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 ₹ 2,843 Cr.
- Current Price ₹ 906
- High / Low ₹ 1,396 / 740
- Stock P/E 48.0
- Book Value ₹ 240
- Dividend Yield 1.49 %
- ROCE 9.10 %
- ROE 8.07 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 3.77 times its book value
- The company has delivered a poor sales growth of 2.88% over past five years.
- Promoter holding is low: 26.7%
- Company has a low return on equity of 6.03% over last 3 years.
- Earnings include an other income of Rs.58.9 Cr.
- Promoter holding has decreased over last 3 years: -24.2%
* 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 Industrials BSE 1000
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,052 | 968 | 944 | 1,089 | 1,348 | 1,273 | 1,299 | 1,785 | 1,648 | 1,414 | 1,563 | 1,497 | |
| 953 | 879 | 867 | 1,010 | 1,202 | 1,123 | 1,078 | 1,514 | 1,535 | 1,415 | 1,453 | 1,423 | |
| Operating Profit | 99 | 89 | 77 | 79 | 145 | 150 | 221 | 271 | 113 | -2 | 110 | 74 |
| OPM % | 9% | 9% | 8% | 7% | 11% | 12% | 17% | 15% | 7% | -0% | 7% | 5% |
| 17 | 8 | 50 | 64 | 192 | 220 | 339 | 337 | 257 | 37 | 49 | 59 | |
| Interest | 16 | 8 | 19 | 16 | 5 | 3 | 3 | 2 | 1 | 3 | 10 | 9 |
| Depreciation | 77 | 65 | 53 | 48 | 45 | 55 | 57 | 51 | 48 | 46 | 47 | 50 |
| Profit before tax | 23 | 25 | 55 | 79 | 287 | 313 | 499 | 555 | 321 | -14 | 101 | 74 |
| Tax % | 13% | -8% | 17% | 26% | 21% | 27% | 9% | 11% | 8% | -33% | 24% | 20% |
| 20 | 27 | 46 | 59 | 228 | 230 | 453 | 491 | 295 | -9 | 77 | 59 | |
| EPS in Rs | 6.23 | 8.43 | 14.29 | 18.42 | 71.31 | 71.85 | 144.43 | 156.55 | 93.85 | -2.88 | 24.56 | 18.86 |
| Dividend Payout % | 41% | 36% | 50% | 221% | 73% | 24% | 116% | 68% | 95% | -106% | 56% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | 3% |
| 3 Years: | -3% |
| TTM: | -4% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | -33% |
| 3 Years: | -41% |
| TTM: | -23% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | -4% |
| 3 Years: | -13% |
| 1 Year: | -35% |
| Return on Equity | |
|---|---|
| 10 Years: | 32% |
| 5 Years: | 26% |
| 3 Years: | 6% |
| Last Year: | 8% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 33 | 33 | 33 | 33 | 33 | 33 | 32 | 32 | 32 | 32 | 32 | 32 |
| Reserves | 381 | 398 | 408 | 439 | 523 | 584 | 525 | 700 | 662 | 637 | 681 | 722 |
| 323 | 179 | 205 | 218 | 218 | 167 | 161 | 88 | 26 | 111 | 128 | 241 | |
| 55 | 66 | 41 | 60 | 70 | 76 | 111 | 90 | 70 | 65 | 78 | 86 | |
| Total Liabilities | 791 | 677 | 687 | 750 | 843 | 859 | 829 | 910 | 791 | 845 | 920 | 1,081 |
| 462 | 416 | 353 | 319 | 330 | 360 | 327 | 314 | 293 | 286 | 261 | 294 | |
| CWIP | 1 | 2 | 0 | 2 | 4 | 5 | 5 | 7 | 10 | 2 | 15 | 41 |
| Investments | 35 | 20 | 47 | 47 | 55 | 119 | 49 | 82 | 47 | 49 | 82 | 85 |
| 294 | 239 | 287 | 381 | 454 | 374 | 447 | 507 | 441 | 508 | 562 | 661 | |
| Total Assets | 791 | 677 | 687 | 750 | 843 | 859 | 829 | 910 | 791 | 845 | 920 | 1,081 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 138 | 144 | 16 | 12 | 33 | 155 | 157 | 142 | 158 | -44 | 112 | 100 | |
| -43 | 9 | -25 | 22 | 111 | 68 | 351 | 271 | 225 | -8 | -89 | -138 | |
| -91 | -157 | 6 | -33 | -144 | -221 | -498 | -410 | -386 | 56 | -24 | 79 | |
| Net Cash Flow | 5 | -5 | -3 | 1 | -0 | 2 | 10 | 2 | -2 | 4 | -1 | 41 |
| Free Cash Flow | 96 | 116 | -2 | -15 | -21 | 86 | 126 | 110 | 120 | -77 | 22 | -61 |
| CFO/OP | 144% | 170% | 38% | 35% | 65% | 142% | 91% | 77% | 165% | 2,371% | 118% | 153% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 36 | 24 | 32 | 39 | 47 | 41 | 40 | 40 | 27 | 50 | 42 | 43 |
| Inventory Days | 47 | 49 | 69 | 68 | 67 | 66 | 73 | 67 | 68 | 72 | 77 | 78 |
| Days Payable | 5 | 7 | 6 | 8 | 9 | 7 | 13 | 10 | 8 | 7 | 13 | 12 |
| Cash Conversion Cycle | 78 | 66 | 95 | 99 | 105 | 99 | 100 | 97 | 87 | 115 | 106 | 109 |
| Working Capital Days | 26 | 21 | 15 | 35 | 65 | 58 | 46 | 63 | 66 | 74 | 71 | 68 |
| ROCE % | 5% | 6% | 12% | 14% | 40% | 41% | 67% | 72% | 42% | -1% | 14% | 9% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Capacity Utilization Factor (CUF) % |
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| Number of Customers Count |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Change in Directorate
23 May - Sanjiv Chadha resigned May 23, 2026; Ranjit Singh appointed additional non-executive director from May 25, 2026.
- Corporate Action-Board approves Dividend 23 May
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Results- Financial Results For Mar 31, 2026
23 May - May 23, 2026 audited FY26 results approved; 51% TechNova acquisition and Rs1 final dividend proposed.
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Board Meeting Outcome for Regulation 30 And 33 Of SEBI (LODR) Regulations, 2015 For Audited Financial Results For The Quarter/Year Ended March 31, 2026
23 May - Polyplex posted audited FY26 results and executed 51% acquisition of TechNova Printrite for Rs 6,209.75 lakh.
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Board Meeting Intimation for Notice Of Board Meeting To Consider Audited Financial Results For The Quarter/ Year Ended March 31, 2026 And To Recommend Final Dividend.
20 May - Board meets May 23, 2026 to approve audited FY26 results and recommend final dividend.
Annual reports
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Financial Year 2019
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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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Concalls
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Feb 2026TranscriptAI SummaryPPT
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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.