Resins and Plastics Ltd
Debt-free Mumbai resin maker owned by Asian Paints promoter families, with ₹297 Cr revenue and a dealer quote near 13x earnings.
Market cap
₹182.23 Cr
0.42 Cr shares
P/E ratio
13.81
Sector average 25
Book value
₹204.24
P/B 2.14
1-year return
+0.00%
52w ₹437 – ₹437
Currently 0% of the way through its 52-week range.
Indicative price history
1Y change
+0.00% ₹437 → ₹437
52-week band in this window: ₹437.00 – ₹437.00. Weekly indicative marks, not exchange-traded prices.
Key highlights
- Synthetic resins for paints, inks and adhesives since 1961; plant at Marol, Mumbai.
- Revenue ₹297 Cr in FY25 (+14%); PAT ₹12 Cr in FY24; zero debt.
- Board from the Dani and Choksi families of Asian Paints.
About Resins & Plastics
Resins and Plastics Limited (RPL), incorporated on 22 December 1961, manufactures alkyd, polyamide, acrylic, amino and other synthetic resins used by the paint, printing-ink and adhesive industries. Its plant and registered office are at Marol MIDC in Andheri, Mumbai.
The board is drawn from the Dani and Choksi families, promoter families of Asian Paints, which has historically been RPL's most important customer. The company has about 109 employees and 41.7 lakh shares of ₹10 (paid-up capital ₹4.17 Cr).
Revenue rose from ₹252 Cr in FY23 to ₹258 Cr in FY24 and ₹297 Cr in FY25 (+14%). Profit after tax was ₹10 Cr in FY23 and ₹12 Cr in FY24 (net margin 4.65%), with profit before tax of ₹15.55 Cr in FY24. The company is debt-free and generated ₹1.27 Cr of net cash in FY24.
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
- Resins for paints & coatings75%
Alkyd, acrylic and amino resins
- Resins for inks & adhesives25%
Polyamide and specialty resins
Products & services
Alkyd resins
Long, medium and short oil alkyds for decorative and industrial coatings.
Acrylic & amino resins
Acrylic emulsions and amino cross-linkers for coatings.
Polyamide resins
Resins for printing inks and adhesives.
What works
- • Debt-free balance sheet with a current ratio above 6 and improving return on capital (14.9% in FY24).
- • Sixty-year supplier relationship with Asian Paints and the paint industry through its promoter families.
- • Revenue growth of 14% in FY25 with steady profit growth.
What to watch
- • Gross margins compressed from 47% in FY22 to under 20% in FY24 as raw-material prices moved; net margin is under 5%.
- • Heavy customer concentration in the paints industry, particularly Asian Paints.
- • Small, closely held float; dealer quotes can move sharply on little volume.
- • Figures preliminary; verify from MCA filings.
Compare with peers
| Company | Price | Market cap | P/E | P/B | Rev CAGR |
|---|---|---|---|---|---|
| Resins & PlasticsThis page | ₹437.00 | ₹182.23 Cr | 13.81 | 2.14 | +8.56% |
| Ecosure | ₹36.00 | ₹128.88 Cr | 22.22 | 18.18 | +36.93% |
| India Carbon | ₹888.00 | ₹235.32 Cr | — | 0.52 | -44.95% |
| MIL Industries | ₹250.00 | ₹78.75 Cr | 19.20 | 2.31 | +0.38% |
Latest reported year: FY25 ending 31 Mar 2025.