💰 Financial Performance

Revenue Growth by Segment

Not disclosed in available documents. The company adopted its audited financial statements for the year ended March 31, 2025, at its AGM on November 30, 2025, but specific segment growth percentages were not provided.

Geographic Revenue Split

Not disclosed in available documents. Operations are concentrated in Gujarat, with a corporate office in Ahmedabad and a factory in Himmatnagar.

Profitability Margins

Not disclosed in available documents. While the FY2025 financial statements were adopted, specific Gross, Operating, or Net profit margins were not detailed in the announcements.

Credit Rating & Borrowing

Not disclosed in available documents. However, a resignation letter from an Independent Director dated November 5, 2025, explicitly cites non-payment of dues to banks, indicating severe credit stress and potential default status.

⚙️ Operational Drivers

Raw Materials

Not disclosed in available documents. As a manufacturer of printed flexible packaging materials, the company likely uses plastic polymers and inks, but specific names and cost percentages are not provided.

Key Suppliers

Not disclosed in available documents. The company is reportedly failing to pay 'Other Business Parties,' which likely includes its raw material suppliers.

Raw Material Costs

Not disclosed in available documents. Procurement strategies are likely compromised by the reported non-payment of dues to business partners as of November 2025.

Manufacturing Efficiency

Not disclosed in available documents. Capacity utilization is likely under pressure due to the liquidity crisis mentioned in November 2025.

📈 Strategic Growth

Growth Strategy

The company is pursuing a strategy of altering its Main Object Clause in the Memorandum of Association (MOA), as approved by shareholders on November 30, 2025. This suggests a pivot or expansion into new business areas to address current financial distress and non-payment of bank dues.

Products & Services

All kinds of Printed Flexible Packaging Materials.

Brand Portfolio

SABAR FLEX.

🌍 External Factors

Industry Trends

The flexible packaging industry is growing due to FMCG and e-commerce demand, but Sabar Flex is currently unable to capitalize on these trends due to internal liquidity crises and governance issues.

Competitive Moat

Not disclosed in available documents. Any existing moat is currently threatened by the company's inability to meet basic financial obligations to directors and lenders.

Macro Economic Sensitivity

Highly sensitive to credit availability and interest rates. The reported non-payment of bank dues makes the company extremely vulnerable to any tightening of the credit market.

⚖️ Regulatory & Governance

Industry Regulations

Not disclosed in available documents. The company must comply with plastic waste management and manufacturing standards for packaging, but specific impacts are not detailed.

Legal Contingencies

Potential legal actions and recovery suits from banks and business parties due to non-payment of dues, as explicitly stated in the resignation letter of Independent Director Bhavna Shah on November 5, 2025.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the company's ability to continue as a going concern. The resignation of an Independent Director citing non-payment of bank dues and director remuneration is a critical indicator of potential insolvency.

Geographic Concentration Risk

100% of operations are concentrated in Gujarat, specifically Ahmedabad and Himmatnagar, making the company sensitive to regional economic shifts.

Third Party Dependencies

Critical dependency on banks for working capital and business partners for raw materials. Both relationships are currently at high risk due to reported non-payment of dues.

Credit & Counterparty Risk

High risk. The company is failing to meet its own obligations to creditors and directors as of late 2025.