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Polyplex Corporation Overview

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 pr...Read More

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Polyplex Corporation Key Financials

Market Cap ₹2729 Cr.

Stock P/E 7.6

P/B 0.7

Current Price ₹869.4

Book Value ₹ 1296.2

Face Value 10

52W High ₹1396.8

Dividend Yield 1.55%

52W Low ₹ 743

Polyplex Corporation Share Price

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Volume
Price

Polyplex Corporation Quarterly Price

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Polyplex Corporation Peer Comparison

Polyplex Corporation Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 1572 1496 1679 1686 1739 1721 1740 1739 1794 1682
Other Income 24 45 17 26 100 107 18 30 23 27
Total Income 1596 1540 1695 1712 1839 1829 1757 1768 1817 1710
Total Expenditure 1451 1446 1582 1522 1548 1600 1676 1739 1692 1577
Operating Profit 144 94 113 190 291 229 82 29 125 132
Interest 10 10 10 13 11 12 11 14 13 13
Depreciation 75 75 82 70 79 76 76 86 89 94
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 59 8 21 107 202 142 -6 -71 23 25
Provision for Tax 11 -9 -10 10 38 36 3 -11 -10 -5
Profit After Tax 48 17 31 97 164 105 -9 -60 34 30
Adjustments -20 -12 -23 -44 -76 -47 19 41 -9 -15
Profit After Adjustments 28 5 8 54 88 58 10 -19 25 15
Adjusted Earnings Per Share 8.9 1.5 2.7 17.1 28 18.4 3.2 -6.2 7.9 4.7

Polyplex Corporation Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 3204 3202 3201 3572 4570 4487 4918 6624 7652 6307 6885 6955
Other Income 118 34 121 44 164 61 59 128 95 60 95 98
Total Income 3322 3236 3322 3617 4733 4549 4977 6752 7747 6367 6981 7052
Total Expenditure 2920 2849 2758 3078 3839 3706 3701 5316 6705 5942 6189 6684
Operating Profit 402 387 563 538 895 842 1276 1436 1042 425 791 368
Interest 56 48 47 39 29 18 18 17 35 42 46 51
Depreciation 216 209 197 185 209 253 280 273 296 307 300 345
Exceptional Income / Expenses -48 -66 56 0 0 69 0 0 0 0 0 0
Profit Before Tax 83 64 376 314 657 640 979 1147 711 76 445 -29
Provision for Tax 5 48 15 30 73 146 117 182 95 -10 88 -23
Profit After Tax 78 16 361 284 584 494 862 965 616 86 358 -5
Adjustments -40 13 -130 -125 -254 -212 -350 -396 -267 -49 -149 36
Profit After Adjustments 38 29 232 159 330 282 512 569 348 38 209 31
Adjusted Earnings Per Share 11.9 9.1 72.4 49.9 103.2 88.2 163 181.2 111 12.1 66.6 9.6

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 9% 1% 9% 8%
Operating Profit CAGR 86% -18% -1% 7%
PAT CAGR 316% -28% -6% 16%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -31% -11% -0% 14%
ROE Average 10% 10% 18% 15%
ROCE Average 11% 10% 17% 14%

Polyplex Corporation Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 2121 2321 2302 2548 2771 3029 3053 3316 3483 3511 3763
Minority's Interest 659 635 885 1072 1235 1457 1755 2006 2286 2300 2458
Borrowings 973 714 411 255 245 431 366 478 373 354 345
Other Non-Current Liabilities -57 -20 -43 -39 -40 40 79 118 120 81 83
Total Current Liabilities 985 889 775 1021 1028 931 1111 1537 1136 1136 1305
Total Liabilities 4681 4540 4329 4857 5240 5889 6363 7455 7398 7383 7954
Fixed Assets 2569 2406 2181 2215 2239 2821 2756 3149 3249 2998 3940
Other Non-Current Assets 35 37 732 560 685 345 701 422 464 1011 382
Total Current Assets 2076 2096 1416 2082 2316 2723 2906 3884 3685 3375 3632
Total Assets 4681 4540 4329 4857 5240 5889 6363 7455 7398 7383 7954

Polyplex Corporation Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 933 1074 440 200 359 334 444 436 804 965 463
Cash Flow from Operating Activities 376 448 441 307 551 731 1102 560 802 455 438
Cash Flow from Investing Activities 84 -20 -144 -126 -296 -405 -436 1 -115 -796 -473
Cash Flow from Financing Activities -234 -473 -436 -42 -312 -298 -660 -232 -657 -152 -38
Net Cash Inflow / Outflow 226 -46 -138 139 -57 28 7 329 30 -493 -73
Closing Cash & Cash Equivalent 1074 1135 200 359 334 444 436 804 965 463 399

Polyplex Corporation Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 11.86 9.08 72.44 49.85 103.18 88.18 163.03 181.19 110.97 12.05 66.64
CEPS(Rs) 91.76 70.41 174.46 146.67 247.86 233.6 363.71 394.15 290.46 125.35 209.51
DPS(Rs) 2.5 3 7 40 51 17 164 104 88 3 13.5
Book NAV/Share(Rs) 662.58 725.31 719.66 796.52 866.25 946.92 972.4 1056.25 1109.3 1118.28 1198.57
Core EBITDA Margin(%) 8.72 10.86 13.62 13.49 15.74 17.08 24.22 19.44 12.25 5.71 10.02
EBIT Margin(%) 4.25 3.45 13.02 9.64 14.76 14.4 19.82 17.29 9.65 1.85 7.07
Pre Tax Margin(%) 2.54 1.97 11.57 8.57 14.13 14.01 19.47 17.05 9.19 1.19 6.41
PAT Margin (%) 2.39 0.5 11.12 7.75 12.56 10.8 17.15 14.34 7.96 1.35 5.15
Cash Profit Margin (%) 9.01 6.92 17.16 12.8 17.06 16.35 22.72 18.39 11.79 6.16 9.47
ROA(%) 1.57 0.35 8.15 6.19 11.56 8.87 14.07 13.96 8.29 1.17 4.66
ROE(%) 3.55 0.73 15.64 11.72 21.95 17.03 28.35 30.3 18.11 2.47 9.84
ROCE(%) 3.42 3.04 12.58 10.83 19.68 17.92 26.45 29.08 17.5 2.78 11.08
Receivable days 45.45 46.68 50.41 50.72 45.19 51.11 49.01 48.13 47.81 54.06 52.21
Inventory Days 53.55 47.35 47.45 49.92 48.32 53.58 54.19 57.59 63.07 77.38 76.5
Payable days 38.38 39.85 44.62 47.42 34.67 36.93 46.8 45.43 39.31 47.1 46.82
PER(x) 15.93 22.84 5.78 9.3 5.01 3.4 5.28 13.39 10.3 63.6 17.93
Price/Book(x) 0.29 0.29 0.58 0.58 0.6 0.32 0.88 2.3 1.03 0.69 1
Dividend Yield(%) 1.32 1.45 1.67 8.62 9.87 5.68 19.06 4.29 7.7 0.39 1.13
EV/Net Sales(x) 0.37 0.26 0.55 0.44 0.36 0.17 0.5 1.15 0.44 0.39 0.56
EV/Core EBITDA(x) 2.95 2.13 3.13 2.91 1.85 0.9 1.91 5.33 3.26 5.71 4.91
Net Sales Growth(%) 1.01 -0.07 -0.03 11.6 27.92 -1.81 9.61 34.69 15.52 -17.58 9.17
EBIT Growth(%) 321.46 -19 276.98 -16.5 94.1 -4.02 51.33 16.79 -35.87 -84.15 315.45
PAT Growth(%) 249.45 -79.1 2124.34 -21.38 105.43 -15.39 74.55 11.93 -36.2 -85.97 314.09
EPS Growth(%) 655.29 -23.48 697.94 -31.18 106.98 -14.54 84.89 11.13 -38.76 -89.14 453
Debt/Equity(x) 0.78 0.56 0.35 0.34 0.28 0.25 0.23 0.28 0.23 0.21 0.23
Current Ratio(x) 2.11 2.36 1.83 2.04 2.25 2.93 2.62 2.53 3.24 2.97 2.78
Quick Ratio(x) 1.67 1.9 1.27 1.48 1.61 2.2 1.88 1.68 2.04 1.78 1.59
Interest Cover(x) 2.48 2.33 9 8.96 23.58 36.53 56.67 70.49 21.16 2.79 10.66
Total Debt/Mcap(x) 2.74 1.95 0.6 0.58 0.48 0.79 0.26 0.12 0.22 0.3 0.23

Polyplex Corporation Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 26.69 26.69 26.69 26.69 26.69 26.69 26.73 26.73 26.73 26.73
FII 8.29 7.93 7.08 7.39 7.82 7.67 7.1 9.31 8.97 9.9
DII 2.27 2.3 2.43 2.81 3.25 2.82 2.95 2.78 2.9 2.91
Public 62.74 63.08 63.79 63.1 62.23 62.81 63.23 61.18 61.4 60.46
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Polyplex Corporation News

Polyplex Corporation Pros & Cons

Pros

  • Stock is trading at 0.7 times its book value
  • Debtor days have improved from 47.1 to 46.82days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 26.73%.
  • Company has a low return on equity of 10% over the last 3 years.
  • The company has delivered a poor profit growth of -6% over past five years.
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