MPL Plastics

BSE: MPL · Packaging

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Snapshot

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Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

MPL Plastics Limited is an Indian manufacturer specialising in plastic household products, including thermoware, insulated water bottles, casseroles, and containers. The company focuses on maintaining its manufacturing and distribution presence within the domestic plasticware market.

Business Model

The company generates revenue through the manufacturing and marketing of plastic molded household goods. It operates primarily within the competitive domestic Indian market, leveraging its established brand history to maintain distribution channels.

Management Commentary

Management focuses on navigating a competitive landscape following corporate restructuring and brand transitions. The current strategy prioritises operational stability and maintaining a niche presence in the household consumer goods segment.

Growth Outlook

Future growth is contingent upon the company's ability to sustain its manufacturing capabilities and compete effectively in the domestic plasticware sector. The firm aims to leverage its legacy brand recognition to maintain its market position.

Key Risks

  • Market Competition. The domestic plasticware sector is highly competitive, with numerous organised and unorganised players exerting pressure on margins.
  • Raw Material Price Volatility. Fluctuations in the prices of plastic polymers, which are linked to crude oil prices, can significantly impact manufacturing costs.
  • Operational Scale. The company operates at a smaller scale than its historical peak, which may limit its ability to achieve economies of scale compared to larger competitors.

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Peers · Packaging

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
MPL PlasticsMPL
₹7 Cr-28.5%
TPL PlastechTPLPLASTEH
₹573 Cr19.0211.8825.9%10.9%19.0%25.3%-4.3%
Hitech Corp.HITECHCORP
₹572 Cr32.588.5020.1%11.7%6.3%11.9%+67.9%
Shree Rama Multi-Tech LimitedSHREERAMA
₹572 Cr23.5712.9320.9%17.1%15.4%19.4%-20.4%
B&B Triplewall Containers LimitedBBTCL
₹483 Cr3.636.6519.9%16.6%26.6%26.1%+17.1%
Cropster AgroCROPSTER
₹313 Cr2.3221.45105.9%7.1%19.3%20.4%-80.8%

As of Mar 2026

Financials