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 ₹ 3,654 Cr.
- Current Price ₹ 1,165
- High / Low ₹ 1,376 / 752
- Stock P/E 4,457
- Book Value ₹ 219
- Dividend Yield 0.77 %
- ROCE -1.38 %
- ROE -1.35 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 38.2%
- Company has been maintaining a healthy dividend payout of 19.0%
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 0.96% over past five years.
- Promoter holding is low: 26.7%
- Company might be capitalizing the interest cost
- Promoters have pledged 99.9% of their holding.
- Earnings include an other income of Rs.35.5 Cr.
- Debtor days have increased from 38.9 to 49.8 days.
- 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
Sector: Packaging Industry: Packaging
Part of BSE Allcap BSE Industrials BSE SmallCap Nifty Total Market Nifty Microcap 250
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 948 | 1,119 | 1,052 | 968 | 944 | 1,089 | 1,348 | 1,273 | 1,299 | 1,785 | 1,648 | 1,414 | 1,457 | |
| 893 | 1,024 | 953 | 879 | 867 | 1,010 | 1,202 | 1,123 | 1,078 | 1,514 | 1,535 | 1,415 | 1,439 | |
| Operating Profit | 55 | 94 | 99 | 89 | 77 | 79 | 145 | 150 | 221 | 271 | 113 | -2 | 18 |
| OPM % | 6% | 8% | 9% | 9% | 8% | 7% | 11% | 12% | 17% | 15% | 7% | -0% | 1% |
| 50 | 23 | 17 | 8 | 50 | 64 | 192 | 220 | 339 | 337 | 257 | 37 | 36 | |
| Interest | 22 | 20 | 16 | 8 | 19 | 16 | 5 | 3 | 3 | 2 | 1 | 3 | 6 |
| Depreciation | 78 | 73 | 77 | 65 | 53 | 48 | 45 | 55 | 57 | 51 | 48 | 46 | 47 |
| Profit before tax | 5 | 24 | 23 | 25 | 55 | 79 | 287 | 313 | 499 | 555 | 321 | -14 | -0 |
| Tax % | -5% | -38% | 13% | -8% | 17% | 26% | 21% | 27% | 9% | 11% | 8% | -33% | |
| 5 | 33 | 20 | 27 | 46 | 59 | 228 | 230 | 453 | 491 | 295 | -9 | 1 | |
| EPS in Rs | 1.60 | 10.20 | 6.23 | 8.43 | 14.29 | 18.42 | 71.31 | 71.85 | 144.43 | 156.55 | 93.85 | -2.88 | 0.25 |
| Dividend Payout % | 191% | 20% | 41% | 36% | 50% | 221% | 73% | 24% | 116% | 68% | 95% | -106% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 2% |
| 5 Years: | 1% |
| 3 Years: | 3% |
| TTM: | 1% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | -99% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 19% |
| 3 Years: | -12% |
| 1 Year: | 14% |
| Return on Equity | |
|---|---|
| 10 Years: | 34% |
| 5 Years: | 46% |
| 3 Years: | 38% |
| Last Year: | -1% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 33 | 33 | 33 | 33 | 33 | 33 | 33 | 33 | 32 | 32 | 32 | 32 | 32 |
| Reserves | 343 | 368 | 381 | 398 | 408 | 439 | 523 | 584 | 525 | 700 | 660 | 634 | 655 |
| 397 | 412 | 323 | 179 | 205 | 218 | 218 | 167 | 161 | 88 | 26 | 111 | 156 | |
| 66 | 57 | 55 | 66 | 41 | 60 | 70 | 76 | 111 | 90 | 73 | 68 | 96 | |
| Total Liabilities | 839 | 870 | 791 | 677 | 687 | 750 | 843 | 859 | 829 | 910 | 791 | 845 | 938 |
| 520 | 493 | 462 | 416 | 353 | 319 | 330 | 360 | 327 | 314 | 293 | 286 | 279 | |
| CWIP | 10 | 30 | 1 | 2 | 0 | 2 | 4 | 5 | 5 | 7 | 10 | 2 | 3 |
| Investments | 20 | 25 | 35 | 20 | 47 | 47 | 55 | 119 | 49 | 82 | 47 | 49 | 47 |
| 290 | 322 | 294 | 239 | 287 | 381 | 454 | 374 | 447 | 507 | 441 | 508 | 609 | |
| Total Assets | 839 | 870 | 791 | 677 | 687 | 750 | 843 | 859 | 829 | 910 | 791 | 845 | 938 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -25 | 64 | 138 | 144 | 16 | 12 | 33 | 155 | 157 | 142 | 158 | -44 | |
| 24 | -31 | -43 | 9 | -25 | 22 | 111 | 68 | 351 | 271 | 225 | -8 | |
| -44 | -38 | -91 | -157 | 6 | -33 | -144 | -221 | -498 | -410 | -386 | 56 | |
| Net Cash Flow | -45 | -5 | 5 | -5 | -3 | 1 | -0 | 2 | 10 | 2 | -2 | 4 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 32 | 35 | 36 | 24 | 32 | 39 | 47 | 41 | 40 | 40 | 27 | 50 |
| Inventory Days | 62 | 55 | 47 | 49 | 69 | 68 | 67 | 66 | 73 | 67 | 68 | 72 |
| Days Payable | 5 | 3 | 5 | 7 | 6 | 8 | 9 | 7 | 13 | 10 | 8 | 7 |
| Cash Conversion Cycle | 89 | 86 | 78 | 66 | 95 | 99 | 105 | 99 | 100 | 97 | 87 | 115 |
| Working Capital Days | 54 | 58 | 50 | 34 | 60 | 80 | 84 | 71 | 78 | 78 | 72 | 103 |
| ROCE % | 3% | 6% | 5% | 6% | 12% | 14% | 40% | 41% | 67% | 72% | 42% | -1% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
13 Nov - Newspaper publication of Unaudited Financial Results for the quarter and half year ended September 30, 2024
-
Announcement under Regulation 30 (LODR)-Investor Presentation
13 Nov - Investor Presentation on Unaudited Financial Results for the Quarter and Half year ended September 30, 2024
- Record Date 26Th November, 2024 For The Purpose Of Interim Dividend 2024-25 12 Nov
- Record Date 26Th November, 2024 For The Purpose Of Interim Dividend 2024-25 12 Nov
-
Board Meeting Outcome for Record Date For The Purpose Of Interim Dividend 2024-25
12 Nov - Approval of unaudited financial results and interim dividend.
Annual reports
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from nse
-
Financial Year 2012
from bse
-
Financial Year 2011
from bse
Concalls
-
Nov 2024TranscriptNotesPPT
-
Sep 2024TranscriptNotesPPT
-
Aug 2024TranscriptNotesPPT
-
May 2024TranscriptNotesPPT
-
Feb 2024TranscriptNotesPPT
-
Nov 2023TranscriptNotesPPT
-
Aug 2023TranscriptNotesPPT
-
May 2023TranscriptNotesPPT
-
Feb 2023TranscriptNotesPPT
-
Nov 2022TranscriptNotesPPT
-
Sep 2022TranscriptNotesPPT
-
Aug 2022TranscriptNotesPPT
-
May 2022TranscriptNotesPPT
-
Feb 2022TranscriptNotesPPT
-
Nov 2021TranscriptNotesPPT
-
Sep 2021TranscriptNotesPPT
-
Aug 2021TranscriptNotesPPT
-
May 2021TranscriptNotesPPT
-
Feb 2021TranscriptNotesPPT
-
Nov 2020TranscriptNotesPPT
-
Aug 2020TranscriptNotesPPT
-
Aug 2020TranscriptNotesPPT
-
May 2020TranscriptNotesPPT
-
Feb 2020TranscriptNotesPPT
-
Nov 2019TranscriptNotesPPT
-
Oct 2019TranscriptNotesPPT
-
Sep 2019TranscriptNotesPPT
-
Aug 2019TranscriptNotesPPT
-
May 2019TranscriptNotesPPT
-
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.