HCP Plastene Bulkpack (BSE: HPBL) had a P/E of 8.0× on 6 Nov 2026, below the industry P/E of 18.1×, and the shares are 27% below their 52-week high. Its ROCE of 36% is the second-highest among the 7 largest Packaging & Containers peers, and sales grew 19% a year over 3 years. Its dividend yield is 0.7%, and debt is 2.29× equity. It is a small-cap company with a market cap of ₹317 Cr, ranked 27th of 83 Packaging & Containers companies by market cap; the shares rose 92% over the past year.
- ₹293.80
- ₹306.45
- ₹292.05
- ₹293.70
- 4.5K
Health check
- ReturnsAhead
+92.3% over a year, better than 7 of 7 peers.
- Price tagCheaper
P/E 8.0 vs industry 18.1.
- GrowthStrong
Sales +18.8% a year over 3 years.
- ProfitabilityStrong
ROCE 35.7% vs peer median 16.7%.
- Balance sheetStretched
Debt 2.29× equity, interest covered 2.9×, Piotroski 5 of 9.
- Red flags2 to check
Debt is 2.29× equity.
Small cap
High beta
Key metrics
- Market cap
- ₹317 Cr
- Small cap
- P/E
- 8.0
- Industry 18.1
- Price to book
- 3.80
- Peers 2.06
- Dividend yield
- 0.67%
- ROE
- 32.8%
- Peers 14.4%
- ROCE
- 35.7%
- Peers 16.7%
- Debt to equity
- 2.29
- Debt ₹246 Cr
- EPS (TTM)
- ₹37.25
- OPM (TTM)
- 12.5%
- Net margin 5.2%
- Sales growth
- +38.5%
- Latest quarter vs a year ago
- Profit growth
- +244.2%
- Latest quarter vs a year ago
- Price to sales
- 0.50
- EV/EBITDA 7.2
Strengths and risks
Strengths
- Return on equity of 32.8%.
- Return on capital employed of 35.7%.
- Quarterly profit up 244.2% on a year ago.
- Quarterly sales up 38.5% on a year ago.
- P/E of 8.0 against an industry P/E of 18.1.
Risks to check
- Debt is 2.29× equity.
- Interest coverage of only 2.7×.
About HCP Plastene Bulkpack
HCP Plastene Bulkpack Limited provides plastic packaging solutions in India. It operates in two segments, Woven Sack and Woven Label. It provides flexible intermediate bulk containers (FIBC) bags and liners, and AD star bags; technical textiles; polypropylene (PP) woven bags and sacks; and biaxially oriented polypropylene bags. The company also offers PP Febric, PP webbing, multi filament yarn, and PP Yarn, as well as bulk and jumbo bags, and garment…
- Headquarters
- Ahmedabad
- Employees
- 110
- Sector
- Consumer Cyclical
- ISIN
- INE136C01044
- Website
- hpbl.in
Price range
- Avg volume (3M)
- 9.4K
- 1-year return
- plus 92.3%
- From 52-week high
- minus 26.7%
Peers · Packaging & Containers
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TIMETECHNOTime Technoplast | 170.65 | minus 1.98% | 8,424 | 15.9 | 2.06 | 15.3% | 13.4% | 10.3% | 12.5% | 28.9% | 0.86% | minus 17.5% |
| EPLEPL | 221.31 | minus 3.61% | 7,101 | 18.1 | 2.26 | 16.7% | 14.9% | 19.8% | 8.5% | 19.7% | 2.26% | plus 13.4% |
| AGIAGI Greenpac | 645.55 | minus 3.31% | 4,177 | 11.8 | 1.65 | 18.2% | 14.9% | 22.0% | 5.5% | 10.4% | 1.08% | minus 18.3% |
| UFLEXUFLEX | 575.30 | minus 2.13% | 4,154 | 6.1 | 0.51 | 7.5% | 4.1% | 14.0% | 1.4% | −12.9% | 0.52% | plus 9.1% |
| TCPLPACKTCPL Packaging | 4,431.10 | minus 2.80% | 4,024 | 34.9 | 5.61 | 18.3% | 14.4% | 12.8% | 7.3% | −4.2% | 0.55% | plus 37.9% |
| JINDALPOLYJindal Poly Films | 697.50 | minus 0.11% | 3,054 | – | 1.00 | −18.2% | −29.9% | −36.5% | −15.6% | – | 0.00% | plus 25.0% |
| KNACKKnack Packaging | 199.71 | plus 1.42% | 2,444 | 21.6 | 3.34 | 38.3% | 35.5% | 17.8% | 16.6% | 67.1% | 0.00% | plus 9.1% |
| HPBLHCP Plastene Bulkpack | 296.80 | plus 1.06% | 317 | 8.0 | 3.80 | 35.7% | 32.8% | 12.5% | 18.8% | – | 0.67% | plus 92.3% |
| Median of 7 peers | – | −2.13% | 4,154 | 17.0 | 2.06 | 16.7% | 14.4% | 14.0% | 7.3% | 15.0% | 0.55% | 9.1% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 126 | 198 | 121 | 143 | 174 | |
| 117 | 186 | 102 | 126 | 141 | |
| 9.2 | 11.3 | 19.1 | 16.6 | 32.9 | |
| 7.3% | 5.7% | 15.7% | 11.6% | 18.9% | |
| 6.5 | 2 | 1.6 | 2 | 0.7 | |
| 4.2 | 4.5 | 6.5 | 5.2 | 5.5 | |
| 1.8 | 1.8 | 1.9 | 2.2 | 1.8 | |
| – | – | – | −0.2 | – | |
| 9.7 | 6.8 | 12.3 | 11 | 26.3 | |
| 26.5% | 26.9% | 32.2% | 24.2% | 30.2% | |
| 4 | 4 | 7 | 8.2 | 13.8 | |
| 6.66 | 4.64 | 7.75 | 7.78 | 17.08 |
Profit & loss
- Sales CAGR 3Y
- +18.8%
- ROE
- 32.8%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 350 | 289 | 463 | 588 | |
| – | minus 17.6% | +60.4% | +26.8% | |
| 333 | 272 | 428 | 531 | |
| 17.9 | 16.7 | 35.2 | 56.1 | |
| 5.1% | 5.8% | 7.6% | 9.5% | |
| −2.2 | −0.4 | 4.7 | 12.1 | |
| 7.3 | 8.8 | 14.6 | 20.4 | |
| 7.4 | 7.3 | 7.3 | 7.8 | |
| 0.1 | −0.1 | – | −0.2 | |
| 1.2 | 0.2 | 18 | 39.8 | |
| 35.7% | −54.0% | 25.9% | 27.7% | |
| −2.2 | −1.2 | 9.6 | 23.2 | |
| -1.06 | -1.11 | 8.96 | 21.60 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 10.7 | 10.7 | 10.7 | 10.7 | |
| 39.4 | 38.8 | 48.9 | 71.3 | |
| 123 | 158 | 190 | 246 | |
| 26.6 | 25.3 | 35.3 | 50.8 | |
| 200 | 233 | 285 | 378 | |
| 84.8 | 77.6 | 72.7 | 68.8 | |
| 1.1 | 1.1 | 0.1 | 0.1 | |
| 0.5 | 0.4 | 0.5 | 2 | |
| 1.4 | 0.8 | 0.8 | 15.5 | |
| 112 | 153 | 211 | 292 | |
| 200 | 233 | 285 | 378 |
Cash flow
| ₹ Cr | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| −22.9 | −20.1 | −18.9 | −18.5 | |
| −57.5 | −12.7 | −5.3 | 0.8 | |
| 80.6 | 33.8 | 23.8 | 17.8 | |
| 0.2 | 0.9 | −0.4 | 0.1 | |
| −57.9 | −14.5 | −5 | −0.4 | |
| −80.7 | −34.6 | −23.9 | −19 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
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