Polyplex Corporation LimitedQ1 FY27 Results & Financial Update
Polyplex Corporation Limited: Q1 FY27 consolidated results and company financials – revenue ₹2,253.62 Cr, PAT ₹171.07 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
Find an answer
Ask this result
Chart · Market context
Polyplex Corporation price & chart
Market priceLoading…
1Y return—Price return
Loading market chart…
TradingView Lightweight Charts™ · Copyright © 2025 TradingView, Inc.TradingView
Market chartPrice chart temporarily unavailableThe price chart could not be loaded right now. The reported financial results remain available above.
Spotted a factual error?Tell us the number, date or statement and we will re-check the underlying records and calculations.Report an error
Quarterly Results AnalysisExplore Polyplex Corporation Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Polyplex Corporation reported consolidated revenue from operations of INR 2,253.62 crore for the quarter ended June 30, 2026, alongside a total consolidated income of INR 2,279.09 crore.
Profit before tax (PBT) for the quarter stood at INR 210.65 crore, while total net profit after tax (PAT) reached INR 171.07 crore, yielding basic and diluted earnings per share (EPS) of INR 29.00.
The profitability of the group was supported by robust contributions from major overseas operating hubs, particularly Polyplex (Thailand), which recorded total quarterly revenues of INR 1,785.18 crore and a net profit after tax of INR 152.75 crore.
During the quarter, the group expanded its domestic operational scope by acquiring a 51% equity stake in TechNova Printrite Products Private Limited—subsequently renamed Polyplex DigiPrint Private Limited (PDPL)—effective May 1, 2026.
Consolidated total expenses for the period aggregated to INR 2,068.44 crore, driven primarily by raw material consumption of INR 1,391.43 crore and employee benefit expenses of INR 216.55 crore.
The group's total comprehensive income for the quarter reached INR 217.12 crore, incorporating INR 46.05 crore in net other comprehensive income largely driven by exchange differences on translation of foreign operations.
Out of the total consolidated net profit of INR 171.07 crore, an amount of INR 91.03 crore was attributable to the owners of the holding company, while INR 80.04 crore was attributed to non-controlling interests.
01 · Business model
What does Polyplex Corporation do?
Polyplex Corporation Limited is a multinational manufacturer of polymeric films, operating primarily in the packaging and industrial sectors with a global manufacturing footprint spanning India, Thailand, Turkey, the United States, Indonesia, and the Netherlands.
The company's core product portfolio encompasses Biaxially Oriented Polyethylene Terephthalate (BOPET) films, Biaxially Oriented Polypropylene (BOPP) films, and downstream value-added products such as extrusion coating films, silicone coated films, and digital print media solutions.
Polyplex serves diverse end-user industries across more than 75 countries, providing critical packaging substrates for food, pharmaceuticals, and consumer goods, as well as industrial applications for electrical and solar sectors.
The group manages its widespread operations through key operating subsidiaries, notably Polyplex (Thailand) Public Company Limited and Polyplex (Asia) PTE. Limited, alongside newly integrated entities in the digital print domain.
02 · Historical context
What shaped the business before this quarter
During the previous financial year, subsidiary Polyplex (Thailand) Public Company Limited changed its accounting policy regarding the recording of investments in subsidiaries from the cost method to the equity method effective April 1, 2025.
AGPH (Thailand) Ltd., a wholly owned subsidiary of AGP Holdco Limited, UAE, previously acquired a 18.09% stake in Polyplex (Thailand) Public Company Limited through a tender offer in Thailand, following which PTL remains a consolidated subsidiary with Polyplex Corporation holding 51% of its paid-up equity.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹2,253.62 Cr |
| Total income | ₹2,279.09 Cr |
| Profit before tax | ₹210.65 Cr |
| Profit after tax | ₹171.07 Cr |
| EPS | ₹29.00 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Consolidated revenue from operations reached INR 2,253.62 crore for Q1 FY27, underpinned by sustained demand across global packaging and industrial film markets.
Polyplex (Thailand) Public Company Limited contributed total revenues of INR 1,785.18 crore during the quarter.
Newly consolidated subsidiary Polyplex DigiPrint Private Limited contributed total revenues of INR 45.40 crore for the operational period from May 1, 2026, to June 30, 2026.
Polyplex (Asia) PTE. Limited generated standalone revenues of INR 47.50 crore during the quarter.
What drove margins
Cost of materials consumed stood at INR 1,391.43 crore, while purchases of stock-in-trade were INR 54.41 crore and changes in inventories of finished goods and work-in-progress showed a positive adjustment of INR 142.30 crore.
Power and fuel expenses aggregated to INR 129.89 crore, and other expenses stood at INR 307.21 crore.
Employee benefit expenses were recorded at INR 216.55 crore, and finance costs for the quarter amounted to INR 16.90 crore.
Depreciation and amortisation charges for the quarter were steady at INR 94.35 crore.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The group's business activities continue to be viewed by management as falling within a single primary reportable business segment, namely manufacturing of Polymeric Films.
06 · Strategy & new businesses
How the company is trying to change its growth mix
During the quarter ended June 30, 2026, the group acquired a 51% equity stake in TechNova Printrite Products Private Limited (subsequently renamed Polyplex DigiPrint Private Limited) for an intermediate consideration of approximately INR 62.10 crore.
The acquisition of PDPL has been accounted for by recognizing certain intangible assets on a provisional basis, with the balance assigned as provisional goodwill subject to final valuation reports.
07 · Reported developments
What changed operationally
The group posted a robust consolidated net profit after tax of INR 171.07 crore for Q1 FY27, rebounding from losses recorded in the corresponding period of the previous year.
Key subsidiaries, including Polyplex (Thailand) and Polyplex DigiPrint, delivered profitable operations during the quarter, contributing INR 152.75 crore and INR 3.83 crore in net profit after tax respectively.
08 · Pressure points & risks
What is not going smoothly
Subsidiary Polyplex (Thailand) continues to contest an arbitration claim from a minority shareholder of EcoBlue Limited regarding a share purchase demand valued at approximately TBH 1,312 million (around INR 378 crore), though management maintains there is no obligation under the Shareholding Agreement.
09 · Items worth noticing
The line items that can distort a quick read
Other income of INR 25.47 crore includes unrealised foreign exchange differences on the restatement of long-term foreign currency monetary items.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
Change of Subsidiary Name
TechNova Printrite Products Private Limited was officially renamed Polyplex DigiPrint Private Limited following its acquisition by the group effective May 1, 2026.
Reported update
Statutory Auditor Review
The unaudited consolidated and standalone financial results for Q1 FY27 were jointly reviewed by S.R. Batliboi & Co. LLP and S S Kothari Mehta & Co. LLP, and approved by the Board of Directors on August 11, 2026.
11 · Key Q&A
The quarter, answered directly
What does Polyplex Corporation do?
Polyplex Corporation Limited is a multinational manufacturer of polymeric films, operating primarily in the packaging and industrial sectors with a global manufacturing footprint spanning India, Thailand, Turkey, the United States, Indonesia, and the Netherlands.
What is the clearest takeaway from Q1 FY27?
Polyplex Corporation reported consolidated revenue from operations of INR 2,253.62 crore for the quarter ended June 30, 2026, alongside a total consolidated income of INR 2,279.09 crore.
What drove revenue or demand?
Consolidated revenue from operations reached INR 2,253.62 crore for Q1 FY27, underpinned by sustained demand across global packaging and industrial film markets.
What mattered most for margins or profitability?
Cost of materials consumed stood at INR 1,391.43 crore, while purchases of stock-in-trade were INR 54.41 crore and changes in inventories of finished goods and work-in-progress showed a positive adjustment of INR 142.30 crore.
What changed operationally beyond the headline numbers?
During the quarter ended June 30, 2026, the group acquired a 51% equity stake in TechNova Printrite Products Private Limited (subsequently renamed Polyplex DigiPrint Private Limited) for an intermediate consideration of approximately INR 62.10 crore.
What are the main pressure points disclosed for the quarter?
Subsidiary Polyplex (Thailand) continues to contest an arbitration claim from a minority shareholder of EcoBlue Limited regarding a share purchase demand valued at approximately TBH 1,312 million (around INR 378 crore), though management maintains there is no obligation under the Shareholding Agreement.
12 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
Build your own next-quarter scenario
Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.
Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
Scenario revenue / income₹0 cr
Scenario profit after tax₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%
The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
13 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Finalisation of Acquisition Valuation: Finalisation of purchase price allocation and intangible asset valuations regarding the newly acquired subsidiary Polyplex DigiPrint Private Limited.
- 02
EcoBlue Arbitration Developments: Further procedural updates concerning the ongoing arbitration proceedings initiated by the minority shareholder of EcoBlue Limited against Polyplex (Thailand).
Learn the metrics
Need the concepts first?
Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.