Polyplex Corporation

₹846.1 -3.9 | 0.5%

WEBSITE BSE:524051 NSE : POLYPLEX 10 May, 16:01

Market Cap ₹2656 Cr.

Stock P/E 71.7

P/B 0.8

Current Price ₹846.1

Book Value ₹ 1110

Face Value 10

52W High ₹1643.9

Dividend Yield 10.4%

52W Low ₹ 760.1

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Polyplex Corporation Research see more...

Polyplex Corporation - Unwrapping a Packaging Giant

Overview Inc. Year: 1984Industry: Plastic Products

Polyplex Corporation Ltd is a holding company. The Company is a producer of thin polyester terephthalate (PET) films. The Company manufactures plastic films and resins. Its geographical segments encompass inside India and Outside of India. Its commercial enterprise portfolio consists of biaxially oriented polypropylene (BOPP) films and cast polypropylene (CPP) films. Its product lines comprises Sarafil, together with BOPET films and BLOWN PP films; Saracote, inclusive of silicone lined films (PET/PP); Saralam, along with extrusion lined film products, and Saraprint, including polyester films for virtual print media quarter. Its product packages include packaging, inclusive of movie for flexible pouches, peel-able seals and lids; business and specialities, inclusive of labels, lamination films and medical test strips; electric, together with thermal printing tapes and membrane contact switches; imaging, which includes overhead transparencies and business graphics, and magnetics, consisting of video tape and audio cassette tape.

Polyplex Corporation Share Price

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Polyplex Corporation Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	1548	1751	1886	2033	2089	1863	1667	1561	1572	1496
Other Income	20	89	61	75	86	57	76	12	24	45
Total Income	1567	1840	1947	2107	2175	1921	1743	1573	1596	1540
Total Expenditure	1291	1402	1507	1673	1848	1760	1623	1499	1451	1446
Operating Profit	277	438	440	435	327	161	120	74	144	94
Interest	4	4	5	7	7	10	11	12	10	10
Depreciation	65	69	72	71	72	75	78	75	75	75
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	208	364	363	357	248	76	31	-13	59	8
Provision for Tax	39	59	59	46	48	-8	10	-3	11	-9
Profit After Tax	169	305	304	311	200	84	20	-10	48	17
Adjustments	-73	-130	-119	-124	-85	-45	-13	7	-20	-12
Profit After Adjustments	96	175	186	187	115	39	8	-3	28	5
Adjusted Earnings Per Share	30.6	55.9	59.2	59.6	36.6	12.3	2.4	-1	8.9	1.5

Polyplex Corporation Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	2535	3172	3204	3202	3201	3572	4570	4487	4918	6624	7652	6296
Other Income	63	37	118	34	121	44	164	61	59	128	95	157
Total Income	2598	3209	3322	3236	3322	3617	4733	4549	4977	6752	7747	6452
Total Expenditure	2347	3080	2920	2849	2758	3078	3839	3706	3701	5316	6705	6019
Operating Profit	251	129	402	387	563	538	895	842	1276	1436	1042	432
Interest	32	54	56	48	47	39	29	18	18	17	35	43
Depreciation	150	192	216	209	197	185	209	253	280	273	296	303
Exceptional Income / Expenses	0	0	-48	-66	56	0	0	69	0	0	0	0
Profit Before Tax	69	-117	83	64	376	314	657	640	979	1147	711	85
Provision for Tax	2	-65	5	48	15	30	73	146	117	182	95	9
Profit After Tax	66	-52	78	16	361	284	584	494	862	965	616	75
Adjustments	-45	45	-40	13	-130	-125	-254	-212	-350	-396	-267	-38
Profit After Adjustments	21	-7	38	29	232	159	330	282	512	569	348	38
Adjusted Earnings Per Share	6.6	-2.1	11.9	9.1	72.4	49.9	103.2	88.2	163	181.2	111	11.8

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	16%	19%	16%	12%
Operating Profit CAGR	-27%	7%	14%	15%
PAT CAGR	-36%	8%	17%	25%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-40%	-10%	11%	19%
ROE Average	18%	26%	23%	13%
ROCE Average	18%	24%	22%	13%

Polyplex Corporation Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	2005	2261	2121	2321	2302	2548	2771	3029	3053	3316	3483
Minority's Interest	665	615	659	635	885	1072	1235	1457	1755	2006	2286
Borrowings	1134	1442	973	714	411	255	245	431	366	478	373
Other Non-Current Liabilities	17	-56	-57	-20	-43	-39	-40	40	79	118	120
Total Current Liabilities	764	986	985	889	775	1021	1028	931	1111	1537	1136
Total Liabilities	4585	5248	4681	4540	4329	4857	5240	5889	6363	7455	7398
Fixed Assets	1518	2498	2569	2406	2181	2215	2239	2821	2756	3149	3249
Other Non-Current Assets	1229	748	35	37	732	560	685	345	701	422	464
Total Current Assets	1837	2000	2076	2096	1416	2082	2316	2723	2906	3884	3685
Total Assets	4585	5248	4681	4540	4329	4857	5240	5889	6363	7455	7398

Polyplex Corporation Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	1004	900	933	1074	440	200	359	334	444	436	804
Cash Flow from Operating Activities	72	114	376	448	441	307	551	731	1102	560	802
Cash Flow from Investing Activities	-1049	-577	84	-20	-144	-126	-296	-405	-436	1	-115
Cash Flow from Financing Activities	862	311	-234	-473	-436	-42	-312	-298	-660	-232	-657
Net Cash Inflow / Outflow	-115	-153	226	-46	-138	139	-57	28	7	329	30
Closing Cash & Cash Equivalent	900	933	1074	1135	200	359	334	444	436	804	965

Polyplex Corporation Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	6.64	-2.14	11.86	9.08	72.44	49.85	103.18	88.18	163.03	181.19	110.97
CEPS(Rs)	67.61	43.61	91.76	70.41	174.46	146.67	247.86	233.6	363.71	394.15	290.46
DPS(Rs)	3	2	2.5	3	7	40	51	17	164	104	88
Book NAV/Share(Rs)	626.34	706.19	662.58	725.31	719.66	796.52	866.25	946.92	972.4	1056.25	1109.3
Core EBITDA Margin(%)	7.26	2.84	8.72	10.86	13.62	13.49	15.74	17.08	24.22	19.44	12.25
EBIT Margin(%)	3.91	-1.94	4.25	3.45	13.02	9.64	14.76	14.4	19.82	17.29	9.65
Pre Tax Margin(%)	2.66	-3.61	2.54	1.97	11.57	8.57	14.13	14.01	19.47	17.05	9.19
PAT Margin (%)	2.56	-1.61	2.39	0.5	11.12	7.75	12.56	10.8	17.15	14.34	7.96
Cash Profit Margin (%)	8.37	4.32	9.01	6.92	17.16	12.8	17.06	16.35	22.72	18.39	11.79
ROA(%)	1.64	-1.06	1.57	0.35	8.15	6.19	11.56	8.87	14.07	13.96	8.29
ROE(%)	3.4	-2.44	3.55	0.73	15.64	11.72	21.95	17.03	28.35	30.3	18.11
ROCE(%)	3.26	-1.58	3.42	3.04	12.58	10.83	19.68	17.92	26.45	29.08	17.5
Receivable days	43.39	42.59	45.45	46.68	50.41	50.72	45.19	51.11	49.01	48.13	47.81
Inventory Days	57.02	53.9	53.55	47.35	47.45	49.92	48.32	53.58	54.19	57.59	63.07
Payable days	44.29	35.49	38.38	39.85	44.62	47.42	34.67	36.93	46.8	45.43	39.31
PER(x)	24.66	0	15.93	22.84	5.78	9.3	5.01	3.4	5.28	13.39	10.3
Price/Book(x)	0.26	0.22	0.29	0.29	0.58	0.58	0.6	0.32	0.88	2.3	1.03
Dividend Yield(%)	1.83	1.29	1.32	1.45	1.67	8.62	9.87	5.68	19.06	4.29	7.7
EV/Net Sales(x)	0.47	0.52	0.37	0.26	0.55	0.44	0.36	0.17	0.5	1.15	0.44
EV/Core EBITDA(x)	4.8	12.74	2.95	2.13	3.13	2.91	1.85	0.9	1.91	5.33	3.26
Net Sales Growth(%)	4.49	25.14	1.01	-0.07	-0.03	11.6	27.92	-1.81	9.61	34.69	15.52
EBIT Growth(%)	-54.49	-161.93	321.46	-19	276.98	-16.5	94.1	-4.02	51.33	16.79	-35.87
PAT Growth(%)	-68.14	-178.47	249.45	-79.1	2124.34	-21.38	105.43	-15.39	74.55	11.93	-36.2
EPS Growth(%)	-77.41	-132.19	655.29	-23.48	697.94	-31.18	106.98	-14.54	84.89	11.13	-38.76
Debt/Equity(x)	0.79	0.92	0.78	0.56	0.35	0.34	0.28	0.25	0.23	0.28	0.23
Current Ratio(x)	2.4	2.03	2.11	2.36	1.83	2.04	2.25	2.93	2.62	2.53	3.24
Quick Ratio(x)	1.84	1.5	1.67	1.9	1.27	1.48	1.61	2.2	1.88	1.68	2.04
Interest Cover(x)	3.12	-1.16	2.48	2.33	9	8.96	23.58	36.53	56.67	70.49	21.16
Total Debt/Mcap(x)	3.02	4.19	2.74	1.95	0.6	0.58	0.48	0.79	0.26	0.12	0.22

Polyplex Corporation Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	50.97	50.97	50.97	50.97	50.97	50.97	50.97	50.97	26.69	26.69
FII	9.29	10.23	12.78	14.81	13.16	12.68	10.84	9.41	8.29	7.93
DII	4.87	4.54	3.63	3.02	2.83	2.82	2.82	2.25	2.27	2.3
Public	34.87	34.25	32.62	31.2	33.04	33.53	35.37	37.36	62.74	63.08
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	1.6	1.6	1.6	1.6	1.6	1.6	1.6	1.6	0.84	0.84
FII	0.29	0.32	0.4	0.46	0.41	0.4	0.34	0.3	0.26	0.25
DII	0.15	0.14	0.11	0.09	0.09	0.09	0.09	0.07	0.07	0.07
Public	1.09	1.08	1.02	0.98	1.04	1.05	1.11	1.17	1.97	1.98
Others	0	0	0	0	0	0	0	0	0	0
Total	3.14	3.14	3.14	3.14	3.14	3.14	3.14	3.14	3.14	3.14

Pros

Stock is trading at 0.8 times its book value
Stock is providing a good dividend yield of 10.4 %.
Company has a good return on equity (ROE) track record: 3 Years ROE 26%
Debtor days have improved from 45.43 to 39.31days.
Company has reduced debt.
Company is almost debt free.

Cons

Promoter holding is low: 26.69%.

* 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.

Polyplex Corporation News

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Polyplex Corporation

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Polyplex Corporation Research see more...

Overview Inc. Year: 1984Industry: Plastic Products

Polyplex Corporation Share Price

Alert Data

Quarterly Price

Peer Comparison

Polyplex Corporation Quarterly Results

Polyplex Corporation Profit & Loss

Growth Rates

Polyplex Corporation Balance Sheet

Polyplex Corporation Cash Flow

Polyplex Corporation Ratios

Polyplex Corporation Shareholding Pattern

Polyplex Corporation News

IPO

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