---
title: "Silkflex Polymers (India) Ltd (SILKFLEX) — Share Price, Financials & Analysis"
symbol: "SILKFLEX"
company: "Silkflex Polymers (India) Ltd"
canonical: "https://tapetide.com/stocks/SILKFLEX"
isin: "INE0STN01015"
nse_symbol: "SILKFLEX"
sector: "Commodities"
industry: "Chemicals & Petrochemicals"
market_cap_cr: 295.22
generated_at: "2026-09-13T19:38:59.264Z"
---

# Silkflex Polymers (India) Ltd (SILKFLEX)

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

## Company

- **NSE Symbol:** SILKFLEX
- **ISIN:** INE0STN01015
- **Sector:** Commodities
- **Industry:** Chemicals & Petrochemicals
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Listed Since:** 2024-05-15
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** silkflexindia.in

## About

Incorporated in 2016, Silkflex Polymers 
India Ltd is in the business of Chemicals 
and Printing dyes and water based Wood Coatings[1]

## Latest Price

- **Price:** ₹281.05
- **Change:** +13.35 (+4.99%)
- **Open:** ₹257.1
- **Day High:** ₹281.05
- **Day Low:** ₹254.35
- **Previous Close:** ₹267.7
- **Volume:** 46000
- **As Of:** 2026-09-11T09:53:33+00:00

## Key Fundamentals

Observed at 2026-09-11T04:42:21.737057Z.

- **Market Cap:** ₹295.22 Cr
- **Classification:** SME
- **P/E (reported):** 25.6
- **Book Value:** ₹40.96
- **Price to Book:** 6.54
- **Dividend Yield:** 0%
- **ROE:** 25.56%
- **ROCE:** 23.56%
- **Debt to Equity:** 1.29
- **Revenue (yearly):** ₹110.8 Cr
- **Net Income:** ₹12.2 Cr
- **EBITDA:** ₹22.3 Cr
- **52-Week High:** ₹302.7
- **52-Week Low:** ₹76
- **RSI (14):** 61.92

## Tapetide Score

- **Score:** 58 / 100
- **Score date:** 2026-09-04
- **Archetype:** Priced for Perfection
- **What it means:** The business scores well but the multiple leaves little room for error. The debate here is about the price, not the company; small disappointments tend to cost more at rich valuations.
- **Pillar profile:** Quality: Good · Valuation: Expensive · Momentum: Rising
- **Percentile:** 81.3 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 42.69 | 9% |
| growth | 81.41 | 9% |
| momentum | 98.9 | 12% |
| ownership | 50 | 24% |
| quality | 70.37 | 22% |
| valuation | 29.48 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has delivered good profit growth of 93.2% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 30.4%
- Company's working capital requirements have reduced from 55.0 days to 33.3 days

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 51.2 to 64.8 days.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 223.83% | 239.74% | 779.49% |
| ebitda margin growth | 26.39% | 33.89% | 39.06% | 203.46% |
| net income growth | 14.63% | 74.29% | 144% | 93% |
| revenue growth | 16.32% | 37.64% | 35% | 40% |
| roce | — | 9.68% | -48.16% | 25.81% |
| roe | — | 30.01% | 25.76% | 175.13% |

## Financial Statements

### Quarterly Results

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

| Item | Dec 2024 | Mar 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Sales | 31.83 | 13.03 | 18.8 | 33.54 | 39.07 |
| Expenses | 28.75 | 10.25 | 15.99 | 26.43 | 30.06 |
| Operating Profit | 3.08 | 2.78 | 2.81 | 7.11 | 9.01 |
| OPM % | 9.68 | 21.34 | 14.95 | 21.2 | 23.06 |
| Other Income | 0 | 0.22 | 0.18 | 0.12 | 0.13 |
| Interest | 0.55 | 0.8 | 0.58 | 1.15 | 1.83 |
| Depreciation | 0.05 | 0.14 | 0.11 | 0.58 | 1.08 |
| Profit before tax | 2.48 | 2.06 | 2.3 | 5.5 | 6.23 |
| Tax % | 25 | 32.04 | 25.22 | 26.18 | 25.2 |
| Net Profit | 1.87 | 1.39 | 1.73 | 4.06 | 4.66 |
| EPS in Rs | 1.61 | 1.2 | 1.49 | 3.5 | 4.01 |

### Profit & Loss

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 21 | 21 | 28 | 44 | 50 | 80 | 110 |
| Expenses | 20 | 19 | 26 | 42 | 43 | 68 | 88 |
| Operating Profit | 1 | 1 | 2 | 2 | 7 | 12 | 22 |
| OPM % | 4 | 6 | 6 | 5 | 14 | 15 | 20 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Interest | 0 | 1 | 1 | 1 | 2 | 3 | 4 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Profit before tax | 0 | 1 | 1 | 1 | 5 | 9 | 16 |
| Tax % | 26 | 26 | 25 | 25 | 25 | 26 | 26 |
| Net Profit | 0 | 0 | 1 | 1 | 4 | 7 | 12 |
| EPS in Rs | 2.33 | 2.19 | 2.76 | 3.32 | 4.84 | 6.03 | 10.47 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 2 | 2 | 2 | 2 | 8 | 12 | 12 |
| Reserves | 1 | 3 | 5 | 6 | 4 | 24 | 36 |
| Borrowings | 6 | 6 | 10 | 14 | 15 | 36 | 62 |
| Other Liabilities | 1 | 2 | 2 | 2 | 11 | 11 | 22 |
| Total Liabilities | 10 | 13 | 20 | 24 | 38 | 83 | 132 |
| Fixed Assets | 1 | 1 | 3 | 4 | 11 | 12 | 66 |
| CWIP | 0 | 1 | 0 | 0 | 1 | 5 | 6 |
| Investments | 1 | 2 | 1 | 1 | 0 | 0 | 0 |
| Other Assets | 7 | 9 | 15 | 18 | 26 | 66 | 59 |
| Total Assets | 10 | 13 | 20 | 24 | 38 | 83 | 132 |

### Cash Flow

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0 | 0 | -4 | -1 | 9 | -24 | 29 |
| Cash from Investing Activity | -2 | -1 | 0 | -1 | -9 | -12 | -49 |
| Cash from Financing Activity | 2 | 2 | 5 | 2 | 0 | 35 | 22 |
| Net Cash Flow | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Free Cash Flow | -1 | -2 | -5 | -2 | 0 | -29 | -28 |
| CFO/OP | 4 | 2 | -248 | -28 | 128 | -192 | 144 |

### Ratios

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 41 | 49 | 29 | 17 | 42 | 46 | 65 |
| Inventory Days | 90 | 125 | 216 | 153 | 164 | 185 | 136 |
| Days Payable | 28 | 13 | 11 | 13 | 82 | 38 | 68 |
| Cash Conversion Cycle | 104 | 161 | 234 | 158 | 125 | 193 | 133 |
| Working Capital Days | 27 | 87 | 62 | 40 | 7 | 125 | 33 |
| ROCE % | — | 14 | 12 | 11 | 28 | 24 | 23 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 69.89% | 69.89% | 69.89% | 69.89% | 69.89% | 69.89% | 70.14% | 70.14% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 8.94% | 8.94% | 8.94% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 17.52% | 17.69% | 16.85% | 16.17% | 16.12% | 16.23% | 15.88% | 16.15% |
| Others | 12.6% | 12.42% | 13.27% | 13.94% | 13.99% | 4.95% | 5.03% | 4.76% |
| No. of Shareholders | 456 | 472 | 486 | 413 | 407 | 390 | 340 | 443 |

## Technical Indicators

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

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 13 / 6 / 0

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 273.61 | Buy |
| EMA (10) | 271.15 | Buy |
| SMA (20) | 246.87 | Buy |
| EMA (20) | 254.64 | Buy |
| SMA (50) | 221.77 | Buy |
| EMA (50) | 229.81 | Buy |
| SMA (100) | 210.25 | Buy |
| EMA (100) | 205.73 | Buy |
| SMA (200) | 156.03 | Buy |
| EMA (200) | 172.15 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 66.4 | Neutral |
| MACD (12,26,9) | 19.95 | Buy |
| Stochastic (14,3,3) | 68.59 | Neutral |
| ADX (14) | 34.13 | Buy |
| Williams %R (14) | -30.41 | Neutral |
| ATR (14) | 13.6 | High Volatility |
| ROC (12) | 15.63 | Buy |
| Stoch RSI (14) | 20.85 | Neutral |
| UO (7,14,28) | 63.96 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 8 Aug - Silkflex will install 5 MT and 1 MT vessels for binder manufacturing; commercial production pending. | [Capacity addition 8 Aug - Silkflex will install 5 MT and 1 MT vessels for binder manufacturing; commercial production pending.](https://nsearchives.nseindia.com/corporate/SILKFLEX_08082026170604_Letter.pdf) |
| 7 March 2026 - Secretarial auditor M/s K Shaw & Associates resigned effective March 06, 2026 due to preoccupation. | [Resignation 7 March 2026 - Secretarial auditor M/s K Shaw & Associates resigned effective March 06, 2026 due to preoccupation.](https://nsearchives.nseindia.com/corporate/SILKFLEX_07032026144750_Letter_No75Resignation_of_Secretarial_Auditor.pdf) |
| 7 April 2026 - Submitted Regulation 74(5) compliance certificate for quarter ended March 31, 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 7 April 2026 - Submitted Regulation 74(5) compliance certificate for quarter ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/SILKFLEX_07042026154307_Letter.pdf) |
| 6 May 2026 - Q4 FY26 earnings call transcript highlights Vadodara plant commissioning, 37.7% annual revenue growth and FY27 expansion plans. | [Analysts/Institutional Investor Meet/Con. Call Updates 6 May 2026 - Q4 FY26 earnings call transcript highlights Vadodara plant commissioning, 37.7% annual revenue growth and FY27 expansion plans.](https://nsearchives.nseindia.com/corporate/SILKFLEX_06052026183658_Letter.pdf) |
| 6 Jul - Corporate governance report not applicable for quarter ended June 30, 2026, as Silkflex is an NSE SME-listed company. | [Quarterly Compliance Report on Corporate governance - within 21 days from the end of the quarter 6 Jul - Corporate governance report not applicable for quarter ended June 30, 2026, as Silkflex is an NSE SME-listed company.](https://nsearchives.nseindia.com/corporate/SILKFLEX_06072026130404_Letter.pdf) |
| 5 March 2026 - Company Secretary Nikita Jaiswal resigns effective March 10, 2026; cites personal reasons and professional growth. | [Resignation 5 March 2026 - Company Secretary Nikita Jaiswal resigns effective March 10, 2026; cites personal reasons and professional growth.](https://nsearchives.nseindia.com/corporate/SILKFLEX_05032026182127_UPLOAD.pdf) |
| 31 March 2026 - Crisil assigns 'BBB-/Stable' to Silkflex Polymers' Rs50 crore long-term bank facilities, noting strengths and risks. | [Credit Rating 31 March 2026 - Crisil assigns 'BBB-/Stable' to Silkflex Polymers' Rs50 crore long-term bank facilities, noting strengths and risks.](https://nsearchives.nseindia.com/corporate/SILKFLEX_31032026190201_Letter.pdf) |
| 31 Aug - EGM on September 22, 2026 to raise authorized capital and approve ₹57.36 crore preferential issuance. | [Shareholders meeting 31 Aug - EGM on September 22, 2026 to raise authorized capital and approve ₹57.36 crore preferential issuance.](https://nsearchives.nseindia.com/corporate/SILKFLEX_31082026152746_Notice_of_EGM.pdf) |
| 31 Aug - Board approved takeover of Sylera Inc. and launch of Sylera textile inks, Slyvora wood coatings on August 31, 2026. | [Outcome of Board Meeting 31 Aug - Board approved takeover of Sylera Inc. and launch of Sylera textile inks, Slyvora wood coatings on August 31, 2026.](https://nsearchives.nseindia.com/corporate/SILKFLEX_31082026204833_Letter.pdf) |
| 30 May 2026 - Submitted SDD compliance certificate for FY 2025-26; 20 of 20 required events captured. | [Structural Digital Database 30 May 2026 - Submitted SDD compliance certificate for FY 2025-26; 20 of 20 required events captured.](https://nsearchives.nseindia.com/corporate/SILKFLEX_30052026185934_Letter.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2025 | [Concall - Nov 2025](https://nsearchives.nseindia.com/corporate/SILKFLEX_19112025194204_Letter53_Earning_Call_Transcript.pdf) |
| May 2025 | [Concall - May 2025](https://nsearchives.nseindia.com/corporate/SILKFLEX_27052025231510_Letter20.pdf) |
| Feb 2026 | [Concall - Feb 2026](https://nsearchives.nseindia.com/corporate/SILKFLEX_10022026182836_Letter_66_Transcript.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_30457_SILKFLEX_2025_2026_A_17180973_20082026163527.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_27939_SILKFLEX_2024_2025_A_5663432_30082025132418.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25356_SILKFLEX_2023_2024_30082024225334.pdf) |

---

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 2026-09-13T19:38:59.264Z.