Renol PolychemShare price, financial results, shareholding and management
- Market cap
- ₹71 cr
- Stock P/E
- 8.6peers 14.3
- Book value
- ₹82.8
- Price to book
- 0.71
- EV / operating profit
- 6.6
- Market cap to sales
- 0.79
- ROCE · FY26
- 16.6%
- ROE · FY26
- 14.5%
- ROE, 3-year average
- 29.9%
- Operating margin · FY26
- 13.1%peers 12.8%
- Sales growth, 3 years
- +44.4%
- Profit growth, 3 years
- +65.0%
- Debt to equity
- 0.17peers 0.32
- Borrowings
- ₹17.1 cr
- Interest cover
- 39.4×
- Cash from business / op. profit
- -342%
- Debtor days
- 265
- Pledged
- 0.00%
- Promoter holding
- 51.10%
- Change in promoter holding
- +2.94 pts
- Shareholders
- 599
- 52-week high / low
- ₹158 / ₹53
- 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.
Renol Polychem share price chart
Close on 6 Nov 2026 · 0.00% on the day · Vol 4,800
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
- -26.0%
- 3 months
- -30.5%
- 6 months
- -56.3%
- 1 year
- -57.8%
- Since IPO
- -43.8%
- Traded a day, 20 days
- ₹0.12 cr
- Taken for delivery
- 79%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +44% | +65% |
| 3 years, a year | - | - |
| Latest half, H2 FY26 | +46% | +106% |
About Renol Polychem: business, products and customers
Renol Polychem makes coloured and additive pellets and ready-mixed additive packs that plastic pipe and plastic goods makers blend into their raw plastic, at a plant in Rajkot, Gujarat. Its shares trade on NSE Emerge.
The business began in 2008 as a partnership, Renol Enterprises, started manufacturing in 2020 and became a company in January 2024. At Kothariya, Rajkot it makes colour masterbatches, colour pigment, filler granules, anti-moisture powder, carbon noodles, impact modifiers, processing aid and Superpack and Onepack stabiliser blends for UPVC and CPVC pipes; it also trades tin stabilisers, carbon powder and waxes. Its customers are pipe, plastic furniture, kitchenware, wire and cable, toy and bag makers, mostly in Gujarat.
Renol earns the gap between what it pays for polymers, pigments and chemicals and what processors pay for the compounded product, so its margin moves with raw material prices and product mix. Stock and money owed by customers are large against sales, which shapes cash flow more than the small plant does. The offer document names Deep Polymers and G M Polyplast as listed makers of masterbatches and plastic compounds.
Read more about the business
After listing on NSE Emerge in August 2025 the company changed shape. It raised equity through a preferential issue and issued warrants to promoters, bought land, lent to related parties, and in February and March 2026 took 99.8% of Colo Farmtech Private Limited and 51% of Harmony Ply-Lam Limited. The annual report does not describe what the two subsidiaries do; Harmony Ply-Lam made a large loss in FY26.
From the draft offer document (business, capacity, customers, peers, directors and promoters) and the FY26 annual report (directors' report, AOC-1 and AOC-2, management discussion and analysis, standalone and consolidated financial statements).
Read the deeper study ↓In its favour
- Sales have grown fast: 44% a year last year.
- It has little debt for its size: debt to equity 0.17.
To watch
- Results of Harmony Ply-Lam, which lost ₹11.2 cr in FY26, now consolidated for a full year (Annual report FY26, p.41).
- Conversion of the remaining promoter warrants at ₹134 within eighteen months of allotment (Annual report FY26, p.22 and p.23).
- Repayment of the ₹7.5 cr lent to related parties (Annual report FY26, p.60).
- The first full year under the new statutory auditor, appointed after M/s K. M. Chauhan and Associates resigned (Annual report FY26, p.16).
- Its borrowings rose a lot last year: ₹17.1 cr, from ₹7 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.
Renol Polychem revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew faster than sales, so the company kept more 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 faster than sales.
Renol Polychem half-yearly results
SME companies report every six months · ₹ crore
| H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|
| Sales | 28.86 | 33.44 | 40.06 | 48.94 |
| Expenses | 25.83 | 29.34 | 36.74 | 40.64 |
| Operating profit | 3.03 | 4.10 | 3.32 | 8.30 |
| OPM | 10.5% | 12.3% | 8.3% | 17.0% |
| Interest | 0.21 | 0.40 | 0.18 | 0.10 |
| Depreciation | 0.06 | 0.08 | 0.09 | 0.41 |
| Profit before tax | 2.93 | 3.73 | 3.19 | 7.87 |
| Net profit | 2.20 | 2.80 | 2.38 | 5.76 |
Renol Polychem profit and loss
Full years to March, FY24 to FY26 · ₹ crore, consolidated where reported
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Sales | 6.45 | 62.30 | 89.99 |
| Expenses | 4.22 | 55.15 | 78.23 |
| Operating profit | 2.23 | 7.15 | 11.76 |
| OPM | 34.6% | 11.5% | 13.1% |
| Other income | 0.07 | 0.26 | 0.21 |
| Interest | 0.10 | 0.60 | 0.29 |
| Depreciation | 0.02 | 0.14 | 0.54 |
| Profit before tax | 2.18 | 6.67 | 11.14 |
| Tax rate | 29.8% | 25.0% | 25.9% |
| Net profit | 1.53 | 5 | 8.25 |
| EPS ₹ | 2.79 | 9.11 | 6.83 |
| Dividend payout | 0.0% | 0.0% | 0.0% |
Renol Polychem 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 moderate return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Operating margin | 34.6% | 11.5% | 13.1% |
| Tax rate | 29.8% | 25.0% | 25.9% |
| ROCE | · | 46.1% | 16.6% |
| ROE | · | 45.4% | 14.5% |
| Dividend payout | 0.0% | 0.0% | 0.0% |
Renol Polychem debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It borrowed much more last year. Its loans are smaller than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers pay faster than they did in FY24, which frees up the company's money.
Bars below the line are cash going out.
Renol Polychem balance sheet
At each 31 March · ₹ crore
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Equity capital | 5.49 | 5.49 | 12.08 |
| Reserves | 3.20 | 7.84 | 88.03 |
| Net worth | 8.69 | 13.33 | 100.11 |
| Borrowings | 2.58 | 6.95 | 17.09 |
| Other liabilities | 4.22 | 3.13 | 83.51 |
| Total liabilities | 15.49 | 23.41 | 200.71 |
| Fixed assets | 0.39 | 0.34 | 34.55 |
| Capital work in progress | 0 | 0 | 0 |
| Investments | 0 | 0.30 | 7.44 |
| Other assets | 15.10 | 22.77 | 158.72 |
| Receivables | · | · | 65.36 |
| Inventory | · | · | 50.71 |
| Cash | · | · | 11.14 |
| Trade payables | · | · | 57.51 |
Renol Polychem cash flow
₹ crore
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Cash from operations | 1.20 | -1.28 | -40.20 |
| Cash from investing | 0 | -0.55 | -60.55 |
| Cash from financing | -0.30 | 3.78 | 108.92 |
| Net cash flow | 0.90 | 1.95 | 8.17 |
| Capital spending | · | · | 22.40 |
Working capital
Days
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Debtor days | 351 | 53 | 265 |
| Inventory days | · | 64 | 258 |
| Days payable | · | 8 | 292 |
| Cash conversion cycle | 351 | 109 | 231 |
| Working capital days | 415 | 56 | 210 |
Renol Polychem peers and competitors
Listed SME companies in the same industryBy sales, Renol Polychem is number 26 of the 44 listed SME companies in chemicals & petrochemicals.
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 |
|---|---|---|---|---|---|---|
| Neochem Bio Solutions | 186 | 15.1 | 111 | 12.3 | 17.9% | 0.23 |
| Silkflex Polymers (India) | 284 | 23.6 | 110 | 12 | 20.0% | 1.29 |
| Paragon Fine and Speciality Chemical | 104 | 11.5 | 110 | 9.1 | 11.6% | 0.01 |
| Mahickra Chemicals | 280 | 55.9 | 106 | 5 | 7.0% | 0.24 |
| Arunaya Organics | 24 | 6.5 | 103 | 3.7 | 6.1% | 0.44 |
| Yasons Chemex Care | 16 | 16.7 | 96.8 | 0.9 | -0.6% | 0.32 |
| Renol Polychem | 71 | 8.6 | 90 | 8.3 | 13.1% | 0.17 |
| Shlokka Dyes | 67 | 13.5 | 81.9 | 5 | 13.9% | 0.31 |
| Biopol Chemicals | 51 | 5.7 | 81.1 | 9 | 16.6% | 0.17 |
| Shanti Inorganics | 364 | 36.4 | 71 | 10 | 22.0% | 0.63 |
| Saroja Pharma Industries India | 16 | 10.1 | 70.1 | 1.6 | 5.3% | 0.83 |
| Median of the 10 others | 86 | 14.3 | 100 | 7 | 12.8% | 0.32 |
Renol Polychem shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company, a little less than in the first filing shown. Big foreign and Indian funds own very little. The number of shareholders is about the same.
Renol Polychem 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.
| Aug 25 | Sep 25 | Jan 26 | Mar 26 | |
|---|---|---|---|---|
| Promoters | 69.10% | 69.10% | 48.16% | 51.10% |
| Foreign investors (FIIs) | 1.28% | 0.68% | 0.00% | - |
| Indian institutions (DIIs) | 6.78% | 3.63% | 0.00% | - |
| HNIs (over ₹2 lakh each) | - | 3.91% | 21.67% | 20.60% |
| Small holders (up to ₹2 lakh) | 19.08% | 17.63% | 19.56% | 16.89% |
| Companies and others | - | 5.05% | 10.61% | 11.41% |
| Number of shareholders | 660 | 573 | 633 | 599 |
The named holders are at 31 March 2026, beside 30 March 2026, each under the group the pattern files them in.
Renol Polychem study: the business from its own documents
Read from 2 of the company's own documentsRenol Polychem so far
From the company's own record
- 7 Aug 2025Listed on NSE Emerge at ₹105
- 7 Oct 2026An order announced
- 31 March 2026Promoters at 51.10%
- 23 Jan 2026Highest close since listing, ₹146.74
Renol Polychem key facts from the filings
Each figure with the document it comes from
- FY26 revenue
- ₹89.0 cr
- Standalone, up from ₹62.3 cr in FY25; the subsidiaries added about ₹1.0 cr to the consolidated figure.Annual report FY26, p.21
- FY26 profit after tax
- ₹8.1 cr
- Standalone, up from ₹5.0 cr; consolidated ₹8.3 cr.Annual report FY26, p.21
- Preferential issue
- 34.5 lakh shares at ₹134
- Allotted in January 2026 to non-promoter investors, about ₹46.3 cr. Reported figures; our arithmetic.Annual report FY26, p.22
- Promoter warrants
- 31.6 lakh at ₹134
- Issued to promoters; 6.86 lakh were turned into shares in March 2026 and the rest convert within eighteen months of allotment.Annual report FY26, p.22 and p.23
- Harmony Ply-Lam
- 51%
- Stake bought in March 2026; it lost ₹11.2 cr on total income of ₹40.4 cr in FY26.Annual report FY26, p.32 and p.41
Show 5 more facts
- Colo Farmtech
- 99.8%
- Stake bought in February 2026; it earned ₹0.20 cr on total income of ₹40.8 cr in FY26.Annual report FY26, p.32 and p.42
- Loans to related parties
- ₹7.5 cr
- Outstanding at March 2026, all of the company's loans in the nature of loans.Annual report FY26, p.60
- Land bought
- ₹13.0 cr
- Added to fixed assets in FY26.Annual report FY26, p.68
- Cash from operations
- Minus ₹40.2 cr
- Consolidated FY26, as receivables and stock rose; standalone was minus ₹8.1 cr.Annual report FY26, p.51 and p.78
- Top ten customers
- 40.9%
- Share of revenue in the six months to September 2024.Offer document, p.31
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 its extruders at Rajkot ran at full capacity in FY26 and that it is expanding custom batch production and widening international raw material sourcing. Promoters hold warrants that convert into shares at ₹134 within eighteen months of allotment. The annual report gives no plans or figures for the two new subsidiaries.
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.
The company earns a processing margin by blending colours and additives into plastic pellets for local pipe and plastic goods makers.
Its weak spots are the cash tied up in stock and money owed, and new subsidiaries that the company has not yet explained, one of them loss making.
WatchCan it set its own prices?It sells compounds whose cost follows polymer and pigment prices, in a market with many local and international makers.
AverageHow strong is it against rivals?A single compact plant that has been running close to full, competing on local service and custom blends.
AverageWho are its customers?Many small processors, mostly in Gujarat, with no single customer dominant.
WatchDoes it need a lot of money?Yes: stock and money owed grew faster than profit, and new capital went into land, loans and subsidiaries.
AverageCan it keep finding new work?Demand from pipe makers has filled the plant; growth now depends on new machinery and on the subsidiaries.
WatchDo good and bad years swing a lot?Margins have moved a lot over the years with raw material prices, and the subsidiaries add a new source of swings.
Who runs Renol Polychem?
Promoters, directors and officers; tap a name for the background
BMBhaveshbhai Mansukhbhai HarsodaPromoter and Managing Director · holds 33.88%
Senior secondary education, with 15 years in making and supplying colour masterbatches, industrial chemicals and impact modifiers, responsible for production, operations and raw material purchasing. Managing Director from June 2024 for three years at ₹30 lakh a year. Also a director of Ramev Polyplast, Renol Foods and Vibrant Industrial Park and a partner in Ripal Polymers.
Offer document, p.183, p.184 and p.187; Annual report FY26, p.53NBNaitik Bhaveshbhai HarsodaPromoter and Director · holds 12.26%
Bachelor of Commerce from Saurashtra University; a director since January 2024, overseeing sales and marketing of the company's products. Also a director of Ramev Polyplast. The offer document states Naitik Bhaveshbhai Harsoda is the son of Bhaveshbhai Mansukhbhai Harsoda.
Offer document, p.183, p.184 and p.187; Annual report FY26, p.19AHAnjali Hukambhai JeshaniNon-Executive Director
Bachelor and Master of Commerce from Saurashtra University; earlier a senior accountant at Dreamaddz. A director since July 2024 and also a director of Krupalu Metals.
Offer document, p.183 to p.185ANAnandbhai Nalinbhai PathakIndependent Director
Bachelor of Commerce and Bachelor of Laws from Saurashtra University; associated with Ravi Education from 2014 to 2024. On the board since March 2024.
Offer document, p.184 and p.185NGNikita Gaurav TankIndependent Director
Bachelor and Master of Commerce from Saurashtra University and an MBA; worked in the finance department of Shri Chanakya Madhamik School from 2016 to 2024. On the board since June 2024.
Offer document, p.184 and p.185Renol Polychem 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 ₹48.9 cr (+46%), net profit ₹5.8 cr (+106%) on H2 FY25.
- Shareholding, 31 March 2026: promoters 48.16% to 51.10%.
- 7 Oct 2026: an order announced.
Renol Polychem announcements
13 on record, latest first; each opens the filing on the exchange
- Price movementSignificant movement in price has been observed in Renol Polychem Limited. The Exchange, in order to ensure that investors have latest relevant information abouPDF ↗
- Shareholders meetingSrutinizers report of Annual General Meeting held on September 30, 2026. Further, the company has informed the Exchange regarding voting resultsPDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 30, 2026PDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Change in AuditorsOf the companyPDF ↗
- Outcome of Board MeetingHeld on September 07, 2026PDF ↗
- Record Datethat Record date for the purpose of Meeting is 23-Sep-2026PDF ↗
- Shareholders meetingNotice of to be held on September 30, 2026PDF ↗
- Certificate under SEBI (Depositories and Participants) Regulations, 2018For the quarter ended 30-06-2026PDF ↗
- Structural Digital DatabaseSDD COMPLIANCE CERTIFICATE FOR THE QUARTER ENDED 30th JUNE, 2026PDF ↗
- Updates'Certificate of Non-Applicability of Corporate Governance provisions under Regulation 27 of SEBI Listing Obligations and Disclosure Requirements) Regulations, 2PDF ↗
- Outcome of Board Meeting, the financial results for the period ended March 31, 2026PDF ↗
Renol Polychem annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
Renol Polychem 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 Renol Polychem's data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,20,84,462 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 the full-year sales.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY24 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Renol Polychem
What does Renol Polychem do?
Renol Polychem makes coloured and additive pellets and ready-mixed additive packs that plastic pipe and plastic goods makers blend into their raw plastic, at a plant in Rajkot, Gujarat. Its shares trade on NSE Emerge.
What is the share price of Renol Polychem?
₹59 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Renol Polychem?
₹71 cr at the close on 6 Nov 2026, on 1,20,84,462 shares.
What is the P/E of Renol Polychem?
8.6 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Renol Polychem's revenue and profit?
Revenue ₹90 cr and profit after tax ₹8 cr in FY26.
Who are the promoters of Renol Polychem?
Bhaveshbhai Mansukhbhai Harsoda, Naitik Bhaveshbhai Harsoda; promoters held 51.10% at 31 March 2026.
What was the IPO price of Renol Polychem?
₹105 a share; it listed on 7 Aug 2025.
What is Renol Polychem's website?
www.renolpolychem.com
More SME companies like Renol Polychem
Other listed SME companies in chemicals & petrochemicals, the closest in size first, each read from its own documents.
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- Aureate TraddeAUREATE · BSE SME · Chemicals & PetrochemicalsMarket cap ₹63 cr
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Every listed SME company in Chemicals & Petrochemicals → · SME companies listed in 2025 →
Built from 1 offer document, 1 annual report, 13 exchange announcements, 4 shareholding patterns and 3 years of reported results. Every figure carries its source; where the documents are silent, the page says so.