BALCO

Solve Plastic Products Limited

Listed company · ISIN INE0U0201016 · NSE SM · FV ₹10
Last price
₹19
+0.53%today
What this company does

Solve Plastic Products Limited is a listed company. It booked ₹24 cr of revenue in its latest half year (H2 FY26) and kept 0.1% of sales as profit.

41out of 100
Equitytale Health Score
Strained

Healthier than 41% of listed companies we score, on the 5 of 6 measures we could read for it. Each measure is ranked against the 2,334–2,885 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
43

At close. Not part of the score.

Profitability & returns18

How much profit it earns on the money it employs

Balance sheet9

How much it owes, and whether earnings cover the interest

Cash quality94

Whether reported profit actually arrives as cash

Valuation29

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
A mixed picture
Strengths
✓ Makes a profit
✓ Sales up 11% vs last year
✓ Promoters hold 63%
✓ No promoter shares pledged
Watch-outs
! Thin 0.1% net margin
! Low 0.6% return on equity
! Carries high debt (D/E 1.9)

What if I invest in BALCO?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest half year + price
₹19▲ +0.53%
latest close · 2026-10-01
52-wk low ₹1726 sessions so far52-wk high ₹21
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio237.5High
LowAverageHigh
P/B ratio1.37Moderate
Below bookModerateHigh
EV / EBITDA21.5High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity0.6%Weak
WeakFairStrong ▸15%
Return on capital6.9%Weak
WeakFairStrong
Net margin0.1%Thin
ThinDecentStrong
EBITDA margin1.9%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity1.87High
LowModerateHigh ▸1
Interest cover0.9×Risky
RiskyOkayStrong ▸5×
Current ratio1.13Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹8 cr
Book value
₹14
EPS
₹0.04
latest half year
Net debt
₹11 cr
owes more than its cash
Enterprise value
₹20 cr
EBITDA
₹91.3 L
annualised
EBIT
₹91.3 L
annualised
Operating margin
1.9%
Return on assets
0.1%
Earnings yield
0.42%
P/S
0.17
Sales / share
₹108.8
Tax rate
—
Face value
₹10
Shares
0.4 cr
Working capital
₹2 cr
Current assets
₹18 cr
Current liabilities
₹16 cr
Delivery %
86.7%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest half year; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-10-01.

Worth vs price · from the exchange filings
not investment advice
Hard to value confidentlyLow confidence
Too few reliable models — the filings don't support two independent estimates of value.

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · H2 FY26 (consolidated)
Revenue from Operations₹24 cr
Other Income₹11.5 L
Total Income₹24 cr
Cost of Materials₹16 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-23.4 L
Employee Benefit Expense₹3 cr
Finance Costs₹51.5 L
Other Expenses₹4 cr
Total Expenses₹24 cr
Profit before Tax₹-5.8 L
Tax Expense₹-7.7 L
Net Profit₹1.9 L
Net margin on total income0.1%
Where the money goes · H2 FY26
% of total income
Materials + stock-in-trade₹16 cr67.0%
Employee benefit expense₹3 cr10.5%
Finance costs₹51.5 L2.1%
Other expenses₹5 cr20.4%
Profit for the period₹1.9 L0.1%
Total income ₹24 cradds up to ₹100 ✓
Half-yearly results · consolidated (₹ cr)
MetricH2 FY25H1 FY26H2 FY26
Revenue21 cr22 cr24 cr
Total income22 cr22 cr24 cr
Expenses25 cr22 cr24 cr
Profit before tax-4 cr65.6 L-5.8 L
Tax-92.5 L23.7 L-7.7 L
Net profit (owners' share)-3 cr41.8 L1.9 L
Net margin (owners' share, on revenue)-13.3%1.9%0.1%
EPS (₹)-7.350.960.04
YoY (latest quarter): total income +10.8% · net profit —
Balance sheet & cash flow · as of Mar 2026
High debt
Total assets
₹29 cr
Shareholder equity
₹6 cr
parent shareholders
Total debt
₹11 cr
Cash
₹0.37 L
Who owns it · 2026-06-30
No pledge
Promoter
63.4%
Public
36.6%
Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 24 named members
owning 63.4% between them · as of 2026-06-30
SUDHEER KUMAR BALAKRISHNAN NAIR40.93%
VINODKUMAR BHARGAVANNAIR9.16%
SUSIL BALAKRISHNAN NAIR4.07%
BALAKRISHNAN NAIR2.15%
SUNITHA VINODKUMAR1.73%
GOVIND VINODKUMAR1.14%
MALAVIKA VINOD KUMAR1.03%
ARAVIND SUDHEER KUMAR0.92%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹12 cr raised in Aug 2024 by selling shares to the public

As of Mar 2026, the company says it has spent 75% of what it set aside, leaving ₹3 cr still to be spent.

Funding Capital Expenditure towards purchase of additional plant and machinery
46%
₹3 cr of ₹6 cr
Working capital Requirements
100%
₹4 cr of ₹4 cr
General Corporate Expenses
100%
₹88 L of ₹88 L
Issue Related Expenses
100%
₹2 cr of ₹2 cr
Spent by quarter: 73% → 75% (to Mar 2026)
₹12 cr raised in Aug 2024 by selling shares to the public

As of Mar 2025, the company says it has spent 61% of what it set aside, leaving ₹5 cr still to be spent.

Funding Capital Expenditure towards purchase of additional plant and machinery
17%
₹92 L of ₹6 cr
Working capital Requirements
100%
₹4 cr of ₹4 cr
General Corporate Expenses
100%
₹88 L of ₹88 L
Issue Related Expenses
100%
₹2 cr of ₹2 cr

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.