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 ₹ 2,538 Cr.
- Current Price ₹ 809
- High / Low ₹ 1,411 / 774
- Stock P/E 34.6
- Book Value ₹ 1,287
- Dividend Yield 1.67 %
- ROCE 7.16 %
- ROE 5.72 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.63 times its book value
- Company has been maintaining a healthy dividend payout of 42.2%
Cons
- The company has delivered a poor sales growth of 8.94% over past five years.
- Promoter holding is low: 26.7%
- Company has a low return on equity of 5.64% over last 3 years.
- Promoters have pledged or encumbered 99.9% of their holding.
- Earnings include an other income of Rs.178 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,172 | 3,204 | 3,202 | 3,201 | 3,572 | 4,570 | 4,487 | 4,918 | 6,624 | 7,652 | 6,307 | 6,885 | 6,993 | |
| 3,080 | 2,919 | 2,849 | 2,758 | 3,078 | 3,838 | 3,706 | 3,701 | 5,316 | 6,705 | 5,940 | 6,189 | 6,706 | |
| Operating Profit | 92 | 285 | 353 | 443 | 494 | 732 | 781 | 1,217 | 1,308 | 947 | 367 | 696 | 287 |
| OPM % | 3% | 9% | 11% | 14% | 14% | 16% | 17% | 25% | 20% | 12% | 6% | 10% | 4% |
| 37 | 70 | -32 | 177 | 44 | 163 | 131 | 59 | 128 | 95 | 58 | 95 | 178 | |
| Interest | 54 | 56 | 48 | 47 | 39 | 29 | 18 | 18 | 16 | 35 | 42 | 46 | 50 |
| Depreciation | 192 | 216 | 209 | 197 | 185 | 209 | 253 | 280 | 273 | 296 | 307 | 300 | 326 |
| Profit before tax | -117 | 83 | 64 | 376 | 314 | 657 | 640 | 979 | 1,147 | 711 | 76 | 445 | 89 |
| Tax % | -55% | 6% | 75% | 4% | 9% | 11% | 23% | 12% | 16% | 13% | -14% | 20% | |
| -52 | 78 | 16 | 361 | 284 | 584 | 494 | 862 | 965 | 616 | 86 | 358 | 70 | |
| EPS in Rs | -2.14 | 11.87 | 9.08 | 72.44 | 49.85 | 103.18 | 88.18 | 163.04 | 181.19 | 110.97 | 12.05 | 66.64 | 23.34 |
| Dividend Payout % | -95% | 21% | 34% | 10% | 82% | 50% | 20% | 102% | 58% | 81% | 25% | 21% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 8% |
| 5 Years: | 9% |
| 3 Years: | 1% |
| TTM: | 6% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | -4% |
| 3 Years: | -28% |
| TTM: | -53% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 2% |
| 3 Years: | -18% |
| 1 Year: | -38% |
| Return on Equity | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 10% |
| 3 Years: | 6% |
| Last Year: | 6% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 33 | 33 | 33 | 33 | 33 | 33 | 33 | 32 | 32 | 32 | 32 | 32 | 32 |
| Reserves | 2,228 | 2,088 | 2,289 | 2,270 | 2,516 | 2,739 | 2,997 | 3,021 | 3,284 | 3,451 | 3,479 | 3,731 | 4,008 |
| 2,079 | 1,655 | 1,294 | 810 | 863 | 786 | 758 | 695 | 946 | 799 | 748 | 882 | 968 | |
| 970 | 968 | 951 | 1,243 | 1,457 | 1,648 | 1,952 | 2,420 | 2,954 | 3,091 | 3,124 | 3,309 | 3,608 | |
| Total Liabilities | 5,309 | 4,744 | 4,566 | 4,356 | 4,868 | 5,205 | 5,739 | 6,168 | 7,216 | 7,373 | 7,383 | 7,954 | 8,616 |
| 2,498 | 2,569 | 2,406 | 2,184 | 2,218 | 2,242 | 2,824 | 2,759 | 3,152 | 3,252 | 3,002 | 3,944 | 4,049 | |
| CWIP | 653 | 8 | 3 | 10 | 8 | 181 | 30 | 325 | 126 | 196 | 628 | 36 | 89 |
| Investments | 66 | 16 | 1 | 100 | 133 | 123 | 233 | 288 | 276 | 275 | 374 | 340 | 328 |
| 2,092 | 2,151 | 2,157 | 2,062 | 2,509 | 2,658 | 2,652 | 2,796 | 3,663 | 3,650 | 3,379 | 3,634 | 4,150 | |
| Total Assets | 5,309 | 4,744 | 4,566 | 4,356 | 4,868 | 5,205 | 5,739 | 6,168 | 7,216 | 7,373 | 7,383 | 7,954 | 8,616 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 114 | 376 | 448 | 441 | 307 | 551 | 731 | 1,102 | 560 | 802 | 455 | 438 | |
| -391 | -0 | 86 | -246 | -106 | -265 | -323 | -451 | 41 | 16 | -804 | -464 | |
| 311 | -234 | -473 | -436 | -42 | -312 | -298 | -660 | -232 | -657 | -152 | -38 | |
| Net Cash Flow | 33 | 142 | 61 | -240 | 159 | -26 | 110 | -8 | 369 | 160 | -501 | -64 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 47 | 46 | 49 | 53 | 56 | 48 | 55 | 50 | 61 | 44 | 56 | 54 |
| Inventory Days | 86 | 82 | 78 | 88 | 103 | 92 | 105 | 133 | 141 | 110 | 126 | 140 |
| Days Payable | 34 | 38 | 36 | 52 | 48 | 32 | 37 | 55 | 55 | 38 | 51 | 45 |
| Cash Conversion Cycle | 99 | 90 | 92 | 90 | 110 | 107 | 123 | 128 | 147 | 116 | 132 | 149 |
| Working Capital Days | 9 | 0 | 8 | 29 | 29 | 39 | 62 | 56 | 72 | 69 | 84 | 79 |
| ROCE % | -1% | 4% | 4% | 9% | 8% | 15% | 12% | 19% | 20% | 12% | 2% | 7% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Investor Presentation
18 Nov - Investor Presentation on the unaudited financial results for the quarter and half year ended September 30, 2025
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General-Clarification
18 Nov - Polyplex corrects unintended attachment in Nov 13 filing on Q2/H1 Sep 30, 2025 results; corrective action underway. Checklist: - Read the announcement to identify the …
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Results- Financial Results For Sep 30 2025
13 Nov - Unaudited Q2 FY2025-26 results (Sep 30, 2025): consolidated revenue Rs179,404 lakh; interim dividend Rs2.00/share (Record Date Nov 21, 2025).
- Corporate Action-Board approves Dividend 13 Nov
- Corporate Action- Fixes Record Date For Interim Dividend 13 Nov
Annual reports
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Financial Year 2025
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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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Concalls
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Nov 2025TranscriptAI 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.