Resin & Plastic Unlisted Shares
Resins and Plastics Limited makes synthetic resins such as alkyds, acrylics and polyamides for paints, adhesives, printing inks and construction chemicals. It runs three plants in Maharashtra and Gujarat and reported revenue of ₹33,147.71 lakh in FY26.
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Key facts
Resin & Plastic share details
- Lot size
- 100 shares
- Min. investment
- ₹67,500
- Face value
- ₹10
- Implied market cap
- ₹282 Cr
- Shares outstanding
- 4,172,300
- Headquarters
- Mumbai, Maharashtra
- Website
- resplast.com
- ISIN
- INE422F01017
- CIN
- U25209MH1961PLC012223
- Lock-in after IPO
- 6 months
Price history
Resin & Plastic share price chart
1Y change
+17.39%
High
₹775
Low
₹495
Indicative off-market dealer quotes, not exchange prices. A flat stretch means the quote did not change on those days.
About
About Resin & Plastic
Resins and Plastics Limited, based in Mumbai, makes synthetic resins. These are the binders that go into paints, coatings, adhesives, printing inks and construction chemicals. Its range covers alkyds, acrylics, polyamides, phenolic, polyurethane and maleic resins. The company says it started operations in 1971 and calls itself a pioneer in synthetic resins in India.
It has three manufacturing plants: one at Taloja in Maharashtra and two at Ankleshwar in Gujarat. Both locations are close to shipping ports. Sales go through a pan-India network of distributors to small, large and multinational customers. Exports are small. In FY26 the home market gave ₹32,144.88 lakh of sales and exports gave ₹902.32 lakh. The company reports a single business segment, synthetic resins.
The numbers below are from the audited standalone accounts for the year ended 31 March 2026, stated in ₹ lakh. Revenue from operations was ₹33,147.71 lakh, up from ₹29,504.72 lakh in FY25. Profit after tax rose to ₹2,136.82 lakh from ₹1,160.88 lakh. Earnings per share were ₹51.21. The company had no borrowings on its balance sheet, and finance cost was only ₹9.36 lakh. The board has recommended a dividend of ₹9 per share for FY26.
The company has 41,72,300 equity shares of ₹10 each. The promoter group holds 36,97,863 shares, which is 88.63% of the total, and the rest is with other shareholders. Dipika A. Vakil is the Chairperson and Rupen A. Choksi is the Managing Director.
The company is not listed and has not filed a DRHP that we track. Its shares trade off-market through unlisted-share dealers, so the price we show (₹675 per share, lot of 100) is only an indicative price and not an exchange price. IPO Guru is not a SEBI-registered research analyst and this is not a recommendation.
Strengths
- Revenue from operations grew to ₹33,147.71 lakh in FY26 from ₹29,504.72 lakh in FY25, and was ₹21,376.31 lakh in FY22.
- Profit after tax rose to ₹2,136.82 lakh in FY26 from ₹1,160.88 lakh in FY25, and net profit margin improved to 6.47% from 3.95%.
- The company carries no borrowings. Finance cost was just ₹9.36 lakh in FY26 and the current ratio was 4.96 times.
- Return on capital employed was 22.69% and return on equity was 16.97% in FY26, up from 13.80% and 10.33% a year earlier.
- Operating cash flow was positive at ₹959.56 lakh in FY26, after a negative ₹863.57 lakh in FY25.
- It has been paying rising dividends: the dividend rate went from 55% in FY22 to 70% in FY25, and the board has recommended 90% for FY26.
- Three plants at Taloja and Ankleshwar sit close to ports, and the company has a government-recognised R&D centre for new resin products.
Risks
- Trade receivables were ₹8,908.29 lakh at March 2026, up from ₹7,270.58 lakh, and the receivables turnover ratio fell to 4.09 times from 4.50 times. A large part of working capital is locked up with customers.
- Operating cash flow was negative ₹863.57 lakh in FY25, so cash generation has not always matched reported profit.
- Material consumed was ₹25,773.89 lakh of the ₹33,147.71 lakh revenue in FY26, so raw material price swings can move margins quickly.
- Asian Paints Limited, a related party, bought goods worth ₹531.40 lakh in FY26, down from ₹728.78 lakh in FY25. A large single customer links sales to one buyer's demand.
- Almost all revenue comes from one product line, synthetic resins, and exports were only ₹902.32 lakh in FY26.
- Profit after tax fell to ₹981.42 lakh in FY23 from ₹1,181.77 lakh in FY22, and FY26 profit jumped sharply, so earnings have not been steady every year.
- The promoter group holds 88.63% of the shares, which leaves little free float and gives minority holders limited say.
- The shares are unlisted. There is no exchange price, trading depends on dealers, and the indicative price of ₹675 can differ from where a deal is actually done.
Financials
Resin & Plastic financial performance
Revenue, profit and balance-sheet figures by fiscal year.
Revenue & PAT (₹ Cr)
Revenue
PAT
| Metric | FY26Latest | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Revenue (₹ Cr) | 331 | 295 | 258 | 252 | 214 |
| PAT (₹ Cr) | 21.37 | 11.61 | 11.58 | 9.81 | 11.82 |
| PAT Margin (%) | 6.45 | 3.93 | 4.48 | 3.89 | 5.53 |
| RoNW (%) | 15.81 | 9.95 | — | — | — |
| EPS (₹) | 51.21 | 27.82 | — | — | — |
| Total Assets (₹ Cr) | 165 | 139 | — | — | — |
| Net Worth (₹ Cr) | 135 | 117 | — | — | — |
Swipe the table sideways for earlier years →
Leadership
Management team
Smt. Dipika A. Vakil
Chairperson
Chairperson of the board; retires by rotation at the next AGM and offers herself for re-appointment.
Shri Rupen A. Choksi
Managing Director
Managing Director of the company.
Shri Jalaj A. Dani
Director
Director on the board as at 31 March 2026.
Smt. Nina P. Kapasi
Independent Director
Independent director who has given the declaration of independence under the Companies Act.
Shri Atul A. Bansal
Independent Director
Independent director who has given the declaration of independence under the Companies Act.
Smt. Sunita R. Satpalkar
Chief Financial Officer
Chief Financial Officer and Compliance Officer.
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Resin & Plastic unlisted shares: common questions
Important disclaimer
Unlisted shares are not traded on stock exchanges. Prices shown are indicative and based on off-market transactions; they may differ from eventual listing or future market prices. Exit liquidity depends on counter-party availability. SEBI mandates a 6-month lock-in on pre-IPO shares post-listing. Gains held beyond 24 months are taxed at 12.5% LTCG (no indexation). IPO Guru is not a SEBI Registered Investment Advisor. Information here is for general awareness, not personalised investment advice. Please consult your tax advisor before investing.
