About Solve Plastic Products Ltd
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Solve Plastic Products Ltd is a public limited company based in Kollam, Kerala, India. It operates in the pipe and tubes segment of the manufacturing sector. It was incorporated on 04 October 1994 and has been in existence for over 32 years.
The company is registered with the Registrar of Companies (ROC), Ernakulam, under CIN L25209KL1994PLC008231. Its GSTIN is 32AACCS7084B1ZN (Kerala). The company holds 3 GST registrations, all of them active. It is a listed company.
The company has an authorised share capital of ₹7 Cr and a paid-up capital of ₹4.37 Cr. It is led by directors including Sudheer Kumar Balakrishnan Nair (Managing Director) and Susil Balakrishnan Nair (Whole-Time Director).
Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Door No Xiii/690/Abctholicode Punalur, Kollam, Kerala, India – 691333.
As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹45.58 Cr, a growth of 9.9% compared to the previous year. For the same year it recorded a net profit of ₹43 Lakh (net margin 0.9%) and EBITDA of ₹2.06 Cr (EBITDA margin 4.5%). The net worth stands at ₹10.42 Cr (up 4.4% YoY). Total assets are valued at ₹22.54 Cr (up 8.9% YoY).
The company has about 153 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Balco Pipes. As per MCA filings, the company has open charges of ₹16.14 Cr and satisfied charges of ₹14.45 Cr on record. The company has 1 deal on record (1 ipo); the latest was in August 2024. Its 10 peer companies in the Manufacturing industry (Pipes) are compared by revenue, 5 larger and 5 smaller; the largest is Jyoti Vinyl Limited with revenue of ₹42.42 Cr. The company has 3 MSME Form 1 returns on record between 2023 and 2024, listing 4 overdue payments to 3 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website balcopipes.com.
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- Registered AddressDoor No Xiii/690/Abctholicode Punalur, Kollam, Kerala, India – 691333
- IndustryManufacturing, Pipe & Tubes
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Business Activity of Solve Plastic Products Ltd
The main business activity of Solve Plastic Products is manufacturing. In detail, this covers plastic products, non-metallic mineral products, rubber products, fabricated metal products.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C8 | Plastic products, non-metallic mineral products, rubber products, fabricated metal products | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Solve Plastic Products Ltd FY 2025-26 filings available
Solve Plastic Products Ltd reported revenue of ₹45.58 Cr (up 9.9% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | 45.58 | 41.46 | 46.19 | 60.77 | 55.07 | 41.72 |
| Revenue growth | +9.9% | -10.2% | -24.0% | +10.4% | +32.0% | - |
| EBITDA | 2.06 | (3.96) | 2.76 | 1.97 | 1.10 | 1.23 |
| EBITDA margin | +4.5% | -9.6% | +6.0% | +3.2% | +2.0% | +3.0% |
| Profit before tax | 0.59 | (5.52) | 1.45 | 1.24 | (0.52) | (0.96) |
| Net profit | 0.43 | (4.79) | 1.43 | 1.16 | (0.40) | (0.17) |
| Net profit margin | +0.9% | -11.6% | +3.1% | +1.9% | -0.7% | -0.4% |
| EPS (₹) | 1.00 | (10.96) | 4.65 | 3.96 | (1.34) | (0.51) |
| Balance sheet | ||||||
| Total assets | 22.54 | 20.70 | 17.54 | 14.85 | 13.66 | 17.05 |
| Net worth | 10.42 | 9.98 | 4.39 | 1.93 | 0.73 | 1.14 |
| Total debt | 11.33 | 9.86 | 12.41 | 12.22 | 12.30 | 15.44 |
| Cash & bank | 2.99 | 2.97 | 0.01 | 0.01 | 0.02 | 0.02 |
| Net working capital | 11.47 | 12.18 | 9.77 | 8.15 | 6.84 | 10.18 |
| Cash flow | ||||||
| Cash from operations | 3.23 | (3.08) | 1.86 | 2.14 | 5.30 | 2.36 |
| Cash from investing | (3.66) | (0.84) | (1.75) | (0.68) | (0.73) | (0.11) |
| Cash from financing | 0.45 | 6.88 | (0.11) | (1.46) | (4.57) | (2.25) |
| Particulars | Mar 2024 | Dec 2023 |
|---|---|---|
| Revenue | 11.99 | 10.62 |
| Other income | 0.25 | 0.23 |
| Total expenses | 11.27 | 9.51 |
| EBITDA | 0.72 | 1.11 |
| EBITDA margin | +6.0% | +10.5% |
| Depreciation | 0.21 | 0.20 |
| Interest | 0.43 | 0.31 |
| Profit before tax | 0.33 | 0.83 |
| Tax | (0.03) | 0.24 |
Financial Statements
| Particulars | Mar 2024 | Dec 2023 |
|---|---|---|
| Revenue | 11.99 | 10.62 |
| Other income | 0.25 | 0.23 |
| Total expenses | 11.27 | 9.51 |
| EBITDA | 0.72 | 1.11 |
| EBITDA margin | +6.0% | +10.5% |
| Depreciation | 0.21 | 0.20 |
| Interest | 0.43 | 0.31 |
| Profit before tax | 0.33 | 0.83 |
| Tax | (0.03) | 0.24 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Revenue | 45.58 | 41.46 | 46.19 | 60.77 | 55.07 | 41.72 |
| Revenue growth | +9.9% | -10.2% | -24.0% | +10.4% | +32.0% | - |
| Other income | 0.54 | 0.38 | 0.97 | 1.48 | 0.71 | 0.66 |
| Total expenses | 43.52 | 45.42 | 43.43 | 58.80 | 53.97 | 40.49 |
| Employee cost | 0.00 | 5.48 | 4.93 | 4.47 | 3.62 | 2.91 |
| EBITDA | 2.06 | (3.96) | 2.76 | 1.97 | 1.10 | 1.23 |
| EBITDA margin | +4.5% | -9.6% | +6.0% | +3.2% | +2.0% | +3.0% |
| Depreciation | 0.96 | 0.95 | 0.77 | 0.83 | 0.90 | 1.18 |
| Interest | 1.05 | 0.99 | 1.51 | 1.38 | 1.43 | 1.67 |
| Profit before tax | 0.59 | (5.52) | 1.45 | 1.24 | (0.52) | (0.96) |
| Tax | 0.16 | (0.73) | 0.02 | 0.03 | (0.12) | (0.81) |
| Net profit | 0.43 | (4.79) | 1.43 | 1.16 | (0.40) | (0.17) |
| Net profit margin | +0.9% | -11.6% | +3.1% | +1.9% | -0.7% | -0.4% |
| EPS (₹) | 1.00 | (10.96) | 4.65 | 3.96 | (1.34) | (0.51) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Equity & liabilities | ||||||
| Share capital | 4.37 | 4.37 | 3.07 | 3.04 | 3.04 | 3.04 |
| Reserves & surplus | 6.05 | 5.61 | 1.32 | (1.11) | (2.31) | (1.90) |
| Shareholders' funds (net worth) | 10.42 | 9.98 | 4.39 | 1.93 | 0.73 | 1.14 |
| Secured loans | 11.02 | 9.86 | 9.30 | 12.22 | 12.30 | 15.44 |
| Unsecured loans | 0.31 | 0.00 | 3.11 | 0.00 | 0.00 | 0.00 |
| Total debt | 11.33 | 9.86 | 12.41 | 12.22 | 12.30 | 15.44 |
| Total liabilities | 22.54 | 20.70 | 17.54 | 14.85 | 13.66 | 17.05 |
| Assets | ||||||
| Gross block | 5.73 | 5.96 | 5.26 | 5.14 | 5.28 | 5.52 |
| Net block | 5.73 | 5.96 | 5.26 | 5.14 | 5.28 | 5.52 |
| Capital work in progress | 3.08 | 0.11 | 0.89 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventories | 8.51 | 6.03 | 7.62 | 6.69 | 6.22 | 6.96 |
| Sundry debtors | 4.35 | 4.42 | 5.05 | 4.12 | 4.48 | 5.02 |
| Cash & bank balances | 2.99 | 2.97 | 0.01 | 0.01 | 0.02 | 0.02 |
| Loans & advances | 2.53 | 2.39 | 1.66 | 1.22 | 0.69 | 2.47 |
| Total current assets | 18.38 | 15.81 | 14.34 | 12.04 | 11.41 | 14.47 |
| Total current liabilities | 6.91 | 3.63 | 4.57 | 3.89 | 4.57 | 4.29 |
| Net working capital | 11.47 | 12.18 | 9.77 | 8.15 | 6.84 | 10.18 |
| Total assets | 22.54 | 20.70 | 17.54 | 14.85 | 13.66 | 17.05 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Opening cash | 2.97 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 |
| Net cash from operating activities | 3.23 | (3.08) | 1.86 | 2.14 | 5.30 | 2.36 |
| Net cash from investing activities | (3.66) | (0.84) | (1.75) | (0.68) | (0.73) | (0.11) |
| Net cash from financing activities | 0.45 | 6.88 | (0.11) | (1.46) | (4.57) | (2.25) |
| Net change in cash | 0.02 | 2.96 | 0.00 | (0.01) | 0.00 | 0.00 |
| Closing cash | 2.99 | 2.97 | 0.01 | 0.01 | 0.02 | 0.02 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Growth | ||||||
| Sales growth | +9.9% | -10.2% | -24.0% | +10.4% | +32.0% | - |
| EBITDA growth | +152.0% | -243.5% | +40.1% | +79.1% | -10.6% | - |
| PBT growth | +9998.0% | - | +16.9% | +9998.0% | +45.8% | +9997.0% |
| Net income growth | +109.0% | -435.0% | +23.3% | +390.0% | -135.3% | - |
| Revenue CAGR (3Y) | -9.1% | -9.0% | +3.5% | - | - | - |
| EBITDA CAGR (3Y) | +1.5% | - | +30.9% | - | - | - |
| Profitability & leverage | ||||||
| Net income margin | +0.9% | -11.6% | +3.1% | +2.0% | -0.7% | -0.4% |
| Return on capital employed | - | -23.7% | +17.4% | +17.4% | 0.0% | 0.0% |
| Return on net worth | - | -66.7% | +36.0% | +56.7% | 0.0% | 0.0% |
| Debt / equity | - | 1.55 | 3.90 | 9.22 | 14.84 | 13.55 |
| Long-term debt / equity | - | 0.42 | 0.95 | 2.41 | 4.78 | 4.77 |
| Interest cover | 95.45 | -20.16 | 75.88 | 121.05 | 715.00 | 3,340.00 |
| Efficiency & per share | ||||||
| Fixed asset turnover | - | 7.39 | 8.88 | 11.66 | 10.20 | 7.56 |
| Inventory turnover | - | 6.07 | 6.46 | 9.41 | 8.36 | 5.99 |
| Debtors turnover | - | 8.76 | 10.07 | 14.13 | 11.59 | 8.31 |
| EPS (₹) | 1.00 | (10.96) | 4.65 | 3.96 | (1.34) | (0.51) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 0.00 | 22.84 | 14.31 | 6.34 | 2.38 | 3.72 |
Peer Comparison of Solve Plastic Products Ltd
Solve Plastic Products Ltd is compared with the companies closest to it by revenue in the Manufacturing industry (Pipes). Net profit, margin and employee counts of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Solve Plastic Products Ltd this company | ₹45.58 Cr (FY 2026) | •••• | •••• | 9.9% | •••• | Kollam, Kerala, India |
| Jyoti Vinyl Limited | ₹42.42 Cr (FY 2024) | •••• | •••• | 22.0% | •••• | Por, Gujarat, India |
| Chaika Polymers Private Limited | ₹42.4 Cr (FY 2024) | •••• | •••• | 60.0% | •••• | Ranchi, Jharkhand, India |
| J V Seamless India Private Limited | ₹42.36 Cr (FY 2024) | •••• | •••• | -2.0% | •••• | Mumbai, Maharashtra, India |
| Seminox Pipes and Tubes Private Limited | ₹42.16 Cr (FY 2024) | •••• | •••• | 471.0% | •••• | Mumbai, Maharashtra, India |
| Shiva Prints Pvt Ltd | ₹41.97 Cr (FY 2025) | •••• | •••• | -62.0% | •••• | Gaya, Bihar, India |
| Premier Polymers & Pipes Private Limited | ₹41.8 Cr (FY 2025) | •••• | •••• | 5.0% | •••• | Tiruppur, Tamil Nadu, India |
| Sas Polymers Private Limited | ₹41.73 Cr (FY 2025) | •••• | •••• | -58.0% | •••• | Pune, Maharashtra, India |
| Simplex Extruder Pvt. Ltd. | ₹41.68 Cr (FY 2025) | •••• | •••• | -20.0% | •••• | Dist-Hooghly, West Bengal, India |
| Anubhav Tubes & Conductors Private Limited | ₹41.62 Cr (FY 2025) | •••• | •••• | 38.0% | •••• | Kanpur, Uttar Pradesh, India |
| S.G.G. Cement Product Private Limited | ₹41.44 Cr (FY 2025) | •••• | •••• | -24.0% | •••• | Tonk, Rajasthan, India |
Peers are the five companies nearest above and the five nearest below Solve Plastic Products by revenue in the Manufacturing industry (Pipes), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.
Board of Directors of Solve Plastic Products Ltd
Solve Plastic Products has 6 current directors and 9 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Narayana Kurup Asokan Also directs: T-Sanct Technologies Private Limited, Zenplus Private Limited | Director | 06 Jan 2024 | 2 Years 9 Months | Current |
| Deepthi Santhakumary Also directs: Vivarta Systems Private Limited | Director | 06 Jan 2024 | 2 Years 9 Months | Current |
| Sudheer Kumar Balakrishnan Nair Also directs: G B N Associates LLP, Shri Govinda Agri Business Private Limited, Heftybuzz Ventures Private Limited and 2 more | Managing Director | 04 Oct 1994 | 32 Years 0 Months | Current |
| Susil Balakrishnan Nair Also directs: Balco Nidhi Limited | Whole-Time Director | 04 Oct 1994 | 32 Years 0 Months | Current |
| Suresh K Pillai | Director | 12 Mar 2024 | 2 Years 6 Months | Current |
| Balakrishnan Nair Also directs: Balco Nidhi Limited | Director | 15 Feb 2006 | 20 Years 7 Months | Current |
Charges & Borrowings of Solve Plastic Products Ltd
| Date | Lender | Amount | Status |
|---|---|---|---|
| 08 Jun 2026 | State Bank of India | ₹1.55 Cr | Open |
| 06 May 2026 | State Bank of India | ₹2.5 Cr | Open |
| 13 May 2025 | The South Indian Bank Limited | ₹20.61 Lakh | Open |
| 27 Dec 2023 | Axis Bank Limited | ₹14.6 Lakh | Open |
| 04 Jun 2020 | State Bank of India | ₹67.54 Lakh | Open |
Total charge records: 25 View all charges
Deals & Funding of Solve Plastic Products Ltd
Solve Plastic Products Ltd has 1 deal on record (1 ipo); the latest was in August 2024.
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2024 | IPO | ₹11.85 Cr | Investors: Public Market Investors |
Full deal history
All 1 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
MSME Payment Delays by Solve Plastic Products Ltd
Solve Plastic Products Ltd has 3 MSME Form 1 returns on record between 2023 and 2024, listing 4 overdue payments to 3 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (3 of 3)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Mathruka Pracharanalayam Ltd | •••• | •••• | •••• |
| Hindustan Prakashan Trust | •••• | •••• | •••• |
| Associated Rubber Chemicals Kochi Private Limited | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 3 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Associated Brands with Solve Plastic Products Ltd
Solve Plastic Products operates one associated brand: Balco Pipes. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Manufacturer of PVC and uPVC products | balcopipes.com |
Employees and EPFO Compliance at Solve Plastic Products Ltd
Employment history and EPFO contributions of people linked to Solve Plastic Products.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
CIN History of Solve Plastic Products Ltd
Solve Plastic Products has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L25209KL1994PLC008231, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L25209KL1994PLC008231 | Current |
| U25209KL1994PLC008231 | Previous |
| U25209KL1994PTC008231 | Previous |
Recent Activity on Solve Plastic Products Ltd
Solve Plastic Products Ltd has 15 board changes on record since 1994: 6 appointments and 9 cessations. The latest: Aravind Sudheer Kumar ceased to be Director on 27 Aug 2025.
59 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Solve Plastic Products Ltd
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Solve Plastic Products Ltd
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Solve Plastic Products Ltd
Solve Plastic Products has 3 GST registrations: 3 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 32AACCS7084B1ZN | Kerala | Active | 01 Jul 2017 |
| 32AACCS7084B2ZM | Kerala | Active | 21 May 2025 |
| 33AACCS7084B1ZL | Tamil Nadu | Active | 01 Jul 2017 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Solve Plastic Products Ltd
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Solve Plastic Products Ltd
Solve Plastic Products is an active public limited company based in Kollam, Kerala, India. The company works in pipe and tubes, within the manufacturing industry. It was incorporated on 04 October 1994 (32+ years old) and is registered under CIN L25209KL1994PLC008231.
Solve Plastic Products reported revenue of ₹45.58 Cr for FY 2025-26 (up 9.9% YoY) based on standalone financials.
Solve Plastic Products has 6 current directors:
- Sudheer Kumar Balakrishnan Nair - Managing Director
- Susil Balakrishnan Nair - Whole-Time Director
- Narayana Kurup Asokan - Director
- Deepthi Santhakumary - Director
- Suresh K Pillai - Director
- Balakrishnan Nair - Director
The GSTIN of Solve Plastic Products is 32AACCS7084B1ZN, registered in Kerala. The company has 3 GST registrations in all, of which 3 are active. Other active GSTINs include 32AACCS7084B2ZM (Kerala), 33AACCS7084B1ZL (Tamil Nadu).
The CIN (Corporate Identification Number) of Solve Plastic Products is L25209KL1994PLC008231. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes, Solve Plastic Products is a listed company.
Solve Plastic Products was incorporated on 04 October 1994, making it 32+ years old. It is registered with the Registrar of Companies, Ernakulam.
Solve Plastic Products has 1 deal on record (1 ipo); the latest was in August 2024.
The peers of Solve Plastic Products by revenue are Jyoti Vinyl Limited, Chaika Polymers Private Limited, J V Seamless India Private Limited, Seminox Pipes and Tubes Private Limited, Shiva Prints Pvt Ltd and 5 more, all in the Manufacturing industry (Pipes).
Aravind Sudheer Kumar ceased to be Director on 27 Aug 2025. Biju Divakaran Nair ceased to be Director on 27 Aug 2025. Dineshchandran Sarojiniamma Ramachandran Nair ceased to be Director on 27 Aug 2025. Solve Plastic Products has 15 board changes on record in total.
Solve Plastic Products has 3 MSME Form 1 returns on record between 2023 and 2024, listing 4 overdue payments to 3 micro and small suppliers. The latest return was filed on 30 Apr 2024.
Solve Plastic Products can be reached through the website balcopipes.com. Its registered office is in Kollam, Kerala, India.