Atharva Poly-PlastShare price, financial results, shareholding and management
- Market cap
- ₹171 cr
- Stock P/E
- 26.4peers 16.0
- Book value
- ₹15.9
- Price to book
- 8.71
- EV / operating profit
- -
- Market cap to sales
- 3.14
- ROCE · FY26
- 38.1%
- ROE · FY26
- 39.6%
- ROE, 3-year average
- 39.4%
- Operating margin · FY26
- 17.9%peers 12.3%
- Sales growth, 3 years
- 6.3%
- Profit growth, 3 years
- 108.9%
- Debt to equity
- 0.50peers 0.33
- Borrowings
- ₹9.8 cr
- Interest cover
- 7.1×
- Cash from business / op. profit
- 18%
- Debtor days
- 79
- Pledged
- 0.00%
- Promoter holding
- 100.00%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 7
- 52-week high / low
- ₹139 / ₹69
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Atharva Poly-Plast share price chart
Close on 6 Nov 2026 · +4.69% on the day · Vol 56,000
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +5.4%
- 3 months
- +78.6%
- Traded a day, 20 days
- ₹0.61 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +14% | +28% |
| 3 years, a year | +6% | +109% |
About Atharva Poly-Plast: business, products and customers
Atharva Poly-Plast moulds plastic parts such as office chair bases, arm rests and refrigerator trays for furniture and home appliance makers at its plant in Satara, Maharashtra. Its shares trade on BSE SME.
Atharva Poly-Plast, set up in Pune in 2014, runs one owned injection moulding plant at Khandala in Satara district. It takes plastic granules and bought parts such as fasteners and hinges and turns them into parts to each customer's design: star bases, seat bases, back frames and adjustable arms for office chairs, crisper trays, door racks and air ducts for refrigerators, fan parts for air conditioners and a few motorcycle covers. It also helps design the part and build the mould before production starts.
Office furniture is now the largest business, about half of sales, up from little more than a quarter three years earlier, while appliance parts have shrunk and two wheeler parts have almost gone. Nearly all sales are in India, mostly to customers in Maharashtra, with small exports to the USA, but several customers are global furniture and appliance brands; the offer document notes quality awards from Steelcase.
Read more about the business
The way it works shapes the numbers. Raw material is about seven tenths of revenue, so sales include the price of the plastic and margins depend on how much design and assembly work goes into each part. Orders come on short purchase orders from about ten customers, so a single customer's programme can move a year's sales, and the declared order book covers only a few months. Customers take time to pay, and the IPO set aside most of its money for working capital.
The offer document names Master Components, Premium Plast and Srigee DLM, listed makers of injection moulded parts for appliances, vehicles and industry, as key players in the field, and compares its figures with Master Components.
From the offer document (RHP, June 2026), the FY26 annual report and the FY26 results filed with BSE on 30 September 2026.
Read the deeper study ↓In its favour
- It earns a high return on the money it uses: ROCE 38% in FY26.
- The promoters own a large part of the company: 100.00%.
To watch
- Use of the IPO money for working capital, machinery and loan repayment, planned by September 2026 (offer document, p.93).
- Concentration: whether the top ten customers stay near all of revenue, and whether the ₹20.3 cr order book grows (offer document, p.30 and p.98).
- Exchange filings: BSE wrote on 28 September 2026 that the FY26 results were filed in XBRL but not PDF under Regulation 33, and the company resubmitted them on 30 September after earlier revising them for clerical corrections (FY26 results filed 30 September 2026, p.1).
- Dealings with promoter firms Prasad Meditech and Prasad Plastic and Engineering Works, and zero coupon debentures held by Atharva Polymers Private Limited, repaid as state subsidy tranches arrive (offer document, p.62; annual report FY26, p.24 and p.25).
- Customers take longer to pay than before: 79 days in FY26, against 61 in FY23.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Atharva Poly-Plast revenue and profit growth
Half-yearly results · Profit and lossSales have grown slowly. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months.
Atharva Poly-Plast half-yearly results
SME companies report every six months · ₹ crore
| H2FY26 | |
|---|---|
| Sales | 33.72 |
| Expenses | 30 |
| Operating profit | 3.73 |
| OPM | 11.1% |
| Interest | 0.60 |
| Depreciation | 0.89 |
| Profit before tax | 2.38 |
| Net profit | 1.76 |
Atharva Poly-Plast profit and loss
Full years to March, FY23 to FY26 · ₹ crore, consolidated where reported
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Sales | 45.30 | 41.49 | 47.54 | 54.39 |
| Expenses | 41.94 | 37.02 | 39.86 | 44.65 |
| Operating profit | 3.36 | 4.47 | 7.68 | 9.74 |
| OPM | 7.4% | 10.8% | 16.1% | 17.9% |
| Other income | 1.52 | 1.61 | 1.44 | 1.51 |
| Interest | 2.15 | 1.59 | 1.05 | 1.35 |
| Depreciation | 1.92 | 1.88 | 1.61 | 1.64 |
| Profit before tax | 0.81 | 2.61 | 6.46 | 8.25 |
| Tax rate | 12.3% | 23.4% | 21.5% | 21.6% |
| Net profit | 0.71 | 2 | 5.07 | 6.47 |
| EPS ₹ | 1.09 | 3.08 | 7.80 | 5.24 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
Atharva Poly-Plast profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Operating margin | 7.4% | 10.8% | 16.1% | 17.9% |
| Tax rate | 12.3% | 23.4% | 21.5% | 21.6% |
| ROCE | · | 19.4% | 35.5% | 38.1% |
| ROE | · | 29.8% | 48.7% | 39.6% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
Atharva Poly-Plast debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Atharva Poly-Plast balance sheet
At each 31 March · ₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Equity capital | 6.50 | 6.50 | 6.50 | 12.35 |
| Reserves | -0.78 | 1.22 | 6.61 | 7.23 |
| Net worth | 5.72 | 7.72 | 13.11 | 19.58 |
| Borrowings | 16.17 | 13.59 | 7.91 | 9.76 |
| Other liabilities | 11.02 | 11.35 | 9.86 | 14.44 |
| Total liabilities | 32.91 | 32.66 | 30.88 | 43.78 |
| Fixed assets | 18.15 | 16.85 | 15.49 | 17.55 |
| Capital work in progress | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 |
| Other assets | 14.76 | 15.81 | 15.39 | 26.23 |
Atharva Poly-Plast cash flow
₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Cash from operations | 7.75 | 2.86 | 6.98 | 1.73 |
| Cash from investing | -1.91 | 0.96 | 1.56 | -2.37 |
| Cash from financing | -5.02 | -4.06 | -6.73 | 0.10 |
| Net cash flow | 0.82 | -0.24 | 1.81 | -0.54 |
Working capital
Days
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Debtor days | 61 | 62 | 33 | 79 |
| Inventory days | 47 | 61 | 67 | 74 |
| Days payable | 76 | 85 | 73 | 94 |
| Cash conversion cycle | 32 | 39 | 28 | 59 |
| Working capital days | -64 | -70 | -23 | 13 |
Atharva Poly-Plast peers and competitors
Listed SME companies in the same industryBy sales, Atharva Poly-Plast is number 58 of the 79 listed SME companies in consumer durables.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Shubhlaxmi Jewel Art | 17 | 16.1 | 62.7 | 1.1 | 4.2% | 0.57 |
| Luxury Time | 61 | 11.1 | 60 | 5.5 | 11.7% | 0.05 |
| Veerkrupa Jewellers | 6 | 35.5 | 59.4 | 0.2 | 0.2% | 0.58 |
| Siddhika Coatings | 124 | 11.9 | 57.9 | 10.4 | 21.9% | 0.00 |
| Goblin India | 17 | 7.5 | 55.4 | 2.3 | 6.5% | 0.30 |
| Atharva Poly-Plast | 171 | 26.4 | 54.4 | 6.5 | 17.9% | 0.50 |
| Yash Optics & Lens | 315 | 34.8 | 54 | 9.1 | 27.3% | 0.05 |
| Maruti Interior Products | 212 | 21.2 | 53 | 10 | 13.0% | 0.59 |
| Milton Industries | 62 | 34.8 | 46.4 | 1.8 | 9.5% | 0.34 |
| Omara Ventures India | 138 | 14.7 | 45.9 | 9.4 | 31.8% | 1.79 |
| Black Opal Consultants | 190 | 15.9 | 42 | 12 | 40.0% | 0.31 |
| Median of the 10 others | 93 | 16 | 54.7 | 7.3 | 12.3% | 0.33 |
Atharva Poly-Plast shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders is about the same.
Atharva Poly-Plast shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Jun 26 | Jul 26 | |
|---|---|---|
| Promoters | 100.00% | 100.00% |
| Number of shareholders | 7 | 7 |
Atharva Poly-Plast study: the business from its own documents
Read from 4 of the company's own documentsAtharva Poly-Plast key facts from the filings
Each figure with the document it comes from
- Office furniture share of sales
- 51.19%
- In the ten months to January 2026, up from 27.98% in FY23; home appliance parts fell to 25.28% from 59.20%.Offer document, p.154
- Biggest customer
- 24.42%
- Share of revenue in the ten months to January 2026; the top ten customers gave 97.43%.Offer document, p.30
- Order book
- ₹20.3 cr
- Across ten customers at 31 March 2026, a few months of sales.Offer document, p.98
- FY26 revenue
- ₹54.4 cr
- Up from ₹47.5 cr in FY25; profit after tax was ₹6.5 cr against ₹5.1 cr.Annual report FY26, p.77; FY26 results filed 30 September 2026, p.25
- Net profit margin
- 11.89%
- In FY26, against 10.68% in FY25; in FY23 it was under 2%.Annual report FY26, p.49; offer document, p.147
Show 5 more facts
- Moulding machines
- 21
- With about 30% of capacity spare, so more work can be taken without a new building.Annual report FY26, p.52
- Capacity in kg a year
- 18,00,000 → 22,56,300
- The rise expected once machinery bought with IPO money is installed.Offer document, p.96 and p.161
- IPO fresh shares
- 45,00,000
- Listed on BSE SME on 7 July 2026; ₹13.0 cr of the money is for working capital, ₹3.0 cr for machinery and moulds and ₹3.0 cr to repay a loan.Offer document, p.1 and p.93; annual report FY26, p.26
- Sales in Maharashtra
- 91.28%
- Of FY25 revenue; exports to the USA were 0.69%.Offer document, p.155 and p.156
- Debt to equity
- 0.60 → 0.50
- March 2025 to March 2026, before the IPO money arrived.Annual report FY26, p.49
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company says it had orders of about ₹20 crore in hand at the end of March 2026 and that the machinery bought with IPO money will lift yearly capacity to about 22.6 lakh kilograms. The offer document planned to spend the IPO money by September 2026. For FY27 the annual report lists priorities rather than figures: more premium furniture parts, more business from existing global customers, new customers, replacing imported parts and selective spending on capacity and automation.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Atharva earns its money turning plastic into parts that office chair and appliance makers design with it, and its profit has improved as chair parts took over.
Its weak spot is how few customers it serves and how little work it holds in hand at any time.
AverageCan it set its own prices?Partly. It supplies large makers on short orders in a crowded field, but more design and assembly work has lifted its margins.
AverageHow strong is it against rivals?It holds the audits and certifications that global brands ask for, but many moulders can make similar parts, and customers can make them in house.
WatchWho are its customers?A handful of furniture and appliance makers, some of them global brands, take nearly everything it makes.
AverageDoes it need a lot of money?Machines and moulds cost little, but money waiting on customers and stock is large, and most of the IPO money went there.
AverageCan it keep finding new work?It has added furniture work steadily, but orders in hand cover only a few months and total sales grew slowly over three years.
WatchDo good and bad years swing a lot?Profit has moved a lot with the product mix, from almost nothing to a healthy margin within three years.
Who runs Atharva Poly-Plast?
Promoters, directors and officers; tap a name for the background
ASAnujit Shivaji DaradePromoter and Managing Director · holds 77.44% pre-IPO
Bachelor of Engineering in polymer from the University of Pune, with the company since it was formed and more than a decade in plastic products; Managing Director for five years from 29 April 2025 at ₹0.02 cr a month. Also a director of Torkflux India. The offer document states Anujit Shivaji Darade is the son of Shivaji Kisan Darade and Sadhana Shivaji Darade and the brother of Ashish Shivaji Darade.
Offer document, p.185, p.187, p.188 and p.200SKShivaji Kisan DaradePromoter and Executive Director · holds 18.95% pre-IPO
On the board since 2021 with over a decade in plastic manufacturing operations; runs the proprietorship Prasad Meditech, which purchases goods from the company and has received advances from it, and is a designated partner of Prasad Meditech (India) LLP.
Offer document, p.185, p.187 and p.62ASAshish Shivaji DaradePromoter, Executive Director and Chief Financial Officer · holds 1.80% pre-IPO
B.Com from the University of Pune, with more than a decade in financial planning, budgets and compliance; heads marketing as a director and finance as CFO.
Offer document, p.186 and p.187SSSadhana Shivaji DaradePromoter and Non-Executive Director · holds 1.80% pre-IPO
More than 25 years in the industry and sole proprietor of Prasad Plastic and Engineering Works since 1999, a firm the company both purchases from and supplies to; on the board since August 2025.
Offer document, p.186, p.187 and p.62ARAnkita Ravindra GandhiCompany Secretary and Compliance Officer
Associate member of the Institute of Company Secretaries of India with B.Com and M.Com degrees from Pune; earlier with Infiiloom Textiles; appointed 2 May 2025.
Offer document, p.199ANAmruta Nishant PatilIndependent Director
Company secretary with B.Com and M.Com degrees from Shivaji University, Kolhapur; earlier a trainee at Ranjeet Khandekar and Associates; on the board since 10 July 2025. Joined the board on the day Jayamala Nitin Katkar, an independent director appointed on 1 May 2025, resigned.
Offer document, p.186 and p.187; annual report FY26, p.36PBPrity BishwakarmaIndependent Director
Company secretary with a B.Com from the University of Calcutta and a sole practice, earlier with Kypton Industries; on the board since 10 May 2025.
Offer document, p.187Atharva Poly-Plast latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- Shareholding, 31 July 2026: promoters unchanged at 100.00%.
Atharva Poly-Plast announcements
8 on record, latest first; each opens the filing on the exchange
- Company UpdateCertificate of Non-Applicability of Regulation 27(2) of SEBI LODR, for the quarter ended September 2026PDF ↗
- Company UpdateCertificate under Reg 74(5) of SEBI (DP) Regulations, 2018 for the quarter ended September 2026PDF ↗
- Company UpdateSubmission of Standalone Financial Results in response to BSE email dated 28th September, 2026PDF ↗
- Company UpdateComments of the Board of Directors of the Company with respect to BSE Emails dated 11th September 2026 and 15th September 2026PDF ↗
- Company UpdateRe-appointment of Mr. Ashish Shivaji Darade (DIN: 08237333) as a Director of the Company, liable to retire by rotationPDF ↗
- AGM/EGMCopy of voting results along with the Scrutinizers Report pertaining to the 13th AGM of the CompanyPDF ↗
- AGM/EGMProceedings of 13th AGM of the Company held on Thursday, 24th September, 2026 at 11:00 A.M., through Video Conferencing/Other Audio Visual MeansPDF ↗
- Insider Trading / SASTIntimation for Closure of Trading Window from Thursday, 01st October, 2026 till 48 hours after the conclusion of Board Meeting for consideration and approval ofPDF ↗
Atharva Poly-Plast annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
Atharva Poly-Plast share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Atharva Poly-Plast's data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- iThe shares traded on only 70 days in the past year, so the price, its range and the returns here rest on few trades.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,23,49,998 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY23 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Atharva Poly-Plast
What does Atharva Poly-Plast do?
Atharva Poly-Plast moulds plastic parts such as office chair bases, arm rests and refrigerator trays for furniture and home appliance makers at its plant in Satara, Maharashtra. Its shares trade on BSE SME.
What is the share price of Atharva Poly-Plast?
₹139 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Atharva Poly-Plast?
₹171 cr at the close on 6 Nov 2026, on 1,23,49,998 shares.
What is the P/E of Atharva Poly-Plast?
26.4 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Atharva Poly-Plast's revenue and profit?
Revenue ₹54 cr and profit after tax ₹6 cr in FY26.
Who are the promoters of Atharva Poly-Plast?
Anujit Shivaji Darade, Shivaji Kisan Darade, Ashish Shivaji Darade, Sadhana Shivaji Darade; promoters held 100.00% at 31 July 2026.
What is Atharva Poly-Plast's website?
atharvapolyplast.in
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Built from 2 annual reports, 1 offer document, 1 result filing, 8 exchange announcements, 2 shareholding patterns and 4 years of reported results. Every figure carries its source; where the documents are silent, the page says so.