Polyplex Corporation Limited (IN:POLYPLEX)
:POLYPLEX
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Polyplex Corporation Limited
(POLYPLEX)
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Rating:54Neutral
Price Target:
₹931.00
▲(10.16% Upside)
Action:Reiterated
Date:05/26/26
The score is held back primarily by weakened profitability and volatile cash generation despite a revenue rebound, and by a high P/E with a low dividend yield. These are partly offset by a conservative balance sheet and a neutral-to-constructive technical setup supported by longer-term moving averages and positive MACD.
Positive Factors
Conservative balance sheet
Low and stable leverage with a D/E near 0.22 and materially higher equity since FY2021 provides durable financial flexibility. This resilience supports capital expenditure, weathering cyclical polyester markets, and preserves access to credit for strategic investments over the next 2–6 months and beyond.
Negative Factors
Margin deterioration
Material gross and net margin compression indicates weaker pricing spreads or higher input/energy costs that may persist. With net margin near trough levels, the company has limited cushion to absorb cyclical downturns, making sustained profitability and earnings recovery uncertain over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low and stable leverage with a D/E near 0.22 and materially higher equity since FY2021 provides durable financial flexibility. This resilience supports capital expenditure, weathering cyclical polyester markets, and preserves access to credit for strategic investments over the next 2–6 months and beyond.
Read all positive factors
Polyplex Corporation Limited (POLYPLEX) vs. iShares MSCI India ETF (INDA)
Market Cap
₹28.24B
Dividend Yield0.79%
Average Volume (3M)2.90K
Price to Earnings (P/E)62.8
Beta (1Y)1.07
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
Neutral
845.10
Price Trends
889.02
Positive
863.15
Positive
901.61
Negative
Market Momentum
2.24
Positive
47.68
Neutral
9.78
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:POLYPLEX, the sentiment is Neutral. The current price of 845.1 is below the 20-day moving average (MA) of 911.92, below the 50-day MA of 889.02, and below the 200-day MA of 901.61, indicating a neutral trend. The MACD of 2.24 indicates Positive momentum. The RSI at 47.68 is Neutral, neither overbought nor oversold. The STOCH value of 9.78 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
75 Outperform | ₹144.38B | 42.76 | ― | 0.37% | 0.51% | 2.12% | |
69 Neutral | ₹5.85B | 18.22 | ― | 0.37% | 11.79% | 22.61% | |
67 Neutral | ₹4.45B | 12.12 | ― | 1.53% | 1.05% | 9.68% | |
67 Neutral | ₹796.15B | 43.45 | ― | 0.24% | 7.44% | 46.73% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
57 Neutral | ₹29.32B | -11.64 | ― | 1.18% | -34.19% | -193.48% | |
54 Neutral | ₹28.24B | 62.76 | ― | 0.79% | 2.91% | -78.51% |
* Basic Materials Sector Average
IN:POLYPLEX
Polyplex Corporation Limited
899.60
-416.79
-31.66%
IN:GRWRHITECH
Garware Hi-Tech Films Limited
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IN:JINDALPOLY
Jindal Poly Films Limited
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IN:PLASTIBLEN
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171.10
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IN:PREMIERPOL
Premier Polyfilm Limited
55.83
4.89
9.60%
IN:SRF
Srf Limited
2,685.85
-388.79
-12.65%
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...
India Ratings Affirms High-Grade Credit Ratings for Polyplex Bank Facilities
Mar 10, 2026
India Ratings and Research has affirmed and assigned high-grade credit ratings to Polyplex Corporation Limited’s bank loan facilities, covering term loans and fund-based working capital limits totaling about INR 8.67 billion. The facilities ...
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.