Polyplex Corporation Ltd.
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ABOUT
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.32x)
- Company has a consistent dividend-paying track record
- Company comfortably covers its interest (8.9x coverage)
- Institutional investors have been accumulating - FII+DII up 3.1pp
- Company maintains a comfortable, low leverage position
CONS
- A large part of profit comes from other income (79.4% of PBT)
- Recent results are weak - TTM profit is down 31.3% versus prior year
- Company has a low return on capital employed of 7.1%
- Company has a low return on equity of 6.0% over last 3 years
- Total debt has risen sharply - up 87.1% year on year
- Company has delivered a poor profit growth of -33.4% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SUPREMEIND | 3509.50 | 43.18 | 44580.08 | 1.03 | 280.72 | 38.76 | 2717.66 | 4.16 | 21.49 | 17.33 |
| ASTRAL | 1471.15 | 68.67 | 39522.47 | 0.27 | 120.20 | 51.77 | 1578.00 | 15.93 | 19.95 | 14.65 |
| SHAILY | 3445.35 | 89.63 | 15846.97 | 0.09 | 48.01 | 16.75 | 280.67 | 13.77 | 29.46 | 29.59 |
| GRWRHITECH | 6755.75 | 40.47 | 15695.22 | 0.18 | 132.65 | 59.78 | 633.08 | 27.90 | 18.08 | 27.17 |
| FINPIPE | 156.70 | 15.80 | 9722.87 | 1.75 | 114.52 | 16.67 | 883.58 | -15.30 | 12.73 | 12.09 |
| TIMETECHNO | 185.95 | 18.74 | 9179.15 | 0.81 | 1178.60 | 1120.71 | 16927.10 | 1151.40 | 17.37 | 13.25 |
| KINGFA | 6167.55 | 37.03 | 8357.88 | 0.00 | 80.21 | 101.58 | 688.57 | 49.06 | 30.70 | 16.12 |
| RESPONIND | 169.65 | 44.65 | 4523.01 | 0.06 | 2.74 | -94.51 | 192.87 | -43.06 | 10.76 | 12.09 |
| POLYPLEX | 1139.35 | 23.03 | 3576.70 | 0.26 | 171.07 | 386.02 | 2253.62 | 29.62 | 1.51 | 13.15 |
| PRINCEPIPE | 280.95 | 30.42 | 3106.21 | 0.36 | 337.49 | 6900.41 | 6094.18 | 949.97 | 6.20 | 12.66 |
| NILKAMAL | 2054.30 | 24.59 | 3065.53 | 0.97 | 24.40 | 59.20 | 819.73 | -7.18 | 10.76 | 9.44 |
| XPROINDIA | 1300.85 | 93.48 | 3053.15 | 0.15 | 7.63 | 239.10 | 174.42 | 20.37 | 4.00 | 9.08 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 351 | 381 | 313 | 369 | 383 | 393 | 405 | 382 | 392 | 373 | 331 | 401 | 440 | |
| 344 | 371 | 322 | 379 | 366 | 373 | 370 | 344 | 365 | 355 | 332 | 371 | 430 | |
| Operating Profit | 7 | 10 | -9 | -10 | 16 | 20 | 35 | 38 | 27 | 18 | -1 | 31 | 10 |
| OPM % | 2.05% | 2.61% | -2.85% | -2.68% | 4.28% | 5.10% | 8.73% | 9.99% | 6.79% | 4.72% | -0.25% | 7.69% | 2.21% |
| 5 | 14 | 9 | 9 | 6 | 11 | 11 | 20 | 15 | 16 | 7 | 22 | 7 | |
| Interest | 1 | 1 | 1 | 1 | 2 | 2 | 3 | 3 | 2 | 2 | 2 | 3 | 4 |
| Depreciation | 10 | 11 | 12 | 13 | 10 | 12 | 13 | 12 | 10 | 12 | 13 | 14 | 12 |
| Profit before Tax | 1 | 13 | -12 | -15 | 10 | 17 | 31 | 43 | 30 | 19 | -10 | 35 | 17 |
| Tax % | 30.86% | 13.88% | 24.25% | 24.18% | 33.16% | 12.24% | 38.16% | 15.51% | 25.25% | 16.77% | 24.73% | 19.02% | 25.85% |
| Net Profit | 1 | 11 | -9 | -11 | 7 | 15 | 19 | 37 | 22 | 16 | -8 | 29 | 12 |
| 0.18 | 3.44 | -2.90 | -3.61 | 2.08 | 4.68 | 6.12 | 11.68 | 7.04 | 5.14 | -2.46 | 9.14 | 3.98 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 944 | 1,089 | 1,348 | 1,273 | 1,299 | 1,785 | 1,648 | 1,414 | 1,563 | 1,497 | 1,545 | |
| 867 | 1,010 | 1,203 | 1,123 | 1,078 | 1,514 | 1,535 | 1,415 | 1,453 | 1,423 | 1,487 | |
| Operating Profit | 77 | 79 | 145 | 150 | 221 | 271 | 113 | -2 | 110 | 74 | 57 |
| OPM % | 8.17% | 7.23% | 10.77% | 11.80% | 16.98% | 15.18% | 6.85% | -0.12% | 7.03% | 4.96% | 3.71% |
| 50 | 64 | 192 | 220 | 339 | 337 | 257 | 37 | 49 | 59 | 51 | |
| Interest | 19 | 16 | 5 | 3 | 3 | 2 | 1 | 3 | 10 | 9 | 11 |
| Depreciation | 53 | 48 | 45 | 55 | 57 | 51 | 48 | 46 | 47 | 50 | 52 |
| Profit before Tax | 55 | 79 | 287 | 313 | 499 | 555 | 321 | -14 | 101 | 74 | 61 |
| Tax % | 17.47% | 25.78% | 20.56% | 26.59% | 9.12% | 11.37% | 8.36% | 33.35% | 23.63% | 20.13% | 19.23% |
| Net Profit | 46 | 59 | 228 | 230 | 453 | 491 | 295 | -9 | 77 | 59 | 50 |
| EPS | 14.30 | 18.41 | 71.31 | 71.85 | 144.02 | 156.55 | 93.85 | -2.88 | 24.56 | 18.86 | — |
| Dividend Payout % | 48.97% | 217.22% | 71.52% | 23.66% | 113.55% | 66.43% | 93.76% | -104.02% | 54.97% | 15.91% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 4%
- 5 Years:
- 3%
- 3 Years:
- -3%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 8%
- 5 Years:
- -33%
- 3 Years:
- -41%
STOCK PRICE CAGR
- 10 Years:
- 15%
- 5 Years:
- -6%
- 3 Years:
- -2%
- 1 Year:
- 9%
RETURN ON EQUITY
- 10 Years:
- 32%
- 5 Years:
- 27%
- 3 Years:
- 6%
- Last Year:
- 8%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 32 | 32 | 32 | 32 | 31 | 31 | 31 | 31 | 31 | 31 |
| 408 | 439 | 523 | 584 | 525 | 700 | 662 | 637 | 681 | 722 | |
| 206 | 220 | 218 | 172 | 162 | 88 | 27 | 111 | 123 | 227 | |
| Trade Payables | 10 | 16 | 21 | 16 | 27 | 28 | 25 | 18 | 36 | 33 |
| 32 | 60 | 117 | 206 | 81 | 297 | 68 | 40 | 41 | 60 | |
| Total Liabilities | 688 | 766 | 911 | 1,009 | 826 | 1,145 | 814 | 838 | 913 | 1,074 |
| 350 | 316 | 327 | 357 | 324 | 312 | 290 | 282 | 257 | 290 | |
| Capital Work in Progress | 0 | 2 | 4 | 5 | 5 | 7 | 10 | 2 | 4 | 4 |
| 47 | 47 | 55 | 119 | 49 | 82 | 47 | 49 | 82 | 85 | |
| 120 | 137 | 164 | 143 | 151 | 196 | 207 | 199 | 216 | 220 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 193 | 179 | 177 | |
| Cash & Bank | 3 | 4 | 5 | 7 | 41 | 23 | 30 | 24 | 25 | 63 |
| 168 | 260 | 356 | 377 | 255 | 526 | 230 | 89 | 149 | 234 | |
| Total Assets | 688 | 766 | 911 | 1,009 | 826 | 1,145 | 814 | 838 | 913 | 1,074 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 29 | 27 | 94 | 213 | 200 | 209 | 187 | -44 | 112 | 100 | |
| Cash from Investing | -25 | 22 | 111 | 68 | 351 | 271 | 225 | -8 | -89 | -138 |
| Cash from Financing | 6 | -33 | -144 | -221 | -498 | -410 | -386 | 56 | -23 | 79 |
| -3 | 1 | -0 | 2 | 10 | 2 | -2 | 4 | -1 | 41 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - Polyplex Corporation Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 08, 2026. Further, the company has informed the Exchange regarding voting results.
2026-09-08 - Polyplex Corporation Limited has informed the Exchange about presentation made at the 41st AGM held on September 08, 2026.
2026-09-08 - Polyplex Corporation Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 08, 2026
2026-08-17 - Polyplex Corporation Limited has informed the Exchange about Submission of Newspaper Notice regarding dispatch of Annual Report for the FY 2025-26 and Notice of 41st AGM
2026-08-14 - Polyplex Corporation Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 08, 2026 and Annual Report for the financial year 2025-26.
2026-08-13 - Polyplex Corporation Limited has informed the Exchange about Investor Presentation on the consolidated financial results for the quarter ended June 30, 2026.
2026-08-11 - Polyplex Corporation Limited has submitted to the Exchange the financial results for the quarter ended Jun 30, 2026.
2026-08-06 - Polyplex Corporation Limited has informed the Exchange about General Updates
2026-08-06 - Polyplex Corporation Limited has informed the Exchange about Newspaper Notice for information regarding 41st Annual General Meeting of the Company to be held through VC/OAVM
News
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Polyplex Corporation Ltd.
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