Stock Performance and Market Context
On 24 Nov 2025, Polyplex Corporation’s share price touched Rs.851, the lowest level recorded in the past year. This new low comes after the stock experienced a three-day consecutive decline, resulting in a cumulative return of -2.24% over this period. The day’s performance showed a further dip of 1.91%, underperforming the packaging sector by 1.66%.
Technical indicators reveal that the stock is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This positioning suggests a persistent bearish momentum in the stock’s price action.
In contrast, the broader market has shown resilience. The Sensex opened 88.12 points higher and was trading at 85,412.20, up 0.21% on the day. The benchmark index is currently 0.46% shy of its 52-week high of 85,801.70 and has been on a three-week consecutive rise, gaining 2.64% in that span. Mega-cap stocks have been leading this rally, with the Sensex trading above its 50-day and 200-day moving averages, signalling a bullish trend for the broader market.
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Long-Term Price and Return Analysis
Over the past year, Polyplex Corporation’s stock has recorded a return of -27.59%, a stark contrast to the Sensex’s 7.96% gain during the same period. The stock’s 52-week high was Rs.1,480, indicating a substantial decline of approximately 42.5% from that peak to the current 52-week low.
This underperformance extends beyond the last year, with the stock consistently lagging behind the BSE500 index in each of the previous three annual periods. Such a trend highlights ongoing challenges in maintaining competitive market positioning and investor confidence.
Financial Performance Indicators
Polyplex Corporation’s financial metrics over recent quarters have shown subdued results. The company reported negative results for two consecutive quarters, with profit before tax excluding other income (PBT less OI) at Rs.0.69 crore, reflecting a decline of 77.0% compared to the average of the previous four quarters. Similarly, the profit after tax (PAT) for the quarter stood at Rs.24.70 crore, down by 27.6% relative to the preceding four-quarter average.
Operating cash flow for the year was recorded at Rs.438.03 crore, marking the lowest level in recent periods. These figures indicate a contraction in profitability and cash generation capacity, which have likely contributed to the stock’s downward trajectory.
Over the last five years, operating profit has shown a negative compound annual growth rate of approximately -159.75%, underscoring the company’s difficulties in sustaining growth in core earnings.
Valuation and Risk Considerations
The stock’s valuation metrics suggest elevated risk relative to its historical averages. Profitability has contracted by 52.5% over the past year, while the stock’s returns have simultaneously declined by 27.59%. This divergence points to a challenging environment for the company’s earnings and market valuation.
Another notable factor is the high proportion of promoter shares pledged, which stands at 99.94%. In a declining market, such a high level of pledged shares can exert additional downward pressure on the stock price, as margin calls or forced sales may occur if the share price continues to weaken.
On a positive note, the company maintains a low average debt-to-equity ratio, effectively at zero, which may provide some cushion against financial leverage risks.
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Sector and Industry Positioning
Polyplex Corporation operates within the packaging industry, a sector that has seen mixed performance amid fluctuating demand and input cost pressures. Despite the broader market’s positive momentum, the packaging sector has faced headwinds that have impacted companies differently based on their operational scale and financial health.
Polyplex’s recent share price movement and financial results suggest that it has been more vulnerable to these sectoral pressures compared to some of its peers, as reflected in its relative underperformance.
Summary of Key Metrics
To summarise, the stock’s key data points as of 24 Nov 2025 include:
- New 52-week low price: Rs.851
- Three-day consecutive decline with -2.24% returns
- Trading below all major moving averages (5, 20, 50, 100, 200 days)
- One-year stock return: -27.59% versus Sensex’s 7.96%
- Operating cash flow (yearly): Rs.438.03 crore (lowest recent level)
- Profit before tax less other income (quarterly): Rs.0.69 crore, down 77.0%
- Profit after tax (quarterly): Rs.24.70 crore, down 27.6%
- Promoter share pledge: 99.94%
- Debt-to-equity ratio: approximately zero
These figures collectively illustrate the pressures faced by Polyplex Corporation in the current market environment, reflected in its share price reaching a new annual low.
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