Styrenix Performance Materials Ltd
STYRENIXStyrenix Performance Materials Ltd is coiled. The quarters are improving, yet the P/E sits at the 17th percentile of its own 10-year range — the business is moving before the market.
The sharpest disagreement: Foreign institutions moved −4.1 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced.
The price is building a base (7 weeks in) while the P/E sits at the 17th percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +32.7% year on year, and 77% of the last 3 years' profit arrived as cash. What settles it: whether the register turns back in the story’s favour.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Styrenix Performance Materials Ltd trades at ₹2,235, building a base and 7 weeks into that stage. That is +0.0% against its own 200-day average. It sits at 48% of a 52-week range of ₹1,825 to ₹2,679. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (4 weeks and counting).
Today the stock is building a base — week 7 of stage 1. At ₹2,235 it trades +0.0% versus its 200-day average and sits at 48% of its 52-week range (₹1,825–₹2,679).
Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +302% while the NIFTY 500 moved +274% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (4 weeks and counting; last ahead the week of 2026-06-25) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 17th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Styrenix Performance Materials Ltd trades at 23.4× P/E, near the bottom of its own range — cheaper only 17% of the time. Its long-run median P/E is 67.2×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 23.4× is near the bottom of its own range — cheaper only 17% of the time, against a long-run median of 67.2× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved −22.2% against a −29.6% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +9.4%/yr price move, ~+57.8%/yr came from earnings growth and ~−48.4 pp from the multiple (compressing); over 10y, of the +13.2%/yr price move, ~+25.6%/yr came from earnings growth and ~−12.4 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Deteriorating Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Styrenix Performance Materials Ltd reads as deteriorating on its fundamental arc. Deteriorating — profit and EPS growth are shrinking (profit growth −20.5% latest against +57.0% at its 12-quarter best), ROCE slipping at 14.0%. The read is built from 12 quarters across 4 curves, on full evidence.
🚨 Why it matters: falling curves mean every cheap-looking ratio below needs a discount for direction.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +15.3% | — | — | — |
| Profit | −22.1% | — | — | — |
| EPS | −22.2% | — | — | — |
| Share price | −29.6% | +24.2% | +9.4% | +13.2% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
48.5/100 — rank 5 of 7 in Petrochem - Polymers · 90% evidence confidence
Styrenix Performance Materials Ltd scores 48.5 out of 100 against the 7 companies it is compared with in Petrochem - Polymers, ranking 5. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 15.7 + 13.7 + 12.3 + 6.8 = 48.5. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Styrenix Performance Materials Ltd reported ₹826 Cr of revenue in the Mar 26 quarter, −12.1% year on year. Over 11 years it has compounded at 5.0% a year. The last full year, FY26, came in at ₹3,438 Cr. The last four reported quarters add to ₹3,438 Cr.
Styrenix Performance Materials Ltd reported ₹826 Cr of revenue in the Mar 26 quarter, −12.1% year on year. Over 11 years it has compounded at 5.0% a year. The last full year, FY26, came in at ₹3,438 Cr. The last four reported quarters add to ₹3,438 Cr.
FY26 revenue came in at ₹3,438 Cr (+15.3% on the year), capping 11 years at 5.0% compound. The latest quarter (Mar 26) printed ₹826 Cr, −12.1% year on year.
Pace check: the last four quarters averaged +17.8% growth against the decade's 5.0% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +15.3% over the last 4 quarters against +24.4%/yr over the last 8 — rolling over; TTM profit −20.5% vs +4.0%/yr — rolling over.
→ Revenue slipped — did margins hold as it scaled? Next: 14.0% this quarter (+5.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Styrenix Performance Materials Ltd's operating margin is 14.0% in the Mar 26 quarter, +5.0 percentage points against the same quarter a year ago. Across 4 fiscal years the operating margin has ranged 4.0% to 12.0%. The current quarter is running above every full year in that window.
Styrenix Performance Materials Ltd's operating margin is 14.0% in the Mar 26 quarter, +5.0 percentage points against the same quarter a year ago. Across 4 fiscal years the operating margin has ranged 4.0% to 12.0%. The current quarter is running above every full year in that window.
The latest quarter's operating margin is 14.0%, +5.0 pp against the same quarter a year ago. Across 4 fiscal years the operating margin has ranged 4.0%–12.0%.
Why the margin moved: operating margin went +4.8 pp year on year while gross margin went +3.4 pp — the gain came mostly from the gross line: input costs and pricing.
→ Margins held — did that reach the bottom line? Next: profit +32.7% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Styrenix Performance Materials Ltd earned ₹73.0 Cr of net profit in the Mar 26 quarter, +32.7% year on year. Full-year FY26 profit was ₹183 Cr. The 11-year compound rate is 22.9%. That is 8.8% of the quarter's revenue. The same quarter a year earlier earned ₹55.0 Cr.
Styrenix Performance Materials Ltd earned ₹73.0 Cr of net profit in the Mar 26 quarter, +32.7% year on year. Full-year FY26 profit was ₹183 Cr. The 11-year compound rate is 22.9%. That is 8.8% of the quarter's revenue. The same quarter a year earlier earned ₹55.0 Cr.
Mar 26 profit was ₹73.0 Cr, +32.7% year on year. On the full year, FY26 printed ₹183 Cr (−22.1%), and the 11-year compound rate is 22.9%.
Why profit moved: revenue contributed −12.1% and the margin +5.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit −21.1% vs revenue +17.8%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
→ Profit rose — but did the cash follow? Next: 77% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 77% of Styrenix Performance Materials Ltd's reported profit arrived as operating cash — most of the profit is real cash. In FY26 that was ₹183 Cr of operating cash against ₹183 Cr of profit. After ₹289 Cr of capital spending, ₹−106 Cr was left as free cash.
FY26: operating cash of ₹183 Cr against reported profit of ₹183 Cr, leaving free cash of ₹−106 Cr after ₹289 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 77% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 77%: the cash cycle stretched 52 days between FY15 and FY26 — more of each rupee of profit waits inside the cycle before arriving.
Router verdict: conversion is below par and the cash cycle has stretched 52 days — the next section's job is to find where the cash is stuck.
→ So follow the cash to where it goes. Next: the 81-day cycle, in money terms.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Styrenix Performance Materials Ltd's cash conversion cycle runs 81 days in FY26, up from 29 days in FY15. Capital spending ran ₹911 Cr over the last 2 years. At FY26 sales of ₹3,438 Cr each day of that cycle holds about ₹9.4 Cr, so roughly ₹763 Cr sits inside the business at any moment.
FY26: debtors at 46 days, inventory at 97 days — roughly 3.2 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 81 days, looser than FY15's 29.
The full loop: cash goes out to suppliers and production on day 0; stock waits 97 days to sell; customers pay about 46 days after that; and suppliers themselves are paid at 61 days — netting out to the 81-day cycle.
In money terms: at FY26 sales of ₹3,438 Cr, each day of the cycle holds about ₹9.4 Cr — so the 81-day loop keeps roughly ₹763 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹911 Cr over the last 2 fiscal years against ₹167 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹105 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 15% and the ROIC − WACC spread is −1.3 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Styrenix Performance Materials Ltd earns a ROCE of 15% in FY26. Return on invested capital clears the cost of that capital by −1.3 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 5.3% net margin on 1.38× asset turns.
FY26 ROCE is 15%.
🚨 Why the return is what it is — the wiring (FY26): 5.3% net margin × 1.38× asset turns × 1.82× balance-sheet leverage ≈ 13.3% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 10.7% − 12.0% = a −1.3 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.24.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Styrenix Performance Materials Ltd carries total debt of ₹548 Cr against shareholder equity of ₹1,366 Cr as of Mar 26, a debt-to-equity of 0.40. On the annual view that ratio went from 0.06 in FY22 to 0.40 in FY26. Read the returns elsewhere on this page with that leverage in mind.
Mar 26: total debt of ₹548 Cr against shareholder equity of ₹1,366 Cr — a debt-to-equity of 0.40. On the annual view, debt-to-equity went from 0.06 (FY22) to 0.40 (FY26). Read the returns on this page with that leverage in mind.
→ Who owns this, and are they adding or leaving? Next: Domestic institutions added 6.8 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Domestic institutions added 6.8 points of Styrenix Performance Materials Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 17.4% of the company. Foreign institutions moved −4.1 points over the same window, to 0.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +6.8 points over 8 quarters to 17.4%; Foreign institutions: −4.1 points over 8 quarters to 0.9%; Promoters: +0.0 points over 8 quarters to 46.2%.
Why the register moved: rotation — foreign institutions −4.1 points against domestic institutions +6.8 points over 8 quarters, with promoters holding steady — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Styrenix Performance Materials Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Styrenix Performance Materials Ltd this page | 23.4× | ₹4,318 Cr | No read | |||
| Supreme Petrochem Ltd | 42.7× | ₹13,945 Cr | — | — | — | — |
| Chemplast Sanmar Ltd | — | ₹3,198 Cr | No read | |||
| Bhansali Engineering Polymers Ltd | 15.2× | ₹3,031 Cr | Turning around | |||
| NOCIL Ltd | 58.1× | ₹2,674 Cr | Turning around | |||
| Manali Petrochemicals Ltd | 16.2× | ₹1,148 Cr | Mixed | |||
| Kothari Petrochemicals Ltd | 10.7× | ₹776 Cr | Mixed |
Frequently asked questions
What is Styrenix Performance Materials Ltd's share price today?
Styrenix Performance Materials Ltd trades at ₹2,235, −29.6% over the past year. The company is valued at ₹4,318 Cr. The stock sits at 48% of its 52-week range of ₹1,825–₹2,679, +0.0% versus its 200-day average. On the tape, the price is building a base, 7 weeks in. — as of 24 July 2026.
What were Styrenix Performance Materials Ltd's latest quarterly results?
Styrenix Performance Materials Ltd reported revenue of ₹826 Cr and net profit of ₹73.0 Cr for the Mar 26 quarter. Revenue fell 12.1% and profit rose 32.7% year on year. Earnings per share were ₹41.78. The operating margin was 14.0%, 5.0 pp higher than a year earlier. — as of 24 July 2026.
What is Styrenix Performance Materials Ltd's revenue?
Styrenix Performance Materials Ltd reported revenue of ₹826 Cr in the Mar 26 quarter, −12.1% year on year. For the full FY26 fiscal year, revenue was ₹3,438 Cr (+15.3%). Over the last 11 years revenue compounded at 5.0% a year. — as of 24 July 2026.
What is Styrenix Performance Materials Ltd's profit?
Styrenix Performance Materials Ltd earned ₹73.0 Cr of net profit in the Mar 26 quarter, +32.7% year on year. Full-year FY26 profit was ₹183 Cr. The operating margin ran 14.0% in the latest quarter. — as of 24 July 2026.
What is Styrenix Performance Materials Ltd's market cap?
Styrenix Performance Materials Ltd's market capitalisation is ₹4,318 Cr at a share price of ₹2,235. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Styrenix Performance Materials Ltd's P/E ratio?
Styrenix Performance Materials Ltd trades at a P/E of 23.4×, at the 17th percentile of its own 10-year range, against a long-run median of 67.2×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Styrenix Performance Materials Ltd pay a dividend?
Yes — Styrenix Performance Materials Ltd's dividend payout was 52% of profit in FY26, and it recorded a payout in each of its last 4 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.
Is Styrenix Performance Materials Ltd overvalued?
On its own history, Styrenix Performance Materials Ltd looks cheap against its own history: its P/E of 23.4× has been cheaper only 17% of the time in 10 years (long-run median 67.2×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is Styrenix Performance Materials Ltd growing?
Yes — Styrenix Performance Materials Ltd is growing: latest-quarter revenue −12.1% year on year, profit +32.7%, and the margin +5.0 pp at 14.0%. The 11-year compound rates are 5.0% (revenue) and 22.9% (profit). The earnings engine currently reads: improving — as of 24 July 2026.
How is Styrenix Performance Materials Ltd performing?
Styrenix Performance Materials Ltd is building a base, 7 weeks in. Its latest quarter's revenue fell 12.1% and profit rose 32.7% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 4 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is Styrenix Performance Materials Ltd in?
Deteriorating — profit and EPS growth are shrinking (profit growth −20.5% latest against +57.0% at its 12-quarter best), ROCE slipping at 14.0%. The read comes from the last 12 quarters of growth (revenue growth +15.3% latest, profit growth −20.5% latest, eps growth −20.2% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is Styrenix Performance Materials Ltd in an uptrend?
No — the price is building a base (week 7 of stage 1), trading +0.0% versus its 200-day average and at 48% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Styrenix Performance Materials Ltd beating the market?
Not lately — on a trailing-13-week view Styrenix Performance Materials Ltd is currently behind the NIFTY 500 (4 weeks and counting; last ahead the week of 2026-06-25), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.3 years the stock moved +302% against the NIFTY 500's +274% — ahead of the index over the full window. — as of 24 July 2026.
Will Styrenix Performance Materials Ltd's share price go up?
This page publishes no price forecast for Styrenix Performance Materials Ltd. What it measures instead: the share price is ₹2,235, the price is building a base 7 weeks in. Its P/E of 23.4× sits at the 17th percentile of its own 10-year range. — as of 24 July 2026.
Who owns Styrenix Performance Materials Ltd?
Promoters hold 46.2% of Styrenix Performance Materials Ltd, foreign institutions 0.9%, domestic institutions 17.4% and the public 35.5% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 6.8 points over 8 quarters. — as of 24 July 2026.
Does Styrenix Performance Materials Ltd have too much debt?
No — Styrenix Performance Materials Ltd's debt-to-equity is 0.24, and operating profit covers the interest bill 18×. FY26 borrowings were ₹326 Cr against equity of ₹1,367 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is Styrenix Performance Materials Ltd's capex?
Styrenix Performance Materials Ltd spent ₹911 Cr on capital expenditure over the last 2 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹289 Cr, with ₹105 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Styrenix Performance Materials Ltd's cash flow?
Styrenix Performance Materials Ltd generated ₹183 Cr of operating cash flow in FY26 and ₹−106 Cr of free cash flow after ₹289 Cr of capital spending. Reported profit that year was ₹183 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Styrenix Performance Materials Ltd's profit real cash?
Mostly — over the last 3 fiscal years, 77% of Styrenix Performance Materials Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹183 Cr against reported profit of ₹183 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 24 July 2026.
Where is Styrenix Performance Materials Ltd in its business cycle?
Styrenix Performance Materials Ltd's FY26 operating margin was 10.0%, against a 4-year band of 4.0%–12.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 14.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Styrenix Performance Materials Ltd story?
The sharpest disagreement: Foreign institutions moved −4.1 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Styrenix Performance Materials Ltd a stock worth studying right now?
This is not investment advice. The machine read: Styrenix Performance Materials Ltd is coiled. The quarters are improving, yet the P/E sits at the 17th percentile of its own 10-year range — the business is moving before the market. The sharpest open question: whether the register turns back in the story’s favour. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.