Polyplex Corporation Limited — PPTs, 18-11-2025: Investor Presentation

Polyplex Corporation Limited has reported the financial results for the quarter and half-year ended September 30, 2025.

1. **Business Performance:** Q2 revenue hit 1,791 Cr (+28% YoY) and H1 revenue reached 3,527 Cr (+3% YoY), largely driven by higher sales volumes (+26% YoY Q2, +18% YoY H1), especially from the new US production line. However, lower sales realization due to tepid demand and oversupply, along with unrealized FX losses (12.67 Cr in Q2, 169.09 Cr in H1), impacted profitability. Normalized EBITDA for Q2 was 138 Cr (+3% YoY) and H1 was 324 Cr (+10% YoY).

2. **Growth Drivers or Strategy:** The company's strategy focuses on a diversified product portfolio, integrated global manufacturing, and Differentiated Product, Application, or Customer (D-PAC) sales for sustained margins. R&D efforts continuously introduce new specialty products.

3. **Recent Developments:** The new US production line significantly contributed to increased sales volumes. Polyplex is also investing in growth capex, including a new BOPET film line in India (USD 58.31 million, expected H2 FY27) and other projects totaling USD 85.47 million to boost specialty film capacity.

4. **Key Financial Metrics:** EPS was 7.87 INR/share for Q2 (vs 20.10 INR YoY) and 1.72 INR/share for H1 (vs 43.30 INR YoY).

5. **Management Commentary / Outlook:** Management acknowledges market challenges from overcapacity and reciprocal tariffs. They anticipate gradual profitability improvement from the US line ramp-up and D-PAC expansion, expecting tariff stabilization within 1-2 quarters.