POLYPLEX
Polyplex Corporation share price & financials
- Price
- ₹951.1
- Market cap
- ₹3.6k Cr
- Sector
- Capital Goods
What Polyplex Corporation Limited does
Polyplex Corporation manufactures and sells plastic film substrates — BOPET (thin and thick), BOPP, CPP and blown PP/PE — that converters, CPGs and OEMs use in flexible packaging, electrical & electronic, and industrial applications. It runs a backward-integrated model with captive PET resin (including mechanically and chemically recycled resin) at every base-film manufacturing location, and forward-integrates into metallizing, coating, holography and digital-print processes to sell higher-value downstream films. The company sells to a global, diversified customer base of converters and brand owners through its own manufacturing-linked sales and distribution network across Asia, Europe and North America, positioning itself on cost leadership plus a growing share of differentiated (D-PAC) specialty film sales.
- Manufacturing facilities
- 8 facilities across 5 countries (India, Thailand, Indonesia, Turkey, USA)
- Global market position
- Ranked #2 globally (ex-China) in Thin BOPET film capacity
- Installed base-film capacity
- ~492,000 MTPA (of which BOPET films: ~365,000 MTPA)
- Installed PET resin capacity
- ~495,200 MTPA, captive at every manufacturing location
- Customer base
- ~2,925 customers
- Countries served
- ~85 countries across Europe, Asia (ex-India), India, the Americas and RoW
Quarterly results
Q1 FY27: revenue up 29.6%, net profit up 385.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,739 | 1,721 | 1,740 | 1,739 | 1,794 +3% | 1,682 −2% | 1,871 +8% | 2,254 +30% |
| EBITDA | 191 | 121 | 64 | -1 | 103 −46% | 105 −13% | 88 +38% | 296 +29700% |
| Net profit | 164 | 105 | -9 | -60 | 34 −79% | 30 −71% | 38 +522% | 171 +385% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +10.1% 1Y
1Y: ₹1,029.7 on 10 Sept 2025 → ₹1,134.2. High ₹1,229.6 (11 Aug 2026), low ₹747.8 (30 Mar 2026).
Financials, as filed
Revenue grew 3.9% a year over 3 years, FY23 to FY26. Operating margin narrowed to 4.2%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹6.3k Cr | ₹6.3k Cr | ₹6.9k Cr | ₹7.1k Cr |
| Operating profit | ₹701 Cr | ₹329 Cr | ₹540 Cr | ₹295 Cr |
| Operating margin | 11.1% | 5.2% | 7.8% | 4.2% |
| Interest | ₹24 Cr | ₹42 Cr | ₹47 Cr | ₹53 Cr |
| Depreciation | ₹230 Cr | ₹307 Cr | ₹301 Cr | ₹363 Cr |
| Net profit | ₹584 Cr | ₹86 Cr | ₹357 Cr | ₹42 Cr |
| Net margin | 9.2% | 1.4% | 5.2% | 0.6% |
| Cash from operations | ₹802 Cr | ₹455 Cr | ₹438 Cr | ₹537 Cr |
| Free cash flow | ₹532 Cr | ₹-56 Cr | ₹-47 Cr | ₹150 Cr |
| ROCE | 12.0% | 2.0% | 7.0% | 1.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹32 Cr | ₹32 Cr | ₹32 Cr | ₹32 Cr | ₹32 Cr | ₹32 Cr |
| Reserves | ₹3.0k Cr | ₹3.3k Cr | ₹3.5k Cr | ₹3.5k Cr | ₹4.0k Cr | ₹4.2k Cr |
| Borrowings | ₹695 Cr | ₹946 Cr | ₹799 Cr | ₹748 Cr | ₹968 Cr | ₹935 Cr |
| Other liabilities | ₹2.4k Cr | ₹3.0k Cr | ₹3.1k Cr | ₹3.1k Cr | ₹3.6k Cr | ₹3.7k Cr |
| Total liabilities | ₹6.2k Cr | ₹7.2k Cr | ₹7.4k Cr | ₹7.4k Cr | ₹8.6k Cr | ₹8.9k Cr |
| Fixed assets | ₹2.8k Cr | ₹3.2k Cr | ₹3.3k Cr | ₹3.0k Cr | ₹4.0k Cr | ₹4.2k Cr |
| Capital work in progress | ₹325 Cr | ₹126 Cr | ₹196 Cr | ₹628 Cr | ₹89 Cr | ₹70 Cr |
| Investments | ₹288 Cr | ₹276 Cr | ₹275 Cr | ₹374 Cr | ₹328 Cr | ₹348 Cr |
| Other assets | ₹2.8k Cr | ₹3.7k Cr | ₹3.6k Cr | ₹3.4k Cr | ₹4.2k Cr | ₹4.2k Cr |
| Total assets | ₹6.2k Cr | ₹7.2k Cr | ₹7.4k Cr | ₹7.4k Cr | ₹8.6k Cr | ₹8.9k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs added +3.12 pp while the public trimmed −3.05 pp. The shareholder count shrank 12% to 95,075.
- Promoters
- 26.7%
- FIIs
- 10.2%
- DIIs
- 2.9%
- Public
- 60.2%
Since Jun 2025
- FIIs +3.12 pp
- Public −3.05 pp
- DIIs −0.10 pp
How it drifted, 12 quarters
Over this window promoters fell from 51.0% to 26.7% — −24.3 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 51.0%, FIIs 9.4%, DIIs 2.3%, Public 37.4%.Dec '23: Promoters 26.7%, FIIs 8.3%, DIIs 2.3%, Public 62.7%.Mar '24: Promoters 26.7%, FIIs 7.9%, DIIs 2.3%, Public 63.1%.Jun '24: Promoters 26.7%, FIIs 7.1%, DIIs 2.4%, Public 63.8%.Sep '24: Promoters 26.7%, FIIs 7.4%, DIIs 2.8%, Public 63.1%.Dec '24: Promoters 26.7%, FIIs 7.8%, DIIs 3.3%, Public 62.2%.Mar '25: Promoters 26.7%, FIIs 7.7%, DIIs 2.8%, Public 62.8%.Jun '25: Promoters 26.7%, FIIs 7.1%, DIIs 3.0%, Public 63.2%.Sep '25: Promoters 26.7%, FIIs 9.3%, DIIs 2.8%, Public 61.2%.Dec '25: Promoters 26.7%, FIIs 9.0%, DIIs 2.9%, Public 61.4%.Mar '26: Promoters 26.7%, FIIs 9.9%, DIIs 2.9%, Public 60.5%.Jun '26: Promoters 26.7%, FIIs 10.2%, DIIs 2.9%, Public 60.2%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund Mutual fund newly disclosed 2.09% held
- 1729 Capital AIF +0.20 pp 1.36% held
The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Polyplex Corporation Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| AGP Holdco Limited | 24.28% | unchanged |
| Secure Investments Limited | 22.10% | unchanged |
| First Water Fund AIF | 3.26% | −0.07 pp |
| Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund Mutual fund | 2.09% | newly disclosed |
| Bhilangana Hydro Power Limited | 1.93% | unchanged |
| Sakhi Saraf | 1.82% | unchanged |
| 1729 Capital AIF | 1.36% | +0.20 pp |
| Amla Saraf | 0.83% | unchanged |
| Huma Khalil | 0.03% | unchanged |
| Sanjiv Chadha | 0.01% | unchanged |
| Rohit Saraf | 0.00% | unchanged |
| Vindhyachal Hydro Power Private Limited | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in POLYPLEX
Filings to Aug 2026
0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).
- Held by funds
- ₹78 Cr
- 1 schemes
- Biggest holder
- Nippon India Small Cap Fund
- ₹78 Cr · 0.1% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹78 Cr | held | Sep '12 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
0 added, 0 trimmed — net 0 shares (+0.0%)
- Funds are sitting on
- +261%
- vs est. average cost
- Held by funds
- ₹78 Cr
- 1 schemes · ≈ 1.8% of the company
Shares held by these funds −2%
Aug '23 6.58 L shares Jul '26
Learn to analyse Polyplex Corporation Limited
Guides on how to read this kind of business and the numbers that matter.