Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated on: 24 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Polyplex Corporation Ltd

About the Company - Polyplex Corporation Ltd

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, Khatima, Udham Singh Nagar Uttarakhand/Uttaranchal 262308investorrelations@polyplex.com
http://www.polyplex.com
Management
NamePosition Held
Mr. Sanjiv SarafChairman
Mr. Pranay KothariExecutive Director
Mr. Sanjiv ChadhaIndependent Director
Mr. Brij Kishore SoniIndependent Director
Mr. Jitender BalakrishnanIndependent Director
Dr. Suresh Inderchand SuranaIndependent Director
Mr. Ranjit SinghIndependent Director
Ms. Pooja HaldeaIndependent Director

Polyplex Corporation Ltd. Share Price Update

Share PriceValue
Today₹977.70
Previous Day₹982.45

Basic Stock Data of Polyplex Corporation Ltd

Market Cap 2,799 Cr.
Current Price 892
High / Low1,644/886
Stock P/E75.7
Book Value 1,105
Dividend Yield2.58 %
ROCE11.6 %
ROE10.2 %
Face Value 10.0

Data Source: screener.in

Competitors of Polyplex Corporation Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
VIP Industries Ltd 7,963 Cr. 561723/51380.8 50.40.80 %27.8 %29.0 % 2.00
Radha Madhav Corporation Ltd 18.3 Cr. 2.003.33/1.1514.8 0.130.00 %178 %% 10.0
Manaksia Ltd 759 Cr. 116194/99.17.00 1195.20 %16.0 %9.25 % 2.00
Oricon Enterprises Ltd 683 Cr. 43.549.3/15.257.0 72.01.13 %1.95 %1.17 % 2.00
SMVD Poly Pack Ltd 10.2 Cr. 10.216.2/7.60 31.90.00 %7.22 %1.51 % 10.0
Industry Average295.5 Cr146.5431.9254.691.43%46.19%8.19%5.2

Polyplex Corporation Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales1,2271,2371,2941,4401,5481,7511,8862,0332,0891,8631,6671,5611,572
Expenses1,0479081,0301,1661,2911,4021,5071,6731,8481,7601,6121,4991,451
Operating Profit1813292642742573493793602421045561121
OPM %15%27%20%19%17%20%20%18%12%6%3%4%8%
Other Income1314577208961758657641224
Interest44444457710111210
Depreciation69717167656972717275787575
Profit before tax1202692462112083643633572487631-1359
Tax %15%16%17%12%19%16%16%13%19%-11%34%20%18%
Net Profit1022252051861693053043112008420-1048
EPS in Rs24.3741.8439.9235.5230.5955.8959.1859.5836.6412.322.42-0.998.90

Polyplex Corporation Ltd Quarterly Chart

Polyplex Corporation Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales2,4262,5353,1723,2043,2023,2013,5724,5704,4874,9186,6247,6526,663
Expenses1,9462,3473,0802,9192,8492,7583,0783,8383,7063,7015,3166,7056,322
Operating Profit479188922853534434947327811,2171,308947341
OPM %20%7%3%9%11%14%14%16%17%25%20%12%5%
Other Income-56633770-32177441631315912895157
Interest34325456484739291818163543
Depreciation202150192216209197185209253280273296303
Profit before tax18869-11783643763146576409791,147711152
Tax %-11%4%55%6%75%4%9%11%23%12%16%13%
Net Profit20866-527816361284584494862965616142
EPS in Rs29.386.64-2.1411.879.0872.4449.85103.1888.18163.04181.19110.9722.65
Dividend Payout %14%46%-95%21%34%10%82%50%20%102%58%81%

Polyplex Corporation Ltd Profit & Loss Yearly Chart

Polyplex Corporation Ltd Growth

Compounded Sales Growth
10 Years:12%
5 Years:16%
3 Years:19%
TTM:-20%
Compounded Profit Growth
10 Years:32%
5 Years:17%
3 Years:11%
TTM:-93%
Stock Price CAGR
10 Years:21%
5 Years:14%
3 Years:5%
1 Year:-37%
Return on Equity
10 Years:9%
5 Years:13%
3 Years:15%
Last Year:10%

Polyplex Corporation Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital33333333333333333332323232
Reserves1,8671,9732,2282,0882,2892,2702,5162,7392,9973,0213,2843,4513,436
Borrowings7231,5802,0791,6551,294810863786758695946799621
Other Liabilities8911,0009709689511,2431,4571,6481,9522,4202,9543,0913,033
Total Liabilities3,5134,5855,3094,7444,5664,3564,8685,2055,7396,1687,2167,3737,122
Fixed Assets1,5401,5182,4982,5692,4062,1842,2182,2422,8242,7593,1523,2523,086
CWIP901,1526538310818130325126196297
Investments296766161100133123233288276275230
Other Assets1,8541,8482,0922,1512,1572,0622,5092,6582,6522,7963,6633,6503,510
Total Assets3,5134,5855,3094,7444,5664,3564,8685,2055,7396,1687,2167,3737,122

Polyplex Corporation Ltd Reserves and Borrowings Chart

Polyplex Corporation Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 463721143764484413075517311,102560802
Cash from Investing Activity -217-1,038-391-086-246-106-265-323-4514116
Cash from Financing Activity -103862311-234-473-436-42-312-298-660-232-657
Net Cash Flow143-1043314261-240159-26110-8369160

Polyplex Corporation Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days415047464953564855506144
Inventory Days921008682788810392105133141110
Days Payable454634383652483237555538
Cash Conversion Cycle8810399909290110107123128147116
Working Capital Days556352646558787383809788
ROCE %11%3%-1%4%4%9%8%15%12%19%20%12%

Polyplex Corporation Ltd Financial Efficiency Indicators Chart

Polyplex Corporation Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters50.97%50.97%50.97%50.97%50.97%50.97%50.97%50.97%50.97%50.97%50.97%50.97%
FIIs7.51%8.38%7.71%8.64%9.29%10.23%12.78%14.81%13.16%12.68%10.84%9.41%
DIIs6.13%6.06%5.89%5.33%4.87%4.55%3.63%3.02%2.83%2.82%2.81%2.26%
Public35.38%34.59%35.42%35.06%34.87%34.25%32.62%31.21%33.04%33.53%35.37%37.37%
No. of Shareholders30,90740,03954,28089,2461,05,3311,09,2791,27,0141,33,2161,43,3541,45,1561,48,7141,53,800

Polyplex Corporation Ltd Shareholding Pattern Chart

No. of Polyplex Corporation Ltd Shareholders

Polyplex Corporation Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Nippon India Small Cap Fund6575170.1769.58
Nippon India Nifty Smallcap 250 Index Fund95770.121.01
Motilal Oswal Nifty Smallcap 250 Index Fund58520.120.62
SBI Nifty Smallcap 250 Index Fund45750.120.48
ICICI Prudential Nifty Smallcap 250 Index Fund24130.120.26
HDFC NIFTY Smallcap 250 ETF12330.120.13
HDFC Nifty Smallcap 250 Index Fund10100.120.11
Motilal Oswal Nifty 500 Index Fund6360.010.07
Edelweiss Nifty Smallcap 250 Index Fund2370.120.03
ICICI Prudential S&P BSE 500 ETF1560.010.02

Polyplex Corporation Ltd ROCE Trend

Polyplex Corporation Ltd EPS Trend

Polyplex Corporation Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)110.97181.19162.5788.18103.18
Diluted EPS (Rs.)110.97181.19162.5788.18103.18
Cash EPS (Rs.)285.20387.02357.12229.45243.45
Book Value[Excl.RevalReserv]/Share (Rs.)1804.531664.831503.981377.841230.35
Book Value[Incl.RevalReserv]/Share (Rs.)1804.531664.831503.981377.841230.35
Revenue From Operations / Share (Rs.)2393.502071.991538.351377.971403.39
PBDIT / Share (Rs.)326.03449.12399.08258.61274.82
PBIT / Share (Rs.)233.36363.88311.56180.82210.61
PBT / Share (Rs.)222.33358.72306.06196.60201.68
Net Profit / Share (Rs.)192.53301.78269.61151.65179.24
NP After MI And SOA / Share (Rs.)108.96177.91160.0886.61101.35
PBDIT Margin (%)13.6221.6725.9418.7619.58
PBIT Margin (%)9.7417.5620.2513.1215.00
PBT Margin (%)9.2817.3119.8914.2614.37
Net Profit Margin (%)8.0414.5617.5211.0012.77
NP After MI And SOA Margin (%)4.558.5810.406.287.22
Return on Networth / Equity (%)10.0017.1516.769.3111.90
Return on Capital Employeed (%)11.8619.5518.9311.8216.08
Return On Assets (%)4.707.858.284.896.34
Long Term Debt / Equity (X)0.100.140.110.140.08
Total Debt / Equity (X)0.220.280.190.220.23
Asset Turnover Ratio (%)0.410.500.390.410.47
Current Ratio (X)3.302.812.963.292.37
Quick Ratio (X)2.071.802.072.431.66
Inventory Turnover Ratio (X)1.542.241.872.042.60
Dividend Payout Ratio (NP) (%)95.5255.1993.8458.9643.61
Dividend Payout Ratio (CP) (%)51.6137.3160.6731.0626.69
Earning Retention Ratio (%)4.4844.816.1641.0456.39
Cash Earning Retention Ratio (%)48.3962.6939.3368.9473.31
Interest Coverage Ratio (X)29.5687.0072.5946.7430.77
Interest Coverage Ratio (Post Tax) (X)18.4559.4650.0424.5521.07
Enterprise Value (Cr.)5746.179795.514149.362159.402797.99
EV / Net Operating Revenue (X)0.751.480.840.480.61
EV / EBITDA (X)5.516.823.252.563.13
MarketCap / Net Operating Revenue (X)0.471.170.550.210.36
Retention Ratios (%)4.4744.806.1541.0356.38
Price / BV (X)1.052.340.900.320.60
Price / Net Operating Revenue (X)0.471.170.550.210.36
EarningsYield0.090.070.180.280.19

Polyplex Corporation Ltd Profitability Ratios (%)

Polyplex Corporation Ltd Liquidity Ratios

Polyplex Corporation Ltd Liquidity Ratios (%)

Polyplex Corporation Ltd Interest Coverage Ratios (%)

Polyplex Corporation Ltd Valuation Ratios

Fair Value / Intrinsic Value of Polyplex Corporation Ltd

Fair Value: ₹8752.28

The stock is undervalued by 881.20% compared to the current price ₹892

*Investments are subject to market risks

Strength and Weakness of Polyplex Corporation Ltd

StrengthWeakness
  1. The company has higher reserves (2,627.62 cr) compared to borrowings (1,046.85 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (3.85 cr) and profit (316.69 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 260.05 and average Dividend Yield of 15.13%.
  2. The stock has a low average ROCE of 9.67%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 71.33, which may not be favorable.
  4. The stock has a high average Cash Conversion Cycle of 107.75, which may not be favorable.

Should I Buy Polyplex Corporation Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Polyplex Corporation Ltd:
    1. Net Profit Margin: 8.04%
      • 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: 11.86% (Industry Average ROCE: 52.78%)
      • 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. Interest Coverage Ratio (Post Tax): 18.45
      • 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.
    4. Quick Ratio: 2.07
      • 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.
    5. ✓ Stock P/E: 76.6 (Industry average Stock P/E: 144.4)
      • 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.
    6. ✓ Total Debt / Equity: 0.22
      • 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 suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

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