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Last Updated on: 21 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Polyplex Corporation Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 20, 2024, 9:14 pm

Market Cap 3,737 Cr.
Current Price 1,191
High / Low1,376/752
Stock P/E24.2
Book Value 1,194
Dividend Yield0.76 %
ROCE1.81 %
ROE1.09 %
Face Value 10.0
PEG Ratio-0.74

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Polyplex Corporation Ltd

Competitors of Polyplex Corporation Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Hindustan Tin Works Ltd 190 Cr. 183249/13213.5 2010.66 %11.1 %8.65 % 10.0
HCP Plastene Bulkpack Ltd 175 Cr. 164294/14746.2 49.40.00 %5.83 %0.30 % 10.0
Gujarat Containers Ltd 93.5 Cr. 165200/14210.9 83.60.91 %22.7 %22.9 % 10.0
Goblin India Ltd 48.2 Cr. 34.982.4/29.212.5 31.80.00 %8.18 %6.90 % 10.0
G K P Printing & Packaging Ltd 18.4 Cr. 8.3816.6/7.53 9.980.00 %5.50 %7.89 % 10.0
Industry Average2,731.92 Cr422.7635.33182.540.26%12.94%38.23%7.42

All Competitor Stocks of Polyplex Corporation Ltd

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales1,2371,2941,4401,5481,7511,8862,0332,0891,8631,6671,5611,5721,496
Expenses9081,0301,1661,2911,4021,5071,6731,8481,7601,6121,4991,4511,446
Operating Profit329264274257349379360242104556112150
OPM %27%20%19%17%20%20%18%12%6%3%4%8%3%
Other Income1457720896175865764122445
Interest444445771011121010
Depreciation71716765697271727578757575
Profit before tax2692462112083643633572487631-13598
Tax %16%17%12%19%16%16%13%19%-11%34%20%18%-102%
Net Profit2252051861693053043112008420-104817
EPS in Rs41.8439.9235.5230.5955.8959.1859.5836.6412.322.42-0.998.901.47

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales2,5353,1723,2043,2023,2013,5724,5704,4874,9186,6247,6526,307
Expenses2,3473,0802,9192,8492,7583,0783,8383,7063,7015,3166,7055,942
Operating Profit188922853534434947327811,2171,308947365
OPM %7%3%9%11%14%14%16%17%25%20%12%6%
Other Income633770-3217744163131591289560
Interest325456484739291818163542
Depreciation150192216209197185209253280273296307
Profit before tax69-11783643763146576409791,14771176
Tax %4%55%6%75%4%9%11%23%12%16%13%-14%
Net Profit66-52781636128458449486296561686
EPS in Rs6.64-2.1411.879.0872.4449.85103.1888.18163.04181.19110.9712.05
Dividend Payout %46%-95%21%34%10%82%50%20%102%58%81%8%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)-178.79%250.00%-79.49%2156.25%-21.33%105.63%-15.41%74.49%11.95%-36.17%-86.04%
Change in YoY Net Profit Growth (%)0.00%428.79%-329.49%2235.74%-2177.58%126.96%-121.04%89.90%-62.54%-48.11%-49.87%

Polyplex Corporation Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:7%
5 Years:7%
3 Years:9%
TTM:-1%
Compounded Profit Growth
10 Years:22%
5 Years:-35%
3 Years:-58%
TTM:117%
Stock Price CAGR
10 Years:18%
5 Years:19%
3 Years:-12%
1 Year:14%
Return on Equity
10 Years:9%
5 Years:11%
3 Years:9%
Last Year:1%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 7:52 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital33333333333333333232323232
Reserves1,9732,2282,0882,2892,2702,5162,7392,9973,0213,2843,4483,4773,718
Borrowings1,5802,0791,6551,294810863786758695946799748913
Other Liabilities1,0009709689511,2431,4571,6481,9522,4202,9543,0943,1273,362
Total Liabilities4,5855,3094,7444,5664,3564,8685,2055,7396,1687,2167,3737,3838,025
Fixed Assets1,5182,4982,5692,4062,1842,2182,2422,8242,7593,1523,2523,0023,049
CWIP1,1526538310818130325126196628791
Investments6766161100133123233288276275374345
Other Assets1,8482,0922,1512,1572,0622,5092,6582,6522,7963,6633,6503,3793,840
Total Assets4,5855,3094,7444,5664,3564,8685,2055,7396,1687,2167,3737,3838,025

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +721143764484413075517311,102560802455
Cash from Investing Activity +-1,038-391-086-246-106-265-323-4514116-804
Cash from Financing Activity +862311-234-473-436-42-312-298-660-232-657-152
Net Cash Flow-1043314261-240159-26110-8369160-501

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow187.0090.00284.00352.00-367.00-369.00-54.0023.00-694.00-945.00148.00-383.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days504746495356485550614456
Inventory Days1008682788810392105133141110126
Days Payable463438365248323755553851
Cash Conversion Cycle10399909290110107123128147116132
Working Capital Days6352646558787383809788106
ROCE %3%-1%4%4%9%8%15%12%19%20%12%2%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters50.97%50.97%50.97%50.97%50.97%50.97%50.97%50.97%50.97%26.70%26.70%26.70%
FIIs8.64%9.29%10.23%12.78%14.81%13.16%12.68%10.84%9.41%8.29%7.92%7.08%
DIIs5.33%4.87%4.55%3.63%3.02%2.83%2.82%2.81%2.26%2.27%2.31%2.43%
Public35.06%34.87%34.25%32.62%31.21%33.04%33.53%35.37%37.37%62.74%63.07%63.80%
No. of Shareholders89,2461,05,3311,09,2791,27,0141,33,2161,43,3541,45,1561,48,7141,53,8001,52,6601,46,2681,37,449

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Nippon India Small Cap Fund657,5170.1769.581562024-11-20421385.26%
Nippon India Nifty Smallcap 250 Index Fund9,5770.121.011562024-11-206039.1%
Motilal Oswal Nifty Smallcap 250 Index Fund5,8520.120.621562024-11-203651.28%
SBI Nifty Smallcap 250 Index Fund4,5750.120.481562024-11-202832.69%
ICICI Prudential Nifty Smallcap 250 Index Fund2,4130.120.261562024-11-201446.79%
HDFC NIFTY Smallcap 250 ETF1,2330.120.131562024-11-20690.38%
HDFC Nifty Smallcap 250 Index Fund1,0100.120.111562024-11-20547.44%
Motilal Oswal Nifty 500 Index Fund6360.010.071562024-11-20307.69%
Edelweiss Nifty Smallcap 250 Index Fund2370.120.031562024-11-2051.92%
ICICI Prudential S&P BSE 500 ETF1560.010.021562024-11-200%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)12.05110.97181.19162.5788.18
Diluted EPS (Rs.)12.05110.97181.19162.5788.18
Cash EPS (Rs.)123.08285.20387.02357.12229.45
Book Value[Excl.RevalReserv]/Share (Rs.)1817.761804.531664.831503.981377.84
Book Value[Incl.RevalReserv]/Share (Rs.)1817.761804.531664.831503.981377.84
Revenue From Operations / Share (Rs.)1972.682393.502071.991538.351377.97
PBDIT / Share (Rs.)133.06326.03449.12399.08258.61
PBIT / Share (Rs.)37.00233.36363.88311.56180.82
PBT / Share (Rs.)23.74222.33358.72306.06196.60
Net Profit / Share (Rs.)27.02192.53301.78269.61151.65
NP After MI And SOA / Share (Rs.)11.83108.96177.91160.0886.61
PBDIT Margin (%)6.7413.6221.6725.9418.76
PBIT Margin (%)1.879.7417.5620.2513.12
PBT Margin (%)1.209.2817.3119.8914.26
Net Profit Margin (%)1.368.0414.5617.5211.00
NP After MI And SOA Margin (%)0.594.558.5810.406.28
Return on Networth / Equity (%)1.0710.0017.1516.769.31
Return on Capital Employeed (%)1.8711.8619.5518.9311.82
Return On Assets (%)0.504.707.858.284.89
Long Term Debt / Equity (X)0.100.100.140.110.14
Total Debt / Equity (X)0.200.220.280.190.22
Asset Turnover Ratio (%)0.850.410.500.390.41
Current Ratio (X)2.973.302.812.963.29
Quick Ratio (X)1.782.071.802.072.43
Inventory Turnover Ratio (X)2.951.542.241.872.04
Dividend Payout Ratio (NP) (%)41.4895.5255.1993.8458.96
Dividend Payout Ratio (CP) (%)4.5551.6137.3160.6731.06
Earning Retention Ratio (%)58.524.4844.816.1641.04
Cash Earning Retention Ratio (%)95.4548.3962.6939.3368.94
Interest Coverage Ratio (X)10.0429.5687.0072.5946.74
Interest Coverage Ratio (Post Tax) (X)3.0418.4559.4650.0424.55
Enterprise Value (Cr.)4772.655746.179795.514149.362159.40
EV / Net Operating Revenue (X)0.750.751.480.840.48
EV / EBITDA (X)11.225.516.823.252.56
MarketCap / Net Operating Revenue (X)0.380.471.170.550.21
Retention Ratios (%)58.514.4744.806.1541.03
Price / BV (X)0.691.052.340.900.32
Price / Net Operating Revenue (X)0.380.471.170.550.21
EarningsYield0.010.090.070.180.28

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Polyplex Corporation Ltd as of November 21, 2024 is: 317.35

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 21, 2024, Polyplex Corporation Ltd is Overvalued by 73.35% compared to the current share price 1,191.00

Intrinsic Value of Polyplex Corporation Ltd as of November 21, 2024 is: 213.14

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 21, 2024, Polyplex Corporation Ltd is Overvalued by 82.10% compared to the current share price 1,191.00

Last 5 Year EPS CAGR: -32.84%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (2,772.92 cr) compared to borrowings (1,071.23 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (4.00 cr) and profit (321.08 cr) over the years.
  1. The stock has a low average ROCE of 8.92%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 75.58, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 111.42, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Polyplex Corporation Ltd:
    1. Net Profit Margin: 1.36%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 1.87% (Industry Average ROCE: 12.6%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 1.07% (Industry Average ROE: 34.21%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 3.04
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.78
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 24.2 (Industry average Stock P/E: 25.1)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.2
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Polyplex Corporation Ltd. is a Public Limited Listed company incorporated on 18/10/1984 and has its registered office in the State of Uttarakhand/Uttaranchal, India. Company’s Corporate Identification Number(CIN) is L25209UR1984PLC011596 and registration number is 011596. Currently Company is involved in the business activities of Manufacture of semi-finished of plastic products (plastic plates, sheets, blocks, film, foil, strip etc.). Company’s Total Operating Revenue is Rs. 1784.78 Cr. and Equity Capital is Rs. 31.97 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Packaging & ContainersLohia Head Road, Udham Singh Nagar Uttarakhand/Uttaranchal 262308investorrelations@polyplex.com
http://www.polyplex.com
Management
NamePosition Held
Mr. Sanjiv SarafChairman
Mr. Pranay KothariExecutive Director & CEO
Mr. Sanjiv ChadhaNon Executive Director
Mr. Iyad MalasNon Executive Director
Mr. Yogesh KapurIndependent Director
Mr. Sandip DasIndependent Director
Mr. Ranjit SinghIndependent Director
Ms. Pooja HaldeaIndependent Director
Mr. Hemant SahaiIndependent Director

FAQ

What is the latest intrinsic value of Polyplex Corporation Ltd?

The latest intrinsic value of Polyplex Corporation Ltd as on 21 November 2024 is ₹317.35, which is 73.35% lower than the current market price of ₹1,191.00.

What is the Market Cap of Polyplex Corporation Ltd?

The Market Cap of Polyplex Corporation Ltd is 3,737 Cr..

What is the current Stock Price of Polyplex Corporation Ltd as on 21 November 2024?

The current stock price of Polyplex Corporation Ltd as on 21 November 2024 is ₹1,191.

What is the High / Low of Polyplex Corporation Ltd stocks in FY 2024?

In FY 2024, the High / Low of Polyplex Corporation Ltd stocks is 1,376/752.

What is the Stock P/E of Polyplex Corporation Ltd?

The Stock P/E of Polyplex Corporation Ltd is 24.2.

What is the Book Value of Polyplex Corporation Ltd?

The Book Value of Polyplex Corporation Ltd is 1,194.

What is the Dividend Yield of Polyplex Corporation Ltd?

The Dividend Yield of Polyplex Corporation Ltd is 0.76 %.

What is the ROCE of Polyplex Corporation Ltd?

The ROCE of Polyplex Corporation Ltd is 1.81 %.

What is the ROE of Polyplex Corporation Ltd?

The ROE of Polyplex Corporation Ltd is 1.09 %.

What is the Face Value of Polyplex Corporation Ltd?

The Face Value of Polyplex Corporation Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Polyplex Corporation Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE