Polyplex Corporation Ltd

Polyplex Corporation Ltd
Commodity Chemicals
FV – Rs 10; 52wks H/L –378.8/195.9; TTQ – 4 K; CMP – Rs 346 (As On November 15th 2016; 13.00);                                

  Market Cap – Rs 1094 Crs

Consolidated Financials and Valuations for FY16 (Amt in Rs Crs unless specified)


Equity Capital
Net worth		 Long Term Debt
Total
Sales		 PAT
BV
(Rs)
EPS (Rs)
P/E
Industry P/E
P/BV
Promoter’s
Stake		 Beta
31.98 2322 714 3214 29.04 726 9.08 38.1 24.32 0.5 50.03 1.16

 

Consolidated Financials and Valuations for H1 FY17


Equity Capital
Net worth
Total
Sales		 PAT
BV
(Rs)
TTM EPS (Rs)
TTM P/E
Industry P/E
P/BV
Promoter’s
Stake		 Beta
31.98 2438 1587 112.47 762 35.16 9.8 24.32 0.45 50.03 1.16

 

Valuation Parameters:

  1. Long Term Debt to Equity – 0.31
  2. ROE % – 1.25
  3. Market Cap/Sales – 0.34

The effective stake of Poylplex Corporation in Polyplex Thailand has increased to 54.08% from 51% earlier, the release added. The rights offering of shares has been made by Polyplex Thailand, at a price of Baht 6.40 per share of the face value of Baht 1.00 each. (http://www.business-standard.com/article/markets/polyplex-corporation-gains-on-raising-stake-in-overseas-arm-116061000316_1.html)

Polyplex ltd enjoys a global manufacturing presence across 5 locations in 4 countries and caters to around 1600 customers across 86 countries.

The Company is in the process of installing a new metalliser in India with an annual capacity of 8100 metric tonnes to widen the portfolio of metalised films. (Production expected to begin from Q2 Fy16-17)

Overview:

  • Polyplex CorporationLtd is a manufacturer of thin polyester terephthalate (PET) films.
  • The Company manufactures plastic films and resins. Its geographical segments include India and Outside India.
  • Its business portfolio includes biaxially oriented polypropylene (BOPP) films and cast polypropylene (CPP) films.
  • Its product lines consist of Sarafil, including BOPET films and BLOWN PP films; Saracote, including silicone coated films (PET/PP); Saralam, including extrusion coated film products, and Saraprint, including polyester films for digital print media sector.
  • Its product applications include packaging, such as film for flexible pouches, peel-able seals and lids; industrial and specialties, such as labels, lamination films and medical test strips; electrical, such as thermal printing tapes and membrane touch switches; imaging, such as overhead transparencies and business graphics, and magnetics, such as video tape and audio cassette tape.

Management:

  • Mr. Sanjeev Saraf  – Chairman

Major Non – Promoter Holdings:

Sr.No Non – Promoters No. of shares held % of shares held
1 DSP Blackrock Small and Midcap Fund 1020647 3.19
2 Reliance Smallcap Fund 1404314 4.39
3 IL&FS Trust Co.Ltd 4586055 14.34
4 Keswani Haresh 1548856 4.84
5 Ricky Ishwardas Kirpalani 1493710 4.67

 

Consolidated Financial Trends (In Rs. Crs) :

Particulars FY16 FY15 FY14 FY13 FY12 FY11
Equity Paid Up 31.98 31.98 31.98 31.98 31.98 31.98
Networth 2322 2121 2261 2006 1900 1607
Total Debt 1210 1530 1821 1422 590 620
Net Sales 3214 3322 3209 2598 2488 2460
Other Income 34 118 37 63 62 19
PAT 29.04 37.95 -6.83 21.23 93.98 1055.57
Book Value (Rs) 726 663 707 627 594 503
EPS (Rs) 9.08 11.87 -2.14 6.64 29.39 330.07