Silkflex Polymers (India)Share price, financial results, shareholding and management
- Market cap
- ₹338 cr
- Stock P/E
- 27.8peers 14.3
- Book value
- ₹41
- Price to book
- 7.10
- EV / operating profit
- 18.3
- Market cap to sales
- 3.07
- ROCE · FY26
- 22.5%
- ROE · FY26
- 29.2%
- ROE, 3-year average
- 32.9%
- Operating margin · FY26
- 19.7%peers 11.8%
- Sales growth, 3 years
- 35.8%
- Profit growth, 3 years
- 129.9%
- Debt to equity
- 1.31peers 0.28
- Borrowings
- ₹62.5 cr
- Interest cover
- 5.0×
- Cash from business / op. profit
- 135%
- Debtor days
- 65
- Pledged
- 0.00%
- Promoter holding
- 70.14%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 579
- 52-week high / low
- ₹316 / ₹76
- 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.
Silkflex Polymers (India) share price chart
Close on 6 Nov 2026 · +0.12% on the day · Vol 13,500
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
- +3.4%
- 3 months
- +44.3%
- 6 months
- +45.3%
- 1 year
- +244.4%
- Since IPO
- +459.6%
- Traded a day, 20 days
- ₹0.47 cr
- Taken for delivery
- 73%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +37% | +74% |
| 3 years, a year | +36% | +130% |
| Latest half, H2 FY26 | +61% | +129% |
About Silkflex Polymers (India): business, products and customers
Silkflex Polymers (India) brings in water based printing inks for garments and water based wood finishes for furniture from its Malaysian partner, and has started making some of them itself in Gujarat. Its shares trade on NSE Emerge.
Silkflex Polymers (India), based in Howrah, holds the exclusive rights to the Malaysian brand Silkflex in India and distributes its water based textile printing inks and wood coatings through branches in garment and furniture hubs such as Tirupur, Ludhiana, Jodhpur, Ahmedabad, Vadodara and Ernakulam. The textile products carry ZDHC, OEKO-TEX and GOTS certifications that garment printers working for global brands look for, and the wood coatings are GREENGUARD certified.
Most revenue still comes from trading products made by Silkflex Polymers SDN BHD in Malaysia, which earns a resale margin and requires months of imported stock across many branches. Since November 2025 a plant at Vadodara, set up with technology from the Malaysian principal, has made the binder Silkbond 35 and a table glue in house, where the company keeps the maker's margin as well. As more products move into the plant, the share of trading falls and margins rise, while the cost of imports moves with the dollar.
Read more about the business
What is new: on 31 August 2026 the board approved taking over the business of Sylera Inc., an Indian maker of textile garment inks, and launched its own made textile inks under the Sylera brand and wood coatings under the Slyvora brand. It is also adding vessels at Vadodara for binders and inks.
From the FY25 and FY26 annual reports, the April 2026 earnings call, the May 2026 investor presentation, the March 2026 Crisil rating note and the company's August and September 2026 exchange announcements.
Read the deeper study ↓In its favour
- Sales have grown fast: 36% a year over three years.
- It earns a high return on the money it uses: ROCE 23% in FY26.
- It brings in more cash than it shows as profit: ₹29.3 cr against ₹12.2 cr in FY26.
- The promoters own a large part of the company: 70.14%.
To watch
- Full use of the Vadodara plant by the end of FY27, as the CFO expects (Earnings call, April 2026, p.5).
- Completion of the Sylera takeover by November 2026 and the cost, still to be announced (Exchange announcement, 31 August 2026, p.2).
- Start of production from the new binder and ink vessels (Exchange announcements, 8 August and 10 September 2026, p.1).
- Own made products reaching 40% to 50% of revenue (Earnings call, April 2026, p.12).
- Customers take longer to pay than before: 65 days in FY26, against 41 in FY20.
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.
Silkflex Polymers (India) 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.
Silkflex Polymers (India) half-yearly results
SME companies report every six months · ₹ crore
| H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|
| Sales | 45.01 | 37.59 | 72.61 |
| Expenses | 38.50 | 31.97 | 56.49 |
| Operating profit | 6.50 | 5.63 | 16.12 |
| OPM | 14.4% | 15.0% | 22.2% |
| Interest | 1.35 | 1.16 | 2.97 |
| Depreciation | 0.19 | 0.21 | 1.66 |
| Profit before tax | 5.04 | 4.59 | 11.73 |
| Net profit | 3.81 | 3.43 | 8.72 |
Silkflex Polymers (India) profit and loss
Full years to March, FY20 to FY26 · ₹ crore, consolidated where reported
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Sales | 21 | 21 | 28 | 44 | 50 | 80.16 | 110.20 |
| Expenses | 20 | 19 | 26 | 42 | 43 | 68.40 | 88.46 |
| Operating profit | 1 | 1 | 2 | 2 | 7 | 11.76 | 21.75 |
| OPM | 4.0% | 6.0% | 6.0% | 5.0% | 14.0% | 14.7% | 19.7% |
| Other income | 0 | 0 | 0 | 0 | 0 | 0.36 | 0.57 |
| Interest | 0 | 1 | 1 | 1 | 2 | 2.33 | 4.13 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0.38 | 1.88 |
| Exceptional and other items | -1 | 1 | · | · | · | · | · |
| Profit before tax | 0 | 1 | 1 | 1 | 5 | 9.40 | 16.32 |
| Tax rate | 26.0% | 100.0% | 0.0% | 0.0% | 20.0% | 25.5% | 25.6% |
| Net profit | 0 | 0 | 1 | 1 | 4 | 7 | 12.15 |
| EPS ₹ | 2.33 | 2.19 | 2.76 | 3.32 | 4.84 | 6.26 | 10.47 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY24 come rounded to the nearest crore in the source.
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.
A tax rate above 60% or below zero (FY21) comes from tax charged on a small or negative profit, as reported.
Silkflex Polymers (India) profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than 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
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 4.0% | 6.0% | 6.0% | 5.0% | 14.0% | 14.7% | 19.7% |
| Tax rate | 26.0% | 100.0% | 0.0% | 0.0% | 20.0% | 25.5% | 25.6% |
| ROCE | · | 20.0% | 14.3% | 10.3% | 28.6% | 23.7% | 22.5% |
| ROE | · | 0.0% | 16.7% | 13.3% | 40.0% | 29.4% | 29.2% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Silkflex Polymers (India) 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 now larger 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.
Silkflex Polymers (India) balance sheet
At each 31 March · ₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Equity capital | 2 | 2 | 2 | 2 | 8 | 11.61 | 11.61 |
| Reserves | 1 | 3 | 5 | 6 | 4 | 24.01 | 35.94 |
| Net worth | 3 | 5 | 7 | 8 | 12 | 35.61 | 47.54 |
| Borrowings | 6 | 6 | 10 | 14 | 15 | 36.27 | 62.46 |
| Other liabilities | 1 | 2 | 3 | 2 | 11 | 10.79 | 21.68 |
| Total liabilities | 10 | 13 | 20 | 24 | 38 | 82.67 | 131.68 |
| Fixed assets | 1 | 1 | 3 | 4 | 11 | 15.91 | 66.36 |
| Capital work in progress | 0 | 1 | 0 | 0 | 1 | 5 | 6 |
| Investments | 1 | 2 | 1 | 1 | 0 | 0 | 0 |
| Other assets | 8 | 9 | 16 | 19 | 26 | 61.76 | 59.32 |
| Receivables | · | · | · | · | · | 10.13 | 19.56 |
| Inventory | · | · | · | · | · | 30.13 | 29.47 |
| Cash | · | · | · | · | · | 0.09 | 2.09 |
| Trade payables | · | · | · | · | · | 6.25 | 14.63 |
Silkflex Polymers (India) cash flow
₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | 0 | 0 | -4 | -1 | 9 | -30.23 | 29.34 |
| Cash from investing | -2 | -1 | 0 | -1 | -9 | -4.88 | -49.39 |
| Cash from financing | 2 | 2 | 5 | 2 | 0 | 35.14 | 22.06 |
| Net cash flow | 0 | 1 | 1 | 0 | 0 | 0.03 | 2.01 |
| Capital spending | · | · | · | · | · | 6.97 | 57.82 |
Working capital
Days
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 41 | 49 | 29 | 17 | 42 | 46 | 65 |
| Inventory days | 90 | 125 | 216 | 153 | 164 | 185 | 136 |
| Days payable | 28 | 13 | 11 | 13 | 82 | 38 | 68 |
| Cash conversion cycle | 104 | 161 | 234 | 158 | 125 | 193 | 133 |
| Working capital days | 27 | 87 | 62 | 40 | 7 | 125 | 33 |
Silkflex Polymers (India) peers and competitors
Listed SME companies in the same industryBy sales, Silkflex Polymers (India) is number 21 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 |
|---|---|---|---|---|---|---|
| Patel Chem Specialities | 385 | 29.7 | 137 | 13 | 12.0% | 0.15 |
| Ducol Organics And Colours | 219 | 30.2 | 136 | 7.3 | 10.4% | 0.43 |
| Rajputana Biodiesel | 142 | 13.5 | 122 | 10.5 | 12.3% | 0.56 |
| Neochem Bio Solutions | 186 | 15.1 | 111 | 12.3 | 17.9% | 0.23 |
| Silkflex Polymers (India) | 338 | 27.8 | 110 | 12.2 | 19.7% | 1.31 |
| 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 | 89 | 10.7 | 90 | 8.3 | 13.1% | 0.17 |
| Shlokka Dyes | 67 | 13.5 | 81.9 | 5 | 13.9% | 0.31 |
| Median of the 10 others | 123 | 14.3 | 108 | 7.8 | 11.8% | 0.28 |
Silkflex Polymers (India) shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share. The number of shareholders is about the same.
Silkflex Polymers (India) 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.
| Dec 24 | Mar 25 | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 | |
|---|---|---|---|---|---|---|---|---|
| Promoters | 69.89% | 69.89% | 69.89% | 69.89% | 69.89% | 70.14% | 70.14% | 70.14% |
| Foreign investors (FIIs) | 0.00% | 0.00% | - | - | - | - | - | - |
| Indian institutions (DIIs) | 4.88% | 8.01% | 8.94% | 8.94% | 8.94% | 8.94% | 8.94% | 8.94% |
| HNIs (over ₹2 lakh each) | 6.34% | 4.95% | 5.38% | 5.12% | 5.81% | 6.65% | 6.63% | 5.84% |
| Small holders (up to ₹2 lakh) | 11.35% | 11.90% | 10.80% | 11.00% | 10.42% | 9.23% | 9.51% | 10.59% |
| Companies and others | 7.54% | 5.25% | 4.99% | 5.05% | 4.94% | 5.04% | 4.78% | 4.49% |
| Number of shareholders | 472 | 484 | 413 | 407 | 390 | 340 | 443 | 579 |
The named holders are at 30 Sept 2026, beside 30 June 2026, each under the group the pattern files them in.
Silkflex Polymers (India) study: the business from its own documents
Read from 10 of the company's own documentsSilkflex Polymers (India) so far
From the company's own record
- 15 May 2024Listed on NSE Emerge at ₹52
- 30 Sept 2026Promoters at 70.14%
- 5 Oct 2026Highest close since listing, ₹300.15
Silkflex Polymers (India) key facts from the filings
Each figure with the document it comes from
- Made in house
- 24.1%
- Share of FY26 revenue from the Vadodara plant in its first year; trading gave the other 75.9%.Earnings call, April 2026, p.5
- Textile inks
- ₹104.1 cr
- FY26 revenue from textile inks, up 35.7% and 94.5% of the total.Earnings call, April 2026, p.5
- Wood coatings
- ₹6.1 cr
- FY26 revenue from wood coatings, up 85.1% from ₹3.3 cr, helped by a new branch at Kochi.Earnings call, April 2026, p.5 and p.7
- Plant capacity
- About 500 tonnes a month
- Installed at Vadodara, about 60% used in the first year, with only about a fifth of the site built on.Earnings call, April 2026, p.3, p.4, p.8 and p.10
- Margin by line
- 30% vs 14%
- EBITDA margin in the fourth quarter of FY26 on own made products against textile trading; wood trading earned 18%.Earnings call, April 2026, p.11
Show 5 more facts
- Product range
- 128 inks, 70 coatings
- Textile printing inks and wood coating products in the portfolio.Annual report FY26, p.25
- Sylera takeover
- About 450 tonnes a year
- Premium inks the Sylera business supplies in India; its FY26 turnover was ₹8.3 cr and the takeover is due by November 2026.Exchange announcement, 31 August 2026, p.2
- Main supplier
- One
- Most purchases come from Silkflex Polymers SDN BHD in Malaysia, which the rating agency flags as a concentration risk.Crisil rating note, March 2026, p.3
- Stock held
- 162 days
- Inventory at March 2025, which the rating agency describes as a deliberate four to five month buffer.Crisil rating note, March 2026, p.3
- Credit rating
- Crisil BBB- / Stable
- Assigned in March 2026 on ₹50 cr of bank facilities; bank limits were 91% used on average.Crisil rating note, March 2026, p.1 and p.3
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
On the April 2026 call, the company said it expects the Vadodara plant to run at full capacity by the end of FY27, own made products to reach 40% to 50% of revenue, overall revenue to grow at a rate similar to FY26, and the company wide EBITDA margin to rise by two to three points as the plant fills. It said it would fund vessel additions of a few crore from its own cash and aims to cut debt from internal accruals.
| What management said | When | What happened |
|---|---|---|
| Manufacturing margin near about 50% as production grows | Feb 2026 call | 30% in Q4 FY26, which the CFO called almost stable |
| New products within three to four months | April 2026 call | Sylera inks and Slyvora coatings launched 31 August 2026 |
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.
Silkflex Polymers (India) earns most of its money reselling certified Malaysian inks and coatings to garment printers and furniture makers, and is now making a growing part of them itself at a higher margin.
Its weak spots are its reliance on one overseas supplier, the large stock it must carry, and bank lines that are already heavily used.
AverageCan it set its own prices?It has passed recent raw material increases on to customers because rivals raised prices too, but import costs move with the dollar.
AverageHow strong is it against rivals?Exclusive rights to a certified brand help it with printers serving global brands, but the products are not unique and customers can switch.
StrongWho are its customers?It supplies many textile printers and furniture makers through branches across India, with no single customer named as large.
WatchDoes it need a lot of money?It carries months of imported stock and built a new plant on borrowings, so bank lines are stretched.
StrongCan it keep finding new work?Garment printers are adding capacity as brands shift sourcing to India, and the company keeps adding branches, products and in house lines.
AverageDo good and bad years swing a lot?Inks are used up and reordered steadily, but demand follows the garment export cycle and raw material prices have been volatile.
Who runs Silkflex Polymers (India)?
Promoters, directors and officers; tap a name for the background
TLTushar Lalit Kumar SanghaviPromoter, Chairman and Managing Director · holds 57.68%
A science graduate from M. G. Science Institute, Ahmedabad (1986), who has traded textile printing ink through the proprietorship Judex Techno since 2005. Founded the company in 2016 together with the late Lalit Kumar Hargovindas Sanghavi, and leads strategy and expansion.
Annual report FY25, p.10; Presentation, May 2026, p.11 and p.13URUrmi Raj MehtaPromoter, Whole Time Director and Chief Financial Officer
Holds a B.Com from St. Xavier's College, University of Calcutta (2017) and has been with the company since December 2020; oversees accounts, finance and administration.
Annual report FY25, p.10; Annual report FY26, p.5 and p.19ABAtanu BhuniyaNon Executive Director
A science graduate from the University of Calcutta with over 17 years in the textile printing ink industry, including about 10 years as marketing head at Judex Techno; handles the company's marketing.
Annual report FY25, p.11HDHardikkumar Dasharathbhai PatelIndependent Director
Holds an MBA in finance from Gujarat Technological University and has worked with Randstad India, IKYA Human Capital Solutions and CARE Ratings; chairs the audit committee.
Annual report FY25, p.11; Annual report FY26, p.6KKKrishan Kumar JaisansariyaIndependent Director
A chartered accountant with expertise in finance and taxation, appointed in March 2026; chairs the nomination and remuneration committee.
Annual report FY26, p.5, p.6 and p.23Silkflex Polymers (India) 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 ₹72.6 cr (+61%), net profit ₹8.7 cr (+129%) on H2 FY25.
- Shareholding, 30 Sept 2026: promoters unchanged at 70.14%.
Silkflex Polymers (India) announcements
103 on record, latest first; each opens the filing on the exchange
- Quarterly Compliance Report on Corporate governance - within 21 days from the enNon-Applicability of Corporate Governance Report for the quarter ended September 30, 2026PDF ↗
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Submission of Certificate under regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended September 30, 2026PDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Analysts/Institutional Investor Meet/Con. Call UpdatesSchedule of meetPDF ↗
- Shareholders meetingVoting Results in respect of the First Extraordinary General Meeting of FY 2026-27 of the Company along with the Scrutinizer's ReportPDF ↗
- Shareholders meetingProceedings of First Extraordinary General Meeting held on September 22, 2026 at 12:00 P.M. IST, through video conferencing and other audio-visual means via ZOOPDF ↗
- AppointmentOf M/s. ABD & Co., Cost Accountants (FRN: 005090), as an Cost Auditor of theCompany, for conducting the Cost Audit of the company for the financial year 2026-20PDF ↗
- Outcome of Board MeetingHeld on September 18, 2026PDF ↗
- Shareholders meetingVoting Results in respect of the 10th Annual General Meeting of the Company along with the Scrutinizer's ReportPDF ↗
- General UpdatesAppointment of Mr. Krishan Kumar Jaisansariya (DIN: 11391586) as an Independent Director of the company for a first term of five consecutive yearsPDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 12, 2026 at 03:30 P.M. IST, through video conferencing and other audio-visual means via ZOOM PlatformPDF ↗
- Shareholders meetingCorrigendum-cum-Addendum to the Notice of Extra-Ordinary General Meeting to be held on September 22, 2026, at 12:00 PM ISTPDF ↗
Silkflex Polymers (India) annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- 31 March 2026 ↗read
- Credit ratings ↗read
Silkflex Polymers (India) 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 Silkflex Polymers (India)'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 (1,16,07,000 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 the full-year sales.
- !Earnings per share changes basis between FY23 (₹3.32) and FY24 (₹4.84) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY20 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Silkflex Polymers (India)
What does Silkflex Polymers (India) do?
Silkflex Polymers (India) brings in water based printing inks for garments and water based wood finishes for furniture from its Malaysian partner, and has started making some of them itself in Gujarat. Its shares trade on NSE Emerge.
What is the share price of Silkflex Polymers (India)?
₹291 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Silkflex Polymers (India)?
₹338 cr at the close on 6 Nov 2026, on 1,16,07,000 shares.
What is the P/E of Silkflex Polymers (India)?
27.8 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Silkflex Polymers (India)'s revenue and profit?
Revenue ₹110 cr and profit after tax ₹12 cr in FY26.
Who are the promoters of Silkflex Polymers (India)?
Tushar Lalit Kumar Sanghavi, Urmi Raj Mehta; promoters held 70.14% at 30 Sept 2026.
What was the IPO price of Silkflex Polymers (India)?
₹52 a share; it listed on 15 May 2024.
What is Silkflex Polymers (India)'s website?
www.silkflexindia.in
More SME companies like Silkflex Polymers (India)
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Built from 3 earnings call transcripts, 3 investor presentations, 2 annual reports, 2 credit rating notes, 103 exchange announcements, 8 shareholding patterns and 7 years of reported results. Every figure carries its source; where the documents are silent, the page says so.