---
title: "Mewar Polytex Ltd (531236) — Share Price, Financials & Analysis"
symbol: "531236"
company: "Mewar Polytex Ltd"
canonical: "https://tapetide.com/stocks/531236"
isin: "INE404E01018"
bse_code: "531236"
generated_at: "2026-10-13T11:00:46.448Z"
---

# Mewar Polytex Ltd (531236)

Canonical page: https://tapetide.com/stocks/531236

## Company

- **BSE Code:** 531236
- **ISIN:** INE404E01018
- **Stock Type:** EQUITY
- **Listed Since:** 2006-03-02
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** mewarpolytex.com

## About

Mewar Polytex Limited was originally incorporated in 1979 as private limited company and subsequently converted in to public limited company in 1994 is listed on Bombay Stock Exchange (BSE). The Company was promoted by Mr. B.H. Bapna an engineer from University of California, to manufacture light weight PP bags for packing minerals and chemical during a period when HDPE bags were predominately used.

## Latest Price

## Key Insights

### Strengths

- Stock is trading at 0.82 times its book value

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 13.1% over last 3 years.
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.4.12 Cr.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 19% | 2% | 37% |
| revenue growth | 42% | 17% | 17% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2013 | Mar 2014 | Jun 2014 | Sep 2014 | Dec 2014 | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 14.64 | 12.71 | 10.99 | 12.11 | 16.11 | 16.42 | 18.74 | 18.68 | 13.58 | 17.16 | 16.92 | 16.67 |
| Expenses | 14.05 | 12.14 | 10.83 | 11.49 | 15.38 | 14.71 | 18.08 | 17.5 | 12.57 | 15.36 | 15.87 | 15.33 |
| Operating Profit | 0.59 | 0.57 | 0.16 | 0.62 | 0.73 | 1.71 | 0.66 | 1.18 | 1.01 | 1.8 | 1.05 | 1.34 |
| OPM % | 4.03 | 4.48 | 1.46 | 5.12 | 4.53 | 10.41 | 3.52 | 6.32 | 7.44 | 10.49 | 6.21 | 8.04 |
| Other Income | -0.01 | 0.02 | 0.7 | 0.11 | 0.34 | 0.09 | 0.44 | 0.46 | 0.39 | 0.21 | 0.63 | 0.34 |
| Interest | 0.2 | 0.24 | 0.15 | 0.2 | 0.12 | 0.1 | 0.1 | 0.04 | 0.06 | 0.1 | 0.03 | 0.04 |
| Depreciation | 0.26 | 0.24 | 0.26 | 0.26 | 0.36 | 0.24 | 0.27 | 0.34 | 0.29 | 0.36 | 0.44 | 0.44 |
| Profit before tax | 0.12 | 0.11 | 0.45 | 0.27 | 0.59 | 1.46 | 0.73 | 1.26 | 1.05 | 1.55 | 1.21 | 1.2 |
| Tax % | 58.33 | 200 | 31.11 | 33.33 | 32.2 | 30.82 | 23.29 | 39.68 | 34.29 | 43.87 | 30.58 | 39.17 |
| Net Profit | 0.05 | -0.12 | 0.31 | 0.17 | 0.4 | 1.01 | 0.55 | 0.76 | 0.7 | 0.87 | 0.84 | 0.73 |
| EPS in Rs | 0.15 | -0.37 | 0.96 | 0.53 | 1.24 | 3.13 | 1.7 | 2.35 | 2.17 | 2.69 | 2.6 | 2.26 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 25 | 30 | 37 | 45 | 49 | 56 | 68 | 66 | 76 | 108 |
| Expenses | 21 | 27 | 34 | 43 | 48 | 53 | 63 | 62 | 72 | 104 |
| Operating Profit | 4 | 3 | 3 | 2 | 1 | 3 | 5 | 5 | 4 | 4 |
| OPM % | 15 | 10 | 8 | 4.3 | 3 | 6 | 7 | 7 | 5 | 4.2 |
| Other Income | 0 | 0 | 0 | 2 | 1 | 1 | 1 | 2 | 3 | 4 |
| Interest | 1 | 1 | 1 | 1 | 0 | 1 | 0 | 0 | 0 | 1 |
| Depreciation | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 3 |
| Profit before tax | 1 | 1 | 1 | 2 | 2 | 3 | 5 | 5 | 5 | 5 |
| Tax % | 39 | 31 | 32 | 19 | 30 | 32 | 37 | 41 | 37 | 30 |
| Net Profit | 1 | 1 | 1 | 2 | 1 | 2 | 3 | 3 | 3 | 3 |
| EPS in Rs | 2.2 | 2.29 | 2.48 | 5.57 | 3.31 | 5.85 | 8.95 | 8.92 | 8.85 | 10.65 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Reserves | 6 | 7 | 8 | 10 | 11 | 13 | 16 | 18 | 21 | 25 |
| Borrowings | 6 | 7 | 10 | 5 | 7 | 7 | 5 | 9 | 13 | 20 |
| Other Liabilities | 1 | 0 | 1 | 1 | 2 | 6 | 5 | 7 | 12 | 11 |
| Total Liabilities | 17 | 18 | 23 | 19 | 23 | 29 | 29 | 37 | 50 | 59 |
| Fixed Assets | 6 | 5 | 6 | 4 | 6 | 5 | 13 | 15 | 15 | 21 |
| CWIP | 0 | 1 | 2 | 0 | 0 | 3 | 0 | 0 | 2 | 8 |
| Investments | 4 | 3 | 3 | 2 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 6 | 9 | 11 | 13 | 17 | 20 | 16 | 22 | 33 | 29 |
| Total Assets | 17 | 18 | 23 | 19 | 23 | 29 | 29 | 37 | 50 | 59 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 3 | -1 | 1 | 1 | 0 | 4 | 7 | 1 | 0 | 8 |
| Cash from Investing Activity | -5 | 0 | -3 | 6 | 0 | -4 | -10 | -3 | -4 | -15 |
| Cash from Financing Activity | 1 | 1 | 3 | -6 | 0 | 4 | 0 | 2 | 3 | 8 |
| Net Cash Flow | -1 | 0 | 0 | 0 | 0 | 4 | -4 | 0 | 0 | 0 |
| Free Cash Flow | 0 | -2 | -3 | 4 | 0 | 0 | 1 | -2 | -4 | -7 |
| CFO/OP | 88 | -36 | 43 | 56 | 0 | 161 | 178 | 53 | 40 | 192 |

### Ratios

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 17 | 29 | 45 | 35 | 58 | 54 | 51 | 48 | 82 | 55 |
| Inventory Days | 53 | 68 | 55 | 64 | 41 | 20 | 20 | 75 | 59 | 37 |
| Days Payable | 8 | 0 | 9 | 0 | 9 | 2 | 2 | 16 | 55 | 11 |
| Cash Conversion Cycle | 62 | 97 | 91 | 99 | 90 | 72 | 69 | 107 | 86 | 81 |
| Working Capital Days | 61 | 81 | 79 | 81 | 90 | 69 | 60 | 82 | 98 | 74 |
| ROCE % | 12 | 11 | 10 | 11 | 7 | 14 | 23 | 19 | 14 | 13 |

## Shareholding Pattern

### annual

| Category | Sep 2016 |
| --- | --- |
| Promoters | 70.87% |
| Public | 29.13% |
| No. of Shareholders | 421 |

### Quarterly

| Category | Jun 2016 | Sep 2016 |
| --- | --- | --- |
| Promoters | 70.87% | 70.87% |
| Public | 29.13% | 29.13% |
| No. of Shareholders | 449 | 421 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Buy
- **Buy / Neutral / Sell:** 9 / 7 / 3

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 70.19 | Buy |
| EMA (10) | 70.93 | Buy |
| SMA (20) | 71.32 | Sell |
| EMA (20) | 70.79 | Buy |
| SMA (50) | 70.38 | Buy |
| EMA (50) | 69.43 | Buy |
| SMA (100) | 66.99 | Buy |
| EMA (100) | 67.15 | Buy |
| SMA (200) | 64.88 | Buy |
| EMA (200) | 61.99 | Buy |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 50.85 | Neutral |
| MACD (12,26,9) | 0.34 | Sell |
| Stochastic (14,3,3) | 53.82 | Neutral |
| ADX (14) | 10.47 | Neutral |
| Williams %R (14) | -54.22 | Neutral |
| ATR (14) | 2.48 | High Volatility |
| ROC (12) | -5.96 | Sell |
| Stoch RSI (14) | 44.08 | Neutral |
| UO (7,14,28) | 60.48 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-02-14 | [Monitoring Agency Report](https://nsearchives.nseindia.com/corporate/INDIANEMULSIFIERS_14022026213102_NSE_Utilisation_Statement.pdf) |
| 2026-02-13 | [Reply to Clarification- Financial results](https://nsearchives.nseindia.com/corporate/INDIANEMULSIFIERS_10022025154035_IndianEmulsifiersLtdExchangeFiling10022025.pdf) |
| 2026-02-04 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/INDIANEMULSIFIERS_04022026194119_BMOutcome04022026.pdf) |
| 2026-02-04 | [Appointment](https://nsearchives.nseindia.com/corporate/INDIANEMULSIFIERS_04022026194021_BMOutcome04022026.pdf) |
| 2026-02-03 | [Resignation](https://nsearchives.nseindia.com/corporate/INDIANEMULSIFIERS_03022026143811_Reg_30_for_Resignation_of_CS.pdf) |
| 2016-11-14 | [Standalone Financial Results, Limited Review Report for September 30, 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=66442626_962D_40AD_8CC2_6D17FCBF942B_195631.pdf) |
| 2016-11-14 | [Standalone Financial Results, Limited Review Report for September 30, 2016](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2016/11/66442626_962D_40AD_8CC2_6D17FCBF942B_195631.pdf) |
| 2016-11-05 | [Board Meeting Intimation for Results & Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9D351CCD_3FC7_4B47_A339_BF27C58469B1_151122.pdf) |
| 2016-11-05 | [Board Meeting Intimation for Results & Closure of Trading Window](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2016/11/9D351CCD_3FC7_4B47_A339_BF27C58469B1_151122.pdf) |
| 2016-10-19 | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=EDC39DE3_F5BE_4613_AE4D_641AF8E820C1_180950.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2025 | [Financial Year 2025](https://archives.nseindia.com/annual_reports/SME_AR_28802_IEML_2024_2025_A_10177737_06092025181019.pdf) |
| 2024 | [Financial Year 2024](https://archives.nseindia.com/annual_reports/SME_AR_25123_IEML_2023_2024_24082024152613.pdf) |
| Mar 2016 | [Annual Report 2016](https://www.bseindia.com/bseplus/AnnualReport/531236/5312360316.pdf) |
| Mar 2015 | [Annual Report 2015](https://www.bseindia.com/bseplus/AnnualReport/531236/5312360315.pdf) |
| Mar 2014 | [Annual Report 2014](https://www.bseindia.com/bseplus/AnnualReport/531236/5312360314.pdf) |
| Mar 2013 | [Annual Report 2013](https://www.bseindia.com/bseplus/AnnualReport/531236/5312360313.pdf) |
| Mar 2010 | [Annual Report 2010](https://www.bseindia.com/bseplus/AnnualReport/531236/5312360310.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2025 | [Concall - Nov 2025](https://nsearchives.nseindia.com/corporate/INDIANEMULSIFIERS_13112025223726_NSE_IEML_Transcript_November_2025.pdf) |
| Oct 2025 | [Concall - Oct 2025](https://nsearchives.nseindia.com/corporate/INDIANEMULSIFIERS_13102025135705_Presentation_Oct_2025.pdf) |
| May 2025 | [Concall - May 2025](https://nsearchives.nseindia.com/corporate/INDIANEMULSIFIERS_28052025150108_NSE_Transcript_March_2025.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2025-12-30 | Credit rating update — CARE Ratings |
| 2025-11-19 | Credit rating update — Acuité |
| 2025-01-08 | Credit rating update — CARE Ratings |
| 2024-08-21 | Credit rating update — Acuité |
| 2024-03-04 | Credit rating update — CARE Ratings |
| 2023-05-24 | Credit rating update — Acuité |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T11:00:46.448Z.