SPP Polymer Limited

SPP Polymer Limited (SPPPOLY) is a micro-cap Capital Goods company valued at ₹17 crore operating in Packaging on the NSE and BSE.

Recent price move

SPP Polymer Limited last traded at ₹11.25, unchanged on the day.

Recent developments

2026-09-07: The DocStoX score improved from 4.7 to 6.0, and the verdict changed from avoid to hold, suggesting a reassessment of the stock's risk profile. 2026-07-15: The score was lower, indicating concerns about the company's fundamentals at that time.

Financial performance

The company's revenue grew 2.8% annually, but net profit swung from a profit of ₹1 crore to a loss of ₹4 crore, with net profit margin falling to -3.6% from 0.9%. The latest quarter showed revenue rose 5.6% year-on-year, but net profit swung from a profit of ₹0 crore to a loss of ₹3 crore, indicating worsening profitability.

Valuation multiples

A price-to-earnings ratio is not meaningful here because the company is loss-making; the stock trades at 0.38 times book value.

Things to watch

The company's net profit margin is -3.6%, showing it is unprofitable. Debtor days have increased to 75.0 days, indicating slower collections and potential cash flow issues. The low interest coverage ratio suggests the company may struggle to meet its debt obligations.

Where it stands

The DocStoX verdict of hold follows from the company's mixed performance, with revenue growth but declining profitability and worsening balance sheet metrics. The most critical factor is the persistent net loss and deteriorating net profit margin, which signal ongoing challenges in turning the business around.

Summarised by DocStoX's model on 2026-09-08 from company filings, exchange data and news. This is a factual summary, not a rating or a recommendation. Informational only, not investment advice. Consult a SEBI-registered adviser before investing.