On 6 Nov 2026, Polyplex Corporation was priced at ₹874.25, or 17.7× trailing earnings, against an industry P/E of 22.1×, and the shares are 31% below their 52-week high. Sales and net profit fell 2.5% and 49% a year over 3 years; its ROCE of 1.0% is the lowest among the 7 largest Specialty Chemicals peers. Debt is 0.13× equity, and its dividend yield is 0.2%. It is a small-cap company with a market cap of ₹2,744 Cr, ranked 49th of 204 Specialty Chemicals companies by market cap; the shares fell 5.0% over the past year.
- ₹898.00
- ₹898.00
- ₹868.40
- ₹901.15
- 47.3K
Health check
- ReturnsBehind
−5.0% over a year, better than 1 of 7 peers.
- Price tagCheaper
P/E 17.7 vs industry 22.1.
- GrowthShrinking
Sales −2.5%, profit −49.5% a year over 3 years.
- ProfitabilityWeak
ROCE 1.0% vs peer median 24.4%.
- Balance sheetStretched
Debt 0.13× equity, interest covered 1.4×, Piotroski 2 of 9.
- Red flags2 to check
Return on equity is low at 1.1%.
Small cap
Defensive
Key metrics
- Market cap
- ₹2,744 Cr
- Small cap
- P/E
- 17.7
- Industry 22.1
- Price to book
- 0.65
- Peers 13.33
- Dividend yield
- 0.23%
- ROE
- 1.1%
- Peers 23.0%
- ROCE
- 1.0%
- Peers 24.4%
- Debt to equity
- 0.13
- Debt ₹935 Cr
- EPS (TTM)
- ₹49.47
- Face value ₹10
- OPM (TTM)
- 9.5%
- Net margin 2.0%
- Sales growth
- +29.6%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.36
- EV/EBITDA 10.0
Strengths and risks
Strengths
- Quarterly sales up 29.6% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Return on equity is low at 1.1%.
- 31% below its 52-week high.
About Polyplex Corporation
Polyplex Corporation Limited engages in the manufacture and sale of polymeric films in India, other Asian countries, Europe, the Americas, and internationally. It offers Sarafil base films, including biaxially-oriented polyester (BOPET) films for use in packaging, electrical, and industrial applications; BO polypropylene (PP) films for flexible packaging and other applications; cast and blown PP films for flexible packaging and other applications;…
- Headquarters
- Noida
- Employees
- 1,022
- Sector
- Basic Materials
- ISIN
- INE633B01018
- Website
- polyplex.com
Price range
- Avg volume (3M)
- 77.1K
- 1-year return
- minus 5.0%
- From 52-week high
- minus 30.8%
Peers · Specialty Chemicals
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ASIANPAINTAsian Paints | 2,546.00 | plus 0.88% | 2,44,025 | 50.5 | 35.0 | 24.4% | 18.9% | 0.21 | 1.1% | plus 1.5% |
| SOLARINDSSolar Industries India | 18,608.00 | plus 0.48% | 1,68,384 | 74.4 | 64.1 | 29.5% | 27.8% | 0.22 | 12.4% | plus 35.9% |
| PIDILITINDPidilite Industries | 1,579.00 | plus 1.63% | 1,60,827 | 60.0 | 44.4 | 28.5% | 23.5% | 0.03 | 7.4% | plus 6.8% |
| LINDEINDIALinde India | 6,859.00 | plus 8.73% | 58,496 | 118.4 | 64.2 | 16.3% | 31.5% | 0.23 | – | plus 5.4% |
| BERGEPAINTBerger Paints India | 478.35 | minus 5.28% | 55,776 | 45.4 | 29.4 | 20.6% | 15.3% | 0.15 | 4.2% | minus 6.0% |
| FLUOROCHEMGujarat Fluorochemicals | 4,665.50 | minus 0.94% | 51,251 | 75.9 | 44.0 | 9.6% | 24.1% | 0.26 | −4.5% | plus 28.0% |
| ACUTAASAcutaas Chemicals | 3,786.60 | plus 0.42% | 31,001 | 70.9 | 64.1 | 27.7% | 39.4% | 0.01 | 29.4% | plus 105.6% |
| POLYPLEXPolyplex Corporation | 874.25 | minus 2.99% | 2,744 | 17.7 | 5.1 | 1.0% | 18.1% | 0.13 | −2.5% | minus 5.0% |
| Median of 7 peers | – | 0.48% | 58,496 | 70.9 | 44.4 | 24.4% | 24.1% | 0.21 | 5.8% | 6.8% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 1,739 | 1,794 | 1,682 | 1,871 | 2,254 | |
| 1,709 | 1,679 | 1,550 | 1,721 | 1,932 | |
| 29.2 | 115 | 132 | 150 | 322 | |
| 1.7% | 6.4% | 7.9% | 8.0% | 14.3% | |
| 0 | 10.1 | 0 | 0 | 0 | |
| 14.1 | 13 | 13 | 13.2 | 16.9 | |
| 85.7 | 88.8 | 94.5 | 94.3 | 94.4 | |
| −70.6 | 23.5 | 25 | 42.6 | 211 | |
| 15.3% | −42.8% | −18.6% | 11.6% | 18.8% | |
| −19.3 | 24.7 | 14.8 | 24.8 | 91 | |
| -6.15 | 7.87 | 4.70 | 7.90 | 29.00 |
Profit & loss
- Sales CAGR 3Y
- −2.5%
- Profit CAGR 3Y
- −49.5%
- EPS CAGR 3Y
- −49.5%
- ROE
- 1.1%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 7,640 | 6,294 | 6,869 | 7,076 | |
| – | minus 17.6% | +9.1% | +3.0% | |
| 6,684 | 5,835 | 6,172 | 6,564 | |
| 956 | 459 | 697 | 512 | |
| 12.5% | 7.3% | 10.2% | 7.2% | |
| 46.2 | −32.1 | 78.6 | −71.3 | |
| 32 | 39.2 | 43.3 | 49.9 | |
| 296 | 307 | 300 | 363 | |
| 36.5 | −4.9 | 12.7 | −6.9 | |
| 711 | 75.9 | 445 | 20.4 | |
| 13.4% | −13.8% | 19.7% | −100.8% | |
| 348 | 37.8 | 209 | 45 | |
| – | minus 89.1% | +453.0% | minus 78.5% | |
| 110.97 | 12.05 | 66.64 | 14.32 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 32 | 32 | 32 | 32 | |
| 3,451 | 3,479 | 3,731 | 4,208 | |
| 799 | 748 | 882 | 935 | |
| 3,115 | 3,172 | 3,353 | 3,739 | |
| 7,397 | 7,431 | 7,998 | 8,914 | |
| 3,551 | 3,697 | 4,065 | 4,464 | |
| 302 | 700 | 126 | 243 | |
| 143 | 290 | 226 | 186 | |
| 1,098 | 802 | 856 | 1,061 | |
| 2,304 | 1,942 | 2,725 | 2,960 | |
| 7,397 | 7,431 | 7,998 | 8,914 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 802 | 455 | 438 | 537 | |
| −115 | −796 | −473 | −509 | |
| −657 | −152 | −37.5 | −133 | |
| 29.6 | −493 | −72.6 | −105 | |
| −273 | −517 | −503 | −405 | |
| 529 | −61.9 | −64.7 | 132 | |
| −323 | −25.2 | −31.7 | −21.8 |
Shareholding pattern
- Promoters26.73%
- Public73.27%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 26.73% | 73.27% | 0.00 | |
| 30 Jun 2026 | 26.73% | 73.27% | 0.00 | |
| 31 Mar 2026 | 26.73% | 73.27% | 0.00 | |
| 31 Dec 2025 | 26.73% | 73.27% | 0.00 | |
| 30 Sep 2025 | 26.73% | 73.27% | – |
Major shareholders
Filings & events
News
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