-term feedstock -> neutral-to-favourable for converters
codex additions
- Petrochemicals & Polymer Resin Producers (RELIANCE, GAIL, ONGC): negative -- soft Brent/propylene + China oversupply compress resin spreads (the real pressure point)
- Beverages & Dairy (VBL, HATSUN, DODLA): positive -- high PET/film packaging intensity, soft polymer eases margins
- Paints/Adhesives (ASIANPAINT, PIDILITIND, BERGEPAINT): positive (small) -- petrochem-linked inputs softer
- Pharma consumables (SUNPHARMA, CIPLA, DRREDDY): mixed/small -- blister/HDPE packaging relief diluted by API/FX
- Agrochemicals (UPL, PIIND, SUMICHEM): mixed/small -- rigid-container relief vs soft chemical pricing
- E-commerce/Logistics (ETERNAL, NYKAA, DELHIVERY): mixed/small -- mailer/film relief vs sustainability compliance
- Alcoholic Beverages (UNITDSPR, UBL, RADICO): positive (small) -- secondary plastic packaging softer
Commodity angle
Commodity
Plastic / polymer resin basket (PE, PP, PVC, PET) -- fragmented Neo4j Commodity nodes
Note
Headline 'soaring plastic costs' is CONTRADICTED by the data: Crude Brent -22.1% 1m / -35.0% 3m (Neo4j), propylene falling, Chinese PE/PP oversupply (web-verified June 2026). The article is a structural feature on plastic ubiquity/regulation costs, not an acute price spike. Near-term effect on Indian polymer converters is a mild margin TAILWIND, not pressure -- hence the DEPENDS_ON_COMMODITY 'negative' edge convention (hurt when prices rise) inverts in the current falling-price window. margin_impact_bps left null because cost_weight_pct is null on all edges and polymer node prices are stale -- a fabricated bps would violate numeric grounding.
Prices status
Polymer/plastic Commodity nodes in Neo4j have NULL or stale (>60d) prices; using crude feedstock as the live proxy per Step 6.2 stale-price rule.
Proxy commodity
Crude Oil Brent
Shock type
structural input-cost narrative (headline); near-term feedstock actually soft (no acute price shock)
A pattern seen before
Cascade chain
- Crude Brent -22% 1m -> naphtha/propylene soften -> PE/PP/PVC/PET resin prices ease -> plastic converters' input cost falls -> packaging-dependent FMCG/food margins mildly relieved (NOT pressured as the headline implies)
Pattern name
Crude Oil Cascade (petrochemical / plastics branch)
Sectors queried
- Plastics & Packaging
- FMCG
- Food Processing
- Petrochemicals
- Capital Goods
- Consumer Services
When it plays out
Immediate
Negligible price reaction expected -- MEDIUM structural narrative with no acute catalyst; feedstock direction (down) contradicts the headline.
Medium term
Structural driver is regulatory/EPR and recycled-content cost, not spot resin -- a slow margin/compliance drag over 1-6 months; sustainable-packaging capability becomes a differentiator.
Short term
Soft PE/PP/PVC resin prices (Chinese oversupply, falling propylene) modestly aid converter and packaging-heavy FMCG gross margins over 1-4 weeks; watch resin spot prices and BOPET film realizations.
Other sectors it reaches
- {"causal_chain":"Soft Brent/propylene and China PE/PP oversupply weaken resin realizations; packaging users may get relief, but upstream polymer spreads and inventory gains compress.","direction":"negative","example_tickers":["RELIANCE","GAIL","ONGC"],"magnitude":"medium","notes":"More directly tied to the reality check than the article narrative; watch PE/PP spreads rather than headline packaging costs.","sector":"Petrochemicals \u0026 Polymer Resin Producers","time_horizon":"immediate"}
- {"causal_chain":"Plastic pails, tubes, films and petrochemical-linked inputs affect packaging and raw-material baskets; soft feedstock can support gross margins despite structural packaging-cost concern.","direction":"positive","example_tickers":["ASIANPAINT","BERGEPAINT","PIDILITIND"],"magnitude":"small","notes":"Packaging is not the only cost driver, but polymer softness is directionally helpful.","sector":"Paints, Adhesives \u0026 Home Improvement Consumables","time_horizon":"1_to_4_weeks"}
- {"causal_chain":"PET bottles, caps, multilayer pouches, shrink films and crates are meaningful recurring costs; falling polymers ease near-term margin pressure for high-volume packaged liquid categories.","direction":"positive","example_tickers":["VBL","HATSUN","DODLA"],"magnitude":"medium","notes":"Higher relevance than broad FMCG because packaging intensity per unit is high.","sector":"Beverages \u0026 Dairy","time_horizon":"1_to_4_weeks"}
- {"causal_chain":"Blister packs, HDPE bottles, syringes, films and secondary packaging create polymer exposure; soft input costs can modestly aid margins, while compliance-grade packaging limits pass-through flexibility.","direction":"mixed","example_tickers":["SUNPHARMA","CIPLA","DRREDDY"],"magnitude":"small","notes":"Effect is diluted by APIs, US pricing, currency and regulatory factors.","sector":"Pharmaceuticals \u0026 Healthcare Consumables","time_horizon":"1_to_6_months"}
- {"causal_chain":"Rigid containers, drums, laminated sachets and bags are used for pesticides, fertilizers and seeds; soft polymers lower packaging cost, but weak petrochemical chain can also signal soft chemical pricing.","direction":"mixed","example_tickers":["UPL","PIIND","SUMICHEM"],"magnitude":"small","notes":"Seasonality and channel inventory can dominate the packaging effect.","sector":"Agrochemicals, Seeds \u0026 Crop Inputs","time_horizon":"1_to_6_months"}
- {"causal_chain":"Corrugated-plus-plastic mailers, bubble wrap, tapes, sachets and return packaging affect fulfillment costs; soft polymer prices help unit economics, while sustainability rules may raise longer-term compliance costs.","direction":"mixed","example_tickers":["ETERNAL","NYKAA","DELHIVERY"],"magnitude":"small","notes":"Packaging is operationally visible but usually smaller than delivery, discounts and warehousing costs.","sector":"E-commerce, Beauty Retail \u0026 Logistics","time_horizon":"1_to_6_months"}
- {"causal_chain":"PET, caps, labels, shrink sleeves, secondary plastic packaging and logistics films affect packaged alcohol costs; lower polymer inputs can slightly support margins where pricing is regulated.","direction":"positive","example_tickers":["UNITDSPR","UBL","RADICO"],"magnitude":"small","notes":"Glass and ENA remain larger cost variables, but plastic-linked secondary packaging still ripples through.","sector":"Alcoholic Beverages","time_horizon":"1_to_4_weeks"}
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 25 Jun 2026 | unspecified | ₹3 |
|---|---|---|
| 1 Aug 2025 | unspecified | ₹3 |
| 30 Aug 2024 | unspecified | ₹1 |
| 4 Aug 2023 | unspecified | ₹3 |
| 18 Aug 2022 | unspecified | ₹3 |
| 8 Sep 2021 | unspecified | ₹2.5 |
| 9 Sep 2020 | unspecified | ₹2 |
| 24 Jul 2019 | unspecified | ₹2 |
Splits, bonuses & buybacks
- daily-prices repair: 8 rows from NSE's archive (replace 1, delete 0, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016
Bulk & block deals
| Date | Who | Bought / sold | Shares | Price |
|---|---|---|---|---|
| 22 Jul 2026 | NK SECURITIES RESEARCH PRIVATE LIMITED | BUY | 4,76,336 | ₹495.51 |
| 22 Jul 2026 | NK SECURITIES RESEARCH PRIVATE LIMITED | SELL | 4,76,336 | ₹495.87 |
| 22 Jul 2026 | ELIXIR WEALTH MANAGEMENT PRIVATE LIMITED | BUY | 3,89,497 | ₹496.52 |
| 22 Jul 2026 | ELIXIR WEALTH MANAGEMENT PRIVATE LIMITED | SELL | 3,89,497 | ₹497.75 |
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Earnings call17 Aug 2026
- Annual report · 2025-264 Jul 2026
- Results presentation30 Jun 2026
- Earnings call1 Jun 2026
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.