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Polyplex Corporation an 35 Years old company with sixth largest capacity of polyester (PET) film globally is also one of the most profitable producers of PET Film by way of cost efficient operations resulting from high productivity and low overheads. Polyplex Corp Ltd (PCL) is one of the world’s largest manufacturers of thin Polyethylene Terephthalate (PET) film catering to Packaging, Industrial, Electrical & Imaging industry through its state-of-the-art manufacturing plants and distribution facilities in India, Thailand, Turkey and the US with market share of ~5% in the thin PET film. PCL has a capacity of 186,000 MT of thin PET film and 28,800 MT of thick PET film which forms majority of the capacity.

Being one of the leading PET Film manufacturers, Polyplex operates close to its key regional markets, with manufacturing and supply points across the world. Company runs an integrated manufacturing & distribution operations in six countries viz. India, Thailand, Turkey, U.S.A., China & Netherlands and are in the process of setting up new manufacturing operations in Indonesia. Company has multinational presence with manufacturing and distribution facilities in India, South-East Asia, Europe, the Americas and China and supplying to about 1780 customers in 75 countries across Europe, the Americas, the Indian sub-continent, Far East, Asia Pacific and the Middle East.


Sales growth has been very nominal at 13% and 8% over the 3 and 5 years period however the Profit growth for the Polyplex has been robust over the same Period with Compounded profit growth of 100% and 116% over 3 & 5 years respectively. Company has very small amount of debt which is servicable along with large amount of money in Cash and Equivalentls. Currently as of March 2019 company had 783Cr of Cash & Cash Equivalents as against total borrowings of 763 Crores down about 12% from previous year. Company has been regularly paying dividend since 1994, current year dividend paid is 30 Rs for the previous year while 10 Rs Interim dividend for the current year.

(Currently the stock trades at 52 week low of 429 Rs. Polyplex Corporation was previously suggested in DARKHORSESTOCKS at 551Rs since than the stock had gained 20% achieving potential target before falling to current levels.)