GLOBAL ECONOMIC OVERVIEW
The global plastic injection moulding machinery industry is experiencing steady growth in F.Y. 2024 25, supported by rising demand across sectors such as automotive, healthcare, packaging, and electronics. Asia-Pacific remains the leading market, driven by rapid industrialization and expanding manufacturing bases, while North America and Europe show consistent growth backed by automation and environmental regulations. Emerging markets in Latin America, Africa, and the Middle East are also contributing to the industrys expansion as manufacturing infrastructure develops.
Global GDP growth in F.Y. 2024 25 remained moderate, at approximately 3.0%, as per IMF estimates. While inflationary pressures eased in most economies, policy uncertainty, trade tensions, and geopolitical conflicts continued to pose risks to business sentiment and investment cycles. The transition to cleaner energy, digital transformation, and ongoing supply chain realignments remained major macro themes.
Technological innovation is playing a central role, with increased adoption of energy-efficient, all-electric machines and the integration of Industry 4.0 features such as IoT, real-time monitoring, and smart automation. Additionally, there is a growing shift toward sustainable manufacturing, with greater use of recycled and bio-based materials in response to environmental concerns.
Despite the positive outlook, the industry faces challenges including high capital costs, raw material price fluctuations, and evolving regulatory frameworks around plastics and emissions.
For capital equipment sectors like PML, global economic uncertainty caused some deferment of capital expenditure decisions by clients, although demand remained resilient in emerging markets and sectors like healthcare, consumer durables, and infrastructure-linked industries.
INDIAN ECONOMIC OVERVIEW
India remains one of the fastest-growing major economies, backed by strong domestic demand, structural reforms, and policy initiatives supporting industrial and manufacturing sectors. The governments continued emphasis on programs such as “Make in India”, PLI (Production Linked Incentive) schemes, and Atmanirbhar Bharat has enhanced manufacturing competitiveness and attracted both domestic and foreign investment.
The Union Budget and recent policy moves have prioritized capital expenditure, infrastructure development, and ease of doing business key drivers of industrial equipment demand. Sectors such as automotive, FMCG, healthcare, electronics, and packaging are expanding rapidly, all of which are major end-users of plastic injection moulded products and machinery.
Additionally, Indias robust SME ecosystem, rising middle-class consumption, and shift towards automation and digital manufacturing are accelerating demand for precision, energy-efficient, and technologically advanced machinery. Urbanization, e-commerce penetration, and rising healthcare awareness are further boosting the plastics and packaging industries. Indias GDP grew at an estimated 6.8% in F.Y. 2024 25, making it one of the fastest-growing major economies globally. Key drivers included strong manufacturing output, recovery in consumption, continued infrastructure spending, and improving private investments.
This positive economic climate supported steady demand for injection moulding machines from automotive OEMs, FMCG manufacturers, consumer electronics brands, and packaging firms. Growing awareness and adoption of energy-efficient, digitally integrated, and sustainable machinery also contributed to demand traction.
India, being a cost-competitive and rapidly industrializing economy, remains a key manufacturing hub. Overall, the Indian economic environment offers a favorable medium-to long-term outlook for the injection moulding machinery industry, driven by structural demand, policy support, and growing focus on technology-driven manufacturing.
INDUSTRY STRUCTURE AND DEVELOPMENTS:
The Indian plastic processing machinery industry plays a vital role in supporting the growing demand for plastics in sectors such as automotive, packaging, healthcare, FMCG, infrastructure, and agriculture. With the governments push for ‘Make in India, import substitution, and an expanding middle-class population, the plastic processing sector continues to grow steadily.
Injection and blow moulding technologies are at the forefront of this transformation, enabling the efficient and scalable production of high-precision plastic products. Demand for automation, energy-efficient machines, and smart manufacturing solutions is rising, prompting machine manufacturers to focus on innovation and quality.
Despite global supply chain challenges and input cost volatility, the domestic plastic machinery industry has shown resilience. Polymechplast Machines Limited (PML) operates in this evolving environment by offering customized and technologically advanced solutions to meet diverse customer needs.
Manufacturer like PML is enhancing their offerings with automation and robotics, enabling higher throughput, precision, and reduced reliance on manual labor. Integrated Industry 4.0 capabilities such as IoT-enabled monitoring, predictive maintenance, and AI-enhanced control systems are increasingly common. Specialized machines, including multi-material and micro-injection systems, address more complex applications.
INDIAN PLASTICS INDUSTRY
Indias plastics industry is one of the most vibrant and rapidly expanding sectors of the countrys economy. It plays a pivotal role in supporting key industries such as automotive, packaging, consumer durables, electronics, construction, agriculture, and healthcare. The industry is well-integrated, with a wide base of manufacturers, processors, and suppliers, and has become a significant contributor to employment, exports, and industrial output.
The demand for plastics in India is being driven by:
Urbanization and rising consumer demand, leading to increased use of plastic components in FMCG, retail, and e-commerce. Automotive sector growth, particularly with the shift toward lightweight, fuel-efficient vehicles that use more plastic parts. Healthcare and medical device expansion, requiring high-precision plastic components such as syringes, vials, and diagnostic equipment. Sustainable and innovative packaging, with increased demand for food-safe and recyclable plastic materials. Government infrastructure projects, increasing use of plastic piping, insulation, and components.
COMPANYS OVERVIEW
Polymechplast Machines Limited (PML) - A Promise To Commitment & Growing Satisfaction, is a leading Manufacturer and Exporter of Thermoplastic Injection Moulding and Blow Moulding Machines. Established in 1978 by a group of technocrats which has over 45 years of expertise in manufacturing ‘GOLDCOIN brand plastic processing machinery.
The Company operates as the Pioneer of two- and three-color marble effect Injection Moulding Machines in India. PML strives to find better solutions to customer needs. Continuously working towards offering the best in terms of innovation, quality machines & most important is at affordable cost. PML adheres to the business philosophy of Total Quality Products with productivity to give customer satisfaction for their constant progress.
With 10,000+ "GOLDCOIN" machines in operation worldwide, many running 24/7, PML remains dedicated to its corporate motto of “ TOTAL CUSTOMER SATISFACTION”.
OUTLOOK
The outlook for the Indian plastics industry remains highly positive, with significant room for import substitution, value-added exports, and technology upgrades. The injection moulding machinery segment, in particular, is well-positioned to benefit from rising demand, growing industrialization, and the push toward self-reliant manufacturing.
As manufacturers seek to increase efficiency, reduce costs, and improve quality, demand for advanced injection moulding machinery particularly electric and hybrid models is expected to grow steadily across India.
The Company remains cautiously optimistic about its performance in F.Y. 2024 25, supported by strong sectoral demand and an evolving need for efficient, technology-driven solutions in plastic processing.
In the coming year, our strategic focus will include:
Expanding into new domestic and international markets, leveraging our growing distribution network and product adaptability. Enhancing R&D capabilities to develop high-precision, energy-efficient, and Industry 4.0-enabled machines that cater to the evolving needs of end-user industries.
Launching next-generation smart injection moulding machines, with improved automation, digital monitoring, and sustainable design. Scaling up after-sales service infrastructure, including remote diagnostics and faster spares support, to enhance customer experience and machine uptime.
With a healthy order book, continued emphasis on cost optimization, and the ability to respond to dynamic customer requirements, the Company is well-positioned to achieve sustainable and profitable growth in F.Y. 2024 25. However, we remain mindful of macroeconomic uncertainties, raw material price volatility, and geopolitical risks that may influence market sentiment.
STRATEGIC GROWTH INITIATIVES AND FUTURE OUTLOOK AT PML
The plastic processing machinery industry-particularly injection and blow moulding segments is undergoing a significant transformation. To stay competitive and align with market needs, PML is pursuing several strategic initiatives:
1. Technology Upgradation and Industry 4.0 Integration
Adoption of smart, energy-efficient machines with digital capabilities such as AI-based monitoring, and remote diagnostics. Integration of automation and robotics to improve precision, reduce cycle time, and optimize labour costs.
2. Sustainability-Driven Innovation
Development of machines that can process recycled, biodegradable, or bio-based plastics. Designing energy-efficient systems to align with global carbon reduction goals and comply with environmental regulations.
3. Geographical Expansion
Targeting emerging markets in Asia, Africa, and Latin America where industrialization is driving new demand. Establishing localized manufacturing or assembly units and service centres to support regional growth.
4. Product Diversification
Offering customizable solutions to meet the specific needs of niche industries.
5. Strengthening After-Sales and Service Infrastructure
Building a robust service network for preventive maintenance, spare parts availability, and customer training. Offering digital service platforms and AMC contracts to boost customer retention and recurring revenue.
6. Strategic Partnerships and Collaborations
Collaborating with tool makers, resin suppliers, and automation vendors for integrated solutions. Partnering with R&D institutions and universities for joint product development and skills training.
7. Improving Investor Relations
Transparent Communication: PML is committed to open and honest communication, providing regular updates on financial performance, business strategy, and future outlook.
Attractive Dividend Policy: Offering consistent dividends over the last 6 years.
8. Strengthening Financial Health
Debt Reduction: Continuously working to lower debt levels and improve financial stability. Cost Management: Implementing effective cost management strategies to boost profit margins and investor confidence.
OPERATIONAL HIGHLIGHTS PARTICIPATION IN EXHIBITIONS DURING THE F.Y. 2024-25
During the financial year 2024 25, Polymechplast Machines Limited actively participated in several key plastic processing and injection moulding exhibitions, at the Regional, National and Inter-National levels. These events served as a vital platform to showcase our advanced machinery, innovative technologies, and customized solutions to a broad spectrum of stakeholders, including potential clients, existing customers, industry experts, and strategic partners.
Our participation in these exhibitions was part of a broader strategic initiative aimed at: Enhancing brand visibility in emerging and established markets. Demonstrating our technological advancements and product capabilities.
Gathering market intelligence and customer feedback to align our offerings with evolving industry demands. Expanding our distribution network and generating qualified business leads. During the year, your Company has participated in following Exhibitions, making it remarkable journey: -
A. NORTH-EAST INTERNATIONAL EXHIBITION GUWAHATI, ASSAM, INDIA
The North-East International Exhibition was organized in September, 2024 by “The Eventage” All India Plastic Manufacturers Association (AIPMA) in Guwahati, Assam, India.
Your Company participated in this Exhibition to promote and create awareness regarding PROTEK Series Machines, mainly to push and touch the uncovered and untapped areas in the North-East region.
B. OMAN PLAST - MUSCUT, SULTANATE OF OMAN
The Oman Plast Exhibition was organized by Silver Star Corporation L.L.C. in Muscat, the Sultanate of Oman in October, 2024.
This was one of the international levels of Exhibition participated by your Company, to cover and visit International Market. Various nearby countries of Oman have attended and participated this exhibition. Product Inquiries have been generated through this exhibition, and your Company is trying its best to make it convert to the order size.
C. PLEXPO INDIA, 2024 GANDHINAGAR, GUJARAT, INDIA
The PLEXPO India, 2024 Exhibition was organized in December, 2024 by the Gujarat State Plastic Manufacturers Association (GSPMA) in Gandhinagar, Gujarat, India.
This mainly covers participants from the state of Gujarat, Rajasthan and Madhya Pradesh.
Your Company has received many new inquiries for the PROTEK series machines and various spot booking has also been attracted during this exhibition.
D. PLASTO 2025 PUNE, MAHARASHTRA, INDIA
The PLASTO 2025 Exhibition was organized in January, 2025 by the Association for Promotion of Plastic in Moshi, Pune, Maharashtra.
Participants from the whole Maharashtra region were covered under this Exhibition. As Pune is the Hub of Automobile Industry and Electrical Items, your Company got an immense opportunity to received handsome inquiries regarding the PROTEK series machine as well as Order book size. Also, your Company has good Customer base in Pune region, which adds an extra touch to this Exhibition.
E. PLAST PACK, 2025 INDORE, MADHYA PRADESH, INDIA
The PLAST PACK, 2025 Exhibition was organized in January, 2025 by the Indian Plast Pack Forum in Indore, Madhya Pradesh, India.
This Exhibition was held almost after 2 decades in the History of Plastic Industry in Madhya Pradesh, where participants from all over M.P. state have attended this exhibition.
As we know, Indore is on the verge of becoming the biggest Toy Manufacturing Hub in India. According, your Company has focused on these Toy Manufacturing Industries in this Exhibition. Your Company had great prospects of expansion of PROTEK series machines here and had received highest level of Inquiries and spot booking orders.
F. IND PLAST, 2025 KOLKATA, WEST BENGAL, INDIA
The IND PLAST, 2025 Exhibition was organized in February, 2025 by the Indian Plastic Federation in Kolkata, West Bengal, India.
Kolkata represents one of the most vibrant and high-potential markets in Eastern India, particularly in the Household sector. The citys dense population, growing urbanization, and rising consumer demand have led to a consistent surge in the consumption of plastic household goods such as containers, kitchenware, storage solutions, buckets, furniture, and utility items. This makes Kolkata a strategic focus area for plastic processors and manufacturers.
For Polymechplast Machines Limited, this translates into a strong opportunity to serve local plastic product manufacturers with high-efficiency injection moulding machines tailored for household applications. Our participation in local exhibitions and industry networking events in Kolkata has further strengthened our visibility and enabled us to cater to the evolving needs of this dynamic market.
Overall, through engaging product demonstrations, live interactions, and networking with industry participants, we were able to significantly increase our market presence and reinforce our position as a trusted manufacturer of high-performance plastic injection moulding machines.
This proactive engagement in industry exhibitions has already begun to reflect positively in terms of increased customer inquiries and conversion rates and is expected to contribute meaningfully to our growth in the coming years.
SWOT ANALYSIS
Strengths |
Weaknesses |
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| Established Brand with Proven Legacy | Limited Brand Visibility vs. Global Giants |
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| Comprehensive Product Portfolio | Technology Gaps in High-End Segments |
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| In-House Manufacturing Capabilities | Dependency on Select Customer Segments |
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| Strong Domestic Market Reach | Export Risk from Currency & Policy Changes |
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| Export Experience and Global Footprint | Limited Scale vs. Global Players | |||
| Customer-Centric Approach | Manpower Training & Technology Adoption |
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| ISO Certification and Quality Systems | Lag | |||
Opportunities |
Threats |
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| Growing Domestic Manufacturing Ecosystem | Raw Material and Component Price Volatility |
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| Expansion into Emerging Markets | Competition from Global and | Low-Cost | ||
| Surging Demand in Key Sectors | Manufacturers | |||
| Technology Shift to Smart & Energy-Efficient | Rapid Technological Change | |||
| Machines | Environmental Regulations and Plastic Bans |
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| Replacement and Modernization Demand | Dependence on End-User Industry Cycles |
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| Sustainability and Recycling Focus | Skilled Manpower Shortage | |||
| After-Sales Service & AMC Revenue Stream | Global Economic and | Geopolitical | ||
| Uncertainty | ||||
COMPANYS FINANCIAL PERFORMANCE
The Companys Board of Directors are responsible for the matters as stated in Section 134(5) of the Companies Act, 2013 (“the Act”) with respect to the preparation of these Ind AS financial statements that give a true and fair view of the financial position, financial performance including other comprehensive income, cash flows and changes in equity of the Company in accordance with the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended, and other accounting principles generally accepted in India. The financials have been prepared considering the requirements of applicable laws.
During the financial year 2024-25, the Company recorded a Total Income of Rs. 6564.27/- Lakhs as compared to Rs. 5970.50/- Lakhs during the financial year 2023-24.
Profit after tax was Rs. 90.58/- Lakhs for the financial year 2024-25 as against Rs. 79.17/- Lakhs for the financial year 2023-24.
KEY FINANCIAL RATIOS
As required under SEBI Listing Regulations, details of key financial ratios are outlined as below:
Sr. No. |
Key Financial Ratios | F.Y. 2024-25 | F.Y. 2023-24 | Change (in %) |
1. |
Current Ratio (in times) | 1.43 | 1.14 | 26% |
2. |
Debt-Equity Ratio (in times) | 0.14 | 0.04 | 231% |
3. |
Debt Service Coverage Ratio (in times) | N.A. | 21.63 | N.A. |
4. |
Return on Equity Ratio (in %) | 3.53 | 3.12 | 13% |
5. |
Inventory Turnover Ratio (in times) | 5.39 | 4.80 | 12% |
6. |
Trade Receivables Turnover ratio (in times) | 29.13 | 27.87 | 4% |
7. |
Trade Payables Turnover ratio (in times) | 9.67 | 7.76 | 25% |
8. |
Net capital Turnover ratio (in times) | 13.33 | 26.00 | (19%) |
9. |
Net profit ratio (in %) | 1.40 | 1.34 | 4% |
10. |
Return on Capital employed (in %) | 5.12 | 5.62 | (9%) |
INTERNAL CONTROL SYSTEMS AND ADEQUACY
The Company has an adequate system of internal controls, directly corresponding to our size and operating structure with documented procedures covering all corporate functions. The Internal Control System is integrated with our financial and operating systems which directs us in a more effective manner. Our Company has deployed an Enterprise Resource Planning (“ERP”) system enabling a high degree of system-based checks and controls ensuring protection of its assets and interests. The governance risk and compliance framework further ensure that internal controls are effective and complied with.
Internal controls provide reasonable assurance regarding the effectiveness and efficiency of operations, the adequacy of safeguards for assets, the reliability of financial controls, and compliance with applicable laws and regulations.
Our Company has appointed the reputed firm, Chartered Accountants for internal audit functions consisting of experienced and professionally qualified team. The audit findings and management plans are reported on a Quarterly basis to the Audit Committee by the Internal Auditors. The Internal Auditors of our Company also reports to the Audit Committee in respect of adequacy of internal control systems and weaknesses, if any. Most importantly, the senior management sets the tone at the top for no tolerance for non-compliance and promotes a culture of continuous innovation and improvement. Management supports independent and objective internal auditing and the implementation of internal audit recommendations. Furthermore, the Statutory Auditors reports on the adequacy and effectiveness of the internal financial controls in respect of financial reporting.
RISKS AND CONCERNS
Risk management is a fundamental aspect of your Companys operating framework. We firmly believe that effectively managing risks is essential for maximizing returns and ensuring sustainable growth.
Our approach to addressing business risks is comprehensive and proactive. We conduct periodic reviews to identify and evaluate potential risks that may affect our operations. By having a well-defined framework for mitigating controls and reporting mechanisms, we can promptly address any identified risks and minimize their impact on our business. Through a diligent risk assessment process, we appropriately identify and assess threats that may arise within our business environment. We then take necessary actions to address these risks and implement suitable measures to mitigate their potential negative effects.
By prioritizing risk management and actively addressing potential challenges, we aim to safeguard our Companys interests and enhance its resilience in the face of uncertainties. This enables us to pursue growth opportunities confidently while ensuring the well-being of our business and stakeholders.
HUMAN RESOURCES
During the year under review, industrial relations of the Company continued to be cordial and peaceful. We believe that our employees are key contributors to our business success. We focus on attracting and retaining the best possible talent. Our Company looks for specific skill-sets, interests and background that would be an asset for our business. Our employees look after operations, administrative, secretarial, legal, marketing and accounting functions. Our manpower is a prudent mix of the experienced and youth which gives us the dual advantage of stability and growth. Our work processes and skilled / semi-skilled / unskilled resources together with our strong management team have enabled us to successfully implement our growth plans.
CAUTIONARY STATEMENT
The report may contain certain statements that the Company believes are or may be considered to be "forward-looking statements" that describe our objectives, plans or goals. All these forward-looking statements are subject to certain risks and uncertainties, including but not limited to, government action, economic development and risks inherent in the Companys growth strategy and other factors that could cause the actual results to differ materially from those contemplated by the relevant forward-looking statements.
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