Deccan Polypacks Limited is a public limited company based in **Hyderabad, Telangana**, historically positioned within the industrial polymer packaging sector. The company is currently navigating a period of extreme operational distress and structural transition, characterized by the cessation of manufacturing activities and the liquidation of core physical assets. --- ### **Historical Product Portfolio and Industrial Focus** Before the suspension of its manufacturing activities, the company specialized in high-density and low-density polymer products designed for industrial containment and transport. The core product line included: * **HDPE/PP Woven Sacks and Fabric:** Heavy-duty packaging for industrial commodities. * **Film Covers:** Protective layering for commercial goods. * **HMHDPE/LDPE Bags:** Specialized polymer bags for diverse industrial applications. The company’s operations were centered at its primary facility in **IDA Kukatpally, Hyderabad**, where it utilized indigenous technology and focused on internal technical self-reliance. --- ### **Current Operational Status and "Going Concern" Uncertainty** As of late 2025, Deccan Polypacks Limited is in a state of **suspended manufacturing operations**. The company has undergone a significant divestment phase, selling its **land, buildings, and manufacturing facilities**. **Critical Operational Notes:** * **Accounting Basis:** Due to the absence of a final action plan for future operations and the disposal of core assets, financial statements are no longer prepared on a **"Going Concern"** basis. Instead, they are prepared on a **"Realisable Value"** basis. * **Production Capacity:** The company currently possesses **zero active production capacity** and holds **no raw material inventory**. * **Foreign Exchange:** The company has **Nil** foreign exchange earnings and **Nil** outgo, reflecting a total absence of international trade or import-dependent manufacturing. --- ### **Financial Performance and Net Worth Analysis** The company has reported **zero income from operations** for at least the last three consecutive fiscal years. While it historically reported marginal profits, recent years have been marked by volatility and the impact of asset liquidations. #### **Three-Year Financial Summary** | Particulars (Rs. in Lakhs) | FY 2023-24 | FY 2022-23 | FY 2021-22 | | :--- | :--- | :--- | :--- | | **Income from Operations** | **0.00** | **0.00** | **0.00** | | **Interest** | **0.02** | **0.01** | **3.02** | | **Depreciation** | **0.00** | **1.41** | **2.50** | | **Net Profit / (Loss)** | **(4.58)** | **29.57** | **51.29** | #### **Capital Structure and Net Worth Recovery** The company previously faced a total **erosion of net worth**, leading to a filing with the **BIFR** (Board for Industrial and Financial Reconstruction) under **SICA** provisions in **February 2016**. However, recent filings show a technical shift toward a marginal positive net worth. | Financial Year Ended | Paid-up Capital (INR) | Reserves (INR) | Net Worth (INR) | | :--- | :--- | :--- | :--- | | 31/03/2023 | **2,11,50,000** | **(3,86,92,000)** | **(1,75,42,000)** | | 31/03/2024 | **2,11,50,000** | **(3,58,50,000)** | **(1,47,00,000)** | | 31/03/2025 | **2,11,50,000** | **(2,05,98,000)** | **5,52,000** | --- ### **Debt Obligations and Liability Management** The company’s remaining debt consists primarily of **Unsecured Deferred Payment Liabilities** stemming from a sales tax deferment scheme granted by the Government of Andhra Pradesh. * **Total Deferment Availed:** **Rs. 274.11 lakhs** (accumulated up to 2010-11). * **Repayment Progress:** Repayment commenced in 2012-13. The outstanding balance was significantly reduced from **Rs. 39.27 lakhs** in 2024 to **Rs. 8.00 lakhs** as of March 31, 2025. * **Target Completion:** The company aims to complete the repayment of this liability during the **2024-25** cycle. --- ### **Corporate Governance and Regulatory Compliance** The company is currently restructuring its leadership to meet **SEBI (LODR) Regulations** and maintain its listing on the **Bombay Stock Exchange (BSE)**. **Key Management Personnel (as of March 2025):** * **Company Secretary & Compliance Officer:** Mrs. Ritu Sing (Appointed March 27, 2025). * **Risk Management Committee:** Led by **Sri D V Prudvi Raju** and **Sri D R S P Raju**. * **Recent Resignations:** Sri. Suryanarayanarao Venkata Nanduri (Independent Director) resigned effective March 27, 2025. **Compliance Challenges:** * **Listing Fees:** Due to a severe **shortage of funds**, the company failed to pay annual listing fees to the **BSE** for the period **2019-20 through 2022-23**. * **Audit Qualifications:** Statutory auditors have highlighted the **absence of balance confirmations** from external parties for receivables and payables, meaning the true financial impact of these balances remains undetermined. --- ### **Risk Matrix and Market Challenges** Investors should note the following high-impact risk factors currently affecting the entity: | Risk Factor | Description and Impact | | :--- | :--- | | **Operational Cessation** | Complete lack of manufacturing activity and disposal of production assets. | | **Solvency Risk** | Historical erosion of net worth and reliance on "Realisable Value" accounting. | | **Market Pressure** | Intense price-cutting by competitors in the packaging industry originally forced the suspension of production. | | **Liquidity Risk** | Severe fund shortages affecting the ability to meet statutory obligations and listing fees. | | **Interest Rate Risk** | Exposure to floating rates on remaining long-term debt, with limited mitigation capacity. | | **Regulatory Risk** | Potential for non-compliance penalties under **SEBI (LODR)** due to financial constraints. | --- ### **Equity Information** * **Stock Exchange:** Listed on the **Bombay Stock Exchange (BSE)**. * **Total Outstanding Shares:** **2,115,000** equity shares. * **Face Value:** **Rs. 10 per share**. * **Accounting Standards:** Financials are prepared in accordance with **Indian Accounting Standards (Ind AS)** under Section 133 of the Companies Act, 2013.