Polyplex Corporation Limited (POLYPLEX) AI Stock Analysis

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Polyplex Corporation Limited

(NSE:POLYPLEX)

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Rating:54Neutral

Price Target:INR 893.00▼(-6.55% Downside)

Action:reiterated

Date:09/26/26

The score is held back primarily by materially weakened profitability and inconsistent cash generation, despite a revenue rebound and FY2026 returning to positive free cash flow. A conservative, stable balance sheet is the key support. Technically, momentum is subdued (below short-term moving averages with negative MACD), and valuation is only moderate given the low dividend yield and current earnings pressure.

Positive Factors

Conservative Balance SheetConservative leverage and a larger equity base provide resilience through the cyclical specialty-films market. Lower debt dependence preserves financial flexibility for investment and helps the company absorb earnings volatility without excessive balance-sheet stress.

Negative Factors

Severely Compressed ProfitabilityThe sharp decline in gross and net margins shows that the revenue recovery has not translated into comparable earnings power. Persistently thin profitability leaves less room to fund investment, withstand industry cycles, or generate attractive shareholder returns.

Polyplex Corporation Limited (POLYPLEX) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 29.95B
Dividend Yield: 0.31%
Average Volume (3M): 12.83K
Price to Earnings (P/E): 19.2
Beta (1Y): 0.86
Revenue Growth: 9.55%
EPS Growth: 13.87%
Country: India
Employees: 534
Sector: General
Sector Strength: 55
Industry: Chemicals - Specialty

Polyplex Corporation Limited Business Overview & Revenue Model

Company Description

Polyplex Corporation Limited, established in Noida, India in 1984, is a global manufacturer and distributor specializing in polyester (PET) films, primarily catering to the flexible packaging industry. The company's diverse product portfolio includes...

Polyplex Corporation Limited Financial Statement Overview

Summary

Balance sheet strength offsets weak profitability. Leverage is conservative and stable (debt-to-equity ~0.22 in FY2026), but margins and earnings are near trough levels (net margin ~0.6% in FY2026 vs ~8.6% in FY2022) and cash flow has been volatile despite FY2026 returning to positive free cash flow (~1.17B) after two negative years.

Income Statement

46Neutral

Balance Sheet

72Positive

Cash Flow

55Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	76.01B	70.86B	68.85B	62.94B	76.40B	66.07B
Gross Profit	12.42B	10.28B	11.85B	14.65B	20.86B	24.61B
EBITDA	6.72B	6.40B	7.91B	4.22B	10.42B	14.36B
Net Income	1.55B	449.50M	2.09B	378.32M	3.48B	5.69B
Balance Sheet
Total Assets	0	89.14B	79.98B	74.31B	73.97B	72.46B
Cash, Cash Equivalents and Short-Term Investments	10.59B	10.59B	8.45B	7.85B	10.98B	10.39B
Total Debt	0	9.35B	8.82B	7.48B	7.99B	9.46B
Total Liabilities	-70.37B	18.77B	17.77B	16.20B	16.27B	19.23B
Stockholders Equity	70.37B	42.40B	37.63B	35.11B	34.83B	33.16B
Cash Flow
Free Cash Flow	622.80M	1.17B	-823.10M	-619.32M	5.29B	1.58B
Operating Cash Flow	3.08B	5.22B	4.20B	4.55B	8.02B	5.60B
Investing Cash Flow	-1.78B	-5.48B	-5.12B	-7.96B	-1.15B	10.61M
Financing Cash Flow	-182.70M	-792.40M	192.10M	-1.52B	-6.57B	-2.32B

Polyplex Corporation Limited Technical Analysis

Technical Analysis SentimentNeutral

Last Price955.55

Price Trends

50DMA1035.14Negative

100DMA1061.89Negative

200DMA964.31Negative

Market Momentum

MACD-33.54Negative

RSI49.02Neutral

STOCH54.23Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:POLYPLEX, the sentiment is Neutral. The current price of 955.55 is above the 20-day moving average (MA) of 938.48, below the 50-day MA of 1035.14, and below the 200-day MA of 964.31, indicating a neutral trend. The MACD of -33.54 indicates Negative momentum. The RSI at 49.02 is Neutral, neither overbought nor oversold. The STOCH value of 54.23 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:POLYPLEX.

Polyplex Corporation Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:POLYPLEX against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:PREMIERPOL	77Outperform	INR 9.54B	25.88	―	0.16%	28.59%	39.90%
IN:GRWRHITECH	65Neutral	INR 183.13B	42.23	―	0.16%	14.67%	36.19%
IN:SRF	65Neutral	INR 729.21B	32.60	―	0.40%	19.67%	41.12%
IN:PLASTIBLEN	63Neutral	INR 4.49B	9.92	―	1.71%	9.17%	40.71%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:POLYPLEX	54Neutral	INR 28.77B	19.21	―	0.31%	9.55%	13.87%
IN:JINDALPOLY	47Neutral	INR 30.00B	-3.06	―	0.86%	-58.49%	-4440.85%

* General Sector Average

Performance Comparison

IN:POLYPLEX and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:POLYPLEX	Polyplex Corporation Limited	955.55	28.73	3.10%
IN:GRWRHITECH	Garware Hi-Tech Films Limited	7747.10	4167.37	116.42%
IN:JINDALPOLY	Jindal Poly Films Limited	687.85	128.60	23.00%
IN:PLASTIBLEN	Plastiblends India Limited	175.90	3.64	2.11%
IN:PREMIERPOL	Premier Polyfilm Limited	91.09	52.04	133.28%
IN:SRF	Srf Limited	2507.00	-391.39	-13.50%

Polyplex Corporation Limited Corporate Events

Polyplex Confirms SEBI-Compliant Dematerialization of Shares for Q2 FY2026

Oct 12, 2026

Polyplex Corporation Limited has reported compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The company has received a confirmation certificate from its registrar...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Sep 25, 2026

Polyplex Corporation Limited AI Stock Analysis