A product of this packaging stock is used to enhance the life cycle and safety of lithium-ion batteries

The stock is trading at a PE multiple of 8.67x.

On October 18, the shares of Polyplex Corporation Ltd closed at Rs 1698.65. The stock opened at Rs 1719.85 and made an intraday high and low of Rs 1789 and Rs 1685, respectively.      

Polyplex Corporation Ltd manufactures BOPP, Blown PP/PE and CPP films which have applications in the flexible packaging industry as well as industrial applications, such as release liners, tapes and labels. The polyester film produced by the company is used in lithium-ion batteries to enhance the life cycle and safety of the battery.  

Talking about FY22’s geographical revenue breakdown, 19 per cent of the revenue came from the Indian market, 27 per cent from other Asia markets, 27 per cent from America, 22 per cent from Europe and the remaining 5 per cent from the rest of the world.     

In terms of revenue and net profit, Q1FY23 was the most successful quarter for the company. Revenue for Q1FY23 was Rs 2033 crore, representing a 41.18 per cent increase year on year. The net profit for Q1FY23 remained at Rs 311 crore, up 67.2 per cent year on year. The net profit margin increased from 12.9 per cent in Q1FY21 to 15.3 per cent in Q1FY23.  

About the shareholding pattern, almost 50.19 per cent of the stake is owned by the promoters, 12.78 per cent by FIIs, 3.63 per cent by DIIs and the rest 32.62 per cent by the non-institutional investors.      

The company has a market capitalization of Rs 5582 crore and is trading at a PE multiple of 8.67x. The scrip has a 52-week high and low of Rs 2870 and Rs 1638, respectively.