Specialty Polymeric Films & Flexible Packaging Materials
Strategic Profile
Polyplex operates 7 manufacturing facilities in 5 countries with multiple warehouses and liaison offices worldwide. The company plans capex of ₹1,000+ Cr for specialty films in the U.S. and India, focusing on sustainability via recycled PET and green energy with targets for 12–15% revenue CAGR.
Cyborg Score Rationale
The company has delivered poor sales growth of 8.94% over the past five years and has a low return on equity of 5.64% over the last 3 years. Recent results show revenue of ₹1791 Cr with 25% YoY growth despite oversupply, normalized EBITDA of 138 Cr with 8% margin.
Top Insights
Ranked #2 globally (ex-China) in thin BOPET film capacity with approximately 10% global market share
Q2 FY26 showed 25% YoY revenue growth to ₹1791 Cr with normalized EBITDA margin of 8% despite industry oversupply
Earnings declined 30.9% per year over past 5 years with unstable dividend track record and profit margins of 1% versus 2.3% prior year
Promoters hold 50.97% stake while institutional investors collectively hold 16.34% of the company
Named Competitors
Flexible Packaging Films — Diversified polymer films and flexible packaging solutions
Specialty Films — Polyester and polypropylene films for flexible packaging
Specialty Films — Biodegradable and sustainable packaging solutions
Recent Developments
(February 2026) Board meeting scheduled to discuss and approve Q3 FY25 unaudited results
(December 2025) Q3 FY26 results approved with consolidated and standalone financial statements
(December 2025) H1 FY26 revenue of ₹3,527 crore reported with significant quarter-on-quarter growth
Open the full interactive Polyplex Corporation Limited report
Strategic research, analyst-debate audio, full Cyborg Score breakdown across 11 dimensions, and saved-company audio playlists.