The promoters of this small-cap company which deals in plastic products to sell 24.27 percent stake to AGP Holdco for 1,188.93 Cr. 

At the day’s closing the shares of Polyplex Corporation were trading at Rs. 1,157 up by 1.5 percent from its previous day close price and the market capitalization of the company is 3,635 Cr. 

As per the company’s filing, Polyplex Corporation’s promoter group have agreed to sell 24.2778 percent stake in the company for an aggregate consideration of 1,188.93 Cr to AGP Holdco Limited. Earlier as of May 2023, the promoters had agreed to sell 24.2778 percent stake in the company for a consideration of 1,379.47 Cr after further discussions between the two parties the above deal was finalised. 

The company’s revenue has increased by 34.69 percent from 4,918.27 Cr in FY22 to 6,624.4 Cr in FY23, accompanied by increasing profits of 861.96 Cr to 964.83 Cr. 

The company has reported a return on equity (ROE) of 18.11 percent and return on capital employed (ROCE) of 17.5 percent, this indicates that the company is making decent returns on its equity and capital employed as the profitability ratios are decreasing over time. 

According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 50.97 percent stake, the Domestic Institutional Investors hold 2.82 percent and the Foreign Institutional Investors (FII) hold 10.84 percent. 

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. 

Written by: Bharath K.S


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