Barflex PolyfilmsShare price, financial results, shareholding and management
- Market cap
- ₹150 cr
- Stock P/E
- 37.4peers 27.9
- Book value
- ₹38.8
- Price to book
- 1.56
- EV / operating profit
- 28.0
- Market cap to sales
- 1.26
- ROCE · FY26
- 7.7%
- ROE · FY26
- 4.3%
- ROE, 3-year average
- 18.1%
- Operating margin · FY26
- 5.0%peers 10.7%
- Sales growth, 3 years
- 3.0%
- Profit growth, 3 years
- -26.3%
- Debt to equity
- 0.21peers 0.38
- Borrowings
- ₹20 cr
- Interest cover
- 8.0×
- Cash from business / op. profit
- 83%
- Debtor days
- 80
- Pledged
- 0.00%
- Promoter holding
- 67.22%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 797
- 52-week high / low
- ₹79 / ₹49
- 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.
Barflex Polyfilms share price chart
Close on 6 Nov 2026 · +0.83% on the day · Vol 4,000
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
- +8.8%
- 3 months
- +10.0%
- 6 months
- -0.8%
- 1 year
- -22.4%
- Since IPO
- +0.8%
- Traded a day, 20 days
- ₹0.12 cr
- Taken for delivery
- 64%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +22% | -74% |
| 3 years, a year | +3% | -26% |
| Latest half, H2 FY26 | +28% | -73% |
About Barflex Polyfilms: business, products and customers
Barflex Polyfilms makes plastic packaging films, printed laminates, pouches and shrink labels that food, consumer goods, medicine and paint makers use to pack their products, at Baddi in Himachal Pradesh. Its shares trade on NSE Emerge.
Barflex Polyfilms turns plastic granules into multi layer co-extruded films, prints and laminates them into rolls and pouches, and makes BOPP and PVC shrink labels for bottles. Its customers are manufacturers of milk and dairy products, edible oil and ghee, snacks, tea, spices, hair and skin care products, adhesives and paints, who fill their own goods into its packs. It designs the pack, makes the film and finishes the packaging in one place at Baddi, where a second unit nearby started production in FY26.
The managing director says prices are set openly in line with raw material costs, so sales move with polymer prices as much as with volumes, and the margin on each tonne is what the company keeps. Until FY25 a large part of reported profit came from interest and gains on its cash and investments rather than from making packaging, and that income shrank in FY26 as the money went into the new plant and new companies.
Read more about the business
Since listing it has set up Barflex Flexibles in Alwar, Rajasthan with Mahesh Edible Oil Industries holding 40%, bought 51% of the label maker BA Flexpack in Faridabad, and in April 2026 bought all of Rohit Poly Foams. The company's documents do not name competitors or listed peers.
From the FY25 and FY26 annual reports and the June 2025 investor presentation. There is no offer document among the company's filings read here.
Read the deeper study ↓In its favour
- It brings in more cash than it shows as profit: ₹5 cr against ₹4 cr in FY26.
- It has little debt for its size: debt to equity 0.21.
- The promoters own a large part of the company: 67.22%.
To watch
- Production and sales at the Alwar joint venture, which the June 2025 presentation said would start in the first quarter of FY26.
- Whether the BA Flexpack label business moves from loss towards the ₹18 cr to ₹20 cr a year the company spoke of.
- What Rohit Poly Foams, bought outright on 9 April 2026, adds to sales and profit.
- Customers take longer to pay than before: 80 days in FY26, against 46 in FY22.
- Its borrowings rose a lot last year: ₹20 cr, from ₹0.1 cr.
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.
Barflex Polyfilms revenue and profit growth
Half-yearly results · Profit and lossSales have grown slowly. Last year profit fell even as sales rose, so the company kept less from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.
Barflex Polyfilms half-yearly results
SME companies report every six months · ₹ crore
| H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|
| Sales | 49 | 49 | 51.06 | 62.92 |
| Expenses | 45 | 45 | 46.43 | 59.62 |
| Operating profit | 4 | 4 | 4.63 | 3.30 |
| OPM | 9.0% | 8.0% | 9.1% | 5.3% |
| Interest | 0 | 0 | 0.07 | 0.37 |
| Depreciation | 0 | 0 | 0.37 | 0.69 |
| Profit before tax | 10 | 10 | 4.79 | 3.90 |
| Net profit | 7 | 8 | 3.64 | 2.16 |
Barflex Polyfilms profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 94 | 109 | 110 | 97.54 | 119 |
| Expenses | 83 | 97 | 92 | 89.19 | 112 |
| Operating profit | 10 | 12 | 18 | 8.36 | 6 |
| OPM | 11.0% | 11.0% | 16.0% | 8.6% | 5.0% |
| Other income | 1 | 1 | 6 | 12.33 | 2 |
| Interest | 0 | 0 | 0 | 0.18 | 1 |
| Depreciation | 1 | 1 | 1 | 0.54 | 1 |
| Exceptional and other items | · | · | · | · | 1 |
| Profit before tax | 10 | 12 | 23 | 19.98 | 7 |
| Tax rate | 20.0% | 16.7% | 26.1% | 22.5% | 42.9% |
| Net profit | 8 | 10 | 17 | 15.48 | 4 |
| EPS ₹ | 3.50 | 4.46 | 7.63 | 6.69 | 1.58 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Barflex Polyfilms profitability
Margins and returns on capitalLast year the company kept less from each rupee of sales than the year before. It earns a low return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 11.0% | 11.0% | 16.0% | 8.6% | 5.0% |
| Tax rate | 20.0% | 16.7% | 26.1% | 22.5% | 42.9% |
| ROCE | · | 27.9% | 40.7% | 25.8% | 7.7% |
| ROE | · | 23.3% | 30.1% | 19.9% | 4.3% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Barflex Polyfilms debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown. It borrowed much more last year. Its loans are smaller than its own money. Last year the business brought in more cash than it showed as profit. 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.
Barflex Polyfilms balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 23 | 23 | 23 | 24.75 | 25 |
| Reserves | 15 | 25 | 42 | 66.21 | 71 |
| Net worth | 38 | 48 | 65 | 90.95 | 96 |
| Borrowings | 0 | 0 | 0 | 0.10 | 20 |
| Other liabilities | 7 | 9 | 7 | 7.83 | 20 |
| Total liabilities | 45 | 57 | 72 | 98.88 | 136 |
| Fixed assets | 6 | 6 | 5 | 5.40 | 32 |
| Capital work in progress | 0 | 0 | 0 | 2 | 15 |
| Investments | 8 | 11 | 25 | 50.79 | 13 |
| Other assets | 31 | 40 | 42 | 40.69 | 76 |
| Receivables | · | · | · | 17.72 | 26.06 |
| Inventory | · | · | · | 10.33 | 18.81 |
| Cash | · | · | · | 1.75 | 1.97 |
| Trade payables | · | · | · | 3.60 | 7.92 |
Barflex Polyfilms cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | · | 15 | 8 | -4.62 | 5 |
| Cash from investing | · | -3 | -8 | -21.82 | -23 |
| Cash from financing | · | 0 | 0 | 13.60 | 19 |
| Net cash flow | · | 12 | 0 | -12.84 | 1 |
| Capital spending | · | · | · | 4.28 | 41.66 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 46 | 48 | 47 | 66 | 80 |
| Inventory days | 72 | 37 | 51 | 54 | 79 |
| Days payable | 24 | 17 | 23 | 19 | 33 |
| Cash conversion cycle | 93 | 68 | 75 | 102 | 126 |
| Working capital days | 74 | 50 | 64 | 173 | 136 |
Barflex Polyfilms peers and competitors
Listed SME companies in the same industryBy sales, Barflex Polyfilms is number 74 of the 156 listed SME companies in industrial products.
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 |
|---|---|---|---|---|---|---|
| Technocrats Plasma Systems | 750 | 50.0 | 131 | 15 | 20.0% | 0.38 |
| Bhadora Industries | 279 | 27.9 | 125 | 10 | 13.0% | 0.22 |
| Ameenji Rubber | 296 | 49.3 | 123 | 6 | 16.0% | 1.02 |
| Rex Pipes And Cables Industries | 152 | 32.7 | 121 | 4.7 | 7.0% | 0.72 |
| Paramount Speciality Forgings | 65 | 15.3 | 120 | 4.3 | 6.2% | 0.50 |
| Barflex Polyfilms | 150 | 37.4 | 119 | 4 | 5.0% | 0.21 |
| Royal Arc Electrodes | 167 | 16.6 | 116 | 10.1 | 13.3% | 0.00 |
| SPP Polymer | 18 | - | 111 | -4.2 | -2.4% | 0.28 |
| Srivasavi Adhesive Tapes | 125 | 22.4 | 110 | 5.6 | 8.4% | 0.41 |
| Anubhav Plast | 54 | 7.7 | 109 | 7 | 13.0% | - |
| Sabar Flex India | 18 | 70.5 | 104 | 0.3 | 1.8% | 0.29 |
| Median of the 10 others | 139 | 27.9 | 118 | 5.8 | 10.7% | 0.38 |
Barflex Polyfilms 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 has come down.
Barflex Polyfilms 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.
| Jan 25 | Mar 25 | Sep 25 | Mar 26 | |
|---|---|---|---|---|
| Promoters | 66.73% | 66.73% | 67.22% | 67.22% |
| Foreign investors (FIIs) | 3.38% | 2.19% | 0.33% | - |
| Indian institutions (DIIs) | 10.56% | 6.95% | 0.86% | 1.29% |
| HNIs (over ₹2 lakh each) | 6.73% | 11.46% | 13.68% | 8.87% |
| Small holders (up to ₹2 lakh) | 11.22% | 6.28% | 9.64% | 8.25% |
| Companies and others | 1.38% | 6.39% | 8.27% | 14.37% |
| Number of shareholders | 1,531 | 667 | 835 | 797 |
The named holders are at 31 March 2026, beside 30 Sept 2025, each under the group the pattern files them in.
Barflex Polyfilms study: the business from its own documents
Read from 3 of the company's own documentsBarflex Polyfilms so far
From the company's own record
- January 2005Company formed
- 20 Jan 2025Listed on NSE Emerge at ₹60
- 31 March 2026Promoters at 67.22%
- 9 Sept 2025Highest close since listing, ₹75.56
Barflex Polyfilms key facts from the filings
Each figure with the document it comes from
- New Baddi unit
- ₹19.1 cr
- Invested in plant, machinery and other assets for the second unit at Village Kotla, Baddi, which started operating in FY26.Annual report FY26, p.8 and p.35
- New unit capacity
- 9,650 MT a year
- Installed capacity for plastic films and laminated pouches at the new unit, plus 50 MT for PVC films and sleeves.Annual report FY26, p.9 and p.35
- FY26 sales
- ₹118.7 cr
- Consolidated revenue from operations, up from ₹97.5 cr in FY25.Annual report FY26, p.32
- Other income
- ₹12.3 cr → ₹2.3 cr
- Income from outside operations, FY25 against FY26; it had carried much of FY25 profit.Annual report FY26, p.31 and p.32
- FY26 profit
- ₹3.9 cr
- Consolidated profit after tax, against ₹15.5 cr in FY25.Annual report FY26, p.32
Show 5 more facts
- Alwar joint venture
- ₹0.1 cr turnover
- FY26 sales of Barflex Flexibles, 60% owned, which made a loss of ₹0.66 cr in its first year.Annual report FY26, p.54
- Label subsidiary
- ₹5.3 cr turnover
- FY26 sales of BA Flexpack, 51% owned from May 2025, with a loss of ₹1.2 cr.Annual report FY26, p.55
- Cash and investments
- ₹50.8 cr
- Short term investments at March 2025, after the IPO; the company says it used reserves to order machines.Investor presentation, June 2025, p.24 and p.27
- Board changes
- 3 resigned
- Independent directors who resigned in FY26, citing personal reasons; two new ones joined in July 2025 and one in May 2026.Annual report FY26, p.14, p.38 and p.39
- Promoter holding
- 67.22%
- Held by Jaiwant Bery and Nomita Bery in March 2026, with nothing pledged.Shareholding pattern, March 2026
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
In its June 2025 investor presentation the company said the Alwar joint venture would start commercial production in the first quarter of FY26, with 5,520 tonnes a year of capacity and a revenue potential of ₹100 cr to ₹120 cr at full use, about two fifths taken by Mahesh Group. It put the Faridabad label business's potential at ₹18 cr to ₹20 cr a year. The FY26 annual report shows both much smaller so far, and says management is working on cost control and on widening the customer base.
| What management said | When | What happened |
|---|---|---|
| Alwar joint venture in commercial production in the first quarter of FY26 | June 2025 presentation | FY26 turnover of ₹0.1 cr |
| Label business revenue potential of ₹18 cr to ₹20 cr a year | June 2025 presentation | ₹5.3 cr in FY26, with a loss |
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.
Barflex Polyfilms earns money by converting plastic into packaging films, laminates and labels for consumer and industrial makers, on a margin over its raw material cost.
Its weak spots are a crowded, price sensitive trade, thin earnings from operations, and new ventures that have so far made losses.
WatchCan it set its own prices?Not much. Prices follow raw material costs in a market the managing director calls highly competitive.
AverageHow strong is it against rivals?It does film making, printing and lamination under one roof and has long customer ties, but its documents claim no lead over named rivals.
AverageWho are its customers?A spread of food, consumer goods, cosmetics, adhesive and paint makers, though the documents give no customer shares.
WatchDoes it need a lot of money?Yes, now. The new plant, the joint venture and the acquisitions used the IPO cash, and borrowings appeared in FY26.
AverageCan it keep finding new work?Sales grew in FY26 and new capacity and label lines give it more to offer, but it reports no order book.
AverageDo good and bad years swing a lot?Demand from food and household packers is steady, but profit has swung with raw material prices, other income and start up losses.
Who runs Barflex Polyfilms?
Promoters, directors and officers; tap a name for the background
JBJaiwant BeryPromoter and Managing Director · holds 50.45%
Post graduate diploma in management from IIM Bangalore (1983), with over 37 years in flexible packaging. Was managing director of Hitkari Industries and, after leaving it in 2005, set up Barflex; a director since incorporation in January 2005. Runs management and operations and leads new products. Also a director of Barflex Flexibles and BA Flexpack.
Investor presentation, June 2025, p.11; Annual report FY26, p.14NBNomita BeryPromoter and Non-Executive Director · holds 16.77%
Graduate with 20 years of experience; a director since incorporation in January 2005. The annual reports state that Nomita Bery is the wife of the Managing Director, Jaiwant Bery.
Annual report FY25, p.10 and p.12; Annual report FY26, p.14KMKrishan Mohan PandeyWhole Time Director
Joined the board as an additional director in December 2023 and was made Whole Time Director in May 2024. The annual reports give no further background.
Annual report FY25, p.36; Annual report FY26, p.40AKAnil Kumar GuptaChief Financial Officer
Chief Financial Officer since May 2024. The annual reports give no further background.
Annual report FY25, p.36; Annual report FY26, p.39 and p.40RJRavi Jitendra ModiIndependent Director
Chartered Accountant with about eight years of experience in financial records, risk assessment, internal control, tax and company law; also a director of Vaxtex Cotfab and Bhatia Colour Chem. Independent Director from July 2025.
Annual report FY25, p.10; Annual report FY26, p.38 and p.40Barflex Polyfilms latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹62.9 cr (+28%), net profit ₹2.2 cr (-73%) on H2 FY25.
- Shareholding, 31 March 2026: promoters unchanged at 67.22%.
Barflex Polyfilms announcements
14 on record, latest first; each opens the filing on the exchange
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under SEBI (Depositories and Participants) Regulations, 2018PDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Shareholders meetingSrutinizers report of Annual General Meeting held on August 27, 2026. Further, the company has informed the Exchange regarding voting resultsPDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on August 27, 2026PDF ↗
- Copy of Newspaper PublicationWith respect to Annual General Meeting for F.Y. ended 31-03-2026PDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on August 27, 2026PDF ↗
- Outcome of Board MeetingHeld on August 03, 2026PDF ↗
- Integrated Filing- GovernanceWith reference to the above-mentioned subject and pursuant to Regulation 15(2)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 201PDF ↗
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under SEBI (Depositories and Participants) Regulations, 2018PDF ↗
- AppointmentOf Ms Harvi Gaurav Mohta as Non- Executive Independent Director of the company w.e.f. May 29, 2026PDF ↗
- AppointmentOf M/s Harendra Kumar Pareek and Co. (Cost Auditors) as Other of the company w.e.f. May 29, 2026PDF ↗
- AppointmentOf M/s MAARS AND ASSOCIATES (Internal Auditors) as Other of the company w.e.f. May 29, 2026PDF ↗
Barflex Polyfilms annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- 30 June 2025 ↗read
Barflex Polyfilms 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 Barflex Polyfilms' data · 11
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- !For FY26 the exchange filing's profit lines do not add up as read, so the figures shown are from the results page instead.
- iThe halves of FY26 are shown standalone and the full year consolidated, as the company files them, so the two need not add up.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (2,47,49,000 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- !The two half-years of FY26 add up to ₹114.0 cr of sales against ₹119.0 cr for the full year; both are shown as reported.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Barflex Polyfilms
What does Barflex Polyfilms do?
Barflex Polyfilms makes plastic packaging films, printed laminates, pouches and shrink labels that food, consumer goods, medicine and paint makers use to pack their products, at Baddi in Himachal Pradesh. Its shares trade on NSE Emerge.
What is the share price of Barflex Polyfilms?
₹60.5 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Barflex Polyfilms?
₹150 cr at the close on 6 Nov 2026, on 2,47,49,000 shares.
What is the P/E of Barflex Polyfilms?
37.4 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Barflex Polyfilms' revenue and profit?
Revenue ₹119 cr and profit after tax ₹4 cr in FY26.
Who are the promoters of Barflex Polyfilms?
Jaiwant Bery, Nomita Bery; promoters held 67.22% at 31 March 2026.
What was the IPO price of Barflex Polyfilms?
₹60 a share; it listed on 20 Jan 2025.
What is Barflex Polyfilms' website?
www.barflex.co.in
More SME companies like Barflex Polyfilms
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- Shri TechtexSHRITECH · NSE Emerge · Industrial Products · listed 2023Market cap ₹143 cr
- Maiden ForgingsMAIDEN · BSE SME · Industrial ProductsMarket cap ₹140 cr
- Shubhshree Biofuels EnergySHUBHSHREE · NSE Emerge · Industrial Products · listed 2024Market cap ₹163 cr
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Every listed SME company in Industrial Products → · SME companies listed in 2025 →
Built from 2 annual reports, 1 investor presentation, 14 exchange announcements, 4 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.