Nahar Poly Films Limited (NAHARPOLY)

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Nahar Poly Films Limited (NAHARPOLY) · mywealthgrid

About

Nahar Poly Films Limited manufactures and sells packaging products within the Industrials sector. Market capitalization of ₹598.52 crore, with quarterly standalone revenue of ₹159–172 crore. The company has delivered consistent dividends to shareholders; however, the stock has declined 21% over the past 12 months.

Face value: ₹5

Market cap

₹555 Cr

P/E

7.7×

P/B

0.7×

Dividend yield

0.7%

ROE

9.5%

ROCE

10.7%

Debt / equity

0.09

OPM

15.2%

EPS (TTM)

₹28.7

Book value

₹344.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margin volatility: OPM ranged from 9.48% to 18.61% across recent quarters despite stable revenue (₹159–172 crore). Identify the drivers—whether tied to raw material costs, production mix, or pricing dynamics.
Earnings volatility relative to revenue: Net profit swung from ₹6.23 crore to ₹20.78 crore while revenue remained in a narrow band. Verify the sustainability of earnings and operational leverage exposure.
Low capital returns: ROE of 9.45% is modest even with minimal leverage (D/E 0.09). Assess whether this reflects competitive constraints or deployment inefficiency.
Packaging sector headwinds: Packaging companies typically face raw material cost inflation and competitive pricing pressure. Verify Nahar's exposure and ability to pass costs to customers.

Generated analysis · source review pending

Growth drivers

Valuation discount: PE of 8.28 reflects a low multiple. Compare against packaging-sector peers to assess whether current price offers margin of safety and what earnings recovery would be needed.
Revenue stability amid market decline: Quarterly revenue held at ₹159–172 crore despite the stock falling 21% over 12 months. Verify the durability of this demand base.
Balance-sheet capacity: Low debt (D/E 0.09) and dividend history indicate cash generation. This flexibility could enable growth investments or capital returns.
Margin recovery path: Operating margins ranged 12–18% in prior quarters versus 9.48% in the most recent. Recovery to historical levels would drive earnings expansion.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹225.6-2%1Y

Quick read

rule-based

Pros

+Revenue CAGR of 18.3% over the last 5 years
+Almost debt-free (debt/equity 0.1)
+Comfortable interest coverage of 12.5×
+High promoter holding of 72.5% with no pledge

Cons

−Low return on equity of 5.4% (3-yr avg)
−Low dividend payout of 5.1% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

56/100

Business quality: 50
Growth: 19
Valuation

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

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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 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	260	266	277	303	489	723	600	666	704
COGS	192	209	190	190	302	529	458	468	468
Gross profit	68	57	87	114	187	194	141	198	236
	47	43	39	37	56	101	105	110	117
	20	14	48	77	131	94	36	88	119
OPM %	7.9%	5.1%	17.1%	25.4%	26.9%	13%	6.1%	13.2%	16.9%
Depreciation	14	2	2	2	6	32	32	33	32
Interest	3	1	0	0	3	12	12	10	8
	3	1	4	5	4	5	11	18	24
Profit before tax	—	—	49	80	126	54	3	63	102
Tax	-2	-4	12	17	29	11	-3	16	23
Tax %	—	—	23.8%	21.4%	22.7%	20.3%	-109.6%	25.2%	22.9%
	4	8	37	63	98	43	6	47	79
PAT margin %	1.6%	3.1%	13.5%	20.6%	20%	6%	1%	7.1%	11.2%
EPS (₹)	4.7	5	15.2	25.5	39.7	17.6	2.3	19.3	32.1
EPS adjusted (₹)	1.6	3.2	2,330	24.9	38.8	17.2	2.3	18.8	31.3
	10.7%	10.1%	6.6%	5.9%	6.3%	8.5%	43.3%	5.2%	4.7%
Annual report	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	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	—

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	13	13	13	0	13	13	13	13	13	13
Reserves	330	444	378	0	513	900	767	786	789	854
	28	14	1	3	58	173	163	126	96	79
	31	16	77	401	69	58	36	34	51	54
Total equity & liabilities	401	487	468	404	653	1,144	979	959	948	1,000
	67	32	31	29	28	293	269	237	210	180
CWIP	—	—	—	—	172	—	0	0	—	22
Investments	80	387	387	279	366	722	568	623	588	611
	254	67	50	96	87	129	142	98	150	186
Total assets	401	487	468	404	653	1,144	979	959	948	1,000

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	21.3%	31.4%	37.5%	38.3%	26.9%	23.6%	29.8%	33.5%
EBITDA margin %	5.1%	15.2%	21.6%	24.4%	11.3%	3.6%	11.4%	15.2%
EBIT margin %	4.3%	14.4%	21%	23.1%	6.8%	-1.9%	6.6%	10.6%
PAT margin %	3.1%	13.5%	20.6%	20%	6%	1%	7.1%	11.2%
Working capital
Receivable days	29	12	14	21	13	15	17	12
Inventory days	30	37	40	75	34	35	39	55
Payable days	—	—	—	—	8	9	9	11
NWC days	—	—	—	—	40	42	47	56
Leverage
Current ratio	4.3	5.52	0.99	2.45	2.17	2.3	3.19	2.04
Debt to EBITDA	0.05	0.07	0.89	1.45	2	5.9	1.25	0.74
Debt to equity	0	19	0.11	0.19	0.21	0.16	0.12	0.09
Interest coverage	13.8	156.5	201.6	39.9	4.4	-0	6	12.5
Asset turnover	0.57	0.69	0.46	0.43	0.74	0.63	0.7	0.7
Return ratios
Return on assets %	1.7%	9.2%	9.6%	8.5%	4.4%	0.6%	5%	7.9%
Return on capital employed %	2.8%	10.3%	14.3%	14.1%	5.4%	-0%	6.8%	10.7%
Return on equity %	2.1%	23,300%	11.9%	10.7%	5.5%	0.7%	5.9%	9.1%

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
	71.05%	71.08%	71.48%	71.88%	71.88%	71.88%	72.13%	72.24%	72.28%	72.28%	72.5%	72.51%
	0.06%	0.07%	0.06%	0.11%	0.03%	0.05%	0.03%	0.1%	0.1%	0.03%	0.03%	0.03%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.27%	0.01%	0.01%	0.01%	0.01%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	28.88%	28.84%	28.45%	28%	28.08%	28.06%	27.83%	27.39%	27.61%	27.68%	27.46%	27.45%
No. of shareholders	—	—	—	—	—	—	—	—	20,404	19,743	19,351	19,210

Promoter holding up 1.46 percentage points since Sep 2023.

3 deals · 7 Feb 2024 – 2 Jul 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
2 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,83,977	₹305.24	₹5.62 Cr
2 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,83,977	₹305.06	₹5.61 Cr
7 Feb 2024	AJAY SHIV NARAYAN UPADHYAYA	Bulk	NSE	Sell	1,35,000	₹222.39	₹3.00 Cr

1–3 of 3

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. Jawahar Lal OswalNon-Executive - Non Independent Director-Chairperson related to Promoter
Rakesh Kumar JainChief Financial Officer
Mr. Dinesh OswalNon-Executive - Non Independent Director
Mr. Kamal OswalNon-Executive - Non Independent Director
Mr. Dinesh GognaNon-Executive - Non Independent Director
Mr. Sambhav OswalExecutive Director-CEO-MD
Mr. Satish Kumar SharmaExecutive Director
Mr. Anchal Kumar JainNon-Executive - Independent Director
Mrs. Manisha GuptaNon-Executive - Independent Director
Mr. Roshan Lal BehlNon-Executive - Independent Director
Mr. Rajan DhirNon-Executive - Independent Director

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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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 Nahar Poly Films Limited. 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

Annual reports

Credit ratings

Please find attached intimation of Credit Rating reaffirmed by Care Ratings.8 Apr 2026 from CARE

Documents link to external sources (exchange filings, company investor pages).

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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

67 announcementsExport CSV

3 Sept 2026, 5:30 pmCompany Update

Demat Report For The Month Of August, 2026

General PDF

2 Sept 2026, 5:26 pmCompany Update

Intimation Under Regulation 36(1)(B) Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

General PDF

2 Sept 2026, 3:44 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

29 Aug 2026, 12:19 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

29 Aug 2026, 12:10 pmOthers

Business Responsibility and Sustainability Reporting (BRSR)

Business Responsibility and Sustainability Reporting (BRSR) PDF

29 Aug 2026, 12:06 pmAGM/EGM

Notice Of Annual General Meeting Scheduled To Be Held On Friday, September 25, 2026 At 11:30 AM

AGM PDF

10 Aug 2026, 3:21 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

3 Aug 2026, 5:38 pmCompany Update

Demat Report For The Month Of July, 2026

General PDF

Date	Category	Subject	Filing
3 Sept 2026, 5:30 pm	Company Update General	Demat Report For The Month Of August, 2026	PDF
2 Sept 2026, 5:26 pm	Company Update General	Intimation Under Regulation 36(1)(B) Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	21.3%	31.4%	37.5%	38.3%	26.9%	23.6%	29.8%	33.5%
EBITDA margin %	5.1%	15.2%	21.6%	24.4%	11.3%	3.6%	11.4%	15.2%
EBIT margin %	4.3%	14.4%	21%	23.1%	6.8%	-1.9%	6.6%	10.6%
PAT margin %	3.1%	13.5%	20.6%	20%	6%	1%	7.1%	11.2%
Working capital
Receivable days	29	12	14	21	13	15	17	12
Inventory days	30	37	40	75	34	35	39	55
Payable days	—	—	—	—	8	9	9	11
NWC days	—	—	—	—	40	42	47	56
Leverage
Current ratio	4.3	5.52	0.99	2.45	2.17	2.3	3.19	2.04
Debt to EBITDA	0.05	0.07	0.89	1.45	2	5.9	1.25	0.74
Debt to equity	0	19	0.11	0.19	0.21	0.16	0.12	0.09
Interest coverage	13.8	156.5	201.6	39.9	4.4	-0	6	12.5
Asset turnover	0.57	0.69	0.46	0.43	0.74	0.63	0.7	0.7
Return ratios
Return on assets %	1.7%	9.2%	9.6%	8.5%	4.4%	0.6%	5%	7.9%
Return on capital employed %	2.8%	10.3%	14.3%	14.1%	5.4%	-0%	6.8%	10.7%
Return on equity %	2.1%	23,300%	11.9%	10.7%	5.5%	0.7%	5.9%	9.1%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Epl LimitedEPLEPL	₹7,443 Cr	₹8,152 Cr	₹5,043 Cr	₹1,000 Cr	20.3%	₹388 Cr	8.3%	19.5%	14.9%	97
Agi Greenpac LimitedAGIAGI	₹5,116 Cr	₹5,355 Cr	₹2,763 Cr	₹628 Cr	22.3%	₹362 Cr	13.2%	18.6%	15.6%	188
Uflex LimitedUFLEXUFLEX	₹4,692 Cr	₹14,545 Cr	₹16,866 Cr	₹2,302 Cr	12.2%	₹682 Cr	2.1%	8.6%	4.1%	89
Tcpl Packaging LimitedTCPLPACKTCPLPACK	₹3,574 Cr	₹4,148 Cr	₹1,872 Cr	₹299 Cr	16.2%	₹115 Cr	5.4%	22.4%	14.4%	98
Polyplex Corporation LimitedPOLYPLEXPOLYPLEX	₹3,228 Cr	₹4,145 Cr	₹7,601 Cr	₹592 Cr	4.9%	₹155 Cr	0.6%	1.1%	1.1%	147
Jindal Poly Films LimitedJINDALPOLYJINDALPOLY	₹2,863 Cr	₹6,866 Cr	₹2,152 Cr	₹-613 Cr	-20.2%	₹-989 Cr	-36.6%	-2%	-29.6%	81
Xpro India LimitedXPROINDIAXPROINDIA	₹2,670 Cr	₹2,959 Cr	₹535 Cr	₹50 Cr	6.3%	₹33 Cr	3.9%	3.9%	2.8%	80
Knack Packaging LimitedKNACKKNACK	₹2,211 Cr	₹2,404 Cr	₹736 Cr	₹133 Cr	18.1%	₹74 Cr	10%	47.1%	41.5%	—
Mold-Tek Packaging LimitedMOLDTKPACMOLDTKPAC	₹2,187 Cr	₹2,231 Cr	₹631 Cr	₹121 Cr	19.1%	₹64 Cr	10.1%	24.3%	17.9%	148
Cosmo First LimitedCOSMOFIRSTCOSMOFIRST	₹2,166 Cr	₹3,752 Cr	₹4,004 Cr	₹428 Cr	10.5%	₹167 Cr	4.3%	11.6%	10.1%	10
Huhtamaki India LimitedHUHTAMAKIHUHTAMAKI	₹1,757 Cr	₹1,859 Cr	₹2,610 Cr	₹225 Cr	7.7%	₹136 Cr	4.8%	12.3%	9.5%	26
Arrow Greentech LimitedARROWGREENARROWGREEN	₹1,306 Cr	₹1,306 Cr	₹247 Cr	₹86 Cr	32.2%	₹64 Cr	23.6%	30.4%	22.4%	141

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	94	-24	110	17	57	50
	-136	-92	-37	-11	-3	-25
	42	115	-41	-38	-41	-38
Net cash flow	1	-0	32	-33	13	-13
Free cash flow	-58	-125	102	17	51	26
CFO / Operating profit %	143.6%	-19.9%	134.4%	78.3%	74.4%	46.9%

Nahar Poly Films Limited

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

Annual reports

Credit ratings

Events

Announcements

No fund holdings on record

17

1

Not in the F&O segment

Compounded sales growth

Compounded profit growth

Return on equity

Announcements

Annual reports

Credit ratings

Nahar Poly Films Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

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

Annual reports

Credit ratings

Events

Announcements

Ratio timeline

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Dividends17

Board meetings1

Not in the F&O segment

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Announcements

Annual reports

Credit ratings

17

1