Polyplex Corporation Limited — PPTs, 31-05-2025: Investor Presentation

1. Financial Highlights:

Polyplex delivered ₹6,869 Cr revenue for FY24-25, up 9% YoY, driven by a 49% volume jump to 3.4 lakh MT and improved product mix. Normalized EBITDA rose 8% to ₹752 Cr (11% margin) supported by specialty films and downstream sales. PAT before minority interest increased 8% to ₹358 Cr. Q4 volumes remained steady at 88,226 MT, with ₹1,736 Cr revenue and ₹187 Cr EBITDA. Forex volatility impacted Q4 PAT but the full year saw FX gains. Capacity utilization is near 100%.

2. Strategic Initiatives & Growth Drivers:

Capex of $76.5 mn is underway for new BOPET lines in India and abroad to meet strong packaging and industrial demand. Polyplex emphasizes global integrated manufacturing with backward resin production and forward coating/metallizing for cost leadership and innovation. Sustainability efforts include renewable energy and mechanical/chemical recycling through its Ecoblue subsidiary.

3. Business Developments:

Polyplex expands its sustainable product portfolio with recyclable and bio-based films, including 100% recycled PET and mono-PET options. Ecoblue leads food-grade recycled resin production and partners with global environmental groups. Continued innovations target packaging, electrical, and industrial markets led by strong R&D collaboration.

4. Market Position & Competitive Advantage:

With 7 sites in 5 countries and a distribution network serving ~2,735 customers across 86 countries, Polyplex ranks #2 globally ex-China in thin BOPET capacity. Its integrated resin production and downstream capabilities create high barriers, while near-shoring enhances supply chain resilience and margin stability amid market volatility.

5. Investor Implications:

Polyplex’s volume growth, diversified specialty film focus, and strong balance sheet highlight positive growth potential. Near-full capacity utilization and ongoing capex support margin stability. Sustainability integration aligns with market trends. Execution risk on expansions and forex volatility remain key watch points. Overall, well-positioned to capture resilient demand with a premium pricing advantage.