Ecoplast Ltd (ECOPLAST) · mywealthgrid

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About

Ecoplast Ltd manufactures industrial plastic products with annualized revenue of roughly ₹100 Cr and a ₹214.25 Cr market cap. Promoters hold 74.45% of shares as of June 2026 with zero institutional investor participation, while the company operates profitably at 9.68% OPM and carries no debt.

Face value: ₹10

Market cap

₹226 Cr

P/E

18.8×

P/B

1.9×

Dividend yield

0.6%

ROE

12.4%

ROCE

16.7%

Debt / equity

0.01

OPM

8.4%

EPS (TTM)

₹25.0

Book value

₹249.3

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Revenue collapsed 67% in Jun 2020 (₹7.98 Cr vs. ₹24.28 Cr a year prior) and remains depressed; Q4 FY2021 revenue of ₹26.57 Cr is below the consistent ₹24–26 Cr quarterly level from 2019–early 2020.
Operating margins are highly volatile, ranging from -1.88% (Jun 2020) to 11.32% (Mar 2020), with two loss-making quarters (Dec 2019 at 2.98% OPM, Jun 2020 at -1.88%); current 9.68% OPM is not a reliable baseline.
Stock declined 18.19% over one year while trading at PE 25.32; verify whether valuation is justified by earnings stability or leaves room for multiple contraction if profitability reverts to loss-making levels.
Promoter shareholding increased from 64.84% to 74.45% in three months (Mar–Jun 2026) while institutional ownership remains 0%; verify the driver of this shift and implications for governance transparency.

Generated analysis · source review pending

Growth drivers

Recovery from ₹7.98 Cr (Jun 2020) to ₹26.57 Cr (Mar 2021) demonstrates output-restoration capacity; verify whether customer order books and sector demand sustain ₹25+ Cr quarterly revenue.
Zero debt (D/E = 0) provides financial flexibility for reinvestment or capacity expansion; confirm management's capital deployment plans.
Operating margin of 9.68% leaves room for expansion if revenue stabilises; monitor whether recent quarters trend toward sustained margins or continued volatility.

Generated analysis · source review pending

2,036 historical price candles were omitted because the exchange source has not been verified.

₹470.1-1.4%1Y

Quick read

rule-based

Pros

+High return on capital employed of 22.6%
+Profit CAGR of 126.8% over the last 5 years
+Revenue CAGR of 23.9% over the last 5 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 28.1×
+High promoter holding of 74.5% with no pledge

Cons

−Low dividend payout of 12% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

77/100

Business quality: 56
Growth: 100

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Supreme Industries LimitedSUPREMEINDSUPREMEIND	₹42,926 Cr	₹42,926 Cr	₹11,326 Cr	₹1,632 Cr	13.9%	₹1,032 Cr	8.5%	19.1%	16.1%	44
Garware Hi-Tech Films LimitedGRWRHITECHGRWRHITECH	₹16,067 Cr	₹16,067 Cr	₹2,258 Cr	₹497 Cr	20.5%	₹388 Cr	16%	17.6%	13.5%	89
Finolex Industries LimitedFINPIPEFINPIPE	₹9,338 Cr	₹9,775 Cr	₹3,954 Cr	₹692 Cr	16.5%	₹615 Cr	14.6%	12.2%	9.7%	133
Kingfa Science & Technology (India) LimitedKINGFAKINGFA	₹8,958 Cr	₹8,958 Cr	₹2,222 Cr	₹314 Cr	13.1%	₹226 Cr	9.3%	23.6%	17.4%	100
Time Technoplast LimitedTIMETECHNOTIMETECHNO	₹8,869 Cr	₹9,508 Cr	₹6,445 Cr	₹922 Cr	14.6%	₹490 Cr	7.8%	18.2%	13.4%	161
Prince Pipes And Fittings LimitedPRINCEPIPEPRINCEPIPE	₹2,731 Cr	₹2,871 Cr	₹2,627 Cr	₹270 Cr	8.9%	₹102 Cr	2.8%	6.4%	4.5%	71
Apollo Pipes LimitedAPOLLOPIPEAPOLLOPIPE	₹2,255 Cr	₹2,379 Cr	₹1,125 Cr	₹49 Cr	6%	₹-15 Cr	0.4%	2.1%	0.6%	58
Jain Irrigation Systems LimitedJISLJALEQSJISLJALEQS	₹1,951 Cr	₹6,013 Cr	₹6,362 Cr	₹765 Cr	12.5%	₹-53 Cr	-0.6%	7.3%	-0.4%	230
Jai Corp LimitedJAICORPLTDJAICORPLTD	₹1,571 Cr	₹1,571 Cr	₹541 Cr	₹70 Cr	10.6%	₹93 Cr	32.9%	13.1%	11.7%	269
Premier Polyfilm LimitedPREMIERPOLPREMIERPOL	₹949 Cr	₹949 Cr	₹365 Cr	₹50 Cr	13.6%	₹35 Cr	9.4%	31.2%	24.1%	102
R M Drip And Sprinklers Systems LimitedRMDRIPRMDRIP	₹587 Cr	₹640 Cr	₹207 Cr	₹53 Cr	26.6%	₹35 Cr	17.7%	33.6%	31.5%	268
Prakash Pipes LimitedPPLPPL	₹582 Cr	₹621 Cr	₹780 Cr	₹118 Cr	15.1%	₹83 Cr	10.7%	28.6%	20.5%	—

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	76	94	96	113	127	221
COGS	53	70	68	71	83	138
Gross profit	23	24	29	42	44	83
	19	24	23	29	32	65
	3	0	6	13	12	18
OPM %	4.4%	0.3%	5.9%	11.4%	9.7%	8.4%
Depreciation	3	3	2	2	3	6
Interest	1	1	1	0	0	1
	1	1	4	2	3	4
Profit before tax	0	-3	6	12	11	16
Tax	0	-1	2	3	3	4
Tax %	31%	-31.6%	28.2%	24.4%	26.3%	24.9%
	0	-2	4	9	8	12
PAT margin %	0.3%	-1.9%	4.6%	8.1%	6.7%	5.4%
EPS (₹)	0.7	-5.8	14.8	30.6	27.8	25.3
EPS adjusted (₹)	0.7	-5.8	14.8	30.6	24.5	34.8
	0%	—	10.1%	9.8%	0%	—
Annual report	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	3	3	3	3	3	3
Reserves	29	27	30	39	71	116
Minority interest	—	—	—	—	—	0
	8	14	1	0	0	1
	12	11	10	12	13	22
Total equity & liabilities	51	55	44	55	87	143
	17	16	15	16	25	45
CWIP	1	0	0	0	1	6
Investments	0	0	0	0	18	3
	34	39	29	38	44	89
Total assets	51	55	44	55	87	143

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	9	-2	15	13	5	-2
	-1	-2	1	-3	-28	-6
	-7	4	-14	-2	23	-0
Net cash flow	0	1	2	7	-0	-8
Free cash flow	7	-4	13	9	-7	-24
CFO / Operating profit %	258.4%	-753.1%	263.1%	97.9%	41.1%	-11.3%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	29.9%	25.7%	29.7%	37.1%	34.8%	37.6%
EBITDA margin %	4.4%	0.3%	5.9%	11.4%	9.7%	8.4%
EBIT margin %	0.8%	-2.5%	3.3%	9.3%	7.3%	5.8%
PAT margin %	0.3%	-1.9%	4.6%	8.1%	6.7%	5.4%
Working capital
Receivable days	97	78	45	34	46	52
Inventory days	70	68	56	64	65	65
Payable days	58	39	34	44	42	40
NWC days	109	106	67	54	69	77
Leverage
Current ratio	2.36	1.68	2.96	3.38	5.43	3.56
Debt to EBITDA	2.42	42.44	0.19	0.02	0	0.06
Debt to equity	0.25	0.46	0.03	0.01	0	0.01
Interest coverage	1.3	-1.4	7.9	36.7	29.7	28.1
Asset turnover	1.47	1.73	2.19	2.08	1.45	1.54
Return ratios
Return on assets %	0.4%	-3.2%	10.1%	16.8%	9.7%	8.4%
Return on capital employed %	3.8%	-4.3%	20.8%	31.6%	19.7%	16.7%
Return on equity %	0.6%	-5.9%	13.4%	21.9%	11.4%	10%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	68.7%	68.7%	68.7%	68.7%	68.7%	72.24%	64.84%	64.84%	64.84%	64.84%	64.84%	74.45%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	31.3%	31.3%	31.3%	31.3%	31.3%	27.76%	35.16%	35.16%	35.16%	35.16%	35.16%	25.55%
No. of shareholders	—	—	—	—	—	—	—	—	3,687	3,556	3,557	3,393

Promoter holding up 5.75 percentage points since Sep 2023.

5 deals · 4 Mar 2022 – 7 Nov 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
7 Nov 2024	KUNAL PLASTICS PRIVATE LIMITED	Bulk	BSE	Sell	36,440	₹520.00	₹1.89 Cr
22 Aug 2024	COUNTER CYCLICAL INVESTMENTS PRIVATE LIMITED	Bulk	BSE	Buy	21,381	₹549.73	₹1.18 Cr
12 Sept 2022	ALKA JAIN	Bulk	BSE	Sell	16,891	₹91.95	₹0.16 Cr
9 Mar 2022	ALKA JAIN	Bulk	BSE	Buy	15,357	₹97.06	₹0.15 Cr
4 Mar 2022	ASHOK JAIN	Bulk	BSE	Buy	15,856	₹92.02	₹0.15 Cr

1–5 of 5

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. BIKASH RANJAN TARAFDARNon-Executive - Independent Director-Chairperson
Mr. JAYMIN BALWANTRAI DESAIExecutive Director-MD
Mrs. CHARULATA NITIN PATELNon-Executive - Non Independent Director
Mr. ATUL BAIJALExecutive Director
Mr. ADITYA NITINKUMAR PATELExecutive Director
Mr. RAVI AMULBHAI MEHTAExecutive Director
Mr. MONIL VIJAY SHAHNon-Executive - Independent Director
Mr. JAY KETAN SHROFFExecutive Director
Ms. PRIYAL SAURABH VORANon-Executive - Independent Director
Mr. JAYESH JASHVANTLAL SHAHNon-Executive - Independent Director
Mr. Setu Rushi ParikhChief Financial Officer

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F&O

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Not in the F&O segment

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Ecoplast Ltd. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

11 announcementsExport CSV

7 Aug 2026, 12:28 pmAGM/EGM

Notice Of The 44Th Annual General Meeting

AGM PDF

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Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	29.9%	25.7%	29.7%	37.1%	34.8%	37.6%
EBITDA margin %	4.4%	0.3%	5.9%	11.4%	9.7%	8.4%
EBIT margin %	0.8%	-2.5%	3.3%	9.3%	7.3%	5.8%
PAT margin %	0.3%	-1.9%	4.6%	8.1%	6.7%	5.4%
Working capital
Receivable days	97	78	45	34	46	52
Inventory days	70	68	56	64	65	65
Payable days	58	39	34	44	42	40
NWC days	109	106	67	54	69	77
Leverage
Current ratio	2.36	1.68	2.96	3.38	5.43	3.56
Debt to EBITDA	2.42	42.44	0.19	0.02	0	0.06
Debt to equity	0.25	0.46	0.03	0.01	0	0.01
Interest coverage	1.3	-1.4	7.9	36.7	29.7	28.1
Asset turnover	1.47	1.73	2.19	2.08	1.45	1.54
Return ratios
Return on assets %	0.4%	-3.2%	10.1%	16.8%	9.7%	8.4%
Return on capital employed %	3.8%	-4.3%	20.8%	31.6%	19.7%	16.7%
Return on equity %	0.6%	-5.9%	13.4%	21.9%	11.4%	10%

Date	Category	Subject	Filing
7 Aug 2026, 12:28 pm	AGM/EGM AGM	Notice Of The 44Th Annual General Meeting	PDF
25 Jul 2026, 3:02 pm	Board Meeting	Board Meeting Intimation for Notice Of Board Meeting	PDF
3 Jul 2026, 3:13 pm	Company Update Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	PDF

Ecoplast Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

13

1

Compounded sales growth

Compounded profit growth

Return on equity

Ecoplast Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Dividends13

Board meetings1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

13

1