Plastic Products - Industrial industry
77 companies · ₹1.6 L cr · 8 with AI deep dives · Q1FY27 report
PVC price crash empties the channel and lifts mix margins - pipe volumes need a steep H2 to rescue guidance
- Revenue YoY
- +11.8%
- EBITDA margin
- 14.8%
- +210bps YoY
- Price, 1 year
- +5.9%
- 53% of names up
- P/E vs own 5y
- +6.7%
- 28.9x now
Exhibit 1The quarter in numbers
constant panel of 14 companies above ₹500 cr- Jun 26
- 9,982 cr
- Mar 26
- 11,760 cr
- QoQ
- -15.1%
- Jun 25
- 8,930 cr
- YoY
- +11.8%
- Peak
- 11,760 cr
- vs peak
- -15.1%
- Jun 26
- 14.8%
- Mar 26
- 17.4%
- QoQ
- -260bps
- Jun 25
- 12.7%
- YoY
- +210bps
- Peak
- 17.4%
- vs peak
- -260bps
Breadth: 93% of 15 companies grew revenue year on year (was 93% a quarter earlier) and 67% expanded margin (was 71%).
Exhibit 2What it costs
18.48x - 43.5x across the panel todayThe median name trades at 28.9x, +6.7% against this industry's own 5-year median of 27.1x, and -18.0% against its own peak of 35.2x.
Exhibit 3Structure
₹1.6 L crSupreme Industries Ltd is 28.2% of this industry by market cap. The top 5 are 79% and the top 10 are 94.6%.
Exhibit 4Screen
P/E below the sub-industry median of 28.86x, 5y ROCE above its median of 13.05%, and at least 2 growth triggers stated on the latest earnings call.
Which names clear this screen is premium
The screen runs on stated growth triggers from the latest earnings calls - the same guidance data the stock screener reserves for premium. Premium names every company in this industry that is cheap against its own median and has the triggers behind it.
See plans →Exhibit 5Coverage (25 of 77)
Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.
- Mcap
- ₹15,073 cr
- P/E
- 85.2x
- EV/EBITDA
- 53.0x
- ROCE
- 31.7%
- Margin
- 29.2%
- Rev YoY
- +13.8%
- Mcap
- ₹8,375 cr
- P/E
- 37.1x
- EV/EBITDA
- -
- ROCE
- 17.9%
- Margin
- 14.0%
- Rev YoY
- +49.1%
- Mcap
- ₹1,010 cr
- P/E
- 28.8x
- EV/EBITDA
- 19.6x
- ROCE
- 33.8%
- Margin
- 27.2%
- Rev YoY
- +32.5%
- Mcap
- ₹312 cr
- P/E
- 172.6x
- EV/EBITDA
- 25.7x
- ROCE
- 11.1%
- Margin
- 7.9%
- Rev YoY
- +3.0%
- Mcap
- ₹194 cr
- P/E
- 24.3x
- EV/EBITDA
- -
- ROCE
- 5.6%
- Margin
- 38.3%
- Rev YoY
- -5.9%
Exhibit 6What managements said
from this industry's latest earnings calls · as of 2026-06-30A sharp intra-quarter PVC resin price correction caused channel partners across the pipe value chain to aggressively destock in April. All four PVC pipe manufacturers reported…
- FINPIPE (Q1 FY27): “Prices saw a sharp intra-quarter correction, which triggered a channel destocking and…”
Exhibit 7Outlook
The outlook and what resolves next quarter
Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.
Create a free account →AppendixThe other 52 companies
1-30- Mcap
- ₹152 cr
- P/E
- 35.4x
- EV/EBITDA
- 17.1x
- ROCE
- 22.0%
- Margin
- 8.6%
- Rev YoY
- -0.2%
- Mcap
- ₹133 cr
- P/E
- 14.0x
- EV/EBITDA
- 7.1x
- ROCE
- 21.5%
- Margin
- 7.3%
- Rev YoY
- +28.5%
- Mcap
- ₹85 cr
- P/E
- 49.7x
- EV/EBITDA
- 37.6x
- ROCE
- 24.8%
- Margin
- 16.8%
- Rev YoY
- +19.0%
- Mcap
- ₹37 cr
- P/E
- 11.3x
- EV/EBITDA
- 5.2x
- ROCE
- 14.5%
- Margin
- 10.9%
- Rev YoY
- -29.4%
22 more companies
This industry has 52 constituents beyond the covered names. The first page is free; premium opens the rest.
See plans →