Resins and Plastics Ltd. (RPL) is one of India’s leading Synthetic Resin manufacturers catering to a wide range of industries today such as Adhesives, Coatings, Printing Inks, Insulating Varnishes, Wire Enamels, Lamination, Construction, Cosmetics, Textiles, and Foundries. RPL commenced its operations in 1971 for manufacturing Alkyd Resins, Epoxy Resins, Foundry Resins, Ketonic Resins, and Phenolic Resins some of which are import substitutes. RPL’s manufacturing facilities are located at MIDC, Taloja in Maharashtra and GIDC, Ankleshwar in Gujarat, both of which are in close proximity to the shipping ports. RPL’s strength lies in its manufacturing and strong distribution network that spans across India. RPL has its own sales offices and branches across the country and also deals through a few major distributors across different regions. Operation Performance of Resin and Plastic Annual Report 2021 1. Despite COVID-19, during the financial year 2020-21, revenue from operations increased to 145 Crores as against 138 Crores, an overall growth of 5%. 2. The Profit after Tax for the current year is 12 Crores as against 8.57 Crores in the previous year 2019-20, an overall growth of 36%. 3. In FY20-21, NCL has approved the amalgamation of Pragati Chemicals into Resin and Plastics.  Under this scheme,  Resin and Plastics had allotted 6,00,000 Equity Shares of 10 each in the ratio of 5 (Five) equity shares for every 3 (Three) share held by shareholders of Pragati Chemicals Limited on 3rd September, 2020 pursuant to the scheme of amalgamation. 4. Resin and Plastics has given dividend of Rs.5.50 per share in FY20-21. 5. Trade Receivables has gone up from 30 Crores to 41 Crores. Due to which the cash flow from operations has become negative in FY20-21 which is negative for the business. Valuation of Resin and Plastic Unlisted Share? Total Outstanding Shares = 41,72,300 Unlisted Share Price = 325 Mcap = 135 Crores EPS = 28 P/E = 11x Mcap/Sales = <1