Axel Polymers Ltd

AXELPOLY

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Market Cap

₹ 43 Cr

P/E

28.18

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Performance

STEADY PERFORMER

Valuation

OVERVALUED

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

HIGH RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Axel Polymers Limited is India’s largest manufacturer of engineering thermoplastic compounds, specializing in compounds, blends, and alloys of engineering and specialty polymers.

The company has a robust operating history of over three decades, reflecting deep industry expertise and market knowledge in both international and domestic markets.

Axel Polymers completed a significant amalgamation with Dhara Petrochemicals Private Limited in September 2021, aiming to enhance its market position and operational capabilities.

Despite its stronghold in the engineering polymer sector, Axel faces competitive pressures and constant demand for innovation to maintain its industry leadership.

Sector

Plastic products

Industry

Plastics - Masterbatches

Market Cap

43 Cr

Volatility

Low Risk

P/E Ratio

28.2

Industry P/E

28.2

PEG Ratio

—

P/B Ratio

2.8

52W High

60.00

52W Low

27.72

Sales CAGR

-38.95%

2.31%

27.81%

10Y

16.11%

Profit CAGR

-89.10%

-42.57%

13.14%

10Y

1.43%

ROE

TTM

10.02%

6.67%

6.65%

10Y

7.53%

ROCE

TTM

9.49%

21.05%

21.87%

10Y

20.78%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
NATPLAS	55.98	50 Cr	10.10	1.13	0.00	11.20	11.17	5.74
POLYLINK	21.97	47 Cr	38.42	1.54	0.00	4.02	5.37	2.68
INNOVTEC	19.90	45 Cr	—	1.24	0.00	-7.98	1.80	-3.31
AXELPOLY	50.00	43 Cr	28.18	2.82	0.00	10.02	9.49	2.30
INDOBELL	70.00	42 Cr	19.02	2.69	3.03	14.06	20.09	11.97
PEARLPOLY	21.63	38 Cr	—	1.11	0.00	-16.56	-16.61	-14.08
GUJPETR	60.00	36 Cr	18.40	0.70	0.00	3.83	4.72	3.59

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	26	31	39	37	42	14	11	14	12	11
Expenses	24	30	37	36	42	14	11	11	11	9.79
Operating Profit	1.53	1.39	1.47	1.42	0.31	0.15	0.16	3.30	1.00	0.93
OPM %	5.93	4.50	3.80	3.81	0.73	1.08	1.44	23.03	8.55	8.68
Other Income	0.01	0.01	0.01	0.01	0.03	0.01	0.01	0.09	0.01	0.02
Interest	0.80	0.78	0.67	0.62	0.75	0.85	0.81	0.82	0.82	0.79
Depreciation	0.12	0.12	0.12	0.34	0.12	0.12	0.12	0.20	0.15	0.15
Profit Before Tax	0.62	0.50	0.69	0.48	-0.53	-0.81	-0.76	2.37	0.04	0.01
Tax %	0.00	0.00	2.90	114.58	0.00	0.00	0.00	5.91	0.00	0.00
Net Profit	0.62	0.50	0.67	-0.07	-0.53	-0.81	-0.76	2.23	0.04	0.01
EPS in Rs	0.73	0.59	0.79	-0.08	-0.62	-0.95	-0.89	2.62	0.05	0.01

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	22	27	24	23	48	73	83	128	78	51
Expenses	21	26	23	22	44	69	78	122	74	46
Operating Profit	1.13	1.32	1.66	1.40	3.91	4.11	5.12	5.79	3.96	4.61
OPM %	5.13	4.88	6.82	6.10	8.09	5.64	6.20	4.53	5.08	9.04
Other Income	0.27	0.04	0.02	0.02	0.40	0.55	0.28	0.04	0.14	0.12
Interest	0.93	0.79	0.91	0.97	3.32	2.84	3.16	2.84	3.23	3.30
Depreciation	0.21	0.28	0.33	0.36	0.42	0.48	0.54	0.70	0.56	0.59
Profit Before Tax	0.26	0.29	0.43	0.08	0.57	1.34	1.70	2.29	0.31	0.84
Tax %	15.64	19.06	-7.62	-18.77	-15.72	31.74	30.39	31.94	44.28	16.67
Net Profit	0.22	0.23	0.47	0.09	0.66	0.92	1.18	1.56	0.17	0.70
EPS in Rs	0.28	0.46	0.51	0.12	0.23	0.93	1.38	2.03	0.16	1.79
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	4.30	4.30	4.30	4.30	4.30	8.52	8.52	8.52	8.52	8.52
Reserves	-3.29	-3.09	-2.84	-2.37	-2.31	2.90	3.81	5.01	6.47	6.62
Borrowings	5.45	5.69	7.45	7.55	7.45	26	26	25	26	34
Other Liabilities	6.67	6.96	6.30	5.06	6.86	14	17	16	24	18
Total Liabilities	13	14	15	15	16	52	55	55	64	67
Fixed Assets	2.81	3.50	3.60	3.86	3.66	7.83	7.71	8.84	9.77	10
CWIP	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	10	10	12	11	13	44	48	46	55	57
Total Assets	13	14	15	15	16	52	55	55	64	67

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-1.77	1.14	-0.62	1.39	1.22	-1.73	3.20	5.97	3.46	-3.66
Cash from Investing Activity	0.20	-0.70	-0.34	-0.58	-0.14	-0.01	-0.19	-1.57	-1.59	-0.87
Cash from Financing Activity	1.08	-0.70	0.97	-0.81	-1.08	1.34	-2.81	-3.57	-1.92	5.69
Net Cash Flow	-0.50	-0.27	0.02	-0.00	0.00	-0.39	0.21	0.84	-0.05	1.16

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	61.90%	61.90%	61.90%	61.90%	61.72%	61.26%	61.26%	61.16%	61.16%	61.16%	61.16%	61.16%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%
Public	37.87%	37.87%	37.87%	37.87%	38.05%	38.51%	38.51%	38.61%	38.61%	38.61%	38.61%	38.61%
Total Shareholders	10,163	10,140	10,094	10,111	10,158	10,221	10,199	10,158	10,139	10,105	10,098	10,067

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Dec 06, 2025	Aarasp bejan bodhanwala	Insider - Promoter & Director	Disposal	55.56	0.34 Cr	60,986	0.71
Dec 03, 2025	Aarasp bejan bodhanwala	Bulk	Sell	55.56	0.34 Cr	60,986	0.71
Mar 27, 2025	Chirag ashok mehta	Bulk	Sell	34.00	0.36 Cr	1,07,000	1.25
Mar 27, 2025	Tejal parag dattani	Bulk	Buy	33.99	0.39 Cr	1,14,971	1.34
Mar 26, 2024	Tinaz aarasp bodhanwala	Insider - Promoter	Disposal	63.14	0.11 Cr	16,708	0.19
Mar 20, 2024	Tinaz aarasp bodhanwala	Insider - Promoter	Disposal	63.76	0.12 Cr	18,757	0.21
Dec 20, 2023	Tinaz aarasp bodhanwala	Insider - Promoter	Disposal	51.77	0.10 Cr	20,145	0.23
Jul 20, 2023	Bhavya dhiman	Bulk	Sell	41.99	0.21 Cr	49,000	0.57
Mar 29, 2023	Bhavya dhiman	Bulk	Buy	39.87	0.20 Cr	49,000	0.57
Mar 29, 2023	Akshay rajendrabhai oswal	Bulk	Sell	39.87	0.20 Cr	48,999	0.57

Projection

Actions

Action Type

‌
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Announcements

Last 7 days

Newest

Sentiment

Equity Allotment

2 days ago

Equity Shares Allotment Approval

The Board of Directors has approved the allotment of 24,84,444 equity shares at an issue price of Rs. 45 each, aggregating to Rs. 11.18 crore on a preferential basis.

Documents

Presentations

Concalls

Reports

Presentations

No documents found!

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Oscillators

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Neutral

Bullish

Overall

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Moving Averages

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Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	26	31	39	37	42	14	11	14	12	11
Expenses	24	30	37	36	42	14	11	11	11	9.79
Operating Profit	1.53	1.39	1.47	1.42	0.31	0.15	0.16	3.30	1.00	0.93
OPM %	5.93	4.50	3.80	3.81	0.73	1.08	1.44	23.03	8.55	8.68
Other Income	0.01	0.01	0.01	0.01	0.03	0.01	0.01	0.09	0.01	0.02
Interest	0.80	0.78	0.67	0.62	0.75	0.85	0.81	0.82	0.82	0.79
Depreciation	0.12	0.12	0.12	0.34	0.12	0.12	0.12	0.20	0.15	0.15
Profit Before Tax	0.62	0.50	0.69	0.48	-0.53	-0.81	-0.76	2.37	0.04	0.01
Tax %	0.00	0.00	2.90	114.58	0.00	0.00	0.00	5.91	0.00	0.00
Net Profit	0.62	0.50	0.67	-0.07	-0.53	-0.81	-0.76	2.23	0.04	0.01
EPS in Rs	0.73	0.59	0.79	-0.08	-0.62	-0.95	-0.89	2.62	0.05	0.01

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	22	27	24	23	48	73	83	128	78	51
Expenses	21	26	23	22	44	69	78	122	74	46
Operating Profit	1.13	1.32	1.66	1.40	3.91	4.11	5.12	5.79	3.96	4.61
OPM %	5.13	4.88	6.82	6.10	8.09	5.64	6.20	4.53	5.08	9.04
Other Income	0.27	0.04	0.02	0.02	0.40	0.55	0.28	0.04	0.14	0.12
Interest	0.93	0.79	0.91	0.97	3.32	2.84	3.16	2.84	3.23	3.30
Depreciation	0.21	0.28	0.33	0.36	0.42	0.48	0.54	0.70	0.56	0.59
Profit Before Tax	0.26	0.29	0.43	0.08	0.57	1.34	1.70	2.29	0.31	0.84
Tax %	15.64	19.06	-7.62	-18.77	-15.72	31.74	30.39	31.94	44.28	16.67
Net Profit	0.22	0.23	0.47	0.09	0.66	0.92	1.18	1.56	0.17	0.70
EPS in Rs	0.28	0.46	0.51	0.12	0.23	0.93	1.38	2.03	0.16	1.79
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	4.30	4.30	4.30	4.30	4.30	8.52	8.52	8.52	8.52	8.52
Reserves	-3.29	-3.09	-2.84	-2.37	-2.31	2.90	3.81	5.01	6.47	6.62
Borrowings	5.45	5.69	7.45	7.55	7.45	26	26	25	26	34
Other Liabilities	6.67	6.96	6.30	5.06	6.86	14	17	16	24	18
Total Liabilities	13	14	15	15	16	52	55	55	64	67
Fixed Assets	2.81	3.50	3.60	3.86	3.66	7.83	7.71	8.84	9.77	10
CWIP	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	10	10	12	11	13	44	48	46	55	57
Total Assets	13	14	15	15	16	52	55	55	64	67

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-1.77	1.14	-0.62	1.39	1.22	-1.73	3.20	5.97	3.46	-3.66
Cash from Investing Activity	0.20	-0.70	-0.34	-0.58	-0.14	-0.01	-0.19	-1.57	-1.59	-0.87
Cash from Financing Activity	1.08	-0.70	0.97	-0.81	-1.08	1.34	-2.81	-3.57	-1.92	5.69
Net Cash Flow	-0.50	-0.27	0.02	-0.00	0.00	-0.39	0.21	0.84	-0.05	1.16

Overview

Detailed Summary

Axel Polymers Limited is India’s largest manufacturer of engineering thermoplastic compounds, specializing in compounds, blends, and alloys of engineering and specialty polymers.

The company has a robust operating history of over three decades, reflecting deep industry expertise and market knowledge in both international and domestic markets.

Axel Polymers completed a significant amalgamation with Dhara Petrochemicals Private Limited in September 2021, aiming to enhance its market position and operational capabilities.

Despite its stronghold in the engineering polymer sector, Axel faces competitive pressures and constant demand for innovation to maintain its industry leadership.

Sector

Plastic products

Industry

Plastics - Masterbatches

Market Cap

43 Cr

Volatility

Low Risk

P/E Ratio

28.2

Industry P/E

28.2

PEG Ratio

—

P/B Ratio

2.8

52W High

60.00

52W Low

27.72

Sales CAGR

-38.95%

2.31%

27.81%

10Y

16.11%

Profit CAGR

-89.10%

-42.57%

13.14%

10Y

1.43%

ROE

TTM

10.02%

6.67%

6.65%

10Y

7.53%

ROCE

TTM

9.49%

21.05%

21.87%

10Y

20.78%

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
NATPLAS	55.98	50 Cr	10.10	1.13	0.00	11.20	11.17	5.74
POLYLINK	21.97	47 Cr	38.42	1.54	0.00	4.02	5.37	2.68
INNOVTEC	19.90	45 Cr	—	1.24	0.00	-7.98	1.80	-3.31
AXELPOLY	50.00	43 Cr	28.18	2.82	0.00	10.02	9.49	2.30
INDOBELL	70.00	42 Cr	19.02	2.69	3.03	14.06	20.09	11.97
PEARLPOLY	21.63	38 Cr	—	1.11	0.00	-16.56	-16.61	-14.08
GUJPETR	60.00	36 Cr	18.40	0.70	0.00	3.83	4.72	3.59