POLYPLEX

Polyplex Corporation Limited

BOPET, BOPP, CPP and PET resin packaging films manufacturer with Ecoblue recycling technology

Industrials›Capital Goods›Industrial Products›Packaging

polyplex.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹1000.00
Market cap
3,139 Cr
Stock P/E
20.2
P/B
0.74
Dividend yield
1.5%
ROE (FY26)
0.6%
ROCE (FY26)
0.9%
Operating margin (FY26)
-0.2%
Debt / equity (FY26)
0.22
OCF / EBITDA (FY26)
153.7%
OCF / EBITDA (3Y)
101.4%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Polyplex makes polyester (BOPET) and related plastic films, plus PET resin, for packaging and industrial uses, selling to converters and brand owners in about 85 countries.

Company snapshot

5thBy market cap

Ranked among 33 companies in Packaging.

What we see

Positives
  • ✓101% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
  • ✗Net margin is very thin at 0.6% — little room for error if costs rise.
3 more signals from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales1,572 Cr1,496 Cr1,679 Cr1,686 Cr1,739 Cr1,721 Cr1,740 Cr1,739 Cr1,794 Cr1,682 Cr1,871 Cr2,254 Cr
Operating expenses (approx.)1,451 Cr1,446 Cr1,582 Cr1,522 Cr1,548 Cr1,600 Cr1,676 Cr1,739 Cr1,692 Cr1,577 Cr1,783 Cr1,957 Cr
EBITDA121 Cr50 Cr97 Cr164 Cr191 Cr121 Cr64 Cr-0.61 Cr103 Cr105 Cr88 Cr296 Cr
OPM %7.7%3.3%5.8%9.7%11.0%7.0%3.7%-0.0%5.7%6.2%4.7%13.2%
Other income24 Cr45 Cr17 Cr26 Cr100 Cr107 Cr18 Cr30 Cr23 Cr27 Cr62 Cr25 Cr
Interest10 Cr10 Cr10 Cr13 Cr11 Cr12 Cr11 Cr14 Cr13 Cr13 Cr13 Cr17 Cr
Depreciation75 Cr75 Cr82 Cr70 Cr79 Cr76 Cr76 Cr86 Cr89 Cr94 Cr94 Cr94 Cr
Profit before tax59 Cr8 Cr21 Cr107 Cr202 Cr142 Cr-6 Cr-71 Cr23 Cr25 Cr43 Cr211 Cr
Tax %18.4%-101.5%-48.5%9.6%18.8%25.7%-54.2%15.3%-42.8%-18.6%11.6%18.8%
Net profit48 Cr17 Cr31 Cr97 Cr164 Cr105 Cr-9 Cr-60 Cr34 Cr30 Cr38 Cr171 Cr
EPS (₹)₹8.90₹1.47₹2.68₹17.05₹27.97₹18.40₹3.22₹-6.15₹7.87₹4.70₹7.90₹29.00

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3,251 Cr3,588 Cr4,570 Cr4,487 Cr4,918 Cr6,624 Cr7,652 Cr6,307 Cr6,885 Cr7,086 CrSign in free for the trailing twelve months
Operating expenses (approx.)2,808 Cr3,094 Cr3,839 Cr3,706 Cr3,701 Cr5,316 Cr6,705 Cr5,942 Cr6,189 Cr6,737 CrSign in free for the trailing twelve months
EBITDA443 Cr494 Cr731 Cr781 Cr1,217 Cr1,308 Cr947 Cr365 Cr696 Cr349 CrSign in free for the trailing twelve months
OPM %13.6%13.8%16.0%17.4%24.7%19.7%12.4%5.8%10.1%4.9%Sign in free for the trailing twelve months
Other income121 Cr44 Cr164 Cr61 Cr59 Cr128 Cr95 Cr60 Cr95 Cr88 CrSign in free for the trailing twelve months
Interest47 Cr39 Cr29 Cr18 Cr18 Cr17 Cr35 Cr42 Cr46 Cr53 CrSign in free for the trailing twelve months
Depreciation197 Cr185 Cr209 Cr253 Cr280 Cr273 Cr296 Cr307 Cr300 Cr363 CrSign in free for the trailing twelve months
Profit before tax376 Cr314 Cr657 Cr640 Cr979 Cr1,147 Cr711 Cr76 Cr445 Cr20 CrSign in free for the trailing twelve months
Tax %3.9%9.5%11.1%22.9%11.9%15.9%13.4%-13.8%19.7%-100.7%Sign in free for the trailing twelve months
Net profit361 Cr284 Cr584 Cr494 Cr862 Cr965 Cr616 Cr86 Cr358 Cr41 CrSign in free for the trailing twelve months
EPS (₹)₹72.44₹49.85₹103.19₹88.18₹162.57₹181.19₹110.97₹12.05₹66.64₹14.32Sign in free for the trailing twelve months
Dividend payout %————62.9%49.6%68.3%66.6%21.2%111.9%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital33 Cr33 Cr33 Cr33 Cr32 Cr32 Cr32 Cr32 Cr32 Cr32 Cr
Reserves2,270 Cr2,516 Cr2,739 Cr2,997 Cr3,021 Cr3,284 Cr3,451 Cr3,479 Cr3,731 Cr4,208 Cr
Borrowings663 Cr739 Cr664 Cr688 Cr595 Cr940 Cr787 Cr728 Cr865 Cr917 Cr
Other liabilities506 Cr509 Cr534 Cr588 Cr773 Cr983 Cr841 Cr892 Cr912 Cr960 Cr
Total liabilities4,356 Cr4,868 Cr5,205 Cr5,762 Cr6,177 Cr7,246 Cr7,397 Cr7,431 Cr7,998 Cr8,914 Cr
Fixed assets (net)2,180 Cr2,214 Cr2,238 Cr2,821 Cr2,756 Cr3,149 Cr3,249 Cr2,998 Cr3,939 Cr4,195 Cr
CWIP10 Cr8 Cr181 Cr30 Cr325 Cr126 Cr196 Cr628 Cr36 Cr70 Cr
Investments100 Cr133 Cr126 Cr236 Cr291 Cr278 Cr278 Cr378 Cr344 Cr351 Cr
Loans & advances——15 Cr10 Cr0.47 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Inventories436 Cr567 Cr664 Cr678 Cr814 Cr1,309 Cr1,363 Cr1,346 Cr1,566 Cr1,712 Cr
Trade receivables468 Cr550 Cr601 Cr679 Cr670 Cr1,104 Cr921 Cr971 Cr1,016 Cr1,125 Cr
Cash & bank200 Cr359 Cr334 Cr444 Cr436 Cr804 Cr965 Cr463 Cr401 Cr323 Cr
Other assets961 Cr1,037 Cr1,045 Cr866 Cr884 Cr476 Cr425 Cr647 Cr695 Cr1,137 Cr
Total assets4,356 Cr4,868 Cr5,205 Cr5,762 Cr6,177 Cr7,246 Cr7,397 Cr7,431 Cr7,998 Cr8,914 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity441 Cr307 Cr551 Cr731 Cr1,102 Cr560 Cr802 Cr455 Cr438 Cr537 Cr
Cash from investing-144 Cr-126 Cr-296 Cr-405 Cr-436 Cr1 Cr-115 Cr-796 Cr-473 Cr-509 Cr
Cash from financing-436 Cr-42 Cr-312 Cr-298 Cr-660 Cr-232 Cr-657 Cr-152 Cr-38 Cr-133 Cr
Net cash flow-240 Cr159 Cr-26 Cr110 Cr-8 Cr369 Cr160 Cr-501 Cr-64 Cr-76 Cr
Free cash flow (OCF − Capex)375 Cr170 Cr179 Cr259 Cr573 Cr158 Cr529 Cr-62 Cr-65 Cr132 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %11.0%8.1%14.7%12.7%18.4%18.6%11.4%1.8%6.9%0.9%
ROE %7.3%7.8%8.2%6.3%10.6%10.7%6.0%0.7%3.4%0.6%
Debtor days52564855506144565458
Inventory days889889102125126109123132144
Days payable52463136514937494353
Cash conversion cycle89107105121123138115130143149
OCF / EBITDA %99.7%62.1%75.4%93.6%90.6%42.8%84.6%124.7%62.9%153.7%
OCF / EBITDA % (3 years)——77.9%79.2%87.4%72.4%71.0%69.3%84.4%101.4%
Debt / equity0.290.290.240.230.200.280.230.210.230.22
Current ratio1.862.082.373.292.962.813.302.972.782.59
Net debt / EBITDA1.05—0.450.310.130.10-0.190.730.671.70