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Employees: 1,487
Size Polyplex (POLYPLEX.NS) is an India Materials company (Chemicals: Specialty) with a market value of $290M, the 1055th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹874.25 on 6 Nov 2026.
Performance Over six months the shares fell 7.0%, against -24.2% for the median peer and 0.0% for the India market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 9.6% over the last twelve months (peer median +3.3%); the operating margin is 3.9% (peer median 2.9%).
Valuation It trades at 0.4× enterprise value to sales against a peer median of 1.5× (cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is +2 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 10.1 points below its cost of capital (13.2% WACC).
Next results Next results expected around 16 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹76.0B | ₹70.8B | ₹68.7B | ₹62.9B | ₹76.4B |
| Revenue growth | — | +3% | +9% | -18% | — |
| Gross profit | ₹12.4B | ₹6.96B | ₹8.93B | ₹5.76B | ₹13.0B |
| EBITDA | ₹6.64B | ₹5.01B | ₹6.86B | ₹4.50B | ₹9.50B |
| Net income | ₹1.55B | ₹450M | ₹2.09B | ₹378M | ₹3.48B |
| Free cash flow | n/a | ₹1.17B | -₹823M | -₹716M | ₹5.16B |
| Capital expenditure | n/a | ₹4.05B | ₹5.03B | ₹5.17B | ₹2.73B |
| Total debt | n/a | ₹9.35B | ₹8.82B | ₹7.48B | ₹7.99B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | POLYPLEX.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -14.6% | -16.8% | 8th highest of 21 |
| 6-month return | -7.0% | -24.2% | 5th highest of 21 |
| Distance from 52-week high | -30.8% | -45.9% | 2nd highest of 21 |
| Revenue growth (TTM) | +9.6% | +3.3% | 7th highest of 21 |
| Operating margin | 3.9% | 2.9% | 9th highest of 21 |
| EV / Sales | 0.4× | 1.5× | cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 9.9% | 11.5% | 5th least demanding of 10 |
| Growth delivered (Del g) | +7.6% | +4.1% | 3rd highest of 10 |
| Hurdle (Req g minus delivered) | +2.3 pp | +12.0 pp | 4th least demanding of 10 |
| ROIC minus cost of capital | -10.1 pp | -6.7 pp | 6th lowest of 20 |
| EV / EBITDA | 4.1× | 8.9× | 2nd cheapest of 9 |
| Net debt / EBITDA | -0.2× | 2.6× | 3rd least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Polyplex POLYPLEX.NS | India | $290M | -7% | +10% | 4% | 0.4× | 9.9% | +7.6% |
| Premier Explosives PREMEXPLN.NS | India | $290M | -9% | -27% | 3% | 7.8× | n/a | n/a |
| International CSRC Investment 2104.TW | Taiwan | $290M | -5% | -20% | -20% | 0.9× | n/a | n/a |
| Rasa Industries,Ltd 4022.T | Japan | $298M | -44% | +13% | 13% | 1.0× | 6.4% | +10.5% |
| Liuzhou Chemical Industry 600423.SS | China | $299M | -19% | +3% | -15% | 10.7× | 38.2% | +5.2% |
| WONIK Materials 104830.KS | South Korea | $274M | -44% | +12% | 17% | 1.1× | -8.3% | +3.1% |
| Wuxi Honghui New Materials Technology 002802.SZ | China | $307M | -17% | +8% | 13% | 3.7× | 11.5% | -6.2% |
| PI Advanced Materials 178920.KS | South Korea | $307M | -45% | -2% | 22% | 1.6× | -9.5% | +0.1% |
| Shenzhen Tongyi Industry 300538.SZ | China | $307M | -31% | -16% | -2% | 1.0× | n/a | n/a |
| Suzhou Fushilai Pharmaceutical 301258.SZ | China | $313M | -21% | -15% | -13% | 2.7× | n/a | n/a |
| Yangfan New Materials (Zhejiang) 300637.SZ | China | $314M | -19% | +3% | 1% | 2.8× | 57.5% | +13.4% |
| Jiangmen Kanhoo Industry 300340.SZ | China | $318M | -31% | +20% | -7% | 1.2× | 51.6% | +4.7% |
| Trualt Bioenergy TRUALT.NS | India | $320M | -26% | -5% | 14% | 1.7× | n/a | n/a |
| Weifang Yaxing Chemical 600319.SS | China | $320M | -32% | -5% | -10% | 4.6× | n/a | n/a |
| Chung Hwa Chemical Industrial Works 1727.TW | Taiwan | $325M | -4% | +5% | 5% | 5.5× | n/a | n/a |
| Aekyung Chemical 161000.KS | South Korea | $326M | -41% | +3% | 2% | 0.6× | n/a | n/a |
| PCC Rokita Spolka Akcyjna PCR.WA | Poland | $327M | -7% | -6% | 3% | 1.0× | 16.1% | +4.1% |
| Anhui Annada Titanium Industry 002136.SZ | China | $327M | -33% | +12% | 2% | 1.3× | n/a | n/a |
| Guangdong Quanwei Technology 300716.SZ | China | $331M | +2% | +47% | -333% | 24.4× | n/a | n/a |
| Stella Chemifa 4109.T | Japan | $332M | -22% | +4% | 12% | 1.2× | 6.5% | +2.3% |
| Jiangsu HSC New Energy Materials 688353.SS | China | $332M | -35% | +153% | 39% | 1.1× | n/a | n/a |