Mewar Polytex Ltd
Udaipur woven-sack maker delisted from BSE in 2017, now doing ₹335 Cr of sales with a ₹17 Cr pre-tax profit on just 32 lakh shares.
Market cap
₹66.22 Cr
0.32 Cr shares
P/E ratio
5.23
Sector average 22
Book value
₹198.85
P/B 1.03
1-year return
+0.00%
52w ₹205 – ₹205
Currently 0% of the way through its 52-week range.
Indicative price history
1Y change
+0.00% ₹205 → ₹205
52-week band in this window: ₹205.00 – ₹205.00. Weekly indicative marks, not exchange-traded prices.
Key highlights
- Woven sacks and fabrics from Udaipur since 1979; BSE-delisted in January 2017.
- FY25 revenue ₹335 Cr, PBT ₹17.07 Cr (FY24: ₹11.95 Cr).
- 32.3 lakh shares; ₹205 quote is about five times earnings.
About Mewar Polytex
Mewar Polytex Limited was incorporated on 9 May 1979 as a private company by B.H. Bapna, a University of California-trained engineer, to make lightweight polypropylene bags for minerals and chemicals. It became a public company in 1994, listed on BSE, and was delisted with effect from 6 January 2017.
The company manufactures coated and uncoated HDPE/PP woven fabrics, sacks, FIBCs and tarpaulins for cement, fertiliser, minerals and export markets from plants around Udaipur. The Bapna family continues to run the business with Babulal Bapna, Sandeep Bapna and Vinod Bapna on the board.
Revenue reached ₹335 Cr in FY25 and profit before tax rose to ₹17.07 Cr from ₹11.95 Cr in FY24, while financing outflows shrank to ₹7.31 Cr and cash rose to ₹1.07 Cr. With 32.3 lakh shares of ₹10, the ₹205 dealer quote implies a market value of about ₹66 Cr, roughly five times earnings.
Figures preliminary; verify from MCA filings. Financial line items on this page are compiled from dealer summaries and registry snapshots; where a year is not disclosed, minimal estimates are shown and marked preliminary.
Where the revenue comes from
- Woven sacks & fabrics70%
Cement, fertiliser, mineral packaging
- FIBC & tarpaulins30%
Bulk bags and laminated tarpaulins, partly exported
Products & services
Woven sacks
PP/HDPE bags for cement, fertiliser and minerals.
Woven fabrics
Coated and uncoated fabric rolls for packaging and tarpaulins.
FIBC & tarpaulins
Jumbo bags and laminated tarpaulins for domestic and export markets.
What works
- • Forty-five-year track record in woven packaging with an established mineral and cement customer base in Rajasthan.
- • Pre-tax profit up 43% in FY25 with net worth rising; the quote is around five times earnings.
- • Tiny share count (32.3 lakh) and continued dividend/annual reporting after delisting.
What to watch
- • Delisted since 2017: no exchange price discovery and minority holders depend on dealer demand.
- • Polymer input prices and cement/fertiliser demand drive margins; net margin is under 4%.
- • Family-controlled; related-party dealings with Bapna group firms.
- • Figures preliminary; verify from MCA filings.
Compare with peers
| Company | Price | Market cap | P/E | P/B | Rev CAGR |
|---|---|---|---|---|---|
| Mewar PolytexThis page | ₹205.00 | ₹66.22 Cr | 5.23 | 1.03 | +5.67% |
| Ecosure | ₹36.00 | ₹128.88 Cr | 22.22 | 18.18 | +36.93% |
| MIL Industries | ₹250.00 | ₹78.75 Cr | 19.20 | 2.31 | +0.38% |
Latest reported year: FY25 ending 31 Mar 2025.