BSE: 524051 | NSE: POLYPLEX | Plastic Products | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Polyplex Corporation Ltd is a average quality company.
The key valuation ratios of Polyplex Corporation Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Polyplex Corporation Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 5% | 4.9% | 11.9% | 14.3% | 39.9% | 40.6% | 66.9% | 72.4% | 41.8% | -1.4% | - |
| Value Creation Index ⓘ | -0.6 | -0.7 | -0.2 | 0.0 | 1.9 | 1.9 | 3.8 | 4.4 | 2.0 | -1.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 1,052 | 968 | 944 | 1,089 | 1,348 | 1,273 | 1,299 | 1,785 | 1,648 | 1,414 | 1,457 |
| Sales YoY Gr. | - | -8% | -2.6% | 15.4% | 23.8% | -5.6% | 2.1% | 37.4% | -7.7% | -14.2% | - |
| Adj EPS ⓘ | 6 | 8.2 | 9.9 | 17.6 | 70.4 | 70.8 | 143.6 | 154.8 | 91.4 | -4.5 | 0.3 |
| YoY Gr. | - | 37.9% | 20.4% | 77.3% | 300.6% | 0.5% | 102.9% | 7.8% | -41% | -104.9% | - |
| BVPS (₹) ⓘ | 129.1 | 134.6 | 137.7 | 147.2 | 173.5 | 192.5 | 177.2 | 233 | 221 | 212.9 | 218.5 |
| Adj Net Profit ⓘ | 19.1 | 26.3 | 31.7 | 56.2 | 225 | 226 | 451 | 486 | 287 | -14.1 | 1 |
| Cash Flow from Ops. ⓘ | 138 | 144 | 16.3 | 12.1 | 32.5 | 155 | 157 | 142 | 158 | -43.6 | - |
| Debt/CF from Ops. ⓘ | 2.3 | 1.3 | 12.6 | 18 | 6.7 | 1.1 | 1 | 0.6 | 0.2 | -2.5 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 3.3% | 1% | 2.9% | -14.2% | ||||
| Adj EPS ⓘ | -196.9% | -157.7% | -131.5% | -104.9% | ||||
| BVPSⓘ | 5.7% | 4.2% | 6.3% | -3.7% | ||||
| Share Price | 17.5% | 19% | -11% | 15.4% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 4.7 | 6.2 | 7.3 | 12.3 | 43.8 | 38.6 | 76.8 | 75.4 | 40.2 | -2.1 | 0.1 |
| Op. Profit Mgn % ⓘ | 9.4 | 9.2 | 8.2 | 7.6 | 10.8 | 12.6 | 17 | 15.2 | 6.9 | -0.1 | 1.2 |
| Net Profit Mgn % ⓘ | 1.8 | 2.7 | 3.4 | 5.2 | 16.7 | 17.8 | 34.7 | 27.2 | 17.4 | -1 | 0.1 |
| Debt to Equity ⓘ | 0.8 | 0.4 | 0.5 | 0.5 | 0.4 | 0.3 | 0.3 | 0.1 | 0 | 0.2 | 0.1 |
| Working Cap Days ⓘ | 99 | 93 | 95 | 109 | 121 | 146 | 125 | 111 | 126 | 116 | 62 |
| Cash Conv. Cycle ⓘ | 68 | 59 | 61 | 68 | 73 | 82 | 71 | 61 | 72 | 84 | 40 |
No data to display
Return on Equity has declined versus last 3 years average to 0.10%
Sales growth has been subdued in last 3 years 2.87%
Net Profit has been subdued in last 3 years -131.53%
Sales growth is not so good in last 4 quarters at 1.79%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 0.3 | 49.2 |
| TTM Sales (₹ Cr.) | 1,457 | 6,599 |
| BVPS (₹.) ⓘ | 218.5 | 1,194.2 |
| Reserves (₹ Cr.) ⓘ | 655 | 3,718 |
| P/BV ⓘ | 5.47 | 1.00 |
| PE ⓘ | 0.00 | 24.31 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 752.55 / 1376.10 |
| All Time Low / High (₹) | 3.00 / 2870.00 |
| Market Cap (₹ Cr.) | 3,753 |
| Equity (₹ Cr.) | 31.4 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 39.5 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 99.97 | 99.94 | 99.94 | 99.94 | 99.94 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,052 | 968 | 944 | 1,089 | 1,348 | 1,273 | 1,299 | 1,785 | 1,648 | 1,414 |
| Operating Expenses ⓘ | 954 | 879 | 867 | 1,010 | 1,203 | 1,123 | 1,078 | 1,514 | 1,535 | 1,415 |
| Manufacturing Costs | 102 | 103 | 104 | 121 | 141 | 140 | 134 | 175 | 191 | 189 |
| Material Costs | 730 | 639 | 634 | 734 | 898 | 797 | 755 | 1,063 | 1,112 | 1,003 |
| Employee Cost | 48 | 69 | 62 | 70 | 82 | 84 | 91 | 110 | 97 | 123 |
| Other Costs ⓘ | 74 | 68 | 66 | 84 | 81 | 102 | 98 | 166 | 135 | 101 |
| Operating Profit ⓘ | 98 | 89 | 77 | 79 | 145 | 150 | 221 | 271 | 113 | -2 |
| Operating Profit Margin (%) | 9.4% | 9.2% | 8.2% | 7.2% | 10.8% | 11.8% | 17.0% | 15.2% | 6.9% | -0.1% |
| Other Income ⓘ | 17 | 18 | 50 | 64 | 192 | 220 | 339 | 337 | 257 | 37 |
| Interest ⓘ | 16 | 8 | 19 | 16 | 5 | 3 | 3 | 2 | 1 | 3 |
| Depreciation ⓘ | 77 | 65 | 53 | 48 | 45 | 55 | 57 | 51 | 48 | 46 |
| Exceptional Items ⓘ | 0 | -10 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 23 | 25 | 55 | 79 | 287 | 313 | 499 | 555 | 321 | -14 |
| Tax ⓘ | 3 | -2 | 10 | 20 | 59 | 83 | 45 | 63 | 27 | -5 |
| Profit After Tax | 20 | 27 | 46 | 59 | 228 | 230 | 453 | 491 | 295 | -9 |
| PAT Margin (%) | 1.9% | 2.8% | 4.8% | 5.4% | 16.9% | 18.1% | 34.9% | 27.5% | 17.9% | -0.6% |
| Adjusted EPS (₹) | 6.2 | 8.4 | 14.3 | 18.4 | 71.3 | 71.9 | 144.4 | 156.6 | 93.9 | -2.9 |
| Dividend Payout Ratio (%) | 40% | 36% | 49% | 217% | 72% | 24% | 114% | 66% | 94% | -104% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 413 | 431 | 441 | 471 | 556 | 616 | 557 | 732 | 694 | 669 |
| Share Capital ⓘ | 33 | 33 | 33 | 33 | 33 | 33 | 32 | 32 | 32 | 32 |
| Reserves ⓘ | 381 | 398 | 408 | 439 | 523 | 584 | 525 | 700 | 662 | 637 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 248 | 126 | 152 | 180 | 188 | 131 | 125 | 55 | 12 | 111 |
| Long Term Debt | 179 | 92 | 34 | 46 | 117 | 83 | 47 | 14 | 0 | 0 |
| Short Term Debt | 69 | 34 | 118 | 134 | 71 | 47 | 78 | 41 | 12 | 111 |
| Trade Payables | 10 | 13 | 10 | 16 | 21 | 16 | 27 | 28 | 25 | 18 |
| Others Liabilities ⓘ | 119 | 107 | 85 | 99 | 147 | 247 | 117 | 330 | 82 | 65 |
| Total Liabilities ⓘ | 791 | 677 | 688 | 766 | 911 | 1,009 | 826 | 1,145 | 814 | 863 |
Fixed Assets | ||||||||||
| Gross Block | 967 | 985 | 945 | 957 | 1,012 | 1,096 | 1,112 | 1,138 | 1,154 | 1,191 |
| Accumulated Depreciation | 505 | 569 | 595 | 641 | 685 | 739 | 787 | 826 | 864 | 909 |
| Net Fixed Assetsⓘ | 462 | 416 | 350 | 316 | 327 | 357 | 324 | 312 | 290 | 282 |
| CWIP ⓘ | 1 | 2 | 0 | 2 | 4 | 5 | 5 | 7 | 10 | 2 |
| Investmentsⓘ | 35 | 20 | 47 | 47 | 55 | 119 | 49 | 82 | 47 | 49 |
| Inventories | 95 | 90 | 120 | 137 | 164 | 143 | 151 | 196 | 207 | 199 |
| Trade Receivables | 104 | 64 | 82 | 115 | 172 | 141 | 141 | 193 | 123 | 193 |
| Cash Equivalents | 10 | 5 | 3 | 4 | 5 | 7 | 41 | 23 | 30 | 24 |
| Others Assetsⓘ | 86 | 80 | 86 | 145 | 184 | 235 | 113 | 333 | 107 | 114 |
| Total Assets ⓘ | 791 | 677 | 688 | 766 | 911 | 1,009 | 826 | 1,145 | 814 | 863 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 138 | 144 | 16 | 12 | 33 | 155 | 157 | 142 | 158 | -44 |
| PBT ⓘ | 23 | 25 | 55 | 79 | 287 | 313 | 499 | 555 | 321 | -14 |
| Adjustment ⓘ | 81 | 57 | 36 | 19 | -128 | -133 | -267 | -270 | -189 | 22 |
| Changes in Working Capital ⓘ | 38 | 60 | -62 | -71 | -65 | 33 | -32 | -75 | 54 | -47 |
| Tax Paid ⓘ | -4 | -8 | -13 | -15 | -62 | -58 | -43 | -67 | -29 | -5 |
| Cash Flow From Investing Activity ⓘ | -43 | 9 | -25 | 22 | 111 | 68 | 351 | 271 | 225 | -8 |
| Capex | -43 | -27 | -19 | -27 | -53 | -69 | -31 | -33 | -38 | -33 |
| Net Investments | -10 | 16 | -27 | 0 | -8 | -62 | 72 | -33 | 39 | -1 |
| Others ⓘ | 10 | 21 | 21 | 49 | 172 | 199 | 310 | 336 | 224 | 26 |
| Cash Flow From Financing Activityⓘ | -91 | -157 | 6 | -33 | -144 | -221 | -498 | -410 | -386 | 56 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -63 | -105 | -42 | 1 | 63 | -27 | -36 | -36 | -33 | -14 |
| Interest Paid ⓘ | -17 | -9 | -19 | -17 | -5 | -3 | -3 | -2 | -1 | -3 |
| Dividend Paid ⓘ | -6 | -8 | -19 | -29 | -143 | -166 | -457 | -335 | -323 | -25 |
| Others ⓘ | -5 | -36 | 87 | 12 | -59 | -25 | -2 | -37 | -28 | 99 |
| Net Cash Flow ⓘ | 5 | -5 | -3 | 1 | 0 | 2 | 10 | 2 | -2 | 4 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 4.91 | 6.39 | 10.5 | 12.93 | 44.47 | 39.26 | 77.37 | 76.34 | 41.34 | -1.33 |
| ROCE (%) | 5.04 | 4.93 | 11.85 | 14.26 | 39.92 | 40.58 | 66.85 | 72.4 | 41.83 | -1.36 |
| Asset Turnover Ratio | 1.33 | 1.39 | 1.46 | 1.56 | 1.63 | 1.35 | 1.46 | 1.86 | 1.71 | 1.75 |
| PAT to CFO Conversion(x) | 6.9 | 5.33 | 0.35 | 0.2 | 0.14 | 0.67 | 0.35 | 0.29 | 0.54 | N/A | Working Capital Days |
| Receivable Days | 35 | 30 | 27 | 32 | 38 | 44 | 38 | 33 | 35 | 39 |
| Inventory Days | 36 | 33 | 39 | 41 | 40 | 43 | 40 | 34 | 44 | 50 |
| Payable Days | 4 | 7 | 6 | 6 | 8 | 8 | 10 | 10 | 9 | 8 |
Polyplex Corporation was incorporated in 1984 and commenced commercial operations with its first film line of 4000 TPA in May 1988, which was subsequently increased to 6000 TPA. With its operations stabilizing, by the mid 90s, Polyplex was able to emerge as one of the most profitable producers of Polyester Film in India.
Polyplex is one of India’s leading manufacturers and exporters of Biaxially Oriented Polyester (BOPET) Film for packaging, electrical and other industrial applications.
With its headquarters in NOIDA, New Delhi the Company has three PET Film manufacturing facilities – one located in Khatima in the state of UttaranchAal, India, another at Rayong province in Thailand (owned and operated by Polyplex (Thailand) Public Company Ltd. (PTL), its subsidiary) and the latest facility at Çorlu, Tekirdag in Turkey (owned and operated by Polyplex Europa Polyester Film San. ve Tic. A.S. (PE), which is a wholly-owned subsidiary of PTL).
Polyplex has established itself as one of the most profitable producers of PET Film by way of cost efficient operations resulting from high productivity and low overheads. Its products have gained wide acceptance in the Global markets, such as USA, Europe, South-East Asia, South America, North America and Australia, where the Company has been consistently exporting about 75% of its production.
The company has a dynamic workforce of about 400 employees in India, more than 250 employees in Thailand and more than 150 employees in Turkey. With its expansion in Turkey, Polyplex has a capacity of 83,000 TPA. The capacity enhancement in Turkey has made Polyplex the 5th largest Thin Film Producer in the world.
Following from the company’s objective of being a PET Film manufacturer of global significance, Polyplex expanded its film capacity further by investing in a new film line of 15000 MT in Thailand. The new line was commissioned on April 2, 2003 within the budgeted costs and ahead of time. Following this, PTL has set up its next PET film line with a capacity of 15000 MT in a record time of nine months. The line commenced commercial production in November 2003.
The company also commissioned a Metallizer in India in December 2002. This has enabled the company to broaden its product portfolio and improve value additions.These investments have strengthened the company’s competitive position in the PET Film business ensuring continued cost leadership. This together with the current demand-supply situation, would enable Polyplex to provide an attractive value proposition to its customers and investors.
Production in both the India and the Thailand units has been more than rated capacity. Consequently in 2003-04 capacities were restated at 20,000 MT for India and 39,000 MT for Thailand.
During 2004-05, the company took steps to implement a Polyester film plant in Turkey and has formed a company in Turkey, Polyplex Europa Polyester Film San. Ve Tic. A.S., for this purpose. This unit successfully started commercial production in December 2005.
During 2005-06, the company planned to set up a Silicone Coater Plant with an investment of around Rs. 22 Crore. Currently Trial runs are being undertaken. Polyplex Corporation is a Public Company listed on National Stock Exchange and Mumbai Stock Exchange.
Products manufactured by the company:
The company is engaged in the production of Biaxially Oriented Polyester (BOPET) Film, that is used successfully in a wide range of applications, due to its excellent combination of optical, physical, mechanical, thermal, and chemical properties, as well as its unique versatility.
Subsidiaries:
Achievements/ recognition :ISO 9002 and 14001 accreditation.
Milestones:
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
Make an informed decision for Stocks
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Download APP
