Pankaj Polymers (531280)

Score breakdown: P/E: 2/3 · ROCE: 0/2 · Growth: 0/2 · Dividend: 0/1

Key Financials

Strengths

• Price ₹11.02 is trading at a 44% discount to book value of ₹19.54 per share (P/B 0.56), offering a potential margin of safety.
• Market cap is only ₹6 crore, so if hidden or real assets are monetised, the upside could be significant.
• Reported ROE of 19.11% indicates the book capital was once productive, though it must be reconciled with zero current sales.
• P/E of 16.27 suggests some trailing earnings still exist in the financials, even if the latest quarter is blank.

Concerns

• Sales growth is -100%; latest quarter sales and net profit are both ₹0 crore, meaning there is no active operating business.
• Piotroski F-Score is only 3/9, signalling weak profitability and deteriorating financial health.
• ROCE is just 0.61%, so deployed capital is earning almost nothing.
• The current price is below the 52-week low of ₹15.36, promoter holding is N/A, and there is zero dividend — all are negative signals.

AI Analysis

Let me analyse Pankaj Polymers the way I would any business. It is a packaging company, but the first numbers tell me this is no longer a going concern in the conventional sense. Latest quarter sales are ₹0 crore; net profit is ₹0 crore; year-on-year sales growth is -100%. A business can survive a bad year, but zero revenue means there is no operating earnings engine to value. Graham would ask: what am I actually buying? The balance sheet says book value is ₹19.54 per share, while the market price is ₹11.02. So I am buying assets at 0.56 times book. That sounds like a classic margin of safety. But a discount to book is only meaningful if the assets are worth their stated value. With ROCE at 0.61%, the capital is barely earning anything. The reported ROE of 19.11% is puzzling against zero sales, and profit growth of 0% explains the static P/E of 16.27. The Piotroski F-Score of 3 out of 9 strengthens my suspicion: the company scores poorly on operational strength and financial health. The stock trades at ₹11.02, below the 52-week range of ₹15.36 to ₹75.97. Price falling through the lower boundary is not a sign of bargain; it is a signal of distress. There is no dividend, and promoter holding is not disclosed, so I cannot judge alignment. This is not a business I can confidently call a stalwart or a grower. It is an asset play, at best. The ₹6 crore market cap versus roughly ₹10.6 crore of book value leaves room if assets are real and costs are controlled. But until I see revenue returning, audited financials with adequate asset cover, and clear use of capital, I will keep my money in the bank. Price is what you pay; value is what you get. Here, the value remains unverified.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer