POLYPLEXIndustrials

Polyplex Corporation Limited

Packaging · ISIN INE633B01018 · BSE 524051 · NSE EQ · FV ₹10
Last price
₹1,085
+0.48%today
What this company does

Polyplex Corporation Limited operates in Packaging, part of the Industrials sector. It booked ₹2,254 cr of revenue in its latest quarter (Q1 FY27) and kept 4.0% of sales as profit. It is the 5th largest of 9 Packaging companies we track, by market value.

Global Player in Polymeric Film Manufacturing Polyplex is a leading global manufacturer of polymeric films, including BOPET (thin and thick), BOPP, CPP and Blown PP/PE. It has the seventh largest polyester (PET) film production capacity worldwide. The Company has over three decades of expertise in offering innovative, differentiated solutions across packaging, electronics and industrial applications.
In the report:
65out of 100
Equitytale Health Score
Solid

Healthier than 65% of companies in Industrials, on all six measures of filed financials. Each measure is ranked against the 129–290 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
37

At close. Not part of the score.

Profitability & returns44

How much profit it earns on the money it employs

Balance sheet74

How much it owes, and whether earnings cover the interest

Cash quality81

Whether reported profit actually arrives as cash

Growth & consistency33

Whether sales and profit have grown, and how steadily

Valuation88

What today's price implies, against our models or its peers

Governance & risk86

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 30% vs last year
No promoter shares pledged
Turns profit into real cash
Watch-outs
! Thin 4.0% net margin

What if I invest in POLYPLEX?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹1,085 +0.48%
latest close · 2026-09-17
1-year return
-26.9%
52-wk low ₹1,05552-wk high ₹2,870
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio9.4Low
LowAverageHigh
P/B ratio0.80Below book
Below bookModerateHigh
EV / EBITDA3.1Low
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity8.6%Fair
WeakFairStrong ▸15%
Return on capital12.5%Fair
WeakFairStrong
Net margin4.0%Thin
ThinDecentStrong
EBITDA margin14.3%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.13Comfortable
LowModerateHigh ▸1
Interest cover13.5×Strong
RiskyOkayStrong ▸5×
Current ratio2.59Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹3,406 cr
Book value
₹1,351
EPS
₹29.00
latest quarter
Net debt
₹594 cr
owes more than its cash
Enterprise value
₹3,999 cr
EBITDA
₹1,288 cr
annualised
EBIT
₹910 cr
annualised
Operating margin
10.1%
Return on assets
4.1%
Earnings yield
10.69%
P/S
0.38
Sales / share
₹2,871.8
Tax rate
18.8%
Face value
₹10
Shares
3.1 cr
Working capital
₹2,558 cr
Current assets
₹4,163 cr
Current liabilities
₹1,605 cr
Delivery %
61.1%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
It earns about 2% on its capital — below the ~14% return we'd require to fund it — so a low price is likely justified, not a bargain.
Models span ₹696₹1,721, midpoint ₹1,349

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹2,254 cr
Other Income₹25 cr
Total Income₹2,279 cr
Cost of Materials₹1,391 cr
Purchases of Stock-in-Trade₹54 cr
Inventory Change (±)₹-142 cr
Employee Benefit Expense₹217 cr
Finance Costs₹17 cr
Depreciation & Amortisation₹94 cr
Other Expenses₹437 cr
Total Expenses₹2,068 cr
Profit before Tax₹211 cr
Tax Expense₹40 cr
Net Profit₹171 cr
Net margin on total income7.5%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹1,304 cr57.2%
Employee benefit expense₹217 cr9.5%
Finance costs₹17 cr0.7%
Depreciation & amortisation₹94 cr4.1%
Other expenses₹437 cr19.2%
Tax expense₹40 cr1.7%
Profit for the period₹171 cr7.5%
Total income ₹2,279 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue1,682 cr1,871 cr2,254 cr
Total income1,710 cr1,933 cr2,279 cr
Expenses1,685 cr1,890 cr2,068 cr
Profit before tax25 cr43 cr211 cr
Tax-5 cr5 cr40 cr
Net profit (owners' share)15 cr25 cr91 cr
Net margin (owners' share, on revenue)0.9%1.3%4.0%
EPS (₹)4.707.9029.00
YoY (latest quarter): total income +28.9% · net profit
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹8,914 cr
Shareholder equity
₹4,240 cr
parent shareholders
Total debt
₹917 cr
Cash
₹323 cr
Cash flow · H1 FY26
Operating
₹308 cr
Investing
₹-178 cr
Financing
₹-18 cr
Peer comparison
Packaging · by market value
CompanyPriceMarket capP/E
EPL Limited₹231₹7,416 cr18.8
AGI Greenpac Limited₹734₹4,747 cr11.9
UFLEX Limited₹653₹4,715 cr2.8
TCPL Packaging Limited₹3,863₹3,516 cr22.0
Polyplex Corporation Limitedthis company₹1,085₹3,406 cr9.4
Jindal Poly Films Limited₹726₹3,179 cr9.1
Xpro India Limited₹1,236₹2,901 cr91.4
COSMO FIRST LIMITED₹880₹2,310 cr10.6
Mold-Tek Packaging Limited₹662₹2,069 cr29.1
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.28%
trailing 12 months
Dividend / share (TTM)
₹3
Last dividend
₹1
ex 8 Sep 2026
ActionDetailEx-date
Dividend₹1 / share8 Sep 2026
Dividend₹2 / share21 Nov 2025
Dividend₹4.5 / share15 Sep 2025
Dividend₹9 / share26 Nov 2024
Dividend₹1 / share20 Sep 2024
Dividend₹2 / share17 Nov 2023
Who owns it · 2026-06-30
No pledge
Promoter
26.7%
FII / Foreign
10.2%
DII / Domestic
2.9%
Retail / others
60.2%
Promoter stake down 24.2% over the last 12 quarters.
Smart-money activity
Insider trades
SoldUTKARSH TRADING AND HOLDINGS LIMITED · Promoter Group14.02 L · ₹168.3 cr30 May 24
BoughtSECURE INVESTMENTS LIMITED · Promoter Group14.02 L · ₹168.3 cr30 May 24
SoldMahalaxmi Trading & Investment Company Limited · Promoter Group76.21 L · ₹1188.9 cr9 Nov 23
Bulk / block deals
short · NSE323 Sep 26
short · NSE4825 Aug 26
short · NSE210 Aug 26
Stake changes
BoughtRicky Kirpalani→ 5.04% · 7.75 L3 Oct 25
BoughtSecure Investments Limited · promoter→ 22.10% · 14.02 L31 May 24
BoughtAGP Hold Co Limited→ 23.83% · 76.21 L9 Nov 23
Promoter pledges
ReleasedAGP HoldCO Limited76.21 L · 24.28% held9 Nov 23
PledgedAGP HoldCo Limited6.07 L · 0.00% held3 Oct 23
PledgedAGP HoldCo Limited3.25 L · 0.00% held3 Oct 23
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 8 Sep 2026
See the official result
1
Adoption of (a) Standalone Audited Financial Statements of the Company for the Financial Year ended March 31, 2026 together with Reports of the Auditors and Directors thereon; and (b) Consolidated Audited Financial Statements of the Company for the Financial Year ended March 31, 2026 together with Report of the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
94.94 L votes for, 151 against · 0% of mutual funds and other big investors said no
2
Declaration of Final Dividend of INR 1/- per equity share for the Financial Year 2025-26.
Backed by 100% of shareholders other than promotersneeded 50%
95.12 L votes for, 163 against · 0% of mutual funds and other big investors said no
3
Re-appointment of Mr. Iyad Malas (DIN: 10381216) as a Director liable to retire by rotation.
Backed by 99% of shareholders other than promotersneeded 50%
94.38 L votes for, 74,737 against · 1% of mutual funds and other big investors said no
4
Approval and ratification of remuneration payable to M/s. Sanjay Gupta & Associates, Cost Accountants (Firm Registration No. 000212) for the Financial Year 2026-27.
Backed by 100% of shareholders other than promotersneeded 50%
95.12 L votes for, 157 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 63 named members
owning 26.7% between them · as of 2026-06-30
Secure Investments Limited22.10%
Bhilangana Hydro Power Limited1.93%
Sakhi Saraf1.82%
Amla Saraf0.83%
Huma Khalil0.03%
Sanjiv Chadha0.01%
A.D. Holdings Limitedno shares
Adnan Khalilno shares
Business done with them
FY2025 · 8 of the group
The company paid ₹9 cr to companies in the promoter group last year — about 0.1% of its ₹6,885 cr revenue and received ₹7.2 L back from them.
Secure Investments Limited
Other payments to them · Dividend paid
also owns 22.10% of the company
₹7 cr
company paid
Bhilangana Hydro Power Limited
Other payments to them · Rental income from investment property, Expenses recovered from related party
also owns 1.93% of the company
₹60.7 L
company paid
Ms. Sakhi Saraf
Other payments to them · Dividend paid
also owns 1.82% of the company
₹57 L
company paid
Mr. Sanjiv Chadha
Other payments to them · Sitting fees,Directors commission, Dividend paid
also owns 0.01% of the company
₹34.4 L
company paid
Ms. Amla Saraf
Other payments to them · Dividend paid
also owns 0.83% of the company
₹25.9 L
company paid
Bhilangana Hydro Power Limited
Leases As Lessor · Rental income from investment property, Expenses recovered from related party
also owns 1.93% of the company
₹9.2 L
company received
Bhilangana Hydro Power Limited
Other income from them · Rental income from investment property, Expenses recovered from related party
also owns 1.93% of the company
₹7.2 L
company received
SANJIV SARITA CONSULTING PRIVATE LIMITED
Other payments to them · Dividend paid
₹0.1 L
company paid
Mahalaxmi Trading and Investment Company Limited
Other payments to them · Dividend paid
₹0.1 L
company paid
Mr. Sanjiv Saraf
Other payments to them · Dividend paid duirng the year
₹0.01 L
company paid

The company also transacted with 25 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.