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Polyplex Corporation Limited
(POLYPLEX)
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Rating:56Neutral
Price Target:
₹1,071.00
▲(26.73% Upside)
Action:Reiterated
Date:06/25/26
The score is driven primarily by weakened profitability and inconsistent cash conversion despite a resilient, low-leverage balance sheet. Technicals are supportive with a clear uptrend, but overbought signals temper the outlook. Valuation is a notable headwind given the very high P/E and low dividend yield.
Positive Factors
Low leverage and strong capital base
A low and stable debt-to-equity (~0.22 in FY2026) and growing equity provide balance-sheet resilience for a cyclical specialty-chemicals manufacturer. This structural financial strength supports capex, refinancing flexibility and downside protection across cycles over the next 2–6 months.
Negative Factors
Severely compressed margins
Material margin compression versus prior years indicates weaker pricing spreads or higher input/energy costs that are not being passed through. Persistently lower gross and net margins erode operating leverage and long-term profitability, constraining reinvestment and return generation over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage and strong capital base
A low and stable debt-to-equity (~0.22 in FY2026) and growing equity provide balance-sheet resilience for a cyclical specialty-chemicals manufacturer. This structural financial strength supports capex, refinancing flexibility and downside protection across cycles over the next 2–6 months.
Read all positive factors
Polyplex Corporation Limited (POLYPLEX) vs. iShares MSCI India ETF (INDA)
Market Cap
₹29.87B
Dividend Yield0.79%
Average Volume (3M)2.90K
Price to Earnings (P/E)66.5
Beta (1Y)1.08
Revenue Growth2.91%
EPS Growth-78.51%
CountryIN
Employees534
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)23.34
Shares Outstanding31,392,462
10 Day Avg. Volume2,964
30 Day Avg. Volume2,896
Financial Highlights & Ratios
PEG Ratio-0.67
Price to Book (P/B)0.55
Price to Sales (P/S)0.33
P/FCF Ratio20.11
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Polyplex Corporation Limited Business Overview & Revenue Model
Company Description
Polyplex Corporation Limited, established in Noida, India in 1984, is a global manufacturer and distributor specializing in polyester (PET) films, primarily catering to the flexible packaging industry. The company's diverse product portfolio inclu...
How the Company Makes Money
Polyplex makes money primarily by manufacturing and selling polyester films, with revenue largely driven by volumes sold and the per-unit selling price (often linked to polyester/PET feedstock and energy costs, plus a margin). Its key revenue stre...
Polyplex Corporation Limited Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
72
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 69.93B | 70.86B | 68.85B | 62.94B | 76.40B | 66.07B |
| Gross Profit | 18.68B | 10.28B | 11.85B | 14.65B | 20.86B | 24.61B |
| EBITDA | 4.65B | 6.40B | 7.91B | 4.22B | 10.42B | 14.36B |
| Net Income | 732.70M | 449.50M | 2.09B | 378.32M | 3.48B | 5.69B |
Balance Sheet | ||||||
| Total Assets | 86.16B | 89.14B | 79.98B | 74.31B | 73.97B | 72.46B |
| Cash, Cash Equivalents and Short-Term Investments | 10.89B | 10.59B | 8.45B | 7.85B | 10.98B | 10.39B |
| Total Debt | 9.68B | 9.35B | 8.82B | 7.48B | 7.99B | 9.46B |
| Total Liabilities | 19.24B | 18.77B | 17.77B | 16.20B | 16.27B | 19.23B |
| Stockholders Equity | 40.40B | 42.40B | 37.63B | 35.11B | 34.83B | 33.16B |
Cash Flow | ||||||
| Free Cash Flow | 622.80M | 1.17B | -823.10M | -619.32M | 5.29B | 1.58B |
| Operating Cash Flow | 3.08B | 5.22B | 4.20B | 4.55B | 8.02B | 5.60B |
| Investing Cash Flow | -1.78B | -5.48B | -5.12B | -7.96B | -1.15B | 10.61M |
| Financing Cash Flow | -182.70M | -792.40M | 192.10M | -1.52B | -6.57B | -2.32B |
Polyplex Corporation Limited Technical Analysis
Positive
845.10
Price Trends
921.47
Positive
877.97
Positive
895.45
Positive
Market Momentum
20.12
Negative
59.79
Neutral
65.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:POLYPLEX, the sentiment is Positive. The current price of 845.1 is below the 20-day moving average (MA) of 932.88, below the 50-day MA of 921.47, and below the 200-day MA of 895.45, indicating a bullish trend. The MACD of 20.12 indicates Negative momentum. The RSI at 59.79 is Neutral, neither overbought nor oversold. The STOCH value of 65.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:POLYPLEX.
Polyplex Corporation Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹7.15B | 22.30 | ― | 0.37% | 11.79% | 22.61% | |
68 Neutral | ₹155.32B | 45.87 | ― | 0.37% | 0.51% | 2.12% | |
67 Neutral | ₹4.69B | 12.83 | ― | 1.53% | 1.05% | 9.68% | |
67 Neutral | ₹811.76B | 44.24 | ― | 0.24% | 7.44% | 46.73% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
57 Neutral | ₹27.36B | -10.79 | ― | 1.18% | -34.19% | -193.48% | |
56 Neutral | ₹29.87B | 66.45 | ― | 0.79% | 2.91% | -78.51% |
* Basic Materials Sector Average
IN:POLYPLEX
Polyplex Corporation Limited
951.55
-245.95
-20.54%
IN:GRWRHITECH
Garware Hi-Tech Films Limited
6,685.45
2,617.82
64.36%
IN:JINDALPOLY
Jindal Poly Films Limited
624.75
20.01
3.31%
IN:PLASTIBLEN
Plastiblends India Limited
180.65
-26.32
-12.72%
IN:PREMIERPOL
Premier Polyfilm Limited
68.28
16.52
31.92%
IN:SRF
Srf Limited
2,738.50
-503.06
-15.52%
Polyplex Corporation Limited Corporate Events
Polyplex announces cessation of independent director Ranjit Singh in May 2026
May 12, 2026
Polyplex Corporation Limited has announced that non-executive independent director Ranjit Singh will step down from the board with effect from May 11, 2026, following the completion of his second five-year term. The move represents a planned board...
Polyplex to Acquire 26% Stake in SPV for Solar Power at Uttarakhand Plants
Mar 25, 2026
Polyplex Corporation Limited’s board has approved an investment of up to Rs. 110 lakh in equity shares of BECIS Solar 1 Private Limited, a Pune-based special purpose vehicle set up to develop solar power projects for the company. The deal wi...
Polyplex to Acquire 49% Stake in Solar SPV to Power Uttarakhand Plants
Mar 25, 2026
Polyplex Corporation Limited has approved an investment of up to Rs. 1,100 lakh for acquiring around 49% equity in Clean Max Neht Private Limited, a Mumbai-based special purpose vehicle in the renewable energy sector. The stake will support a sola...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.