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Polyplex Corporation Ltd

NSE: POLYPLEX BSE: 524051

844.55

(-2.89%)

Sat, 14 Feb 2026, 07:11 pm

Polyplex Corporation Analysis

dividend

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Pros

  • Dividends per share have increased over the past 10 years.
  • Dividends paid are well covered by earnings (5.2x coverage).
  • Dividends after 3 years are expected to be well covered by earnings (4.9x coverage).
  • Polyplex's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.76%).
  • Polyplex's dividend is above the markets top 25% of dividend payers in India (3.08%).
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Cons

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

future

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Pros

  • Polyplex's earnings growth is expected to exceed the low risk savings rate of 7.2%.
  • Polyplex's earnings are expected to exceed the low risk growth rate next year.
  • Polyplex's revenue growth is expected to exceed the India market average.
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Cons

  • Cash flow for Polyplex is expected to increase but not above the 50% threshold in 2 years time.
  • Polyplex's earnings are expected to grow by 15.5% yearly, however this is not considered high growth (20% yearly).
  • Polyplex's earnings growth is positive but not above the India market average.
  • Polyplex's net income is expected to increase but not above the 50% threshold in 2 years time.
  • Polyplex is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
  • Performance (ROE) is not expected to exceed the current IN Chemicals industry average.
  • A decline in Polyplex's performance (ROE) is expected over the next 3 years.
  • Polyplex's revenue is expected to increase but not above the 50% threshold in 2 years time.
  • Polyplex's revenue is expected to grow by 8.1% yearly, however this is not considered high growth (20% yearly).

health

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Pros

  • Polyplex is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Polyplex is profitable, therefore cash runway is not a concern.
  • Polyplex is profitable, therefore cash runway is not a concern.
  • Debt is well covered by operating cash flow (106.3%, greater than 20% of total debt).
  • Debt is covered by short term assets, assets are 3.7x debt.
  • Polyplex's cash and other short term assets cover its long term commitments.
  • The level of debt compared to net worth has been reduced over the past 5 years (59.4% vs 15.3% today).
  • Interest payments on debt are well covered by earnings (EBIT is 34.9x coverage).
  • Polyplex's level of debt (15.3%) compared to net worth is satisfactory (less than 40%).
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Cons

  • High level of physical assets or inventory.

management

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Pros

  • The tenure for the Polyplex board of directors is about average.
  • Pranay's compensation has been consistent with company performance over the past year, both up more than 20%.
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Cons

  • Pranay's remuneration is higher than average for companies of similar size in India.

misc

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Pros

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    Cons

    • Polyplex has significant price volatility in the past 3 months.

    past

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    Pros

    • Polyplex has delivered over 20% year on year earnings growth in the past 5 years.
    • Polyplex has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
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    Cons

    • Polyplex's 1-year earnings growth is negative, it can't be compared to the 5-year average.
    • Polyplex used its assets less efficiently than the IN Chemicals industry average last year based on Return on Assets.
    • Polyplex has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
    • Polyplex's 1-year earnings growth is negative, it can't be compared to the IN Chemicals industry average.

    value

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    Pros

    • Polyplex is good value based on assets compared to the IN Chemicals industry average.
    • Polyplex is good value based on expected growth next year.
    • Polyplex is good value based on earnings compared to the IN Chemicals industry average.
    • Polyplex is good value based on earnings compared to the India market.
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    Cons

    • Polyplex's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).
    • Polyplex's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).
    • 524051 underperformed the Chemicals industry which returned 2.2% over the past year.
    • 524051 underperformed the Market in India which returned -14.5% over the past year.
    • BSE:524051 is up 1.7% underperforming the Chemicals industry which returned 6.9% over the past month.
    • BSE:524051 is up 1.7% underperforming the market in India which returned 8% over the past month.

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