Premier Polyfilm Ltd

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.

Premier Polyfilm Ltd trades at ₹73.5, in a confirmed uptrend and 24 weeks into that stage. That is +25.9% against its own 200-day average. It sits at 86% of a 52-week range of ₹40 to ₹79. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 11 straight weeks.

Today the stock is in a confirmed uptrend — week 24 of stage 2, confirmed. At ₹73.5 it trades +25.9% versus its 200-day average and sits at 86% of its 52-week range (₹40–₹79).

Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +1,225% while the NIFTY 500 moved +276% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 11 straight weeks — 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.

Story check

Premier Polyfilm Ltd's story is not scored yet against the markers our research file set on 19 July 2026. Where it sits in its own cycle: Not stated in the research file. Still open: Announcement of a major debt-funded capacity expansion without a corresponding near-term demand driver, or a sharp drop in operating margins below 12%.

Our read, 19 July 2026. Premier Polyfilm is undergoing a margin-led rerating driven by operating leverage, maintaining high ROCE without new debt, though lack of visible capex caps conviction.

From the numbers. The stock sits in the STRONG_OPPORTUNITY segment with a trailing PE of 29.7. While trailing multiples look expensive at the 99th percentile, the business is demonstrating peak operating efficiency in the mid-expansion…

From the price. Price stage 2, week 24 — above its 200-day line, relative strength rising.

From the research. Premier Polyfilm is undergoing a margin-led rerating driven by operating leverage, maintaining high ROCE without new debt, though lack of visible capex caps conviction.

🚨 Where they disagree. The stock sits in the STRONG_OPPORTUNITY segment with a trailing PE of 29.7. While trailing multiples look expensive at the 99th percentile, the business is demonstrating peak operating efficiency in the mid-expansion phase.

What is proven. Premier Polyfilm is undergoing a margin-led rerating driven by operating leverage, maintaining high ROCE without new debt, though lack of visible capex caps conviction.

What is not proven yet. Announcement of a major debt-funded capacity expansion without a corresponding near-term demand driver, or a sharp drop in operating margins below 12%.

🚨 What would change our mind. Announcement of a major debt-funded capacity expansion without a corresponding near-term demand driver, or a sharp drop in operating margins below 12%.

🚨 Layer 1 read, 19 July 2026 — DROP. Small film maker being re-rated on margin operating leverage, but thin story and no capex cap conviction. Premier Polyfilm's profits are rising on operating leverage — OPM reached 16.15% and borrowings were cut to zero, lifting EPS from 0.47 to 0.87 over 12 quarters. The multiple has been re-rated to the 98th percentile of its own history, though in absolute terms 29.7x is still fair for the sector; the issue is that the re-rating is now running ahead of earnings and there is no visible capacity expansion to fuel a next leg. On a Bronze-tier, web-sourced timeline with only one nameable driver and rising working-capital days, this stays at fallback conviction.

What would change Layer 1’s mind. A concrete, demand-backed capacity/capex announcement giving a second nameable runway driver (turning this into a fresh growth leg) would raise conviction; conversely operating margin falling below 12% or a debt-funded expansion with no near-term demand driver would break the operating-leverage thesis and force a DROP.

The test written in advance. Announcement of a major debt-funded capacity expansion without a corresponding near-term demand driver, or a sharp drop in operating margins below 12%. — the thesis as written as stated by the next result.

The test written in advance. Capacity Constraints — Capacity Constraints CWIP remains zero for the next two quarters. by the next result.

The test written in advance. Working Capital Bloat — Working Capital Bloat Inventory days cross 110. by the next result.

What the company does. The company delivered 51% YoY PAT growth in Q1 FY27, driven entirely by operating leverage as margins expanded to 15.4%. Working capital days have bloated due to rising inventory, which absorbs cash, but the balance sheet remains debt-free. The primary risk is a growth plateau, as no capacity expansion is currently visible.

🚨 What the surface reading misses. The surface reading is: 99th %ile PE reads highly expensive The research reads it further: Normalized PE is also at the 100th percentile, indicating genuine re-rating and not a trough margin artifact

🚨 What the surface reading misses. The surface reading is: Working capital bloat The research reads it further: Inventory is absorbing operating cash

Lever 1 · Operating leverage — BUILDING. Margin expansion driving PAT growth. What proves it keeps working: Operating Leverage. It stops working if Raw material costs spike without pricing power.

Sources: our stock research file (19 July 2026) · quarterly results through Jun 26. The story check is re-scored every results season; the record below never changes.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Premier Polyfilm Ltd reported ₹87.9 Cr of revenue in the Jun 26 quarter, +35.1% year on year. That is the 8th straight quarter of year-on-year growth. Over 10 years it has compounded at 12.1% a year. The last full year, FY26, came in at ₹299 Cr. The last four reported quarters add to ₹322 Cr.

FY26 revenue came in at ₹299 Cr (+13.7% on the year), capping 10 years at 12.1% compound. The latest quarter (Jun 26) printed ₹87.9 Cr, +35.1% year on year — the 8th consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +20.0% growth against the decade's 12.1% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +19.4% over the last 4 quarters against +11.1%/yr over the last 8 — accelerating; TTM profit +33.8% vs +26.9%/yr — accelerating.

FY26-Q4. revenue ₹81 Cr and profit ₹9 Cr as reported.

FY27-Q1. revenue ₹88 Cr and profit ₹9 Cr as reported.

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

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.

Premier Polyfilm Ltd's operating margin is 15.4% in the Jun 26 quarter, +0.6 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged 6.0% to 16.0%. The current quarter sits inside that band.

Why this happened. Operating margins expanded to 16.15% in FY26 from 14.5% historically, pulling PAT up 51% YoY in the latest quarter.

The latest quarter's operating margin is 15.4%, +0.6 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 6.0%–16.0%, and FY26's 16.0% is the top of that band — a record year.

Why the margin moved: operating margin went +0.6 pp year on year while gross margin went −3.8 pp — the gain came mostly from the gross line: input costs and pricing.

Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.

FY26-Q4. revenue ₹81 Cr and profit ₹9 Cr as reported.

FY27-Q1. revenue ₹88 Cr and profit ₹9 Cr as reported.

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Premier Polyfilm Ltd earned ₹9.1 Cr of net profit in the Jun 26 quarter, +51.3% year on year. It is the 5th consecutive quarter of growth. Full-year FY26 profit was ₹32.0 Cr. The 10-year compound rate is 23.1%. That is 10.3% of the quarter's revenue. The same quarter a year earlier earned ₹6.0 Cr.

Jun 26 profit was ₹9.1 Cr, +51.3% year on year — the 5th consecutive quarter of growth. On the full year, FY26 printed ₹32.0 Cr (+23.1%), and the 10-year compound rate is 23.1%.

Why profit moved: revenue contributed +35.1% and the margin +0.6 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit +36.5% vs revenue +20.0%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

FY26-Q4. revenue ₹81 Cr and profit ₹9 Cr as reported.

FY27-Q1. revenue ₹88 Cr and profit ₹9 Cr as reported.

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

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 84% of Premier Polyfilm Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹27.0 Cr of operating cash against ₹32.0 Cr of profit. After ₹9.0 Cr of capital spending, ₹18.0 Cr was left as free cash.

FY26: operating cash of ₹27.0 Cr against reported profit of ₹32.0 Cr, leaving free cash of ₹18.0 Cr after ₹9.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 84% 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 84%: the cash cycle stretched 35 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

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).

Premier Polyfilm Ltd's cash conversion cycle runs 108 days in FY26, up from 73 days in FY21. Capital spending ran ₹21.0 Cr over the last 3 years. At FY26 sales of ₹299 Cr each day of that cycle holds about ₹0.8 Cr, so roughly ₹88.0 Cr sits inside the business at any moment.

FY26: debtors at 50 days, inventory at 99 days — roughly 3.3 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 108 days, looser than FY21's 73.

The full loop: cash goes out to suppliers and production on day 0; stock waits 99 days to sell; customers pay about 50 days after that; and suppliers themselves are paid at 41 days — netting out to the 108-day cycle.

In money terms: at FY26 sales of ₹299 Cr, each day of the cycle holds about ₹0.8 Cr — so the 108-day loop keeps roughly ₹88.0 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹21.0 Cr over the last 3 fiscal years against ₹15.0 Cr of depreciation — building somewhat ahead of wear-and-tear. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

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.⚠ unverified

Premier Polyfilm Ltd earns a ROCE of 31% in FY26. That is up from a trough of 13% in FY19. Return on invested capital clears the cost of that capital by +9.3 percentage points, so growth here adds value rather than only size. The wiring behind it is 10.7% net margin on 1.48× asset turns.

FY26 ROCE is 31%, recovered from a FY19 trough of 13% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 10.7% net margin × 1.48× asset turns × 1.36× balance-sheet leverage ≈ 21.5% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: 21.3% − 12.0% = a +9.3 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. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.

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.⚠ unverified

Premier Polyfilm Ltd carries total debt of ₹25.0 Cr against shareholder equity of ₹147 Cr as of Jun 26, a debt-to-equity of 0.17 — effectively unlevered. On the annual view that ratio went from 0.46 in FY22 to 0.17 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Jun 26: total debt of ₹25.0 Cr against shareholder equity of ₹147 Cr — a debt-to-equity of 0.17. On the annual view, debt-to-equity went from 0.46 (FY22) to 0.17 (FY26). The returns on this page are earned, not borrowed.

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.

Promoters added 3.7 points of Premier Polyfilm Ltd over 8 quarters, the biggest move on the register. That takes promoters to 71.1% of the company. Foreign institutions moved +0.1 points over the same window, to 0.1%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: +3.7 points over 8 quarters to 71.1%; Foreign institutions: +0.1 points over 8 quarters to 0.1%; Domestic institutions: +0.0 points over 8 quarters to 1.0%.

Why the register moved: promoters drove it (+3.7 points) — steady accumulation by institutions reading the same numbers this page reads.

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.

Premier Polyfilm 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.

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.

Premier Polyfilm Ltd trades at 22.0× P/E, at the pricey end of its own range (78th percentile). Its long-run median P/E is 18.2×, measured across 10.5 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 22.0× is at the pricey end of its own range (78th percentile), against a long-run median of 18.2× measured over 10.5 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 +22.6% against a +53.6% price move — the price outran earnings, pushing the multiple UP its own range.

The price move, decomposed: over 5y, of the +33.7%/yr price move, ~+26.8%/yr came from earnings growth and ~+6.9 pp from the multiple (expanding); over 10y, of the +31.9%/yr price move, ~+25.3%/yr came from earnings growth and ~+6.6 pp from the multiple (expanding). 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 full against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.

At its price on 20 July 2026, Premier Polyfilm Ltd was priced for profit growth of about 12.3% a year. Profit itself has compounded 23.1% a year over the past 10 years. The market pays that at 22.0× P/E, the 78th percentile of its own 11-year range.

What the two numbers say together. The multiple is full against its own past, and the growth the price is paying for is below what this company has actually delivered. Both readings sit on the same earnings, so they are one reading rather than two.

How to hold this number: it is a reading of one day's price, taken on 20 July 2026, not a running figure. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements. Every other number on this page is read off the live quote.

Stage: Consistent 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).

Premier Polyfilm Ltd reads as consistent on its fundamental arc. Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 31.0% and holding. The read is built from 8 quarters across 4 curves, on partial evidence.

Why it matters: steady curves with healthy returns are the compounding setup — the risk is the price, not the business.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

4-Factor Sector Score

76.8/100 — rank 1 of 2 in Plastics - Sheets/Films · 84% evidence confidence

Premier Polyfilm Ltd scores 76.8 out of 100 against the 2 companies it is compared with in Plastics - Sheets/Films, ranking 1. Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.

The four contributions add to the total exactly: 28.9 + 20.4 + 7.5 + 20 = 76.8. 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.

Frequently asked questions