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 23.7
- Book Value ₹ 1,194
- Dividend Yield 0.77 %
- ROCE 1.81 %
- ROE 1.09 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.98 times its book value
- Company has been maintaining a healthy dividend payout of 54.9%
Cons
- The company has delivered a poor sales growth of 6.66% over past five years.
- Promoter holding is low: 26.7%
- Tax rate seems low
- Company has a low return on equity of 9.48% over last 3 years.
- Promoters have pledged 99.9% of their holding.
- Earnings include an other income of Rs.188 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
Sector: Packaging Industry: Packaging
Part of BSE Allcap BSE Industrials BSE SmallCap Nifty Total Market Nifty Microcap 250
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,535 | 3,172 | 3,204 | 3,202 | 3,201 | 3,572 | 4,570 | 4,487 | 4,918 | 6,624 | 7,652 | 6,307 | 6,599 | |
| 2,347 | 3,080 | 2,919 | 2,849 | 2,758 | 3,078 | 3,838 | 3,706 | 3,701 | 5,316 | 6,705 | 5,941 | 6,098 | |
| Operating Profit | 188 | 92 | 285 | 353 | 443 | 494 | 732 | 781 | 1,217 | 1,308 | 947 | 366 | 501 |
| OPM % | 7% | 3% | 9% | 11% | 14% | 14% | 16% | 17% | 25% | 20% | 12% | 6% | 8% |
| 63 | 37 | 70 | -32 | 177 | 44 | 163 | 131 | 59 | 128 | 95 | 60 | 188 | |
| Interest | 32 | 54 | 56 | 48 | 47 | 39 | 29 | 18 | 18 | 16 | 35 | 42 | 44 |
| Depreciation | 150 | 192 | 216 | 209 | 197 | 185 | 209 | 253 | 280 | 273 | 296 | 307 | 306 |
| Profit before tax | 69 | -117 | 83 | 64 | 376 | 314 | 657 | 640 | 979 | 1,147 | 711 | 76 | 339 |
| Tax % | 4% | -55% | 6% | 75% | 4% | 9% | 11% | 23% | 12% | 16% | 13% | -14% | |
| 66 | -52 | 78 | 16 | 361 | 284 | 584 | 494 | 862 | 965 | 616 | 86 | 310 | |
| EPS in Rs | 6.64 | -2.14 | 11.87 | 9.08 | 72.44 | 49.85 | 103.18 | 88.18 | 163.04 | 181.19 | 110.97 | 12.05 | 49.17 |
| Dividend Payout % | 46% | -95% | 21% | 34% | 10% | 82% | 50% | 20% | 102% | 58% | 81% | 25% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 7% |
| 3 Years: | 9% |
| TTM: | -1% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 22% |
| 5 Years: | -35% |
| 3 Years: | -58% |
| TTM: | 117% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 19% |
| 3 Years: | -12% |
| 1 Year: | 14% |
| Return on Equity | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 11% |
| 3 Years: | 9% |
| Last Year: | 1% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 1,973 | 2,228 | 2,088 | 2,289 | 2,270 | 2,516 | 2,739 | 2,997 | 3,021 | 3,284 | 3,448 | 3,477 | 3,718 |
| 1,580 | 2,079 | 1,655 | 1,294 | 810 | 863 | 786 | 758 | 695 | 946 | 799 | 748 | 913 | |
| 1,000 | 970 | 968 | 951 | 1,243 | 1,457 | 1,648 | 1,952 | 2,420 | 2,954 | 3,094 | 3,127 | 3,362 | |
| Total Liabilities | 4,585 | 5,309 | 4,744 | 4,566 | 4,356 | 4,868 | 5,205 | 5,739 | 6,168 | 7,216 | 7,373 | 7,383 | 8,025 |
| 1,518 | 2,498 | 2,569 | 2,406 | 2,184 | 2,218 | 2,242 | 2,824 | 2,759 | 3,152 | 3,252 | 3,002 | 3,049 | |
| CWIP | 1,152 | 653 | 8 | 3 | 10 | 8 | 181 | 30 | 325 | 126 | 196 | 628 | 791 |
| Investments | 67 | 66 | 16 | 1 | 100 | 133 | 123 | 233 | 288 | 276 | 275 | 374 | 345 |
| 1,848 | 2,092 | 2,151 | 2,157 | 2,062 | 2,509 | 2,658 | 2,652 | 2,796 | 3,663 | 3,650 | 3,379 | 3,840 | |
| Total Assets | 4,585 | 5,309 | 4,744 | 4,566 | 4,356 | 4,868 | 5,205 | 5,739 | 6,168 | 7,216 | 7,373 | 7,383 | 8,025 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 72 | 114 | 376 | 448 | 441 | 307 | 551 | 731 | 1,102 | 560 | 802 | 455 | |
| -1,038 | -391 | -0 | 86 | -246 | -106 | -265 | -323 | -451 | 41 | 16 | -804 | |
| 862 | 311 | -234 | -473 | -436 | -42 | -312 | -298 | -660 | -232 | -657 | -152 | |
| Net Cash Flow | -104 | 33 | 142 | 61 | -240 | 159 | -26 | 110 | -8 | 369 | 160 | -501 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 50 | 47 | 46 | 49 | 53 | 56 | 48 | 55 | 50 | 61 | 44 | 56 |
| Inventory Days | 100 | 86 | 82 | 78 | 88 | 103 | 92 | 105 | 133 | 141 | 110 | 126 |
| Days Payable | 46 | 34 | 38 | 36 | 52 | 48 | 32 | 37 | 55 | 55 | 38 | 51 |
| Cash Conversion Cycle | 103 | 99 | 90 | 92 | 90 | 110 | 107 | 123 | 128 | 147 | 116 | 132 |
| Working Capital Days | 63 | 52 | 64 | 65 | 58 | 78 | 73 | 83 | 80 | 97 | 88 | 106 |
| ROCE % | 3% | -1% | 4% | 4% | 9% | 8% | 15% | 12% | 19% | 20% | 12% | 2% |
Documents
Announcements
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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
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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
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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
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Financial Year 2024
from bse
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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
from bse
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Financial Year 2012
from nse
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Financial Year 2012
from bse
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Financial Year 2011
from bse
Concalls
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Nov 2024TranscriptNotesPPT
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Sep 2024TranscriptNotesPPT
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Aug 2024TranscriptNotesPPT
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May 2024TranscriptNotesPPT
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Feb 2024TranscriptNotesPPT
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Nov 2023TranscriptNotesPPT
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Nov 2022TranscriptNotesPPT
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Nov 2021TranscriptNotesPPT
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Sep 2021TranscriptNotesPPT
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May 2021TranscriptNotesPPT
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Feb 2021TranscriptNotesPPT
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Nov 2020TranscriptNotesPPT
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Aug 2020TranscriptNotesPPT
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Aug 2020TranscriptNotesPPT
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May 2020TranscriptNotesPPT
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Feb 2020TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
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Oct 2019TranscriptNotesPPT
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Sep 2019TranscriptNotesPPT
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Aug 2019TranscriptNotesPPT
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May 2019TranscriptNotesPPT
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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.