Innovative Tech Pack Ltd (523840)
🎯 Key Takeaways
- Innovative Tech Pack Ltd is a small-cap plastic packaging manufacturer operating in a mature, commoditized segment with minimal growth visibility. The company exhibits low profitability metrics (ROE 0.
- Revenue grew 1.1% QoQ to ₹37 in Q3FY21.
- ⚠️ 1) Persistent volatility in net profitability despite margin improvements raises concerns about business model resilience. 2) Extremely high P/E of 73
- Market Cap
- ₹32
- P/E Ratio
- 355.3
- P/B Ratio
- 0.68
- ROE
- 0.2%
- ROCE
- 14.4%
- Debt/Equity
- 0.44
- Promoter
- 74.4%
📖 The Story
Innovative Tech Pack Ltd is a small-cap plastic packaging manufacturer operating in a mature, commoditized segment with minimal growth visibility. The company exhibits low profitability metrics (ROE 0.2%, P/E 734) and has swung between net losses and marginal profits over recent quarters, suggesting operational instability. Management has not articulated a clear growth strategy, and the business appears to be in a cash-conserving phase amid sector headwinds.
📰 What's Happening
The company reported sequential improvement in operating performance from ₹1 crore in December 2020 to ₹3 crore in March 2021, with operating margins expanding from 3.1% to 7.9% over the same period. However, net profits remain volatile — posting a loss of ₹1 crore in March 2020 before returning to ₹1 crore profit in June 2020, followed by a break-even in September 2020 and a small profit in December 2020. These fluctuations reflect inconsistent demand or pricing pressure in the packaging sector. No major strategic announcements, capex plans, or M&A activity were disclosed in the latest filings.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 |
|---|---|---|---|---|
| Revenue | 36 | 30 | 36 | 37 |
| Operating Profit | 3 | 2 | 2 | 1 |
| OPM % | 7.9% | 7.9% | 5.2% | 3.1% |
| Net Profit | -1 | 1 | 0 | 0 |
| EPS | ₹-0.29 | ₹0.16 | ₹0.40 | ₹-0.25 |
Revenue has remained relatively flat around ₹30–37 crore over the last four quarters, with no clear upward trend despite margin improvements. Profitability is highly erratic, swinging from ₹1 crore loss to ₹1 crore profit within a single quarter, indicating sensitivity to volume or cost fluctuations. The company posted a net cash from operations of ₹37 crore in March 2020, but this was followed by net financing outflows of ₹23 crore, suggesting debt servicing or buybacks. The lack of sustained earnings growth despite margin gains implies pricing or volume pressures are offsetting operational efficiencies.
🔮 Management Outlook & What's Next
There is no explicit forward guidance or strategic outlook provided in the latest regulatory filings. Management commentary focuses on operational performance without projecting future revenue, margin, or capex expectations. The absence of guidance suggests either uncertainty in the business outlook or a lack of long-term planning visibility.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2019 | Mar 2020 | Mar 2020 | Mar 2021 |
|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 2 |
| Reserves | 43 | 45 | 44 | 46 |
| Borrowings | 34 | 21 | 30 | 26 |
| Total Liabilities | 117 | 123 | 112 | 119 |
| Fixed Assets | 69 | 62 | 67 | 59 |
| Investments | 3 | 4 | 2 | 4 |
| Total Assets | 117 | 123 | 112 | 119 |
The balance sheet shows stable equity of ₹2 crore over two years, with reserves growing modestly from ₹44 to ₹46 crore, indicating retained earnings are minimal. Borrowings have declined from ₹30 crore to ₹26 crore year-on-year, reflecting a deliberate deleveraging trend. Total assets have remained flat near ₹119 crore, suggesting no major capital expansion. The company appears to be prioritizing financial stability over growth investment, consistent with a conservative capital allocation strategy.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2020 |
|---|---|
| Operating | +37 |
| Investing | -12 |
| Financing | -23 |
| Net Cash Flow | +2 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 74.4% | 74.4% | 74.4% | 74.4% |
| FII | 0.0% | 0.0% | 0.0% | 0.0% |
| DII | 0.1% | 0.1% | 0.1% | 0.1% |
| Public | 23.8% | 23.9% | 23.8% | 23.9% |
| # Shareholders | 14,329 | 14,223 | 14,159 | 14,143 |
Promoter holding remains steady at 74.36% over the last five quarters, with no signs of dilution. Institutional ownership is negligible — FII holds 0% and DII just 0.06% — indicating limited investor interest or confidence. The shareholder base is highly concentrated with over 14,000 public shareholders, suggesting retail dominance and potential liquidity risks. No insider selling or significant stake reductions have been reported.
⚖️ Peer Comparison — Plastic products
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| SUPREMEIND | 44,023 | 42.6 | 22.1% | — | 0.00 |
| ASTRAL | 36,950 | 64.2 | 20.0% | — | 0.04 |
| SHAILY | 13,990 | 79.1 | 33.8% | — | 0.34 |
| FINPIPE | 9,385 | 15.2 | 12.7% | — | 0.07 |
| TIMETECHNO | 9,075 | 17.8 | 20.9% | — | 0.22 |
| KINGFA | 8,827 | 39.1 | 39.9% | — | 0.05 |
| SAFARI | 7,011 | 42.5 | 19.8% | — | 0.00 |
| RESPONIND | 4,504 | 44.5 | 7.5% | — | 0.12 |
| VIPIND | 4,171 | — | -43.7% | — | 1.42 |
| PRINCEPIPE | 2,820 | 27.1 | 8.0% | — | 0.17 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1) Persistent volatility in net profitability despite margin improvements raises concerns about business model resilience. 2) Extremely high P/E of 734 reflects market skepticism and lack of earnings visibility, making the stock vulnerable to sentiment shifts. 3) Minimal institutional interest and concentrated retail ownership could lead to sharp price swings on minor news. 4) Operating in a low-growth, price-competitive packaging segment with no announced innovation or diversification strategy exposes the company to margin compression.
📋 Recent Filings
- 🟡 Board Meeting2026-09-30Innovative Tech Pack Ltd held its 37th Annual General Meeting on 30 September 2026 at Plot No. 51, Roz-Ka-Meo, Industrial Area Sohna, Haryana. Shareho…
- 🟡 Board Meeting2026-09-30Innovative Tech Pack Ltd announced at its 37th Annual General Meeting on September 30, 2026, the appointment of M/s Neeraj Bajaj & Associates as secre…
- Announcement2026-09-17Innovative Tech Pack Ltd announced that its trading window will close on 1 October 2026 until 48 hours after the un-audited quarterly results for Sept…
- 🟡 Board Meeting2026-09-03Innovative Tech Pack Limited announced its 37th Annual General Meeting on September 30, 2026, at Plot No. 51, Roz-Ka-Meo Industrial Area, Sohna, Harya…
- 🔴 annual report2026-09-03Innovative Tech Pack Limited reported a profit of ₹186.74 lakhs for FY 2025-26, up from a loss of ₹1.81 lakhs in FY 2024-25, with revenue declining to…
- 🟡 Board Meeting2026-09-03Innovative Tech Pack Ltd announced the closure of its member register and share transfer books from September 24 to 30, 2026, to facilitate its Annual…
- 🟡 Board Meeting2026-09-03Innovative Tech Pack Ltd announced the closure of its Register of Members and Share Transfer Books from September 24 to 30, 2026, to facilitate its An…
- 🟡 Board Meeting2026-09-02Innovative Tech Pack Ltd announced board approvals for key governance actions including appointing Neeraj Bajaj & Associates as secretarial auditor fo…
- 🟡 Board Meeting2026-09-02Innovative Tech Pack Ltd announced on September 2, 2026, that its board approved the appointment of Neeraj Bajaj & Associates as Secretarial Auditor f…
- 🟡 Board Meeting2026-09-02Innovative Tech Pack Ltd announced the appointment of Neeraj Bajaj & Associates as its secretarial auditor for five consecutive financial years from F…
🧠 Analyst's Read
The company remains in a stabilization phase with no clear catalyst for earnings growth. Investors should monitor quarterly margin trends and any shift in capital allocation strategy, but the lack of guidance and structural headwinds in the packaging sector limit upside potential. Watch for signs of demand recovery or cost control measures that could restore consistent profitability.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-30.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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