Polyplex Corporation is engaged in manufacturing of BOPP, Blown PP/PE and CPP films used in the flexible packaging industry and in industrial usages like release liners, tapes, labels etc. They have 35 Years Of Experience in Plastic Films. They have 7 Manufacturing Facilities In 5 Countries with Multiple Warehouses & Liaison Offices Worldwide. Presenting below are its Q1 FY26 earnings results.
Q1 FY26 Earnings Results
-
Total Income: ₹1,768.46 crores, up 4.3% QoQ (Q4 FY25: ₹1,695.48 crores), and up 3.3% YoY (Q1 FY25: ₹1,711.52 crores).
-
Revenue from Operations: ₹1,739 crores, up from ₹1,686 crores YoY.
-
Total Expenses: ₹1,839.06 crores, up 9.8% QoQ and 14.6% YoY.
-
Profit Before Tax (PBT): -₹70.60 crores (loss), versus profit of ₹21.13 crores in Q4 FY25 and ₹107.41 crores in Q1 FY25.
-
Profit After Tax (PAT): -₹59.81 crores (loss), lower from ₹31.37 crores in Q4 FY25 and ₹97.13 crores in Q1 FY25.
-
Earnings Per Share (EPS): -₹6.15, versus ₹3.22 in Q4 FY25 and ₹17.10 in Q1 FY25.
-
EBITDA: ₹186 crores, down 1% QoQ and 9% YoY; margin erosion from cost and FX pressures.
-
Sales Volume: 91,000 MT, up 3% QoQ and 7% YoY—robust operational volumes.
-
Other Income: ₹29.79 crores, up from ₹25.92 crores YoY.
Management Commentary & Strategic Decisions
-
Despite record sales volume, Polyplex faced severe profitability pressures due to weaker global prices, higher fixed costs from new capacity ramp-ups (especially in the US), and a major unrealized foreign exchange loss.
-
Management expects Q2 to have similar EBITDA and continued margin pressures, but is optimistic on longer-term gains from new capacity and differentiated product focus.
-
Steps are being taken to manage costs, improve efficiency at new plants, mitigate FX volatility, and focus on high-value and domestic market growth.
-
The company continues investing in capacity and innovation, but flags a ‘wait and watch’ outlook until external conditions—pricing, FX, global demand—normalize.
Q4 FY25 Earnings Results
-
Total Income: ₹1,695.48 crores, down 7.3% QoQ, down 2.1% YoY.
-
Revenue from Operations: ₹1,739.56 crores, up 3.6% YoY.
-
Total Expenses: ₹1,674.35 crores, up 5.9% YoY.
-
Profit Before Tax (PBT): ₹21.13 crores, down 85.1% QoQ, down 30.8% YoY.
-
Profit After Tax (PAT): -₹9 crores, down 70.2% QoQ, up 54.8% YoY.
-
Earnings Per Share (EPS): ₹3.22, down 85.3% QoQ, up 12.5% YoY.
-
PBIDT (EBITDA): ₹81.63 crores, margin 4.69% (down from 6.75% YoY).
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.