Polyplex Corporation was incorporated in 1984 and commenced commercial operations with its first film line of 4000 TPA in May 1988, which was subsequently increased to 6000 TPA. With its operations stabilizing, by the mid 90s, Polyplex was able to emerge as one of the most profitable producers of Polyester Film in India.

Polyplex is one of India’s leading manufacturers and exporters of Biaxially Oriented Polyester (BOPET) Film for packaging, electrical and other industrial applications.

With its headquarters in NOIDA, New Delhi the Company has three PET Film manufacturing facilities – one located in Khatima in the state of UttaranchAal, India, another at Rayong province in Thailand (owned and operated by Polyplex (Thailand) Public Company Ltd. (PTL), its subsidiary) and the latest facility at Çorlu, Tekirdag in Turkey (owned and operated by Polyplex Europa Polyester Film San. ve Tic. A.S. (PE), which is a wholly-owned subsidiary of PTL).

Polyplex has established itself as one of the most profitable producers of PET Film by way of cost efficient operations resulting from high productivity and low overheads. Its products have gained wide acceptance in the Global markets, such as USA, Europe, South-East Asia, South America, North America and Australia, where the Company has been consistently exporting about 75% of its production.

The company has a dynamic workforce of about 400 employees in India, more than 250 employees in Thailand and more than 150 employees in Turkey. With its expansion in Turkey, Polyplex has a capacity of 83,000 TPA. The capacity enhancement in Turkey has made Polyplex the 5th largest Thin Film Producer in the world.

Following from the company’s objective of being a PET Film manufacturer of global significance, Polyplex expanded its film capacity further by investing in a new film line of 15000 MT in Thailand. The new line was commissioned on April 2, 2003 within the budgeted costs and ahead of time. Following this, PTL has set up its next PET film line with a capacity of 15000 MT in a record time of nine months. The line commenced commercial production in November 2003.

The company also commissioned a Metallizer in India in December 2002. This has enabled the company to broaden its product portfolio and improve value additions.These investments have strengthened the company’s competitive position in the PET Film business ensuring continued cost leadership. This together with the current demand-supply situation, would enable Polyplex to provide an attractive value proposition to its customers and investors.

Production in both the India and the Thailand units has been more than rated capacity. Consequently in 2003-04 capacities were restated at 20,000 MT for India and 39,000 MT for Thailand.

During 2004-05, the company took steps to implement a Polyester film plant in Turkey and has formed a company in Turkey, Polyplex Europa Polyester Film San. Ve Tic. A.S., for this purpose. This unit successfully started commercial production in December  2005.

During 2005-06, the company planned to set up a Silicone Coater Plant with an investment of around Rs. 22 Crore. Currently Trial runs are being undertaken. Polyplex Corporation is a Public Company listed on National Stock Exchange and Mumbai Stock Exchange. 

Products manufactured by the company:

The company is engaged in the production of Biaxially Oriented Polyester (BOPET) Film, that is used successfully in a wide range of applications, due to its excellent combination of optical, physical, mechanical, thermal, and chemical properties, as well as its unique versatility.

 * Plain Film (Untreated)
 * Plain Film (Treated)
 * Plain Film (Untreated and Hazy)
 * Metallised

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Market Cap	3,279 Cr	ROE	30.3%
P/E Ratio(TTM)	46.1	EPS(TTM)	0.0
P/B Ratio	0.9	Dividend Yield	8.4%
Industry P/E	59.2	Book Value	1.1K
		Face Value	10.0

Fundamentals