Ashish Polyplast Ltd Detail
- Air and Pneumatic Hose Pipe
- Water Hose Pipe
- Welding Hose Pipe
- Thermo plast welding hose pipe
These things are used in Agriculture, Chemical and Civil works. The Company operates under the brand name of Realon. As per the Company website it has been able to establish marketing channel through dealer network all over India and exports to Middle East, Gulf countries, South Africa, Bangladesh, Sri Lanka and Nepal.
It is a small company with turn over of around 7 crore approx as per Company website claims. It is based in Gujarat. It has not mentioned much about the production capabilities or place where factory is situated.
Plastics is lesser known sector and there are some multibagger from this sector in past. The penetration of this sector is increasing with time Now lets see how well the Company as performed since IPO days.As per Dow theory of technical analysis price performance over a period of time reflects Company state.
Ashish Polyplast Ltd Performance
There is not much to discuss about this Company performance on Stock Exchanges.The Company started from less than 5 levels and it zoomed past 5 levels initially showing good promise.
But it kept fluctuating around 5 mark and occasionally touching the 10 mark in later stages of 2015. The company was in consolidation mode in these long 9 years period. It neither moved down below its IPO price nor does it moved up decisively.
It is only during recent bull run in Nifty it broke free from the 5 levels.But in later parts of 2018 with market it also came down sharply. So there is not much to talk about performance. It is still an unnoticed company with lots to prove.
Ashish Polyplast Ltd My Opinion
Plastics is a niche sector. Plastics pipe are used extensively in Irrigation and other uses to transfer liquid or other similar things from one place to other. But the market of Plastic pipes are dominated by unorganized small players.
Majority of Buyers do not have any choice means they do not have any preference of brands. I am not too convinced about usage growth of these items. The market of the items increase will not increase drastically.
The growing irrigation facilities will diminish Plastic pipe use in Agriculture sector. Other industrial sector like Civil and other such sectors like Chemical has stagnant demand.
Looking at the performance of Company on stock exchanges over the years and products they are dealing with I am not too optimistic with their future growth.
I will not recommend to track this company. There are several good companies in plastic sector which have performed better in past. Plastics is huge sector with players catering both Individual Consumers and Industrial Consumers.
Individual Customer companies have performed well in past and have higher chances of performing well in future.Industrial Customer companies will have blink future.