Dalmia Securities' research report onPolyplex Corporation Ltd
Polyplex Corp Ltd (PCL) is one of the world's largest manufacturers of thin Polyethylene Terephthalate (PET) film catering to Packaging, Industrial, Electrical & Imaging industry through its state-of-the-art manufacturing plants and distribution facilities in India, Thailand, Turkey and the US with market share of ~5% in the thin PET film. PCL has a capacity of 186,000 MT of thin PET film and 28,800 MT of thick PET film which forms majority of the capacity.
OutlookThus, on the back of good growth potential and inexpensive valuations, we expect the PCL stock to get rerated going ahead. We initiate coverage on the stock with a Buy recommendation and Target Price of INR 702, valuing the stock at 3x FY20E EV/EBITDA implying an upside of 38%.
For all recommendations report, click here
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