Polyplex Corporation Limited (POLYPLEX.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+284.2%

₹3,505.63

vs ₹912.50 price

Levered DCF

₹1,206.48

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	52.22×	17.82×	68.82×	10.3×	13.38×	5.31×	3.4×	5.09×
P/B	0.55×	0.99×	0.74×	1.03×	2.3×	0.89×	0.32×	0.61×
P/S	0.33×	0.54×	0.41×	0.47×	1.15×	0.55×	0.21×	0.37×
EV / EBITDA	4.63×	4.9×	6.84×	3.28×	5.4×	2.33×	1.4×	2.38×
Gross margin	14.5%	17.2%	23.3%	27.3%	37.2%	41.4%	34.6%	30.2%
Operating margin	3.9%	5.8%	2.4%	8.6%	15.8%	19.3%	13.0%	11.6%
Net margin	0.6%	3.0%	0.6%	4.6%	8.6%	10.4%	6.3%	7.3%
Current ratio	2.59×	2.78×	2.97×	3.3×	2.81×	2.96×	3.29×	2.37×
Debt / equity	0.22×	0.23×	0.21×	0.23×	0.29×	0.23×	0.25×	0.28×
Interest coverage	5.19×	8.59×	3.88×	18.72×	63.19×	53.86×	32.2×	18.07×
Dividend yield	0.9%	0.8%	1.0%	9.0%	4.4%	16.8%	17.2%	8.5%
Payout ratio	48.5%	15.1%	66.7%	92.9%	58.9%	89.2%	58.7%	43.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.1%	5.6%	1.1%	10.0%	17.2%	16.8%	9.3%	11.9%
Return on invested capital	3.4%	4.4%	2.3%	8.5%	13.7%	14.9%	8.4%	9.7%
Return on assets	0.5%	2.6%	0.5%	4.7%	7.9%	8.3%	4.9%	6.3%
Free cash flow yield	5.0%	-2.2%	-2.4%	14.7%	2.1%	21.1%	27.0%	10.6%
Earnings yield	1.9%	5.6%	1.5%	9.7%	7.5%	18.8%	29.4%	19.7%
Enterprise value	₹29.6B	₹38.8B	₹28.9B	₹34.2B	₹77.5B	₹29.8B	₹12.8B	₹21.3B
Net debt / EBITDA	0.96×	0.19×	0.67×	-0.16×	0.1×	0.2×	0.35×	0.51×
Cash conversion cycle (days)	123	122	119	105	135	111	110	98