Polyplex Corporation Ltd
Polyplex Corporation is engaged in manufacturing of BOPP, Blown PP/PE and CPP films used in the flexible packaging industry and in industrial usages like release liners, tapes, labels etc. They have 35 Years Of Experience in Plastic Films. They have 7 Manufacturing Facilities In 5 Countries with Multiple Warehouses & Liaison Offices Worldwide. [1]
- Market Cap ₹ 3,784 Cr.
- Current Price ₹ 1,209
- High / Low ₹ 1,480 / 966
- Stock P/E 49.1
- Book Value ₹ 227
- Dividend Yield 0.74 %
- ROCE 13.7 %
- ROE 11.2 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 17.4%
Cons
- The company has delivered a poor sales growth of 4.19% over past five years.
- Promoter holding is low: 26.7%
- Promoters have pledged 99.9% of their holding.
- Earnings include an other income of Rs.48.5 Cr.
- Promoter holding has decreased over last 3 years: -24.3%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Products Packaging
Part of BSE SmallCap BSE Allcap BSE Industrials Nifty Microcap 250 Nifty Total Market
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,119 | 1,052 | 968 | 944 | 1,089 | 1,348 | 1,273 | 1,299 | 1,785 | 1,648 | 1,414 | 1,563 | |
| 1,024 | 953 | 879 | 867 | 1,010 | 1,202 | 1,123 | 1,078 | 1,514 | 1,535 | 1,415 | 1,453 | |
| Operating Profit | 94 | 99 | 89 | 77 | 79 | 145 | 150 | 221 | 271 | 113 | -2 | 110 |
| OPM % | 8% | 9% | 9% | 8% | 7% | 11% | 12% | 17% | 15% | 7% | -0% | 7% |
| 23 | 17 | 8 | 50 | 64 | 192 | 220 | 339 | 337 | 257 | 37 | 49 | |
| Interest | 20 | 16 | 8 | 19 | 16 | 5 | 3 | 3 | 2 | 1 | 3 | 10 |
| Depreciation | 73 | 77 | 65 | 53 | 48 | 45 | 55 | 57 | 51 | 48 | 46 | 47 |
| Profit before tax | 24 | 23 | 25 | 55 | 79 | 287 | 313 | 499 | 555 | 321 | -14 | 101 |
| Tax % | -38% | 13% | -8% | 17% | 26% | 21% | 27% | 9% | 11% | 8% | -33% | 24% |
| 33 | 20 | 27 | 46 | 59 | 228 | 230 | 453 | 491 | 295 | -9 | 77 | |
| EPS in Rs | 10.20 | 6.23 | 8.43 | 14.29 | 18.42 | 71.31 | 71.85 | 144.43 | 156.55 | 93.85 | -2.88 | 24.56 |
| Dividend Payout % | 20% | 41% | 36% | 50% | 221% | 73% | 24% | 116% | 68% | 95% | -106% | 55% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | 4% |
| 3 Years: | -4% |
| TTM: | 11% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | -20% |
| 3 Years: | -46% |
| TTM: | 942% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 21% |
| 5 Years: | 22% |
| 3 Years: | -15% |
| 1 Year: | 25% |
| Return on Equity | |
|---|---|
| 10 Years: | 33% |
| 5 Years: | 39% |
| 3 Years: | 17% |
| Last Year: | 11% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 33 | 33 | 33 | 33 | 33 | 33 | 33 | 32 | 32 | 32 | 32 | 32 |
| Reserves | 368 | 381 | 398 | 408 | 439 | 523 | 584 | 525 | 700 | 662 | 637 | 681 |
| 412 | 323 | 179 | 205 | 218 | 218 | 167 | 161 | 88 | 26 | 111 | 128 | |
| 57 | 55 | 66 | 41 | 60 | 70 | 76 | 111 | 90 | 70 | 65 | 78 | |
| Total Liabilities | 870 | 791 | 677 | 687 | 750 | 843 | 859 | 829 | 910 | 791 | 845 | 920 |
| 493 | 462 | 416 | 353 | 319 | 330 | 360 | 327 | 314 | 293 | 286 | 261 | |
| CWIP | 30 | 1 | 2 | 0 | 2 | 4 | 5 | 5 | 7 | 10 | 2 | 15 |
| Investments | 25 | 35 | 20 | 47 | 47 | 55 | 119 | 49 | 82 | 47 | 49 | 82 |
| 322 | 294 | 239 | 287 | 381 | 454 | 374 | 447 | 507 | 441 | 508 | 562 | |
| Total Assets | 870 | 791 | 677 | 687 | 750 | 843 | 859 | 829 | 910 | 791 | 845 | 920 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 64 | 138 | 144 | 16 | 12 | 33 | 155 | 157 | 142 | 158 | -44 | 112 | |
| -31 | -43 | 9 | -25 | 22 | 111 | 68 | 351 | 271 | 225 | -8 | -89 | |
| -38 | -91 | -157 | 6 | -33 | -144 | -221 | -498 | -410 | -386 | 56 | -24 | |
| Net Cash Flow | -5 | 5 | -5 | -3 | 1 | -0 | 2 | 10 | 2 | -2 | 4 | -1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 35 | 36 | 24 | 32 | 39 | 47 | 41 | 40 | 40 | 27 | 50 | 42 |
| Inventory Days | 55 | 47 | 49 | 69 | 68 | 67 | 66 | 73 | 67 | 68 | 72 | 74 |
| Days Payable | 3 | 5 | 7 | 6 | 8 | 9 | 7 | 13 | 10 | 8 | 7 | 12 |
| Cash Conversion Cycle | 86 | 78 | 66 | 95 | 99 | 105 | 99 | 100 | 97 | 87 | 115 | 104 |
| Working Capital Days | 58 | 50 | 34 | 60 | 80 | 84 | 71 | 78 | 78 | 72 | 103 | 96 |
| ROCE % | 6% | 5% | 6% | 12% | 14% | 40% | 41% | 67% | 72% | 42% | -1% | 14% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Investor Presentation
31 May - Investor Presentation for the quarter and financial year ended March 31, 2025
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Compliances-Reg.24(A)-Annual Secretarial Compliance
30 May - Annual Secretarial Compliance Report for FY25 with minor related party transaction deviation.
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Results- Financial Results For Mar 31 2025
28 May - Polyplex reports FY25 audited results with Rs.4.50 final dividend; new BOPET Film Line starts production.
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Board Meeting Outcome for Outcome Of Board Meeting Held On May 28 2025
28 May - Polyplex reports FY25 audited results with Rs.7,709L standalone profit, final dividend Rs.4.50/share declared.
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Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
26 May - Postal ballot approves appointment of independent director and related party transactions.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Concalls
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May 2025TranscriptNotesPPT
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Feb 2025TranscriptNotesPPT
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Feb 2025TranscriptNotesPPT
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Nov 2024TranscriptNotesPPT
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Sep 2024TranscriptNotesPPT
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May 2024TranscriptNotesPPT
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Feb 2024TranscriptNotesPPT
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Nov 2023TranscriptNotesPPT
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Feb 2023TranscriptNotesPPT
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Nov 2022TranscriptNotesPPT
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Sep 2022TranscriptNotesPPT
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May 2022TranscriptNotesPPT
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Feb 2022TranscriptNotesPPT
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Nov 2021TranscriptNotesPPT
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Sep 2021TranscriptNotesPPT
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May 2021TranscriptNotesPPT
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Feb 2021TranscriptNotesPPT
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Nov 2020TranscriptNotesPPT
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Aug 2020TranscriptNotesPPT
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Aug 2020TranscriptNotesPPT
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May 2020TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
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Oct 2019TranscriptNotesPPT
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Sep 2019TranscriptNotesPPT
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Aug 2019TranscriptNotesPPT
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May 2019TranscriptNotesPPT
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Feb 2019TranscriptNotesPPT
Leading Packaging Company[1][2][3]
It is a leading global PET film manufacturer with a polyethylene terephthalate (PET) film capacity of 4,78,500 metric tonne (MT) (including upcoming capacities).
Polyplex is Ranked #2 Globally (ex-China) in Thin BOPET Film Capacity with market share of ~10% globally.