Swashthik PlasconShare price, financial results, shareholding and management
- Market cap
- ₹37 cr
- Stock P/E
- 4.6peers 12.6
- Book value
- ₹47.8
- Price to book
- 0.40
- EV / operating profit
- -
- Market cap to sales
- 0.24
- ROCE · FY26
- 10.1%
- ROE · FY26
- 9.0%
- ROE, 3-year average
- 12.0%
- Operating margin · FY26
- 16.0%peers 9.4%
- Sales growth, 3 years
- 49.4%
- Profit growth, 3 years
- 38.9%
- Debt to equity
- 0.95peers 0.41
- Borrowings
- ₹88 cr
- Interest cover
- 2.5×
- Cash from business / op. profit
- 142%
- Debtor days
- 117
- Pledged
- 0.00%
- Promoter holding
- 44.46%
- Change in promoter holding
- +0.52 pts
- Shareholders
- 1,003
- 52-week high / low
- ₹41 / ₹16
- 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.
Swashthik Plascon share price chart
Close on 6 Nov 2026 · +5.49% on the day · Vol 28,800
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
- +1.1%
- 3 months
- -12.7%
- 6 months
- -6.3%
- 1 year
- -36.0%
- Traded a day, 20 days
- ₹0.02 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +7% | +16% |
| 3 years, a year | +49% | +39% |
| Latest half, H2 FY26 | +7% | +2% |
About Swashthik Plascon: business, products and customers
Swashthik Plascon makes plastic PET bottles, jars and preforms in Puducherry for medicine, liquor, household and drinks companies. Its shares trade on BSE SME.
Swashthik began in 2006 as the partnership Swashthik Caps and became a public company in 2023. It moulds food grade PET granules into bottles for medicines, liquor, dish wash liquid, shampoo and mosquito repellent, and into preforms, the small tubes that drinks and water bottlers later blow into full bottles. It also makes caps and closures, and customised shapes for brands such as the Pril dish wash bottle it makes under an agreement with Jyothy Laboratories.
Most of the group's sales come from units outside the listed company itself: a wholly owned subsidiary, Swashthik Preforms, and partnership firms in which the company is the 99% partner, so the consolidated accounts are about three times the standalone ones. The same promoter family also owns other packaging firms that trade with the group and lease property and transport to it, and shareholders are asked each year to approve these related party limits.
Read more about the business
Bottles are sold business to business, mostly in Tamil Nadu and Puducherry, at prices that move with PET resin, the main raw material, which comes from a handful of suppliers. Because bulky bottles travel poorly, demand is regional, and the company keeps large stocks and gives credit, so working capital takes much of the cash it earns.
The money raised at the IPO and in a January 2025 preferential issue went into a new plant for pharmaceutical bottles and a captive solar power plant. The documents name no rival companies; the offer document says the industry is fragmented, with small and large makers and traders.
From the offer document (Red Herring Prospectus, November 2023), the November 2025 investor presentation and the annual reports for FY25 and FY26.
Read the deeper study ↓In its favour
- Sales have grown fast: 49% a year over three years.
- It brings in more cash than it shows as profit: ₹34 cr against ₹8 cr in FY26.
To watch
- Start of the 8 MW solar plant, expected by February 2026 and still in progress at March 2026 (Investor presentation, November 2025, p.15; Annual report FY26, p.96).
- Related party trading with Swashthik Preforms, Swashthik Industries, Swashthik Pet Packaging, Paalaghad Pet Bottle and Swashthik Poliemers under the FY27 limits put to the September 2026 meeting (Annual report FY26, p.7 to 9 and p.24 to 28).
- Results for the half year to September 2026 and whether stock and borrowings keep rising (Annual report FY26, p.113).
- It paid no dividend in the past year.
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.
Swashthik Plascon 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 more slowly than sales, so each rupee of sales left a little less profit.
Swashthik Plascon half-yearly results
SME companies report every six months · ₹ crore
| H1FY24 | H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|---|
| Sales | 66 | 60.04 | 71.54 | 72.06 | 76.31 | 77.09 |
| Expenses | 59 | 57.24 | 61.02 | 62.55 | 64.36 | 66.09 |
| Operating profit | 7 | 2.80 | 10.52 | 9.50 | 11.95 | 11 |
| OPM | 10.0% | 4.7% | 14.7% | 13.2% | 15.7% | 14.0% |
| Interest | 2 | 1.95 | 2.01 | 4.04 | 1.46 | 4 |
| Depreciation | 2 | 1.82 | 2.50 | 2.49 | 3.36 | 3 |
| Profit before tax | 7 | 4.12 | 6.08 | 3.10 | 7.29 | 3.52 |
| Net profit | 5 | 2.65 | 4.46 | 2.50 | 5.50 | 2.54 |
Swashthik Plascon profit and loss
Full years to March, FY21 to FY26 · ₹ crore, consolidated where reported
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Sales | 33.90 | 49.47 | 46 | 126.27 | 143.60 | 153.39 |
| Expenses | 32.35 | 46.91 | 40 | 116.71 | 123.58 | 129.39 |
| Operating profit | 1.55 | 2.56 | 6 | 9.56 | 20.02 | 24 |
| OPM | 4.6% | 5.2% | 13.0% | 7.6% | 13.9% | 16.0% |
| Other income | 1.44 | 0.39 | 0 | 8.59 | 0.20 | 0.51 |
| Interest | 1.66 | 1.62 | 2 | 3.73 | 6.04 | 7 |
| Depreciation | 1.13 | 1.10 | 1 | 3.44 | 4.99 | 7 |
| Profit before tax | 0.20 | 0.23 | 3 | 10.98 | 9.19 | 10.80 |
| Tax rate | 65.0% | 43.5% | 0.0% | 31.4% | 24.3% | 25.6% |
| Net profit | 0.07 | 0.13 | 3 | 7.53 | 6.96 | 8.04 |
| EPS ₹ | 0.12 | 0.22 | 2.35 | 4.29 | 3.57 | 4.13 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY23 come rounded to the nearest crore in the source.
A tax rate above 60% or below zero (FY21) comes from tax charged on a small or negative profit, as reported.
Earnings per share before FY23 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Swashthik Plascon profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than 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
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Operating margin | 4.6% | 5.2% | 13.0% | 7.6% | 13.9% | 16.0% |
| Tax rate | 65.0% | 43.5% | 0.0% | 31.4% | 24.3% | 25.6% |
| ROCE | · | 8.7% | 9.9% | 14.9% | 10.6% | 10.1% |
| ROE | · | 2.1% | 22.0% | 17.7% | 9.3% | 9.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Swashthik Plascon debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown. Its loans are smaller than its own money. Last year the business brought in more cash than it showed as profit. Customers take about as long to pay as they did in FY24.
Bars below the line are cash going out.
Swashthik Plascon balance sheet
At each 31 March · ₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Equity capital | 6 | 6 | 13 | 18 | 19 | 19 |
| Reserves | 0.19 | 0.32 | 8 | 46 | 66 | 74 |
| Net worth | 6.19 | 6.32 | 21 | 64 | 85 | 93 |
| Borrowings | 15.16 | 14.95 | 59 | 54 | 85 | 88 |
| Other liabilities | 6.85 | 6.11 | 31 | 31 | 30 | 40 |
| Total liabilities | 28.20 | 27.38 | 111 | 149 | 200 | 221 |
| Fixed assets | 8.66 | 8.08 | 27 | 42 | 49 | 51 |
| Capital work in progress | 0 | 0 | 0 | 0 | 7 | 30 |
| Investments | 0.93 | 0.93 | 1 | 1 | 1 | 1 |
| Other assets | 18.61 | 18.37 | 83 | 106 | 143 | 139 |
Swashthik Plascon cash flow
₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Cash from operations | 2.45 | 2.30 | 4 | -10 | -19 | 34 |
| Cash from investing | -1.50 | -0.53 | -3 | -18 | -19 | -32 |
| Cash from financing | -0.95 | -1.76 | -1 | 28 | 40 | -4 |
| Net cash flow | 0 | 0.01 | 0 | 0 | 2 | -2 |
Working capital
Days
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Debtor days | 104 | 66 | 298 | 122 | 117 | 117 |
| Inventory days | 110 | 73 | 436 | 215 | 246 | 297 |
| Days payable | 80 | 31 | 212 | 91 | 72 | 101 |
| Cash conversion cycle | 134 | 108 | 523 | 245 | 292 | 313 |
| Working capital days | 24 | 26 | 149 | 202 | 248 | 166 |
Swashthik Plascon peers and competitors
Listed SME companies in the same industryBy sales, Swashthik Plascon is number 60 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 |
|---|---|---|---|---|---|---|
| D.K. Enterprises Global | 52 | 9.2 | 169 | 5.7 | 5.5% | 0.62 |
| DCG Cables & Wires | 127 | 14.1 | 163 | 9 | 15.0% | 0.70 |
| Malpani Pipes And Fittings | 68 | 7.5 | 163 | 9 | 10.0% | 0.39 |
| Swashthik Plascon | 37 | 4.6 | 153 | 8 | 16.0% | 0.95 |
| AVSL Industries | 64 | 30.1 | 150 | 2.1 | 6.4% | 1.01 |
| Shree Marutinandan Tubes | 15 | 3.6 | 150 | 4 | 4.3% | 0.14 |
| Mittal Sections | 32 | 10.8 | 149 | 3 | 5.0% | 0.43 |
| RFBL Flexi Pack | 235 | 28.5 | 148 | 8.3 | 8.8% | 0.38 |
| Amic Forging | 2,378 | 84.9 | 141 | 28 | 33.0% | 0.03 |
| Sahasra Electronic Solutions | 1,176 | 97.0 | 139 | 12.1 | 13.1% | 0.28 |
| ALUWIND INFRA-TECH | 117 | 11.1 | 139 | 10.5 | 11.8% | 0.59 |
| Median of the 10 others | 93 | 12.6 | 150 | 8.6 | 9.4% | 0.41 |
Swashthik Plascon shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own less than half the company, a little more than in the first filing shown. Big foreign and Indian funds own very little. The number of shareholders has come down.
Swashthik Plascon 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 23 | Mar 24 | Sep 24 | Mar 25 | Sep 25 | Mar 26 | |
|---|---|---|---|---|---|---|
| Promoters | 43.81% | 43.81% | 43.81% | 39.53% | 43.94% | 44.46% |
| Foreign investors (FIIs) | 8.83% | 1.67% | 1.25% | 0.00% | 0.00% | - |
| Indian institutions (DIIs) | 2.82% | 0.00% | 0.00% | 0.70% | 0.85% | - |
| Number of shareholders | 1,263 | 786 | 808 | 1,015 | 1,000 | 1,003 |
Swashthik Plascon study: the business from its own documents
Read from 5 of the company's own documentsSwashthik Plascon key facts from the filings
Each figure with the document it comes from
- FY26 sales
- ₹153.4 cr
- Consolidated, up from ₹143.6 cr; the listed company on its own sold ₹50.3 cr.Annual report FY26, p.37 to 38
- FY26 profit
- ₹8.0 cr
- Consolidated profit after tax, against ₹7.0 cr in FY25.Annual report FY26, p.37 to 38
- Product mix
- 28% liquor
- Standalone FY26 sales: liquor bottles 28%, preforms 26%, pharmaceutical bottles 26%, other brand products 18%.Annual report FY26, p.53
- Capacity
- 1,300 tonnes a month
- Group capacity, with 75% of it in use; pharmaceutical bottle capacity raised from 90 to 140 tonnes a month at the new plant.Investor presentation, November 2025, p.9 and p.15
- Stock and credit
- ₹129.3 cr
- Consolidated inventories of ₹80.4 cr and receivables of ₹48.9 cr at March 2026, against FY26 sales of ₹153.4 cr.Annual report FY26, p.113; our arithmetic
Show 5 more facts
- Borrowings
- ₹87.7 cr
- Consolidated long and short term borrowings at March 2026; finance cost was ₹5.8 cr in FY26.Annual report FY26, p.112 to 113; our arithmetic
- Solar plant
- ₹15.2 cr
- Still shown as work in progress at March 2026, after the company had said it expected the plant to run by February 2026.Annual report FY26, p.96; Investor presentation, November 2025, p.15
- Preferential issue
- ₹14.5 cr
- 19,04,000 shares allotted to non-promoter investors in January 2025.Annual report FY25, p.54
- Home market
- 95%
- Share of sales in Tamil Nadu and Puducherry in the half year to September 2023.Offer document, p.142
- Top five suppliers
- 93%
- Share of purchases from the five largest suppliers in the half year to September 2023; the top ten customers took 39% of sales.Offer document, p.141 and p.145
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 November 2025 presentation the company said new pharmaceutical bottle capacity had raised output for that segment from 90 to 140 tonnes a month, and that an 8 MW solar plant for its own use was expected to run by February 2026 to cut power costs; the FY26 accounts still show the solar plant as work in progress. It also gave a proposed capacity of more than six crore PET bottles and two crore jars. For FY27 shareholders were asked to approve trading limits with five related firms.
| What management said | When | What happened |
|---|---|---|
| 8 MW solar plant running by February 2026 | November 2025 presentation | Still capital work in progress of ₹15.2 cr at March 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.
Swashthik earns its money moulding plastic bottles and preforms for brands in South India, a steady but crowded trade.
Its weak spots are borrowing and stock that keep rising with sales, a solar plant running late, and many dealings with firms owned by the promoter family.
AverageCan it set its own prices?It competes with many local makers on quality, delivery and reliability, and resin is its main cost, though its gross margin has widened lately.
AverageHow strong is it against rivals?It has scale for a regional maker and long customer ties, in an industry the company itself calls fragmented.
AverageWho are its customers?Medicine, liquor, household and drinks companies, mostly in two states, with no single buyer dominant.
WatchDoes it need a lot of money?Yes. New plants, a solar project, stock and customer credit have been funded by borrowing and two share issues.
AverageCan it keep finding new work?Repeat business from brands keeps plants busy and new pharmaceutical capacity has been added, but there is no order book.
AverageDo good and bad years swing a lot?Everyday packaging demand is steady, but resin prices and interest costs move profit, and one year included a large one-time other income.
Who runs Swashthik Plascon?
Promoters, directors and officers; tap a name for the background
MGMahendrakumar GautamManaging Director
Holds a Bachelor of Commerce and has passed CA Intermediate; had four years in PET packaging when appointed Managing Director for five years in September 2023, responsible for expansion and overall management. The offer document states Parasmal Mahendra Kumar and Mahendrakumar Nirmala are the father and mother.
Offer document, p.167 to 168; Annual report FY26, p.47PMParasmal Mahendra KumarPromoter, Chairman and Non-Executive Director
A Chartered Accountant with eleven years in PET packaging at the time of the offer document; on the board since May 2011 and Chairman since September 2023.
Offer document, p.167 and p.180; Investor presentation, November 2025, p.13PRParasmal Ravindra KumarPromoter and Non-Executive Director · holds 6.81%
A Cost and Works Accountant with fifteen years in plastic and PET packaging, on the board since May 2011; the annual report states Parasmal Mahendra Kumar is a brother.
Annual report FY26, p.31; Offer document, p.168MNMahendrakumar NirmalaPromoter and Non-Executive Director
Studied to higher secondary level with eleven years of experience, on the board since May 2011; a partner in the related firms Swashthik Industries and Swashthik Pet Packaging.
Offer document, p.168 and p.182; Annual report FY26, p.21PDParasmal Dharmendra KumarPromoter
Holds a Bachelor of Commerce with twelve years of experience; not on the board.
Offer document, p.181MPMisrimal ParasmalPromoter
Holds a Bachelor of Commerce with twelve years of experience; not on the board.
Offer document, p.181PUP UmraoPromoter
Listed as a promoter in business; not on the board. The annual report states P Umrao is the mother of Parasmal Ravindra Kumar.
Offer document, p.181 to 182; Annual report FY26, p.31RAR Asha JainPromoter
Studied to secondary level with twelve years of experience; a partner in Srinivas Packaging and Swashthik Pet Packaging.
Offer document, p.182DAD AnitaPromoter
Studied to secondary level with twelve years of experience; not on the board.
Offer document, p.182 to 183MPMohanraj PerumalIndependent Director
A Chartered Accountant, independent director since September 2023 and chair of the audit committee.
Offer document, p.168; Annual report FY26, p.38Swashthik Plascon 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 ₹77.1 cr (+7%), net profit ₹2.5 cr (+2%) on H2 FY25.
- Shareholding, 31 March 2026: promoters 43.94% to 44.46%.
Swashthik Plascon announcements
5 on record, latest first; each opens the filing on the exchange
- Company UpdateCertificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30th September, 2026PDF ↗
- Insider Trading / SASTPlease Find Attached the closure of trading windowPDF ↗
- AGM/EGMDeclaration of Voting Result along with Revised Scrutinizer Report of Annual General Meeting of the companyPDF ↗
- AGM/EGMPlease find attached Proceedings of 15th Annual General Meeting of CompanyPDF ↗
- Insider Trading / SASTThe Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Anita & PACsPDF ↗
Swashthik Plascon annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
Swashthik Plascon 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 Swashthik Plascon'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.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,94,67,995 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.
- ✓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, FY21 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Swashthik Plascon
What does Swashthik Plascon do?
Swashthik Plascon makes plastic PET bottles, jars and preforms in Puducherry for medicine, liquor, household and drinks companies. Its shares trade on BSE SME.
What is the share price of Swashthik Plascon?
₹19.2 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Swashthik Plascon?
₹37 cr at the close on 6 Nov 2026, on 1,94,67,995 shares.
What is the P/E of Swashthik Plascon?
4.6 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Swashthik Plascon's revenue and profit?
Revenue ₹153 cr and profit after tax ₹8 cr in FY26.
Who are the promoters of Swashthik Plascon?
Parasmal Mahendra Kumar, Parasmal Ravindra Kumar, Mahendrakumar Nirmala, Parasmal Dharmendra Kumar, Misrimal Parasmal, P Umrao, R Asha Jain, D Anita; promoters held 44.46% at 31 March 2026.
What is Swashthik Plascon's website?
www.swashthikplascon.com
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Built from 3 annual reports, 1 offer document, 1 investor presentation, 5 exchange announcements, 6 shareholding patterns and 6 years of reported results. Every figure carries its source; where the documents are silent, the page says so.