Polyplex Corporation, a leading manufacturer of plastic film substrates like BOPET, BOPP, CPP, and blown PP/PE, is known for producing a wide range of specialized products used in electrical, electronic, packaging, and other industrial applications. It is unique in being the only company globally with resin factories at all of its manufacturing sites. Over the past 10-15 years, Polyplex has diversified into value-added downstream products under brands such as Saracote, Saralam, Saraprint, and Sarafil, which include both conventional and specialty base films.
Dividend Announcement
Polyplex Corporation has declared an interim dividend of ₹9 per share for the financial year 2024-25, with a record date set for November 26, 2024. The dividend will be paid within the time prescribed by law and will be subject to TDS/withholding tax.
Financial Performance
For Q2 FY25, Polyplex posted a 2.93% growth in revenue from operations, reaching ₹392.52 crore, compared to ₹381.33 crore in the same quarter of FY24. Its net profit saw a significant increase of 36.11%, rising from ₹10.80 crore in Q2 FY24 to ₹14.70 crore in Q2 FY25. EBITDA also grew by 29.45%, from ₹24.14 crore in Q2 FY24 to ₹31.25 crore in the same period this year.
Stock Analysis and Price Target
Mandar Bhojane, an equity research analyst at Choice Broking, highlighted Polyplex’s strong technical position, noting that the stock recently broke out of a consolidation range between ₹1,100 and ₹1,175. It currently holds above critical support levels and key Exponential Moving Averages (EMAs) at the 20-day, 50-day, and 200-day marks, signaling a positive trend. The Relative Strength Index (RSI) stands at 52.69, reflecting upward momentum.
Bhojane suggests that Polyplex could target ₹1,300 next, with support around ₹1,150. He advises investors to employ trailing stop losses for risk management, particularly for those who entered the stock at lower levels. The overall technical outlook remains favorable, signaling the potential for further upward movement.
Disclaimer: The information provided is for informational purposes only and should not be construed as financial or investment advice. Please consult a qualified financial advisor before making any investment decisions. The author does not assume any responsibility for the accuracy or completeness of the information.
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