Polyplex Corporation Ltd

Polyplex Corporation Limited: Trading Window shall remain closed from October 1, 2026 till completion of 48 hours after the declaration/publication of the Unaudited Financial Results of the Company for the quarter/ half year ended September 30, 2026.

AGM Details

• Date, time, mode: 8 Sep 2026, 04:00 PM IST, VC/OAVM.
• Meeting duration: 16:00–17:12 IST.
• Record date: 01 Sep 2026; 92,195 shareholders on record.
• Promoter attendance: 8; Public attendance: 34 (total 42).

Resolutions and outcomes

• Resolution 1 (Ordinary): Adoption of standalone and consolidated financial statements; passed.
• Abstention: 1 shareholder (18,364 shares) on Resolution 1.
• Resolution 2 (Ordinary): Final dividend of INR 1 per equity share; passed.
• Resolution 3 (Ordinary): Re-appointment of Iyad Malas; passed.
• Resolution 4 (Ordinary): Remuneration to Sanjay Gupta & Associates for 2026-27; passed.

Dividend details

• Final dividend of INR 1 per equity share approved.

Director changes

• Iyad Malas re-appointed as Director; retires by rotation.

Auditors

• Cost auditor remuneration for 2026-27 approved.

PDPL acquisition & impact

• Completed 51% stake in Polyplex DigiPrint Private Limited on April 30, 2026.
• PDPL strengthens Digital Print Media and supports growth in D-PAC sales.
• Integration is self-funded with a net cash positive balance sheet.
• FY25-26 revenue $801m; Normalized EBITDA $65m; 8% EBITDA margin.
• Q1 FY26-27 ROCE 16%.
• Upcoming capacity expansions: BOPET India, Metallizers India, Coater Turkey.

AGM details

• AGM held on 8 September 2026 at 1600 IST via Video Conferencing.
• Quorum met; attendees via VC: 42 shareholders (8 Promoter, 34 Public).
• Chairman: Sanjiv Saraf.
• Voting cut-off date: 1 September 2026.
• Remote e-voting 5–7 September 2026; Instapoll at meeting.

Ordinary Business

• Adoption of standalone and consolidated financial statements for FY 2025-26.
• Declaration of final dividend of INR 1.00 per equity share.
• Re-appointment of Iyad Malas as director liable to retirement by rotation.

Special Business

• Remuneration payable to Cost Auditor Sanjay Gupta & Associates approved for FY 2026-27.

Voting status

• Voting results not disclosed in the document.

Overview

• BRSR for FY 2025-26 filed and forms part of the Annual Report.

Governance & Policy Highlights

• Compliance with Regulation 34(2)(f) of SEBI LODR for BRSR filing.

• Revenue: ₹708,586.02 lakh.
• PAT attributable to owners: ₹4,495.13 lakh.
• Basic EPS: ₹14.32.
• Net borrowings: ₹91,709.27 lakh.
• Cash and cash equivalents: ₹32,321.87 lakh.
• India revenue: ₹133,114.97 lakh.
• Outside India revenue: ₹575,471.05 lakh.
• Interim dividend: ₹2.00 per share.
• Total dividend paid: ₹2,040.51 lakh.
• PDPL acquisition completed.

Business Overview

• Integrated and diversified manufacturer of plastic film substrates including BOPET, BOPP, CPP, and Blown PP/PE.
• Global manufacturing footprint across India, Thailand, and Turkey; DPAC-focused growth.
• Backward integration into captive PET resins; downstream capabilities at each site.
• Sustainability leadership via Ecoblue recycling and RPET solutions.
• PDPL acquisition: 51% stake completed April 30, 2026.
• Capacities: Total Resin 495,200 MTPA; Total Base Films 491,837 MTPA.
• Governance: DSIR-recognized R&D; strong governance framework.

Quarter & Year under review

• Q1 FY26-27 revenue INR 2,250 crore (~$238m); QoQ +20%, YoY +30%.
• Normalized EBITDA INR 362 crore (~$38m); margin 16%.
• PAT (Before Minority) INR 171 crore; EPS INR 29.00.
• Sales Volume 91,417 MT; QoQ +4%, YoY +1%.
• Unrealized FX loss INR 39.69 crore in Q1 FY27.

Financial Performance

• FY25-26 revenue USD 801m; Normalized EBITDA USD 38m; EBITDA margin 8%.
• ROCE FY25-26: 16%.

Inorganic Growth

• Acquisition of 51% stake in Polyplex DigiPrint Private Limited completed Apr 30, 2026.
• PDPL enhances downstream product manufacturing, R&D and distribution capabilities.

Growth Capex & Capacity

• New BOPET Line India capex USD 56m; Start-up Q4 FY26-27.
• Metallizers (India) capex USD 7m; Start-up Q4 FY26-27.
• Coater (Turkey) capex USD 10m; Start-up Q2 FY26-27.
• Total growth capex USD 74m under implementation.

Outlook & Guidance

• Q2-26/27: margins to improve with U.S. ramp-up and DPAC expansion.
• Tariffs stable; potential refunds expected to be passed to customers.
• Middle East crisis supports near-term margins; oversupply risk remains.

Risks & Governance

• Geopolitical and FX risk; mitigated by diversified geography and hedging.
• Integrated operations support supply continuity amid disruptions.
• Board has Audit, Nomination & Remuneration, Stakeholder Relationship, CSR, Risk Management committees.

Financial results approved

• Unaudited standalone Q1 FY27 results approved; revenue Rs 43,953 lakh, PAT Rs 1,248 lakh, after limited review.
• Unaudited consolidated Q1 FY27 results approved; revenue Rs 2,25,362 lakh, PAT Rs 17,107 lakh.

Major acquisitions / investments

• Acquisition of 51% stake in TechNova Printrite/PDPL for Rs 6,209.75 lakh.
• PTL-related: 18.09% stake acquired in Polyplex (Thailand) by AGPH (Thailand) Ltd; PTL remains subsidiary.

Regulatory / legal updates

• Arbitration notice from minority shareholder in PTL; management disputes obligation; no expected material adverse impact.

Auditor remarks

• Auditors' reviews concluded no material misstatement; no emphasis of matter.