Deep Polymers Ltd (541778)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Deep Polymers' revenue was ₹30.1 Cr (+18.4% year on year, +13.3% on the previous quarter), and net profit ₹1.9 Cr (+32.7% year on year); the operating margin was 13.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹30.1 | +18.4% | +13.3% |
| Operating profit | ₹4.0 | +41.0% | -12.3% |
| Net profit | ₹1.9 | +32.7% | -30.3% |
| EPS (₹) | 0.80 | +33.3% | -29.8% |
| Operating margin | 13.2% | — | — |
📢 Recent Corporate Announcements
Deep Polymers' board has approved the issuance of 32,00,000 convertible equity warrants on a preferential basis to 14 investors across promoter and non-promoter groups. Each warrant has a face value of ₹10 and carries the right to convert into one equity share within 18 months. Promoters are proposed to receive 12,00,000 warrants, while 20,00,000 warrants will go to non-promoter investors. Final issue price and total fundraising amount will be determined per SEBI ICDR pricing guidelines, subject to shareholder approval.
- Board approved issuance of 32,00,000 Equity Warrants of face value ₹10 each
- Conversion window set for up to 18 months from allotment date into 1 equity share per warrant
- Allocated across 14 investors: 12,00,000 warrants to promoter category and 20,00,000 to non-promoter category
- Final issue price to be determined pursuant to SEBI ICDR Chapter V pricing formula
Deep Polymers Limited has scheduled a Board of Directors meeting on October 10, 2026, to consider and approve a proposal for issuing equity shares and/or equity warrants via preferential allotment. The company currently has a market capitalization of approximately Rs 106 Cr and annual TTM revenue of Rs 108 Cr. Details regarding the quantum of funds, issue price, and proposed allottees were not disclosed in the preliminary meeting intimation. The preferential allotment remains subject to board approval, shareholder consent, and statutory clearances.
- Board meeting scheduled for Saturday, October 10, 2026
- Meeting agenda includes considering issuance of equity shares and/or equity warrants
- Proposed mode of issuance is via preferential allotment under SEBI ICDR Regulations
- Current company market capitalization stands at Rs 106 Cr with net worth of Rs 105 Cr
Deep Polymers reported an 18.4% YoY revenue growth to ₹30.08 Cr for Q1 FY27, with reported PAT rising 32% to ₹1.91 Cr. However, the statutory auditor issued a modified opinion regarding ₹3.08 Cr in standalone trade receivables under legal recovery, stating that a ₹1.58 Cr provision for doubtful debts should have been made. If adjusted for this qualification, the quarterly PAT would drop significantly to just ₹0.33 Cr. Furthermore, the auditor noted non-compliance with Ind-AS 21 regarding the restatement of foreign currency items, which further impacts the reliability of the reported profit figures.
- Revenue from operations increased 18.4% YoY to ₹30.08 Cr from ₹25.40 Cr in the previous year's quarter.
- Reported PAT of ₹1.91 Cr is potentially overstated by ₹1.58 Cr due to lack of provision for doubtful debts.
- Adjusted Net Profit after accounting for audit qualifications stands at only ₹32.87 Lakhs (₹0.33 Cr).
- Consolidated trade receivables under legal recovery total ₹9.08 Cr, a significant amount relative to the ₹86 Cr market cap.
- The Rakanpur segment remains the primary revenue driver, contributing ₹23.68 Cr to the total turnover.
Deep Polymers reported a standalone revenue of ₹30.08 Cr for Q1 FY27, an 18.4% increase from ₹25.40 Cr in the same quarter last year. While reported Net Profit rose 32.6% YoY to ₹1.91 Cr, the statutory auditor issued a modified opinion regarding ₹9.08 Cr in trade receivables under legal recovery. The auditor states that a failure to provide ₹1.58 Cr for doubtful debts has resulted in an overstatement of profit. If adjusted for this qualification, the quarterly net profit would drop significantly to ₹0.33 Cr.
- Revenue from operations increased 18.4% YoY to ₹30.08 Cr for the quarter ended June 30, 2026.
- Statutory auditor flagged a ₹1.58 Cr shortfall in provisions for doubtful debts.
- Adjusted Net Profit would be ₹0.33 Cr instead of the reported ₹1.91 Cr if audit qualifications were applied.
- Trade receivables totaling ₹9.08 Cr are currently under legal recovery proceedings.
- The Rakanpur segment remains the primary driver, contributing ₹23.68 Cr to total revenue.
Deep Polymers Ltd has scheduled a board meeting on August 12, 2026, to consider and approve the unaudited financial results for the quarter ended June 30, 2026. The company currently has a market capitalization of Rs 86 Cr and reported a TTM revenue of Rs 101 Cr. Investors will be looking for performance consistency following the March 2026 quarter, which saw a net profit of Rs 2.76 Cr on revenue of Rs 26.55 Cr. The stock is currently trading at a P/E of 13.5, which is relatively low for the specialty chemicals sector.
- Board meeting scheduled for August 12, 2026, to approve Q1 FY27 results.
- Results cover the three-month period ended June 30, 2026.
- Company reported TTM revenue of Rs 101 Cr and TTM PAT of Rs 6 Cr.
- Promoter holding has shown a slight upward trend, reaching 65.85% in March 2026 from 65.26% in June 2025.
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